Shared Flashcard Set

Details

ELPS 664 Midterm
With Professor Dunlap, Spring 2010
82
Finance
Graduate
03/06/2010

Additional Finance Flashcards

 


 

Cards

Term
In California, most of the funding for K-12 education comes from the state.
Definition
True
Term
The property tax has historically been the major source of revenue for schools
Definition
True
Term
Increases or decreases in the revenue limit are determined by the school board.
Definition
False
Term
California ranks near the bottom when compared with other states in terms of the amount of taxes collected from citizens.
Definition
False
Term
Linking expenditures to outcomes is often a public concern.
Definition
True
Term
Most school districts in California are unified.
Definition
False
Term
Court decisions are requiring more and more states to equalize statewide funding levels for school districts.
Definition
True
Term
California spends more than other states on school administration.
Definition
False
Term
The charter school movement has been successful in California although the number of charter schools in the state is limited to 200
Definition
False
Term
Class size reduction has had a negative effect on districts' capacity to provide adequate classrooms.
Definition
True
Term
Education is regarded as a public but not a private good.
Definition
False
Term
The Federal Government has generally been involved in education by supplementing budgets for special needs and national priorities.
Definition
True
Term
State courts have held that individuals do not have a right to an education.
Definition
False
Term
California leads the nation in the amount of per-pupil expenditures for education.
Definition
False
Term
During the past decade, California's student enrollment has been increasing.
Definition
True
Term
The terms equality and equity are synonymous.
Definition
False
Term
The state provides a base revenue limit for all California school districts. This base revenue limit can be increased by a vote of the citizens of a local district.
Definition
False
Term
Of the four sources of revenue for a school district, the lottery provides the second greatest source of revenue.
Definition
False
Term
API and AYP are the same program, but are administered by different levels of government.
Definition
False
Term
By law, schools must be open 180 days each year. Due to budget cutbacks, the legislature and the governor have approved a shorter school year of 175 days through 2013
Definition
True
Term
Which of the following has not been a factor in creating enrollment growth in CA?
Definition
a) 1980's baby boomlet
b) The length of the CA school year
c) Immigrants coming in
d) Migrations from other states
Term
The number of schools districts in CA is about
Definition
1000
Term
The percentage of ELL in CA public schools is approximately
Definition
25%
Term
Alternative funding sources for education include
Definition
a) Parcel taxes
b) Foundations
c) Lottery
d) Site-Value Tax and VAT
e) All of the above
Term
CA school districts rely on revenue limit funding for their core operating needs. These general purpose monies come from a combination of
Definition
State funds and local property taxes
Term
Which of these taxes is considered to be the most regressive toward the general population?
Definition
Sales tax
Term
CA has remained consistently below the national average in
Definition
a) Per-pupil spending
b) Teacher-pupil ratio
c) Admin-pupil ratio
d) All of the above
Term
Since Prop 13 passed in 1978, the amount of local property taxes allocated to school districts has been controlled by
Definition
The Governor and legislature
Term
Due to recent elections, parcel taxes can be passed with 55% voter approval.
Definition
Categorical aid is allocated in addition to the revenue limit.
Term
Prop 49 provides funding to increase programs in PI schools.
Definition
The ADA is an important part of the formula that determines the amount of revenue a district receives as part of their revenue limit. It is based on the total number of students present each school day divided by the total number of school days in the school year.
Term
The Gann Limit is a Constitutional Amendment passed as part of the "taxpayer revolt."
Definition
School boards have legal authority to change revenue limits based on local district needs.
Term
A major purpose of the Hughes/Hart Education Reform Act (SB813) was to initiate reforms in special education funding.
Definition
There has been a trend in CA during the past two decades to increase the amount of general purpose funding for schools.
Term
At this time, local districts get most of their funding from local property taxes.
Definition
About 1 in 10 students in CA require special education services.
Term
Three of the highest priorities in the state education budget in recent yeras have been improving student achievement, accountability, and teacher quality.
Definition
About 40% of a district's revenues come in the form of general purpose aid.
Term
Special Education gets the largest share of federal categorical funds.
Definition
Court decisions have minor impact on categorical funding.
Term
School facilities needs are being adequately addressed with recent state bond measures that have passed.
Definition
CA gets the largest amount of its funds from personal income taxes.
Term
SB 90 established limits on the amount of general purpose money a school district can receive per pupil.
Definition
Districts must be within $600 per student to considered within the compliance regulation of Serrano v. Priest.
Term
Lottery funds provide districts with sufficient funds to promote significant changes in instruction.
Definition
Basic Aid funding is provided to all school districts as part of the revenue limit.
Term
The COLA is applied to all funds school districts receive from the state.
Definition
Prop 13, passed by CA voters, placed a limit on property taxes at 1% of the assessed value of this property.
Term
Prop 98, ensured that K-14 education receive a minimum base funding 50% of CA tax revenue.
Definition
AB 1200 gives each of CA's 58 COEs jurisdiction over fiscal oversight of the districts in its county.
Term
Assessed valuation is the value of land, homes, or businesses set by the county assessor for property tax purposes.
Definition
Districts are required to maintain a Routine Restricted Maintenance Fund for the ongoing maintenance of facilities that involves a percentage of their general fund budget.
Term
State law requires that the governor submit a proposed budget to the legislature by
Definition
Jan 10
Term
CA has dealt with cash flow problems by changing the timing of some of its spending on schools. When the state pushes back the date of an expenditure its is called a
Definition
Deferral
Term
The allocation of state or federal aid, district taxes, or other monies to LEAs with the first being in February and the second in June.
Definition
Apportionment
Term
At least twice per year, LEAs self-certify their ability to meet their financial obligations. If the LEA will meet its obligations for the current fiscal year and the subsequent two years it will receive a
Definition
Positive certification
Term
CA does not require a credential for Chief Business Officials (CBOs).
Definition
Operating expenses is one of the three types of school district expenditures.
Term
School district expenditures are shown in the object code series 1000-7000.
Definition
Districts should classify each expenditure by designating the appropriate codes on requisitions submitted by departments.
Term
The CA School Accounting Manual contains the account codes districts must use for revenues and expenditures.
Definition
Program budgeting assists in determining the cost effectiveness of various programs.
Term
Program budgeting in most school districts, when used, is incremental, or historical.
Definition
The major portion of a district's budget is allocated to salaries and benefits.
Term
The PPBS system of program budgeting is fairly simple to use and allows for site-based budgeting decisions.
Definition
The General Fund includes restricted and non-restricted expenditures.
Term
The property tax is an example of a regressive tax.
Definition
The purpose of the COLA is to help districts keep up with inflation.
Term
The amount of categorical aid received is quite similar among school districts.
Definition
User fees are a major way in which a district can increase its revenue.
Term
If a district does not submit a budget by Sept. 15, the County Superintendent is required to develop one and bill the district.
Definition
Districts are not permitted to raise local funds through lease of school property.
Term
Districts may charge parents to transport special education students to and from school.
Definition
Based on a recent CA court decisions, districts may ask parents to pay for their children's textbooks and school supplies.
Term
The County Superintendent's Office has a significant role in relation to budgets of school districts.
Definition
Line item budgets are most commonly used by school districts for their General Fund budget.
Term
Each line item in the General Fund must be listed in columns marked restricted or unrestricted.
Definition
Restricted items are those where the monies are earmarked for specific objectives/programs.
Term
Districts are not required to meet budget deadlines as long as they make sure their budgets are in balance.
Definition
All restricted funds are from state and federal categorical programs.
Term
A budget contains both revenues and expenditures.
Definition
In CA, the proportion of school district monies for K-12 education which comes from the State is about.
Term
The CBO of a school district should have expertise in which of the following 4 areas?
Definition
Business operations, collective bargaining, accounting, economics
Term
The following elements are among the six to be included in the account codes.
Definition
Goal, object, project year, resource
Term
Incremental or historical budgeting means
Definition
The starting point is the prior year budget.
Term
Among the advantages of Zero-Based Budgeting is
Definition
Annual evaluation of program priorities.
Term
The areas into which a budget is organized is prescribed by
Definition
The major portion of a district's budget income is from
Term
The specific amount of state and local taxes a school district may receive per pupil for its general education program is
Definition
All district revenues are placed in what account?
Term
Most districts spend at least the following percentage of their budget on personnel costs.
Definition
Which type of fund is required for all districts?
Term
What major sources of info must be reviewed in order to determine how much money a district will get in revenue the next year?
Definition
Enrollment projections, ADA projections, COLA, categorical funds, lottery.
Term
Revenue limit income
Definition
a) Makes up most of the district's general fund.
b) Is mostly unrestricted.
c) Is the amount of money a district may receive for general purposes.
d) All of the above.
Term
Budget is an ongoing process.
Definition
Over the past 10 years, the number of school districts applying for emergency loans have increased.
Term
One of FCMAT's purposes is to provide districts with financial staff development programs.
Definition
The Constitutional deadline for the legislature to adopt the state budget is June 15.
Term
The purpose of a district budget calendar is to guarantee financial solvency.
Definition
According to AB 1200, a fiscal advisory may be assigned when a district can't meet its financial obligations.
Term
All districts must conduct a public hearing on the budget each year.
Definition
FCMAT stands for Federal Crisis and Management Assistance Team.
Term
All districts in CA must use the same state approved budget forms.
Definition
Enrollment projections are one of the most important indicators of future income.
Term
A district's ADA is usually slightly greater than its student enrollment.
Definition
Categorical funds are earmarked for specific purposes.
Term
A new law requires that current and future retiree benefits be listed as a reserve by districts.
Definition
AB 1200 was passed as a result of bankruptcy of some school districts and was intended to impose greater fiscal controls on school districts.
Term
A budget is
Definition
a spending plan to accomplish instructional objectives.
Term
The deadline to serve school principals a notice of intent to layoff is
Definition
Average size districts in CA are required to set aside the following amount for economic uncertainties:
Term
The major intent of AB 1200 was to
Definition
impose greater fiscal accountability controls on school districts.
Term
The District Superintendent must be replaced when
Definition
the amount of a loan to a district to keep it solvent exceeds a set threshold.
Term
What must a district do on both of these dates - Oct 31 and Jan 17?
Definition
Submit an interim financial report to the county.
Term
Which of the following is not a danger signal that indicates a district will need to plan for expenditures for the following year's budget?
Definition
Enrollment growth
Term
Lottery income is about what percent of a school district's general fund budget?
Definition
In most districts what percentage of the budget is for personnel salaries and benefits?
Term
Which factor is the most significant factor in determining the per pupil cost of education?
Definition
Student-teacher ratio (class size)
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