Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
43 Cards in this Set
- Front
- Back
|
Which of the following is the state aid formula type adopted by NC public K-12 schools. This particular formula type allocates state aid inversely based on a particular school district's local ability to pay. Property-poor public school districts proportionally receive more state aid and property-rich school districts receive comparatively less state aid.
A. Multi-tier grant B. Flat grant C. Equalization grant D. Full state funding grant |
C
|
|
|
According to NC uniform chart of accounts, a fund code of "4" refers to which of the following:
A. state B. federal C. local D. capital outlay |
D
|
|
|
Compensatory, bilingual, early childhood, and SpEd programs are all examples of this particular form of equity based school finance adjustment?
A. horizontal equity B. vertical equity C. cohort student survival analysis C. merit pay |
B
|
|
|
Equity, efficiency and political acceptance are all dimensions for evaluating taxes for the purpose of school revenue. Which of the following represents the fourth dimension for evaluating taxes for school revenue?
A. regressive taxation B. responsiveness to economic change C. tax yield D. progressive taxation |
B
|
|
|
Two people own homes of equal property value within the same neighborhood and pay identical property taxes. This school finance equity example reflects the principal that a tax should treat all individuals equally. Specifically, this refers to what school finance principle?
A. consumption B. vertical equity C. benefit principle D. horizontal equity |
D
|
|
|
In NC, how is ADM specifically calculated on a monthly basis?
A. Sum of days in membership for non-violating students in local school districts divided by the # of days in a school month B. sum of the students in a local district divided by the # of days in a school month. C. The # of days in a school month divided by the average student monthly attendance. D. Sum of the average student monthly attendance divided by the # of days in a school month. |
A
|
|
|
Which school fund source is usually characterized as being both highly time sensitive as well as being highly restrictive, or earmarked for specific school related expenses?
A. federal B. state C. local D. private |
A
|
|
|
Under the NC uniform chart of accounts, activities or actions that are performed to accomplish the objectives of a local school district are referred to as what type of codes? Instructional programs and supporting services programs are two specific examples.
A. fund codes B. purpose codes C. object codes D. sinking funds |
B
|
|
|
In NC the most significant revenue source for public K-12 schools comes from what tax source?
A. individual sales tax B. Title 1 money C. Local residential property tax D. Commercial taxes |
C
|
|
|
In NC, ______ funding for exceptional children, which is currently capped at approximately 12.% ADM has increased to over 30% compared to general education funding, which has risen approximately 28%.
A. federal B. state C. local D. private sources |
B
|
|
|
According to the typical public K-12 school budget calendar, the school budgetary fiscal year typically begins during what month?
A. October B. July C. December D. January |
B
|
|
|
Which of the following is considered a disadvantage of weighted-pupil formulas?
A. they enhance district general funds rather than categorical funds B. They are not good at containing costs over time C. The resulting average costs of the formula are too high D. The resulting marginal costs of the formula are too high |
B
|
|
|
Under the NC uniform chart of accounts, a fund code of "5" refers specifically to which fund?
A. state B. local C. federal D. mulitple enterprise |
D
|
|
|
According to the NC uniform chart of accounts, which of the following basic account structures refers to the purpose the budgetary activity exists?
A. fund B. function C. object D. horizontal equity |
B
|
|
|
Which of the following is considered an advantage of weighted pupil formulas?
A. the enhance district general funds rather than categorical funds B. They are not good at containing costs over time C. The resulting average costs of the formula are too high D. The resulting marginal costs of the formula are too high |
A
|
|
|
According to the NC uniform chart accounts, trust and agency funds are assigned which fund code number?
A. 2 B. 4 C. 6 D. 8 |
C
|
|
|
In NC, approximately what percentage of school fund expenditures are ultimately spent on personnel or staff related expenses?
A. 10-15% B. 20-25% C. 45-50% D. 80-85% |
D
|
|
|
In order to adequately measure the staffing needs of an LEA in NC public schools, the general formula of school budgeting for personnel is comprised of a measure of student enrollment (i.e. ADM) and what other factor?
A. average teacher age B. average teacher experience C. approved teacher-student ratio D. approved salary schedule range |
D
|
|
|
In a school expenditure structure, the most SPECIFIC expenditure classification is in the form of the actual item or service acquired. This is called what type of expenditure structure?
A. fund B. program C. function D. object |
D
|
|
|
Food services, lab fees, activity fees, and busing are all modern examples of this non-tax based revenue source used increasingly to supplement a local school district's budget.
A. investment returns B. business partnerships C. user fees D. volunteers |
C
|
|
|
Which of the following would most likely reflect a school expense originating from a federal source?
A. school transportation B. capital improvements C. lunch expenses for disadvantaged students D. school textbooks |
C
|
|
|
Which of the following is not a major force impacting fiscal allocations of funds to NC public K-12 schools?
A. SpEd B. ADM C. Socio-economic level of student families D. salaries |
D
|
|
|
In NC the primary measure of student attendance in public K-12 schools is calculated by:
A. full-time equivalent B. part-time equivalent C. ADM D. ADA |
C
|
|
|
In NC school finance, which of the following allotment types is used most infrequently?
A. position B. categorical C. dollar D. capital |
C
|
|
|
In terms of state aid, fiscal adjustments for funding compensatory programs, such as F/R lunch programs would constitute adhering to which of the following school finance principals?
A. horizontal equity B. vertical equity C. capital equity D. tax equity |
B
|
|
|
According to the NC uniform chart of accounts, a fund code originating from the federal gov't would be assigned a fund code accounting code, or number ____?
A. 1 B. 2 C. 3 D. 4 |
C
|
|
|
In NC, the largest allotment category is derived from which of the following?
A. dollar B. categorical C. position D. sinking funds |
C
|
|
|
Using the NC uniform chart of accounts, you see a fund code of "2" referring to recent expenses at your school. From what specific source is a fund code of "2"?
A. SPSF B. local C. federal D. capital |
B
|
|
|
In NC, the federal revenue share of funding the state's K-12 school is currently approximately what %?
A. 80% B. 8% C. 50% D. 25% |
B
|
|
|
According to the NC school aid formula, which of the following statements is true concerning the funding of compensatory education programs?
A. school that meet expected growth on the ABC's are eligible for incentive or merit pay. B. The fund is consolidated into one budgetary line item and each system receives the dollar equivalent of one resource officer per high school C. Supplemental funding is increased for low-wealth counties in NC D. Commercial property is taxed double compared to local residential property |
B
|
|
|
In terms of school finance structure, NC is unique compared to many other states based on which of the following school finance characterisitics?
A. NC has both the highest rural and poor student population B. NC receives the highest level of federal funding C. NC allocated more state dollars to public education compared to most other states D. NC has one of the highest share of local contributions to K-12 schools |
C
|
|
|
According to the NC uniform chart of accounts, which of the following codes referred to the the actual item or service being purchased?
A. fund B. function C. purpose D. object |
D
|
|
|
According to the NC uniform chart of accounts, which of the following is NOT a subcategory of a function code?
A. assets B. revenues C. expenditures D. liabilities, reserves, and balances |
C
|
|
|
Using the uniform chart of accoutns, a fund code of "1" would refer to which of the following fund codes?
A. capital B. federal C. local D. state |
D
|
|
|
Which of the following terms describes a fiduciary fund school fund structure whereby a school is given monies by a private source and the school and/or district is given primary fiscal control in the disbursement of the funds?
A. sinking funds B. trusteeship C. encumbrance D. merit pay |
B
|
|
|
Using the NC uniform chart of accounts, which of the following is NOT one of the named components associated with building a school funding account?
A. object B. PRC C. fund D. disbursement |
D
|
|
|
Based on primary school fund structures, the majority of school fund accounts originate from which of the following sources?
A. governmental B. proprietary C. fiduciary D. sub-prime |
A
|
|
|
In NC, state monies used for purchasing teaching assistants, textbooks, and staff development are all examples of this particular type of state aid allotment?
A. categorical B. dollar C. position D. petty cash |
B
|
|
|
NC public K-12 schools adopt a new school budge cycle every ____ years?
A. one B. two C. three D. four |
B
|
|
|
Which of the following terms refers to a school's fiscal obligation to pay for certain expenses without having formally paid for these items?
A. tax yield B. sinking funds C. encumbrance D. free-rider |
C
|
|
|
According to NC's salary schedule for teachers, salaries, adjusted for inflation, begin to decrease beginning approximately in what year of being a teacher?
A. 2 B. 4 C. 15 D. 8 |
D
|
|
|
Which of the following school fund structures refer to non-gov't monies, fees, or services that require internal billing?
A. gov't funds B. fiduciary funds C. proprietary funds D. agency funds |
C
|
|
|
Which tax term refers to the revenue produced by a particular tax and is reflected in the following formula: tax rate multiplied by the tax base?
A. tax impact B. tax incidence C. tax yield D. tax shifting |
C
|
