• Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

Card Range To Study

through

image

Play button

image

Play button

image

Progress

1/177

Click to flip

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;

177 Cards in this Set

  • Front
  • Back
Column1
Column2
Handout #1
Human Capital
Educated persons who are the products of our educational system and who are used by society to move our country forward both economically and socially.
Virtuous Circle
more education----> more wealth--------> more investment ---------> more education
Free Rider
A consumer who enjoys a good or service that is provided to the community as a whole without paying for that service. There is large social benefit if education allows for free riders.
Taxation
The governmental process of assessing and collecting money from private sources in order to provide public benefits.
Equity
Fairness in expenditures per pupil and fairness in the treatment of taxpayers.
Adequacy
The measure of a state school finance systems ability to provide the financial resources necessary to fulfill its educational responsibilities.
Benefit Principle
Because all of society benefits to about the same degree due to public education, the costs associated with that education should be paid by all members of society in terms of their ability to pay.
Cost-Quality Relationship
The assertion that there is a positive relationship between the amount of money spent on education and the quality of the education produced.
Diminishing Marginal Utility
The public perception of the relative value of education decreases as the level of education and its relative cost increases.
Value Added
Competition generated by a free market without government interference provides the best benefit for society. Limited compulsory education, local control, and competition are the driving forces behind the education system.
Opportunity Costs
Costs paid by a consumer (student) in order to access the benefits of a particular program (education). These costs may include tuition, books, housing, fees, and transportation.
Labor Intensive
An organization whose resources are primarily used to hire qualified persons to successfully accomplish its mission.
Positive Externality
The benefits of an activity (education) are not limited to the individuals directly affected by that activity (students), but are also distributed to and enjoyed by society as a whole.
Negative Externality
The costs associated with addressing the negative results of an activity presumed to be beneficial to society are assessed on society as a whole, not just on those directly affected by the activity.
Demographics
The study of the various characteristics of a specific group of people or of society in general. Examples of these characteristics include age. sex. ethnicity, level of education, occupation, and annual income.
Inflation
A measure of the increase in cost over time of products and services purchased by citizens.
Social Indicators
Specific demographic characteristics that are regularly studied to gain an understanding of the quality of life enjoyed by various groups of citizens.
Current Dollars
The measure of the cost of various products and/or services over a period of time using the price paid for the items at the time of purchase.
Constant Dollars
The measure of the cost of various products and/or services over a period of time after adjusting the original price paid for the items to reflect the effects of inflation.
Accountability
The process of ensuring that the education system produces objective information and proof that schools are achieving their intended objectives and using tax revenues efficiently.
Literacy
A measure of the ability to effectively communicate and understand various types of written and spoken communication.
Numeracy
A measure of the ability to effectively communicate and understand various types of mathematical concepts and relationships.
Mill
The assessment of property taxes based on a specific dollar amount per $1,000 of assessed property value.
Mill Levy
The specific dollar amount per $1,000 of assessed property value that is used to raise revenue for various government functions. This is usually determined by: (see mill lev equation) D／100 =M／1000= Local Effort (Budget) ／AV (District = Indiv. Tax／AV
Equity
Fairness in expenditures per pupil and fairness in the treatment of taxpayers.
Weighted Pupil
Cost differentials in a state's finance formula to compensate for the additional cost to educate specific students because of special circumstances or characteristics.
Market Value
The selling value of a piece of property as determined by a recent sale or by the county assessor.
Assessed Value
The value of a piece of property on which taxes are actually paid, usually expressed as a percentage of the market value.
Proportional Tax
An income-based revenue system in which each individual contributes the same percentage of their adjusted income.
Progressive Tax
An income-based revenue system in which an individual's relative contribution increases as the individual's adjusted income increases.
Regressive Tax
An income-based revenue system in which an individual's relative contribution increases as the individual's adjusted income decreases.
Flat Grant
A state school finance system in which state funds are provided on a per pupil, per teacher, or percentage basis.
Foundation Program
A state school finance system in which all districts levy the same amount of mills and the state guarantees a specific amount of revenue on a per pupil basis.
ADM
"Average Daily Membership. ADM= Sum of pupils on the rolls each day ／ Total number of days
ADA
"Average Daily Attendance. ADA = Sum of pupils in attendance each day ／ Total number of days
Wealth Tax
A tax based on the net worth of an individual or family - net worth equals all assets minus all liabilities.
Minimum Program
A state-guaranteed (or determined) basic education program that each district must provide for its students.
Handout #2
Full-State Funding
A state school finance system in which the state takes complete financial responsibility for providing a public school program.
Nearly Full-State Funding
A full state funding program with limited local financial options to go beyond the state-sponsored program.
District Power Equalization
A state school finance system in which each district is guaranteed an equal amount of revenue for each mill of taxes levied. The "power" to raise revenue is equalized regardless of the assessed value of the district. The state usually sets a maximum and/or a minimum amount of mills to be levied, or a minimum and/or maximum budget per pupil.
Equalized Percentage Matching
A power equalization system without the state minimums and/or maximums. Each local district determines the limits of the local effort program.
Weighting Factor
Cost differentials in a state's finance formula to compensate for the additional cost to educate specific students because of special circumstances or characteristics. (same as weighted pupil)
WPU
Weighted Pupil Unit. The sum of all pupil units and weighted pupil units in a district is used to determine the total district revenue.
Sparsity
A student weighting factor usually used in rural areas that increases in value as the enrollment of the district decreases.
Density
A student weighting factor usually used in urban areas that increases in value as the number of students increases.
Rate Bill
An obsolete requirement that each pupil pay a specific amount of money to attend school.
Fee
An amount of money paid by a student for a specific educational service or program.
Tuition
An all-inclusive amount of money paid to cover the cost of a general education. It is usually paid annually for K-12 education or by the semester for post-secondary education.
Tax-Shifting
The practice of passing laws to create tax exemptions for special classes of property or people.
Tax-Erosion
The practice of allowing the taxable valuation of the district, or municipality, to be reduced either through government action or natural happenings.
Ad Valorem
Property tax that is levied against the owner of real or personal property.
Real Property
Property that is not readily movable such as land, buildings, and improvements.
Personal Property
Property that is movable. Tangible personal property is machinery, livestock, or automobiles. Non-tangible personal property is money, stocks, or bonds.
Income Tax
A tax, usually progressive, that is levied on the annual income of a person or business.
Sales Tax
A tax, usually considered to be regressive, that is levied as a percentage of the selling value of certain goods and/or services.
Sumptuary Tax
A tax on goods or services that are generally held to be against the public interest - e.g. alcohol or tobacco.
Severance Tax
A tax imposed on the value of natural products (oil, gas, timber, etc.) that are removed from the ground of water.
Site-Value Tax
A tax on the actual value of the land, whether improved or not.
Value-Added Tax
A tax on the value of goods at each transaction level from production to consumption.
Lottery
A legalized system of gambling in which the profit goes back to the state.
Tax Rate
The fraction (usually mills or percent) of taxes paid, compared with the total value of the specific resource that is taxed.
Tax Base
The total value of the specific resource that is being taxed.
Handout #3
School District
The basic administrative unit for the operation of public schools in this country.
School Board
The group of people, usually elected, who govern the school district.
Administrator
An individual, or several individuals, hired by the school board to oversee the day-to-day operations of the school district.
Privatization
The practice by a school board of turning over the operation of a school district to a for-profit company.
Fiscal Independence
A system of governance in which the school district acts independently of local city or county governments when making fiscal decisions.
Consolidation
A school district reorganization process that combines two or more small districts into one larger district.
Reorganization
Changing the organizational pattern of school districts in an effort to increase efficiency. This may involve school district consolidation, sharing of administrators, or other actions.
Tax Shifting
The practice of passing laws to create exemptions for special classes of property or people.
Flat Grants
A state school finance system in which state funds provided on a per pupil, per teacher, or percentage basis.
Foundation Program
A state school finance system in which all districts levy the same amount of mills and the state guarantees a specific amount of revenue on a per pupil basis.
Minimum Program
A state guaranteed (or determined) basic education foundation program that each district must provide for its students.
Modified Program - Modified Foundation Program
"A program requiring a uniform tax levy that accomplishes: · Leveling Down - funds from the top 50th percentile assessed value per pupil (AVPP) school districts are distributed to the bottom 50th percentile AVPP districts in an attempt to equalize the revenue per pupil. This usually results in the to 50th percentile AVPP districts reducing their revenue per pupil, hence, 'leveling down’.
• Leveling Up-similar to leveling down, except that the bottom 50th percentile districts receive additional state aid that allows them to have revenue levels that approach the level of the top 50th percentile AVPP districts.
District Power Equalization (DPE)
A school finance program that guarantees a specific amount of revenue per weighted pupil for each mill levied by the district. Property poor districts receive state aid to make up the difference between mill levy revenue and the state guarantee. Usually the state specifies upper and lower mill levy limits to prevent wide variances in revenue per pupil.
Equalized Percentage Matching (EPM)
A district power equalization program without any state imposed maximum or minimum mill levy. The local district determines the limits of the local effort program.
Weighted Pupil Unit (WPU)
The specific number assigned to regular students and students with special characteristics- For example, in Kansas, a regular student has a weighted pupil unit of 1.0, while an at-risk student has a weighted pupil unit of 0.2 (plus a regular weighting of 1.0).
Effort
The willingness of citizens, either of a district or the state, to tax themselves to provide educational programs.
Categorical Aid
Aid given to students with specific characteristics whose education program requires additional financial resources.
Basic Program
A state designed finance system that provides a limited, but functional, education to all students.
Recapture
The part of a state school finance program that requires wealthy districts to levy a specific mill levy and send any dollars not used for local revenues to the state for distribution to other districts in the state.
Rate Bill
An obsolete requirement that each pupil pay a specific amount of money to attend school.
Early Educational Development in the states
"• The tenth amendment relegates to the states all things not addressed in the constitution.
• The word 'education’ does not appear in the constitution.
• Local units of education developed first.
• State units of education grew as a collective concern and feeling of responsibility grew at the state level.
• One school of thought is that local education involvement grew because education was left to the states - citizens could not wait on the federal government to help.
Early School Finance Development
• Land Grants-the Northwest Ordinances of 1785 and 1787 established townships with 36 sections and set aside the revenue of section 16 for the local school system.
• This provided limited, short-term revenue.
• In order to provide a more stable source of revenue, local groups began to tax land and property in the late 1800's and early 1900's.
Development of School Finance Theory
Local Responsibility - provided some help to get schools started. However, as the wealth differences grew in local communities, poor schools were less able to provide even a basic education. It quickly became clear that state support would be needed if all students in the state had the opportunity for a good education.
Elwood Cubberly
• Elwood Cubberly - In 1905, he saw the existing inequalities in flat grants and other plans. His philosophy was that all children of a state were entitled to equality of educational opportunity. He developed the Reward-For-Effort Principle that gave additional state money to districts that increased their educational effort by hiring more teachers, lengthened the school year, or implemented other extensions beyond the state minimum program. Unfortunately, Reward-for-Effort created many of the same inequities that Cubberly attempted to correct. Wealthy districts who have the ability to pay for extended opportunities received additional state aid, while poor districts had to struggle the maintain basic programs.
Reward-For-Effort Principle
Reward-For-Effort Principle that gave additional state money to districts that increased their educational effort by hiring more teachers, lengthened the school year, or implemented other extensions beyond the state minimum program.
Foundation Program
This plan was advocated by George D. Strayer and Robert M. Haig in the 1920's.The Strayer-Haig foundation concept requires that each local district levy the same amount of mills needed in the wealthy districts in order for the wealthy districts to provide a foundation, or minimum, program. Local districts also have the option to levy additional mills to provide programs above the state defined foundation program.
George D. Strayer and Robert M. Haig
• Foundation Program -This plan was advocated by George D. Strayer and Robert M. Haig in the 1920's. Requires that each local district levy the same amount of mills needed in the wealthy districts in order for the wealthy districts to provide a foundation, or minimum, program. Local districts also have the option to levy additional mills to provide programs above the state defined foundation program.
Foundation Program Refinement
Foundation Program Refinement-Also in the 1920’s and l930’s, Paul Mort criticized Cubberly's reward for effort principle because it conflicted with the concept of equalization. Mort also was one of the first researchers to examine weighting students.
Paul Mort
Paul Mort criticized Cubberly's reward for effort principle because it conflicted with the concept of equalization. Mort also was one of the first researchers to examine weighting students.
Henry C. Morrison
Henry C. Morrison developed the concepts of full-state funding, use of income taxes, and consideration of the state as one large district. His ideas were not widely adopted because of strong concerns regarding local control and the use of income tax for schools.
Harlan Updegraff
Harlan Updegraff in the 1920's developed a plan that combined reward for effort with equalization. Later on, this program would be called power equalization. However, he proposed no upper limits on spending - certainly a problem for states and districts with limited resources.
Power Equalization and Equalized Percentage Matching
Most states have variations and combinations of a foundation program and EPM.
Constitution
A statement of guiding principals and values used by leaders of an organization to operate the organization for the benefit of its members.
Federalism
A governing system in which various responsibilities are delegated to the different levels of government - local, state, and national.
Tenth Amendment
Powers not delegated to the United States by the Constitution, nor prohibited by it to the states, are reserved to the states respectively, or to the people.
Categorical Aid
Almost all federal aid is given to states and/or districts as aid to address specific students or programs, as opposed to general, unregulated aid.
Block Grants
Money given to educational entities that combine many types of categorical aid into a single expenditure line. This allows the educational entity to determine the appropriate division of the money, rather than a one-size-fits-all approach.
General Aid
Revenue that is given to an educational entity for a general (not specific) purpose.
In Lieu of Taxes
Money given by a company to the government under an agreement in which the company provides a specific number of new jobs or other economic benefits to the community.
Budgeted Amounts
Line item or fund totals placed in a document that may be spent for specific purposes. A budget is a plan for spending money - it is only a guide, it is not an absolute direction.
Authorized
A legislative definition of the maximum amount of money provided by statute for a specific purpose.
Appropriated
The legislative action required that actually provided funds for an authorized expenditure.
Northwest Ordinances
The first act of federal aid to education. These laws were passed to provide land grants to new states to encourage state sponsored public education systems.
Handout #4
Equal Protection
Under most state constitutions and the 14th Amendment to the U.S. Constitution all citizens are entitled to be treated equally under the law.
Supreme Court Cases - Standards
The Supreme Court uses three standards of examination when judging state statutes and programs for compatibility with the 14th Amendment to the U.S. Constitution. These three standards are based on the type of constitutional right or guarantee that is alleged to have been violated. Reasonable Scrutiny, Intermediate Scrutiny, and Strict Scrutiny.
Reasonable Scrutiny
This is the lowest standard that provides minimal, if any, federal protection for persons claiming to be disadvantaged by a particular statute or system. The court has determined that no federal statute or constitutional guarantee has been violated. As long as the statute or state program is Rationally Related to a legitimate state interest, it is held to be constitutional.
Intermediate Scrutiny
This is a standard that requires a middle-of-the road approach to evaluating a state program. The court must determine that the statute or program violated federal statutes relating to such characteristics as gender, handicap, or age.
Strict Scrutiny
This is the highest standard of examination. To apply strict scrutiny, the court must rule that the statute or program violated rights guaranteed in the U.S. Constitution. These rights include freedom of speech, religion, press, or association as well as matters relating to race, color, creed, or national origin. In these cases, a program must have a Compelling State Interest in order to violate rights guaranteed in the U.S. Constitution.
Serrano Philosophy
"In California school districts, the plaintiffs in this school finance case showed that the state finance program allowed local education expenditures to be directly related to the wealth of the local district. The California Supreme Court determined that:
1. Local wealth is a suspect classification that may lead to discrimination because of its close relation to the race or national origin of the persons living in the local district.
2.The right to an education in California is a fundamental right guaranteed in the California Constitution.
3. Strict Scrutiny of the California school finance system should apply in this case.
Under this reasoning, the court determined that the system was unconstitutional because the state could show no compelling reason for the system to exist in its then current form
Caldwell v. State of Kansas, 1972
"DeSoto School District, which had relatively low wealth, was located in Johnson County, which had relatively high wealth. The school finance system at that time based state aid on the wealth of the county as a whole. DeSoto was forced to choose between levying very high property taxes or making drastic cuts to its educational programs.For example, compare DeSoto’s statistics with the Kingman School District in 1971: (See chart)
AVPP Gen Fund PP Mill Levy
DeSoto $7,746 $575 41.23 mills
Kingman $23.031 $742 11.12 mills
The District Court of Johnson County concluded:
1. There was a direct correlation between GF Budget PP and general educational opportunity.
2. There was a direct correlation between educational opportunity and achievement level.
3. There was a direct correlation between educational opportunity and student social, economic, and political development.
4. Therefore, since the quality of education in Kansas is a function of the wealth of the district, wealth is a suspect classification.
5. Because wealth was a suspect classification, strict scrutiny should be applied to the Kansas finance program.
6. Under strict scrutiny, because the state could not show a compelling state interest in having such an unequal system, the system was be ruled unconstitutional.
In response to this ruling, the Kansas Legislature, in 1973, passed the School District Equalization Act. This was a relatively complicated adoption of District Power Equalization with the added factors of enrollment categories and budget increase limitations.
San Antonio v. Rodriquez, 1973
"The plaintiffs proved to a Federal District Court in 1971 that the Texas financing system allowed educational opportunities to be related to the wealth of the local district. The Federal District Court agreed, declared wealth to be a suspect classification under the 15th Amendment, determined that education was a fundamental right requiring strict scrutiny, and declared the Texas system to be unconstitutional. The case was then appealed to the U.S. Supreme Court.
In a landmark, 5-4 decision, the Supreme Court determined that, although the system in Texas was far from the best possible system, the justices could not declare that the right to an equal education was a fundamental right under the U.S. Constitution. Thus, they determined that no I4th Amendment right was damaged and that strict scrutiny could not apply in this case. By applying the Rational Relation test, the court declared the Texas system to be constitutional. This decision effectively took the Supreme Court out of the school finance arena and forced all such cases back into the state courts.
Constitutional Provision
An article contained in the U.S. Constitution or in state constitutions that guarantees the preservation of specific individual rights and protections; or establishes procedures to be used to provide various federal and state programs developed for the benefit of the citizens.
Powell's Answer in Rodriquez
Justice Powell indicates that the court recognizes the unfairness and problems associated with many of the states' finance systems. He urges that solutions to these problems come from within the state itself, through the legislative process.
Thurgood's Answer
Justice Marshall is explicitly telling plaintiffs in school finance court cases that they should continue to seek justice through the state court system, using the wording in the various state constitutions as justification for equalization.
CFE v. The State of New York
Another case in which the emphasis is on equity and adequacy as opposed to equality of expenditures
Handout #5
First Amendment
Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof.
Tenth Amendment
Powers not delegated to the United States by the Constitution, nor prohibited by it to the states, are reserved to the states respectively, or to the people.
Lemon Test
"Lemon v. Kurtzman. 1971. This is the Supreme Court test for statutes dealing with government support for religious schools. The statute:
• Must have a secular purpose.
• Must not advance nor inhibit religion.
• Must not foster an excessive government entanglement with religion.
Weisman Perception
Lee v. Weisman, 1992. Religious exercises may not be conducted at a graduation where those who object to the exercise are induced to perform.
Goluba Perspective
Goluba v. Ripon. 1995. A graduating student's initiated prayer is acceptable, even if known by school officials before hand.
Child Benefit Theory
Cochran v. Louisiana State Board of Education, 1930. Free textbooks given by the state to non-public students is acceptable because the children benefit directly, not the churches they represented.
Aguilar-Agostini-Weir Logic
"Aguilar v. Felton, 1985. The Supreme Court determined that the state could not use nor reimburse non-public schools as public schools for the following reasons:
• The teacher may unintentionally espouse religion.
• It may create a symbolic link between the government and religion.
• It may provide a subsidy to a religious mission.
Agostini v. Felton, 1997.
This Supreme Court case overturned Aguilar. The court declared that a federally funded program (Title I) providing supplemental, remedial instruction to disadvantaged children on a neutral basis is acceptable in non-public schools.
Choice Argument
The theory states that allowing parents to choose what schools their children attend is the only fair procedure. The theory further states that this ability for parents to choose will help improve the public schools because of the competition that is created.
Tuition Tax Credits
This is a tax code refinement that would allow private school tuition to be treated as a tax credit.
Voucher
State reimbursable document with a specific monetary value provided to parents who would use the document to send their children to any school of their choice.
Charter Schools
In general, these are public schools created in an existing district around a specific teaching philosophy or subject area. They are usually created to attract students who want an alternative to the regular public school.
Capital Outlay
Funds used for fixed assets, equipment, construction projects and the purchase of property.
Pay-as-you-go Financing
Paying for capital expenditures with current tax funds, not borrowed funds.
Building Reserve Fund
The accumulation of monies to be held in reserve for future construction needs.
Bonding
The process of obtaining voter approval to issue long-term debt certificates to obtain funds for facility construction or renovation.
Serial Bonds
Debt certificates that provide for the payment of accrued interest each year as well as for the retirement of part of the principal.
Straight Term Bonds
Debt certificates that require money to be saved until the end of the bonding period, when it is paid (with interest) to retire the certificates.
Callable Bonds
Debt certificates that provide for premature payment of the debt with new certificates that are issued at a lower interest rate.
Registered Bonds
Debt certificates that require all payments be made solely to the registered owners on record with the school district which issued the certificates.
Debentures
A legal term for school bonds.
Amortization
The process of retiring bonds by using a mathematical repayment schedule. The schedule is usually developed for the best advantage of the district.
Refunding Bonds
The process of paying off the Callable Bonds of one or more older bond issues with a new issue that usually has a lower interest rate, it usually results in lower total interest being paid on the bonds.
Bonding Authorities
An autonomous governmental corporation that issues its own bonds for the purpose of constructing public school buildings.
Impact Fees
Fees assessed to new homeowners in newly developed areas that cover the costs of a new school in the impacted area.
Budget
A plan for receiving and spending funds, and evaluating the results of the spending decisions. Evaluation - NCLB, AYP, SAT, ACT, etc.
Revenue
Money received by a school district that is used by the district to achieve its goals.
Expenditures
Money that is spent by a school district in order to achieve its goals
Receipts
Specific funds from specific sources received as revenue.
NCES
National Center for Educational Statistics
GASB
Governmental Accounting Standards Board
PPBS - Planning/Programming/ Budgeting System
A system developed by the Department of Defense whose chief objective is replacing broad, traditional budgeting objectives with specific, measurable objectives.
Zero-Based Budgeting
A process in which the process begins at zero each year. Every program must be justified during each annual budget development cycle.
Site-Based Budgeting
Developing part of a district budget through the involvement of teachers, community members, and administrators at the school building level. This process is usually used for instructional supplies, equipment, textbooks, library books, and professional development.
Strategic Planning
The process of involving a broad segment of the community and school district for the purpose of setting district goals for a three to five year period.
TQM - Total Quality Management
A management system that requires the entire organization to take authority and responsibility for achieving excellence.
Systems Analysis
Careful examination of an organizational system by intrinsic or extrinsic means whose purpose is improving the efficacy of the system. (efficacy is a combination of efficiency. effectiveness, equity and excellence)
Handout #6
Accounting
A system of record keeping and reporting that ensures accurate information concerning the efficacy of the dollars collected and spent for educational purposes.
Auditing
A process or procedure to verify the financial operations of a school district to determine whether property and funds have been used in a legal and efficient way.
Fund
A sum of money provided by the public for use by a school district to provide educational services. Examples in Kansas include the General Fund and Transportation Fund.
CAFR
Comprehensive Annual Financial Report prepared in accordance with generally accepted accounting principles set by GASB (Governmental Accounting Standards Board).
GAAS
Generally Accepted Auditing Standards used by outside auditors to verify the revenues and expenditures of a school district.
Encumbrance
A commitment to spend money for a specific educational item or service. In Kansas, an encumbrance has the same budgetary effect as an actual expenditure.
Cost Accounting
The examination and comparison of specific, related expenditures. For example, the cost of education at each elementary school, a comparison of the math program costs per student, or the chemistry program costs per student.
Accrual Accounting
"A type of accounting system whose essential elements include: • Deferral of expenditures and amortization of the deferred costs,
• Deferral of revenues until they are earned, and
: • Capitalization of long-term expenditures and the subsequent depreciation of the costs.
Internal Audits
Audits that are conducted by technically qualified personnel already employed by the school district.
External Audits
Audits conducted by qualified agencies or individuals (usually CPA's) from outside the district.
Surety Bond
A type of insurance that can be purchased from an agent that assures the district that those involved with the finance of the district will fulfill their duties honestly.
FTE
Full Time Equivalent