ELPS Conejo 2013 Quizzes Finance

True/False The property tax has historically been the major source of revenue for schools.
True
True/False In California, most of the funding for K-12 education comes from the state
True
True/False Increase or decreases in the revenue limit are determined by the school board.
False
True/False California ranks near the bottom when compared with other states in terms of
the amount of taxes collected from citizens.
False
True/False Linking expenditures to outcomes is often a public concern.
True
True/False Most school districts in California are unified.
False
True/False Court decisions are requiring more and more states to equalize statewide funding levels for school districts.
True
True/False California spends more than other states on school administration.
False
True/False The charter school movement has been successful in California although the number of charter schools in the state is limited to 200.
False
True/False Class size reduction has had a negative effect on districts capacity to provide adequate classrooms.
True
True/False Education is regarded as a public but not a private good.
False
True/False The Federal Government has generally been involved in education by supplementing budgets for special needs and national priorities.
True
True/False State courts have held that individuals do not have a right to an education.
False
True/False California leads the nation in the amount of per-pupil expenditures for education.
False
True/False During the past decade, California’s student enrollment has been increasing.
False
True/False The terms equality and equity are synonymous.
False
True/False 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.
False
True/False Of the four sources of revenue for a school district, the lottery provides the second greatest source of revenue.
False
True/False API and AYP are the same program, but are administered by different levels of government.
False
True/False 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.
True
Which of the following has not been a factor in creating enrollment growth in California?
a. 1980’s baby boomlet.
b. The length of the California school year.
c. Immigrants coming in.
d. Migration from other states
b. The length of the California school year.
The number of school districts in California is about:
a. 500
b. 1500
c. 2000
d. 1000
d. 1000
The percentage of English Learners in California public schools is approximately:
a. 35%
b. 15%
c. 25%
d. 40%
c. 25%
Alternative funding sources for education include:
a. Parcel taxes
b. Foundations
c. Lottery
d. Site-Value Tax and Value-Added Tax
e. All of the above
e. All of the above
California school districts rely on revenue limit funding for their core operating needs. These
general purpose monies come from a combination of:
a. State funds and local property taxes
b. State funds and personal income taxes
c. Sales tax, property tax, and personal income tax.
d. All of the above
a. State funds and local property taxes
Which of these taxes is considered to be the most regressive toward the general population?
a. Property tax
b. Inheritance tax
c. Income tax
d. Sales tax
d. Sales tax
California has remained consistently below the national average in:
a. Per-pupil spending
b. Teacher-pupil ratio
c. Administrator-pupil ratio
d. All of the above.
d. All of the above.
Since Proposition 13 passed in 1978, the amount of local property taxes allocated to school
districts has been controlled by:
a. Local school board
b. Legislature
c. Governor and legislature
c. Governor and legislature
True/False Due to recent elections, parcel taxes can be passed with 55% voter approval.
False
True/False Prop 49 provides funding to increase programs in PI schools.
False
True/False The Gann Limit is a Constitutional Amendment passed as part of the “taxpayer revolt.”
True
True/False A major purpose of the Hughes/Hart Education Reform Act (SB813) was to initiate reforms in special education funding.
False
True/False At this time, local districts get most of their funding from local property taxes.
False
True/False Three of the highest priorities in the state education budget in recent years have been improving student achievement, accountability, and teacher quality.
True
True/False About 40% of a district’s revenues come in the form of general purpose aid.
False
True/False Categorical aid is allocated in addition to the revenue limit.
True
True/False 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.
True
True/False School boards have legal authority to change revenue limits based on local district needs.
False
True/False There has been a trend in CA during the past two decades to increase the amount of general purpose funding for schools.
False
True/False About 1 in 10 students in CA require special education services. (11%)
True
True/False Special Education gets the largest share of federal categorical funds.
False
True/False Court decisions have minor impact on categorical funding.
False
True/False School facilities needs are being adequately addressed with recent state bond measures that have passed.
False
True/False CA gets the largest amount of its funds from personal income taxes.
True
True/False SB 90 established limits on the amount of general purpose money a school district can receive per pupil.
True
True/False Districts must be within $600 per student to be considered within the compliance regulation of Serrano v. Priest.
False
True/False Lottery funds provide districts with sufficient funds to promote significant changes in instruction.
False
True/False Basic Aid funding is provided to all school districts as part of the revenue limit.
False
True/False The COLA is applied to all funds school districts receive from the state.
False
True/False Proposition 13, passed by CA voters, placed a limit on property taxes at 1% of the assessed value of the property.
True
True/False Proposition 98, ensured that K-14 education receive a minimum base funding of 50% of CA tax revenue.
False
True/False AB 1200 gives each of California’s 58 COEs jurisdiction over fiscal oversight of the districts in its county.
True
True/False Assessed valuation is the value of the land, homes, or businesses set by the county assessor for property tax purposes.
True
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.
a. 5%
b. 8%
c. 3%
d. 1%
c. 3%
State law requires that the governor submit a proposed budget to the legislature by:
a. May 15
b. Jan. 10
c. Jan. 1
d. Feb. 1
b. Jan. 10
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 it is called a:
a. Deficit
b. Deferral
c. Direct expense
d. Discretionary expense
b. Deferral
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.
a. Apportionment
b. Abatement
c. Cash flow
d. Equalization
a. Apportionment
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 subsequent two years it will receive a:
a. Qualified certification
b. Positive certification
c. Negative certification
d. Satisfactory certification
b. Positive certification
True/False Budgeting is an ongoing process.
True
True/False Over the past 10 years, the number of school districts applying for emergency loans have increased.
True
True/False One of FCMAT’s purposes is to provide districts with financial staff development programs.
True
True/False The Constitutional deadline for the legislature to adopt the state budget is June 15.
True
True/False The purpose of a district budget calendar is to guarantee financial solvency.
False
True/False According to AB 1200, a fiscal advisor may be assigned when a district can’t meet its financial obligations.
True
True/False All districts must conduct a public hearing on the budget each year.
True
True/False FCMAT stands for Federal Crisis and Management Assistance Team.
False
True/False All districts in CA must use the same state approved budget forms.
True
True/False Enrollment projections are one of the most important indicators of future income.
True
True/False A district’s ADA is usually slightly greater than its student enrollment.
False
True/False Categorical funds are earmarked for specific purposes.
True
True/False A new law requires that current and future retiree benefits be listed as a reserve by districts.
True
True/False AB 1200 was passed as a result of bankruptcy of some school districts and was intended to impose greater fiscal controls on school districts.
True
True/False Typically, the CBO has responsibility for the business office, maintenance and operations, transportation, and food services.
True
True/False Financial planning includes the needs of the instructional program, facilities, maintenance and operations, and all other related services for students.
True
A budget is
a. The best way to control expenditures.
b. A spending plan to accomplish instructional objectives.
c. A requirement used to make reports on categorical programs.
d. Allocated by the state based on ADA.
b. A spending plan to accomplish instructional objectives.
The deadline to serve school principals a notice of intent to layoff is
a. March 1.
b. May 1.
c. April 15.
d. March 15.
d. March 15.
The major intent of AB 1200 was to
a. Impose greater fiscal accountability controls on school districts.
b. Give more control to the state for budgeting of school districts’ revenues.
c. Form a committee to redesign the accounting system of school districts.
d. Change the budget calendar to a dual adoption process.
a. Impose greater fiscal accountability controls on school districts.
Average size districts in CA are required to set aside the following amount for economic uncertainties:
a. 3%.
b. 4%.
c. 2%.
d. 1%.
a. 3%.
The District Superintendent must be replaced when
a. The amount of a loan to a district to keep it solvent exceeds a set threshold.
b. The state is closely monitoring the district about to go bankrupt.
c. The county superintendent issues a qualified certification on financial reports.
d. The board of education requests assistance from the county with financial planning.
a. The amount of a loan to a district to keep it solvent exceeds a set threshold.
What must a district do on both of these dates – Oct. 31 and Jan.17?
a. Establish enrollment count dates for ADA accounting.
b. Set aside a specified amount for economic uncertainties.
c. Change the budget adoption process and timelines.
d. Submit an interim financial report to the county.
d. Submit an interim financial report to the county.
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?
a. Inadequate beginning and ending budget balances.
b. Turnover in administration.
c. Enrollment growth.
d. Collective bargaining contracts without ties to revenues or expenditures.
c. Enrollment growth.
Lottery income is about what percent of a school district’s general fund budget?
a. 1 – 2%.
b. 3 – 5%.
c. 5 – 7%.
d. 8 – 10%.
a. 1 – 2%.
In most districts what percentage of the budget is for personnel salaries and benefits?
a. 95%.
b. 85%.
c. 75%.
d. 65%.
b. 85%.
Which factor is the most significant factor in determining the per pupil cost of education?
a. Teachers’ salaries.
b. Administrators’ salaries.
c. Student-teacher ratio (class size).
d. Cost of new buildings.
c. Student-teacher ratio (class size).
True/False CA does not require a credential for Chief Business Officials (CBOs).
True
True/False Operating expenses is one of the three types of school district expenditures.
True
True/False School district expenditures are shown in the object code series 1000-7000.
True
True/False Districts should classify each expenditure by designating the appropriate codes on requisitions submitted by departments.
True
True/False The CA School Accounting Manual contains the account codes districts must
use for revenues and expenditures.
True
True/False Program budgeting assists in determining the cost effectiveness of various programs.
True
True/False Program budgeting in most school districts, when used, is incremental, or historical.
True
True/False The major portion of a district’s budget is allocated to salaries and benefits.
True
True/False The PPBS system of program budgeting is fairly simple to use and allows for site-based budgeting decisions.
False
True/False The General Fund includes restricted and non-restricted expenditures.
True
True/False The property tax is an example of a regressive tax.
False
True/False The purpose of the COLA is to help districts keep up with inflation.
True
True/False The amount of categorical aid received is quite similar among school districts.
False
True/False User fees are a major way in which a district can increase its revenue.
False
True/False If a district does not submit a budget by Sept. 15, the County Superintendent is required to develop one and bill the district.
False
True/False Districts are not permitted to raise local funds through lease of school property.
False
True/False Districts may charge parents to transport special education students to and from school.
False
True/False Based on a recent CA court decision, districts may ask parents to pay for their children’s textbooks and school supplies.
False
True/False The County Superintendent’s Office has a significant role in relation to budgets of school districts.
True
True/False Line item budgets are most commonly used by school districts for their General Fund budget.
True
True/False Each line item in the General Fund must be listed in columns marked restricted or unrestricted.
True
True/False Restricted items are those where the monies are earmarked for specific objectives/programs.
True
True/False Districts are not required to meet budget deadlines as long as they make sure their budgets are in balance.
False
True/False All restricted funds are from state and federal categorical programs.
True
True/False A budget contains both revenues and expenditures.
True
The CBO of a school district should have expertise in which of the following 4 areas?
a. Accounting, staff evaluation, staff development, economics.
b. Business operations, collective bargaining, accounting, economics.
c. Strategic planning, professional development, inventory control, legal procedures.
d. Business operations, accounting, hiring procedures, program development.
b. Business operations, collective bargaining, accounting, economics.
The following elements are among the six to be included in the account codes.
a. Incomes, expenditures, budget control.
b. Historical, incremental, zero-based, site-based.
c. Strategic planning, categorical programs, revenue limit.
d. Goal, object, project year, resource.
d. Goal, object, project year, resource.
Incremental or historical budgeting means.
a. The starting point is the prior year budget.
b. The budget is built in small increments.
c. Historical factors of the prior ten years have priority in expenditures.
d. Have little to do with allocating funds for salaries and benefits.
a. The starting point is the prior year budget.
Among the advantages of Zero-Based Budgeting is.
a. Its simplicity.
b. Lack of paperwork required.
c. Annual evaluation of program priorities.
d. Inclusion of collective bargaining agreements.
c. Annual evaluation of program priorities.
The areas into which a budget is organized is prescribed by.
a. CA Dept. of Education.
b. The needs of the local school sites.
c. The school district governing board.
d. The federal government.
a. CA Dept. of Education.
In CA, the proportion of school district monies for K-12 education which comes from the State is about.
a. 90%.
b. 10%.
c. 45%
d. 67%.
d. 67%.
The major portion of a district’s income is from.
a. Local property taxes.
b. The revenue limit.
c. The COLA.
d. Categorical programs.
b. The revenue limit.
The specific amount of state and local taxes a school district may receive per pupil for its general education program is.
a. Categorical aid.
b. The revenue limit.
c. Determined by the local school board.
d. Based on assessed values of property taxes in the community.
b. The revenue limit.
What major sources of information must be reviewed in order to determine how much money a district will get in revenue the next year?
a. Enrollment projections, ADA projections, COLA, categorical funds, lottery.
b. Enrollment projections, ADA projections, truancy, new programs desired.
c. Enrollment projections, demographic changes, state economy, lottery.
d. ADA projections, COLA, cash flow, business partnerships.
a. Enrollment projections, ADA projections, COLA, categorical funds, lottery.
All district revenues are placed in what account?
a. 8000 series.
b. 7000 series.
c. A special state account.
d. A local revenue account.
a. 8000 series.
Most districts spend at least the following percentage of their budget on personnel costs.
a. 50%.
b. 95%.
c. 66%.
d. 85%.
d. 85%.
Which type of fund is required for all districts?
a. General fund.
b. Special reserve fund for capital outlay projects.
c. Debt service.
d. Student body.
a. General fund.
Revenue limit income
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.
d. All of the above.
True/False In most districts, the school principal is responsible for maintaining and monitoring the school budget.
True
True/False Budget decisions for school site budgets are clearly defined and consistent among various school sites and districts.
False
True/False One can gain a good feel for a district or school priorities by examining the budget.
True
True/False Site budgets should contain expenditure codes that correlate with the district budget.
True
True/False Keeping track of encumbrances is not as important in site-based budgeting as it is in district budgets.
False
True/False In most districts, principals are responsible for allocation and management of the school personnel budget.
False
True/False Equal funding was meant to equalize students’ opportunities.
True
True/False State policy makers have used categorical programs to pressure school districts into certain types of expenditures.
True
True/False Field trips, technology, library books, and after-school sports are some of the common “extras” paid for by parent organizations or foundations.
True
True/False Poverty has a lesser effect on student achievement than any other single school characteristic.
False
True/False Most elementary and unified districts with low-income students receive more revenues.
True
Categorical aid
a. helps districts to accomplish specific educational objectives
b. highlights special programs
c. addresses children with special needs
d. all of the above
d. all of the above
Two of the highest funded categorical aid programs from the federal government include
a. child nutrition (for district food services) and year round incentives
b. ESEA Title 1 and child nutrition
c. transportation aid and GATE
d. School Improvement Program and adult education
b. ESEA Title 1 and child nutrition
There continues to be much discussion about doing this to improve flexibility in categorical
programs funded both in CA and at the federal level:
a. increase in students from other countries
b. requirements of school site councils
c. consolidation
d. encroachment
c. consolidation
The ratio of general to special purpose aid to districts has changed considerably over the past
20 years. Categorical aid (earmarked money) has
a. increased steadily
b. slightly decreased
c. remained the same for most districts
d. changed only for the aid from the federal government
a. increased steadily
NCLB has modified the original Elementary and Secondary Education Act (ESEA) by
a. increasing the focus on educationally disadvantaged students
b. emphasizing a standards-based curriculum
c. greater accountability
d. teacher training
e. all of the above
e. all of the above
ESEA Title 1 does not include
a. basic grants and migrant education
b. basic grants, migrant education, and advanced placement fee waiver
c. safe and drug free school programs
c. safe and drug free school programs
Categorical funding accounts for what proportion of K-12 education funding?
a. 1/4
b. 2/3
c. 1/2
d. 1/3
d. 1/3
Among school resources, the variables most strongly related to student outcomes
a. the revenue limit and highly qualified teachers
b. level of teacher experience and the percentage of teachers without full credentials
c. categorical aid and revenue limit
d. categorical aid, revenue limit, and local funds
b. level of teacher experience and the percentage of teachers without full credentials
True/False An audit report gives a district board and administration major insight into the financial and educational conditions of the district.
False
True/False Upon completion of an audit, a district may receive any one of three types of auditor opinions regarding an examination of the district’s accounting practices. The most positive audit opinion is called “unqualified.”
True
True/False An auditor is required to review all district funds. However, the major focus of the audit is the district’s general fund.
True
True/False A key budget requirement is that the district be able to meet its financial obligations in the current fiscal year, as well as multi-year financial commitments.
True
True/False One of the major objectives of an audit is to discover major accounting problems or inconsistent practices.
True
True/False The auditor is directly responsible to the district school board and the State Superintendent of Public Instruction.
False
True/False The fee for the audit is paid from district funds, and the charge is usually based on the district’s student enrollment.
True
True/False One of the major problems with the required audit is that it is not completed until after the fiscal year has ended.
True
True/False Although it is wise for a district to employ an independent firm to complete the audit, it may be performed by district staff.
False
True/False All CA school districts are required to arrange for an annual audit of school district funds.
True
True/False School districts who have shown responsible financial accounting for a substantial period of years are not required to conduct an audit every year.
False
True/False Each district must submit its audit report to the county office of education, the CA Dept. of Education, and the state controller.
False
True/False The absence of audit exceptions does not necessarily mean a district has no financial worries.
True
True/False Fiscally healthy districts are more likely to expect their schools to link financial decision-making to school and student performance outcomes.
True
True/False CBOs report that rising costs have been the most common threat to their district’s fiscal health, particularly cost increases related to Special Education, transportation, and staffing.
True
What is the largest and most active fund of a school district which contains such expenditures as salaries, benefits, textbooks, and instructional supplies?
A. Special reserve fund.
B. Proprietary fund.
C. Child development fund.
D. General fund.
D. General fund.
What type of information does a financial audit not provide the school district?
A. Financial condition of the district.
B. Accounting methods used by staff.
C. Impact of financial expenditures on educational programs.
D. Compliance with laws and regulations.
C. Impact of financial expenditures on educational programs.
True/False With some exceptions, it is generally legal to charge students a fee for supplies in high-school extra-curricular activities.
False
True/False A primary activity for student body organizations is fund raising.
True
True/False The student council sponsor has total accountability for student body accounts.
False
True/False Sale of food items on campus must be authorized by the school board.
True
True/False The legal framework for student body organizations is found in the Education Code. For the fund yes, but does that mean the organization itself?
True
True/False Student body funds should be spent to benefit students who are currently enrolled in the school.
True
True/False Student organizations receive an allocation of revenue from the district to operate their programs.
False
True/False Annual external audits for student body funds are not required – only periodic internal audits.
False
True/False The CA Department of Education has little role in directing the procedures for proper accounting of student body funds.
False
True/False Encroachment is not a problem for school districts in their transportation budgets.
False
True/False The CA Supreme Court has ruled that it is legal for districts to charge parents for student transportation to and from school, unless parents or guardians are
“indigent.”
True
True/False One of the major advantages of contracting out student transportation services is saving money on bus drivers.
True
True/False The CA Supreme Court recently ruled that schools may charge fees for extra-curricular activities.
False
True/False One major advantage of contracting out bus transportation is that it saves money on capital expenditures for buses.
True
True/False Student body funds may be used in emergencies to purchase district adopted textbooks.
False
True/False Student organizations are supported by revenue limit funds from the state.
False
True/False A district may charge a fee to transport participating students to athletic events.
False
True/False A major safety factor for school buses in CA has been the state requirement that all buses be equipped with student seat belts.
False
True/False The major fundraising activity on most high school campuses is the sale of food before school, during lunch, and at school activities.
False
True/False The California Interscholastic Federation (CIF) supervises fundraising activities associated with athletics. Activities must comply but do they really oversee?
True
True/False Student transportation is regulated by the CA Department of Education and the CA Highway Patrol.
True
Who has the legal responsibility to establish regulations and procedures for student body organizations and student body funds?
a. School principal.
b. School board.
c. State legislature.
d. Student council.
b. School board.
What must student body organizations do to make sure they are properly and legally functioning?
a. Have a constitution stating the purpose of the organization.
b. Keep minutes of all meetings.
c. Establish policies and procedures for election of officers, fundraisers & expenditures.
d. All of the above.
d. All of the above.
Who must approve all fundraisers?
a. The school board.
b. The student council and the faculty sponsor.
c. The principal.
d. The principal and the student council.
d. The principal and the student council.
Food items on elementary school campuses
a. may not be sold during the day.
b. may be sold after the noon meal has been served.
c. may be sold any time during the lunch hour.
d. are not regulated by state and federal law.
b. may be sold after the noon meal has been served.
What organization governs fundraising procedures associated with athletic events?
a. None.
b. The student council.
c. The California Interscholastic Athletic Federation (CIF).
d. The Accounting Procedures for Student Organizations (Ca Dept. of Ed.)
c. The California Interscholastic Athletic Federation (CIF).
The following are legitimate fundraisers for student body organizations.
a. Rummage sales.
b. Raising funds for textbooks when the district has run out of money.
c. Raising funds for special academic awards for outstanding students.
d. Raffles to repair computer equipment.
c. Raising funds for special academic awards for outstanding students.
Which of the following is a legal fee a district may charge for students?
a. Fee for a damaged or lost book.
b. Entrance fee to a museum for a field trip.
c. A contribution to a fundraiser for a charitable organization.
d. Band equipment and uniforms.
a. Fee for a damaged or lost book.
True/False The function of the maintenance department staff is to make sure classrooms and facilities are kept clean.
False
True/False The term “operations” refers to a district’s housekeeping routines that keep school plants functional.
True
True/False A district master plan for equipment replacement helps to reduce emergency repairs.
True
True/False Repairs and replacement of facilities and equipment is a maintenance function.
True
True/False Research shows that there is little correlation between the cleanliness of the school and educational outcomes.
False
True/False Replanting lawns is part of the operational function of a school.
False
True/False Although the lines of authority vary from district to district, maintenance staff are under the direction of the principal when on his/her site.
False
True/False The physical appearance of a school does not affect the parent’s view of the quality of the educational program.
False
True/False Maintenance personnel need only limited training to perform their duties.
False
True/False In most districts, the Director of Maintenance reports directly to the Superintendent and the Board of Education.
False
True/False The terms “maintenance” and “operations” are used interchangeably in many school districts, although the terms are distinctly different.
True
True/False An example of a maintenance function is the repair of the school’s air conditioning unit.
True
True/False An example of an operational function is the cleaning of classrooms and facilities.
True
True/False Although a district’s maintenance crew may be capable of facility construction, a district is usually wiser to contract outside for construction projects.
True
True/False It is prudent for a school board to set aside funds for long-term maintenance projects. Therefore, this policy is usually supported by the collective bargaining agencies.
False
True/False The lines of authority for maintenance and operations staff may vary from district to district. As a general rule, however, the operations staff usually reports directly to the site administrator and the maintenance staff to the director of maintenance.
True
School district policies on maintenance and operations
a. should include philosophy regarding contracting out of services.
b. are not essential because procedures are clearly established.
c. should include specific procedures regarding scheduling of personnel to do cleaning of
classrooms.
d. do not include organization plans for this department.
a. should include philosophy regarding contracting out of services.
In controlling personnel costs in the maintenance and operations department, which is not an
important consideration?
a. encumbering costs in the beginning of the year.
b. overtime and extra duty hours.
c. the hours of the director of maintenance.
d. substitutes
c. the hours of the director of maintenance.
A work order system
a. is not necessary in smaller districts.
b. describes the purchase order of a piece of equipment.
c. is established when districts need to track the whereabouts of their staff.
d. helps track labor hours and material costs spent on repair jobs.
d. helps track labor hours and material costs spent on repair jobs.

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