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Dr. Stevens Exam Review
Time to Study!
147
Finance
Graduate
04/11/2010

Additional Finance Flashcards

 


 

Cards

Term
Chairman and CEO of DPI State Board of Education
Definition
William Harrison
Term
% of 4 year cohort graduation rate
Definition
70
Term
State Superintendent of Public Instruction
Definition
June Atkinson
Term
Number of buses Operated
Definition
14000
Term
Total Textbook Sales
Definition
$80,000,000
Term
NC Average Estimated Teacher Salary
Definition
$48000
Term
Total number of NC Administrative Units
Definition
115
Term
Total Number of County Units
Definition
100
Term
Total Number of City Units
Definition
15
Term
% of current state expedintures
Definition
66%
Term
% of current federal expeditures
Definition
10%
Term
% of current local expeditures
Definition
24.4%
Term
In 2007-2008 lottery revenue for education totaled over
Definition
$350 million
Term
LOttery funds do not require local matching and may not be used for...
Definition
technology!
Term
Funds are distributed to the LEAs based on county property tax and county property tax rate of the _________average property tax rate.
Definition
state
Term
Lottery revenue distributions were in these 4 categories
Definition
college scholarships, more-at-four, school construction, class-size reduction
Term
Lottery funds are distributed by
Definition

50% prizes

15% to admin

35% schools

Term
NC providers supplemental funding to systems whose ability to generate local revenue per_____is below the state average.
Definition
student
Term
Factors for low wealth schools are
Definition
property tax base, square miles in county, per capita income
Term
In 2008-2009, there were ________low wealth counties in NC.
Definition
70
Term
Name the 2 NC sentators
Definition

Richard Burr

Kay Hagan

Term
Name 4 NC house of representatives
Definition

Virginia Foxx

Walter Jones

Brad Miller

David Price

Term
Name the NC Superintendent of Public Instruction
Definition
June Atkinson
Term
Name the NC Labor commissioner
Definition
Cherie Berie
Term
Name the NC attorney general
Definition
Roy Cooper
Term
Name the NC treasurer
Definition
Janet Cowell
Term
Name the NC Lt. Governor
Definition
Walter Dalton
Term
Name the NC insurance commissioner
Definition
Wayne Goodwin
Term
Name the secretary of state for NC
Definition
Elaine Marshall
Term
Name the governor of NC
Definition
Beverly Perdue
Term
Name the NC commissioner of agriculture
Definition
Steven Troxler
Term
Name the NC auditor
Definition
Beth Wood
Term
This budget outlines funding needed for new initiatives and to meet new needs.
Definition
Continutation Budget
Term
What are two types of budget requests?
Definition
Continuation and Expansion
Term
Continuation and expansion budgets are submitted to the governor who submits to the ___________.
Definition
General Assembly
Term
The General Assembly began _______________Funding in 1991 to help increase disparities in local supplements and local funding because of differences in tax base in different communities.
Definition
Low Wealth Supplemental
Term

The NC Lottery revenue is allocated as follows:

______%prizes

_____%lottery administration

________%programs

Definition

50% prizes

15% lottery administration

35% programs

Term
NC has experienced a 31% increase in ___________since 1995.
Definition
population
Term
NC is now the ______most populous state in the nation.
Definition
10th
Term
Of the approximately 15000 school districts nationwide, over _______of the school boards have authority to raise their own revenue.
Definition
90%
Term
School districts in most states are independent units of_____________.
Definition
government
Term
Maryland, NC, and Virgina represent organizational exceptions as these states school boards are _______of general governments.
Definition
dependent
Term
School boards are the only elected governing bodies in NC that ________have the ability to raise some or all of their funds.
Definition
DO NOT
Term
Each year school boards have taken legal action against county commissions resulting in large and unncessary _____on behalf of both boards.
Definition
legal fees
Term
In 2005 _________ruled unanimously that under the state's constitution NC public schools are entitled to proceeds collected for certain fines and forfeitures, including civil penalties resulting from on-campus vehicle parking and registration violations.
Definition
NC Supreme Court
Term
The allotment per ADM in grades K-12 for textbooks is___________.
Definition
$67.15
Term
Under NCLB this provides funds to local school districts to improve the education of disadvantaged students,____________.
Definition
Title I
Term
Title I is the largest federal funding program supporting elementary and secondary education.  Funds are distributed according to a set of four separate formulas:
Definition

Basic Grant formula

Concentration Grant Formula

Targeted Formula

Education Finance Incentive Grant Formula

Term
NC provides supplemental funding to systems whose ability to generate local revenue per student is below the state average called____________.
Definition
Low Wealth Allotment
Term
There are _______low wealth counties in NC.
Definition
70
Term
Exceptional children/academically/intellectually gifted funding per child is for children with disabilities school-aged 5 thru 21 counted on ___________child count.
Definition
April 1
Term
The initial state allotment for technology is ______________per ADM but more funds are actually appropriated.
Definition
$0.26
Term
Technology budget category 015 has over _______different subcategories.
Definition
130
Term
The 4 main technology categories are personnel, staff development, communications, and ______________ for technology.
Definition
instructional supplies
Term
Small county allotment is provided to those school systems with an ADM less than _________or with ADM between ______and 4000 whose county adjusted tax base per student is below the sate adjusted property tax base per student.
Definition

3, 175

3, 175

Term
In 2008-2009 there were ______counties that received small county allotments. 
Definition
29
Term
For the 2009-2010 school year ______percent of the public schools in NC met AYP while _______% did not.
Definition

71%

29%

Term
2009-2010 school year was the _____year of the NC ABCs report.
Definition
13th
Term
The state board of education was directed to place a ________moratorium on the ABCs bonuses for the 2009-2010 fiscal year.
Definition
one-year
Term
___________schools was designed to help schools improve their overall educational programs by providing resources, training and support called the NC Turnaround Program.
Definition
High Priority
Term
High priority schools began with 2005-2006 school year and will be phased out on __________________.
Definition
June 30, 2010.
Term
Low performing schools are defined by the ABCs Accountability system as being schools with fewer than _________% of the students' scores at or above achievement Level III and making less than Expected Growth.
Definition
50
Term
A continually low-performing school is a school that has received State-mandated assistance and has been designated by the State Board as low performing for at least _____of______ consecutive years.
Definition
2 of 3
Term
In 1975 the General Assembly enacted a law requiring a ____________system for all local school units effective July 1, 1976.
Definition
Uniform
Term
The Uniform chart provides the Legislature, general public, and other agencies with a consistent guideline of how funds are used by various groups obtaining _____________.
Definition
public funds.
Term
The fund code for state funds is________
Definition
1
Term
The fund code for local funds is___
Definition
2.
Term
The fund code for federal funds is______
Definition
3.
Term
The fund code for capital funds is__________
Definition
4.
Term
The fund code for child nutrition funds is_____.
Definition
5.
Term
Other sources of funding codes are as follows:
Definition
6,7,8,9.
Term
The purpose code for funding instructional programs is__________.
Definition
5000
Term
The purpose code for funding support services is__________.
Definition
6000
Term
The purpose code for funding community service programs is__________.
Definition
7000
Term
The purpose code for funding non-programmed charges is__________.
Definition
8000
Term
The purpose code for funding capital outlay is__________.
Definition
9000
Term
The object code for funding salaries is__________.
Definition
100 series
Term
The object code for funding benefits is__________
Definition
200 series
Term
The object code for funding purchased services is__________
Definition
300 series
Term
The object code for funding supplies and materials is__________
Definition
400 series
Term
The object code for funding equipment and captial outlay is__________
Definition
500 series
Term

In the following finance code what is the does the first number respresent:

1-5110-001-125

Definition
The first number respresents that the source if from State funds.
Term

In the following finance code what is the does the 2nd series of numbers respresent:

1-5110-001-125

Definition

The function and purpose.

5110 would mean instructional programs.

Term

In the following finance code what is the does the 3rd series of numbers respresent:

1-5110-001-125

Definition
001 would represent the program in this case, classroom teachers.
Term

In the following finance code what is the does the 4th series of numbers respresent:

1-5110-001-125

Definition
4th series of numbers would represent the object codes.  Anything starting with a 1 in the 4th series is for salaries.
Term
All expenditures must have an _________digit account code!
Definition
11
Term
Equal protection analysis arise in 2 basic contexts, one occurs when a __________constitutional right is infringed, particularly those listed in the Bill of Rights and those the court has deemed a fundamental right protected by the 14th amendment.
Definition
fundamental
Term
Equal protection analysis arise in two basic contexts, one when the government action involves the useof a ______________such as race or national origin that may render it void under the Equal Protection Clause.
Definition
suspect classification
Term
The Equal Protection Clause of the _____________Amendment says no State shall deny to any person within it jurisdiction the equal protection of the laws.
Definition
14th
Term
It is part of ______________analysis that a federal court will employ when either a suspect class or a fundamental right is involved.
Definition
strict scrutiny.
Term
It is a form of constitutional review tha tis used to determine the validity of _______that discriminates on the basis of suspect categories, such as race.
Definition
legislation
Term
Currently the only suspect classficiation to which strict scrutiny applies are race, religion, and ________.Sexual orientation has been given a quasi-suspect classification.
Definition
national origin
Term
Rational basis is the lowest form of ________ ___________.
Definition
judicial scrutiny
Term
Judicial scrutiny is used in cases where a plantiff alleges that the legislature has made an arbitrary or _________ ____________.
Definition
irrational decision
Term
The rational basis test involves claims that do not involve a _________ _____and involve a liberty interest rather than a fundamental right.
Definition
suspect class.
Term
The __________Case was first initiated in 1968 in the Superior Court of Los Angeles County, California.
Definition
Serrano
Term
The Serrano Case caused states to analyze their own school ________structure as it relates to equalizing funding and to local gov'ts ability to pay.
Definition
finance
Term
The Serrano Case established important principles that have framed the continuing struggle for educational __________in states.
Definition
equity
Term
The ____________Case was initiated in Texas in federal district court in 1968.
Definition
San Antonio
Term
During the San Antonio case it was ruled that the system of funding education does not violate the US Consitution because the Constitution does not mention _________. Funding of education is a state decision.
Definition
education
Term
The San Antonio case enacted a series of _______reforms but failed to reduce effectively the interdistrict inequities in access to resources per pupil expenditures and tax rate.
Definition
equalization
Term
The ________court case was first initiated in the New Jersey Superior Court in 1970 and was based on a 98 year old constitutional mandate that all children get a thorough and efficient free public educaiton.
Definition
Robinson
Term
The Robinson Case gave states the ultimate responsibility for ensuring that students receive a _______and _______education.
Definition
thorough and efficient
Term
The Robinson case , since 1973 has initiated ________cases related to thorough and efficient education with six different governors in office.
Definition
19
Term
The __________case initiated in 1994 when a lawsuit was filed by NC parent, children and school districts in 5 low-wealth rural counties against the state of NC.  It was renamed in the US Supreme court in 1997.
Definition
Leandro
Term
The Leandro case ruled that all school districts provide an ______education and a quality education for all education.
Definition
adequate
Term
In the Leandro case, Judge Manning stated that both the _____and State are responsibile for correcting violations to student success, ultimately putting responsibility on the State.
Definition
LEA
Term
The basis of school finance litigation has begun to shift from equity and fairness to securing the resources necessary to provide an _________ _________ to all students.
Definition
adequate educaiton
Term
____________lawsuits focus on how much money is needed to provide all students in a state with a constitutionally guaranteed education.
Definition
Adequacy
Term
_________________ suits seek a higher level of funding for all students and thus avoid pitting districts against one another.
Definition
Adequacy
Term
The fiscal year begins on _______and ends on __________.
Definition

July 1

June 30

Term
The superintendent must submit the budget and the budget message to the board of education not later than _________.
Definition
May 1st
Term
The board of county commissioners shall complete its action on the school budget on or before ____or such later date as may be agreeable to the board of education.
Definition
July 1
Term
Each local administrative unit shall establish and maintain an accounting system design to show in detail its__________,_______,_______,_________, and ________.
Definition
assests, liabilities, equities, revenues, and expenditures
Term
Local administrative units shall use the __________ accrual basis of accounting in recording transactions.
Definition
modified
Term
A local school administrative unit may deposit at interest or invest all or part of the _______ balance of any fund.
Definition
cash
Term
The _________officer shall manage investments subject to whatever restrictions and direction s the Board of Education may impose.
Definition
finance
Term
Each officer, employee and agent of a local admin unit or individual school whose duty it is to collect or receive any taxes or other moneys shall deposit his collections and receipts_____.
Definition
daily
Term
If the Board of Education give its approval, deposits shall be required only whent eh moneys on hand amount to as much as $_______, but in any event a deposit shall be made on the _______business day of the month.
Definition

$250

last

Term
Each school finance officer shall report to the Secretary of the Local Government Commission on _________and _______ of each year.
Definition

January 1

July 1

Term
One duty of a principal is to ________ and _______ pupils.
Definition

grade

classify

Term
The Principal should improve ________and _________spirit.
Definition

instruction

community

Term
The Principal should conduct _____ drills and inspect for fire hazards.
Definition
fire
Term
The Principal is to protect school _________.
Definition
property
Term
The principal shall report certain acts to_______ ____________.
Definition
Law Enforcement.
Term
The Principal is to _________student records.
Definition
transfer
Term
The Principal is to establish school ____________teams.
Definition
improvment
Term
State funds allocated for classroom materials/instructional supplies/equipment may be transferred only for the purchase of __________.
Definition
textbooks.
Term
State funds allocated for textbooks may be transferred for the purchase of instructional supplies, instructional equipment, or other __________materials.
Definition
classroom
Term
State funds allocated for noninstructional support may be transferred for ______positions only.
Definition
teacher
Term
Representatives to the SIP team shall be selected by _____ballot.
Definition
secret
Term
Parents serving on the SIP team shall reflect the ________and socioeconomic composition of the students enrolled in that school and shall not be members of the building level staff.
Definition
racial
Term
The SIP shall require kindergarten and first grade to notify parents or guardians when their chidl is not _____at grade level by the time the child enters second grade.
Definition
reading
Term
The SIP may include a decision to use __________funds.
Definition
state
Term
The SIP shall include a plan to provide ________lunch period for every teacher on  a daily basis or as otherwise approved by the SIP team.
Definition
duty-free
Term
The SIP shall include a plan to provide duty-free instructional planning time for every teacher, with the goal of providing at least _____ hours of planning time each week.
Definition
five
Term
By ______of each year, the principal shall disclose to all affected personnel the total allocation of all funds available to staff development.
Definition
October 1
Term
Lottery funds are based on ADM as a _________of state ADM and property tax rate based on statewide average.
Definition
percentage
Term
Your LEA Name and Number?
Definition

Depends on answer
Carteret County

160

Term
Your LEA Total Lottery Distributions....
Definition

Depends

Carteret County $810,535

Term
True/False: The Purchase of land for public school buildings is an allowable type of captial outlay.
Definition
True
Term

Planning design fees funds can be use as an allowable type of captial outlay projects.

True or False

Definition
true
Term

Construction funds are an allowable type of captial outlay project.

True or False

Definition
true
Term

Renovation and enlargement are allowable use of funds for capital outlay projects.

True or False

Definition
True
Term

Repair is a use of funds for a captial outlay project.

true or false

Definition
true
Term

School technology (from tax funds not lottery) are an allowable type of fund for capital outlay.

True or False

Definition
true
Term
A continualy low performing school is a school that received state mandated assistance and has been designated by the State Board as low peforming at least __of____consecutive years.
Definition
2 of 3
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