Efficiency and effectiveness in school financial practice

rimley, Verstengen, and Garfield (2008) noted, “Efficiency and effectiveness in school financial practice require a sound system of accounting for income and expenditures” (p. 330). Schools must adopt an accounting system that will provide and maintain records of all income and expenses. An annual budget must be developed and then funds secured through different federal, state, and local sources. The funds must be matched to the budget and any shortfalls must result in reduction of spending. This may require programs to be cut or other cost-cutting measures to ensure the allocated funds are adequate to cover required programs, salaries, and facilities maintenance. Accounting practices include receiving, allocating, and complying with accounting funding principles. Operating budgeting and accounting procedures ensure safety and security of funds, maintain accurate records of transactions, enlist oversight through audits, and support local, state and federal requirements.

Required Reading:
Please see each Activity for Required Readings.

Financial issues in schools
Main Task – Research Finance Issues in Schools:
Review the Learning Outcomes and Course Concepts provided earlier in this syllabus. Reflect on your knowledge of financing issues in schools, as revealed in previous assignments in this course. Based on this review and reflection, discuss the impact of any two landmark court cases which have transformed school funding formulas, either on a national, state or local level. Prepare a research paper that integrates course readings and citations from other professional literature. Discuss the impact the case(s) had on present funding formulas in modern day budgets.

This paper must demonstrate comprehension, application, analysis, assessment, and integration of the research. The Signature Assignment and reflective essay should show how you (a) demonstrate mastery of the course material, and (b) apply this knowledge to the real world.

You may select from this list below or any case(s) which have transformed school funding.
1. Serrano v. Priest
2. Abbott v. Burke
3. Rose v. Council for Better Education,
4. Montoy, et al. v. State of Kansas, et al.,
Suggested Outline:
Table of Contents
Introduction/Background Information
Problem Statement
Literature Review (5-7 sources)
Conclusions/Recommendations
References
Appendices (if relevant)

Criteria:

Length: 12-15 pages
References: A minimum of 10 scholarly resources
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