SLLA School Finance and Resource Management 3

Question 1

Which grant type gives school administrators the greatest flexibility in how allocated funds may be spent?

Accepted Answer

Block grants

Answer

Categorical grants

Answer

Formula grants

Answer

Competitive grants

Question 2

What does the 'supplement, not supplant' provision in federal education law require?

Accepted Answer

Federal funds must add to, not replace, existing state and local funding

Answer

Schools must supplement teacher salaries using only federal funds

Answer

Districts must replace outdated curricula using federal grant dollars

Answer

Federal funds are restricted to supplemental after-school programs

Question 3

What is the primary purpose of a school's reserve fund (fund balance)?

Accepted Answer

To provide financial stability and cover unexpected costs

Answer

To fund annual salary increases for certified staff

Answer

To finance capital construction projects exclusively

Answer

To accumulate dedicated funds for technology upgrades

Question 4

When a principal moves funds from one budget line item to another within the same program without changing total program funding, this is called a:

Accepted Answer

Budget transfer

Answer

Budget amendment

Answer

Budget revision request

Answer

Budget reallocation order

Question 5

Which measure best indicates a school district's short-term financial health and ability to meet near-term obligations?

Accepted Answer

Fund balance as a percentage of annual expenditures

Answer

Total assessed property value in the district

Answer

Annual revenue growth rate over five years

Answer

Capital equipment depreciation rate

Question 6

Federal IDEA funds are specifically designated for which purpose?

Accepted Answer

Special education services for students with disabilities

Answer

Professional development for general education teachers

Answer

Technology infrastructure improvements districtwide

Answer

English language acquisition programs for ELL students

Question 7

What is 'transparency' in school finance most accurately described as?

Accepted Answer

Making budget and expenditure information publicly accessible and understandable

Answer

Sharing all detailed financial records directly with students

Answer

Publishing all individual teacher salary data on the school website

Answer

Reporting only high-level summary financial data to the school board