SAC Budget & Financial Management

Question 1

Which type of school budget model allocates funds based on the actual number of students enrolled, assigning dollars directly to schools?

Accepted Answer

Student-based (weighted) budgeting

Answer

Line-item budgeting

Answer

Program-based budgeting

Answer

Zero-based budgeting

Question 2

What is a 'restricted fund' in school finance?

Accepted Answer

Funds that must be used for specific purposes as defined by the grantor or legal mandate

Answer

Money set aside for emergency repairs

Answer

Budget lines frozen by the board

Answer

Accounts accessible only by the superintendent

Question 3

What does a 'carryover' in school budgeting refer to?

Accepted Answer

Unexpended funds from one fiscal year that are allowed to be used in the following year

Answer

Debt carried from one fiscal year to the next

Answer

Emergency budget reserves

Answer

Funds transferred between departments mid-year

Question 4

Which federal funding stream specifically targets low-income students to improve academic achievement in high-poverty schools?

Accepted Answer

Title I, Part A

Answer

IDEA Part B

Answer

Title II

Answer

Perkins V

Question 5

When preparing a school-level budget, an administrator should align expenditures primarily with:

Accepted Answer

The school improvement plan goals and student learning priorities

Answer

Last year's spending patterns

Answer

The preferences of the loudest parent group

Answer

The most convenient staffing assignments

Question 6

What is the purpose of an encumbrance in school accounting?

Accepted Answer

Reserving budget funds for anticipated future expenditures before the actual transaction occurs

Answer

Recording revenue received from fundraising

Answer

Tracking teacher absences with substitutes

Answer

Noting denied budget requests