SSA School Finance & Budget Management

Question 1

What is the primary purpose of a school district's general fund?

Accepted Answer

To account for the primary day-to-day operating expenses of the district

Answer

To account for long-term capital improvement projects

Answer

To manage federal grant funding separately from local revenue

Answer

To track debt service payments on outstanding bonds

Question 2

Which budget format organizes resource allocation by specific programs and their associated costs rather than solely by object codes?

Accepted Answer

Program-based budgeting

Answer

Line-item budgeting

Answer

Zero-based budgeting

Answer

Incremental budgeting

Question 3

During which phase of the budget cycle is the proposed budget formally presented to the board of education for approval?

Accepted Answer

Budget adoption

Answer

Budget development

Answer

Budget execution

Answer

Budget audit

Question 4

In school district accounting, what does the term 'encumbrance' refer to?

Accepted Answer

A commitment of funds for a purchase order or contract not yet paid

Answer

A penalty assessed for overspending a budget line item

Answer

Revenue that has been received but not yet deposited into the fund

Answer

A debt obligation carried forward from a prior fiscal year

Question 5

Which federal legislation most directly governs Title I, Part A funding allocation to schools serving high concentrations of students from low-income families?

Accepted Answer

ESSA

Answer

IDEA

Answer

FERPA

Answer

ADA

Question 6

Zero-based budgeting is best defined as a process in which:

Accepted Answer

Every expenditure must be justified from a zero base each budget cycle

Answer

Last year's figures are used as a baseline and adjusted for inflation

Answer

An equal dollar amount is allocated to every school regardless of enrollment

Answer

All budget lines are reduced by a fixed percentage to generate savings

Question 7

For most school districts in the United States, the primary local revenue source is:

Accepted Answer

Property taxes

Answer

State income tax allocations

Answer

Federal impact aid payments

Answer

Local sales tax revenue