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196 teacher days (rescinded 2009)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
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