WGU D023 School Financial Leadership Latest Update 2024-2025 Actual Exam 200 Questions and 100% Verified Correct Answers
- Stakeholders Who Should Be at Your District's or School's Fundraising Table -
CORRECT ANSWER: District and School Leadership, teachers, PTO and/or
Educational Foundation, IT team,Other PLTW Advocates (parents, business leaders, clubs)
A balance sheet is a projection of expenditures for the school year. - CORRECT ANSWER: False While a budget is a projection of the application of funds to allocation priorities throughout the fiscal year, the balance sheet is a financial statement that details the school's assets, liabilities, and equity as of a specific date, typically the date of the report production. Balance sheets are normally produced with a year-to-date balance indication by category or both a year-to-date and a month-to-month expenditure accounting.
A principal is allowed to involve campus stakeholders in making decisions concerning
the campus budget - CORRECT ANSWER: site based budget
A principal is expected to implement new math and reading programs for the campus during the next school year. The superintendent has charged the principal with creating a budget that considers the effectiveness and cost of different math and reading
programs. - CORRECT ANSWER: planning, programming, and budgeting system
A principal is working with the site-based decision-making committee to consider and determine the cost effectiveness of a new reading curriculum for the campus for the next school year. In what stage of the budget process would this typically take place? -
CORRECT ANSWER: Planning
A public school that offers specialized curricula and programs not available in a
traditional public school. - CORRECT ANSWER: Magnet school
A school budget is a "living" document, as it requires periodic review, revision,
adjustment, and reporting. - CORRECT ANSWER: True
A school budget should reflect the goals of the school and school improvement
planning, and should be presented in a measurable format - CORRECT ANSWER: True
A school district decides to hire a qualified accountant to conduct an audit after a review by other school personnel. What type of audit best describes this scenario? -
CORRECT ANSWER: External audit
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A school district hires a qualified accountant to conduct ongoing audits to promote proper and careful management of school finances. Which type of audit is represented
by the above scenario? - CORRECT ANSWER: Internal audit
A school has set a goal for creating and maintaining an efficiently functioning learning environment. One of the objectives is to maintain a safe school.Which budget item
would be most appropriately tied to this goal and objectives- - CORRECT ANSWER:
Purchase cameras that will be strategically placed throughout the school.
A school principal was required to attend a budget hearing regarding the school's proposed budget. What is the principal's role in this hearing? - CORRECT ANSWER: To provide justification for budgetary requests and answer questions
A school-sponsored club account- - CORRECT ANSWER: equity
Approximately 50 percent of a school's or district's budget is encumbered in salary and
benefit expenses for personnel - CORRECT ANSWER: False 85%
Bond levy funding for construction of a building - CORRECT ANSWER: Local funding
Cafeteria supplies- - CORRECT ANSWER: Liability
Charter schools are funded by public schools, through public dollars, like a public
school. - CORRECT ANSWER: False
Charter schools are semiautonomous public schools that operate under a written contract with a state, district, or other entity and have the freedom to teach religion
without charging school tuition. - CORRECT ANSWER: False
community organizations provide resources to the school through - CORRECT
ANSWER: formal partnerships.
creating a budget draft is the first step stakeholders must consider when creating a
budget. - CORRECT ANSWER: False
Difficulty in attracting the best teachers - - CORRECT ANSWER: urban and rural
schools
Elementary and Secondary Education Act of 1965- - CORRECT ANSWER: Lyndon B
Johnson
ESEA - CORRECT ANSWER: Categorical grant
Federal Funding Bond levy funding for construction of a building- - CORRECT
ANSWER: True
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Federal funds are automatically provided to schools that qualify for federal funding. -
CORRECT ANSWER: False
Federal support of school is limited to ESEA, Title I, II, and III, and is purposed to
support instructional improvement. - CORRECT ANSWER: False
Focuses on improving performance- - CORRECT ANSWER: TQM
For a Title I school operating a targeted assistance program, which children should the
school provide Title I services to? - CORRECT ANSWER: children who are failing
Foundational funding provided by formula to support an equitable per pupil expenditure
level - CORRECT ANSWER: state funding
Funding disparities can be found across states, within states, and from community to
community. - CORRECT ANSWER: True
Funding for public schools is directly addressed in which document? - CORRECT
ANSWER: state constitutuion
Funds allocated for payment to a vendor, individual, company, or other entity. This type
of fund within a budget is an outgoing amount - CORRECT ANSWER: expenditures
Funds received by the district or school. Typically, this fund is reported by not only amount but by source as well. It is also not unusual for these funds to arrive at different
times throughout the year. - CORRECT ANSWER: revenue
Generally accepted accounting principles and practices indicate that government accounting systems should be organized and operated on a fund basis.What is the best way to describe a fund?- - CORRECT ANSWER: A fiscal and accounting entity with a self-balancing set of accounts recording cash and other financial resources for the purpose of carrying out specific activities
Gives parents the freedom to choose a private school for their children and uses all or part of the public funding set aside for the child's education - CORRECT ANSWER: School Voucher
goals 2000 - CORRECT ANSWER: Bill Clinton
Higher percentage of high-cost students to educate - CORRECT ANSWER: Urban
How are the costs for special education programs classified?- - CORRECT ANSWER:
Direct cost
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