Fund Accounting - name 4 funds - general fund, debt service fund, capital projects fund, special
revenue fund
general fund pays for - largest fund
salaries & benefits
light bill, phone bill
What percentage of the general fund pays for salaries and benefits? - 85%
debt service fund - mortgage
...
FELE Finance QUESTIONS AND ANSWERS
Fund Accounting - name 4 funds - ✔✔general fund, debt service fund, capital projects fund, special
revenue fund
general fund pays for - ✔✔largest fund
salaries & benefits
light bill, phone bill
What percentage of the general fund pays for salaries and benefits? - ✔✔85%
debt service fund - ✔✔mortgage
capital projects fund - ✔✔gets money from local property tax set by mil.
maintain bldgs, pay people to maintain bldgs, buy and pay for maintenance of vehicles
special revenue fund - ✔✔has a specific purpose
school lunch, title 1, federal money
0% - ✔✔What is the budget for lunch?
Serrano Vs. Priest (1971) - ✔✔left upt ot local school to fund through taxes
fiscal neutrality, fiscal equality
California Supreme Court, California constitution
compared Watts and Beverly Hills
, Rodriguez vs. San Antonio (1973) - ✔✔Federal case
US constitution
14th amendment (equal protection clause)
US Supreme Court
Funding of education is not a federal issue - take it to your state court
Florida Education Finance Program
FEFP - ✔✔provides the state and local education funding
distributes funding based on the students in each school
Requirements to receive $ under FEFP - ✔✔180 student days
196 teacher days (rescinded 2009)
Impose required local millage
local effort - ✔✔required local millage by each school district
1 mill - ✔✔.001
mil - ✔✔form of measurement to impose property tax
How many school districts - ✔✔67
FEFP formula - ✔✔FTE x PCF X DCD x BSA = Base Funding
FTE count - ✔✔present any day during the 5 day count or the 6 days before
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Jessypeace. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.49. You're not tied to anything after your purchase.
