Exam (elaborations)
WGU D023 School Financial Leadership (66) with 100- correct answers
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WGU D023 School Financial Leadership (66) with 100- correct answers
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WGU D023 SchoolFinancial Leadership
(6/6) with 100%
correct answers
What is strategic planning? - answer the process of
developing and maintaining a strategic fit between
the organization's goals and capabilities and its
changing marketing opportunities
Governmental Funds - answer A generic
classification used by the GASB to refer to all funds
other than proprietary and fiduciary funds. The
General Fund, special revenue funds, capital
projects funds, debt service funds, and permanent
funds are the types of funds referred to as
governmental funds.
Reserved Fund Balance - answer The part of the
fund balance on the balance sheet that indicates
that some amounts are not available for
appropriation or expenditure. The creation of this
requires action by governing council. Examples:
encumbrances, petty cash, inventories, advances.
, Unreserved Fund Balance - answer The part of the
fund balance on the balance sheet which may be
further divided into Designated and Undesignated
funds
designated funds - answer contributions which the
donor has designated to a specific voluntary
agency(ies), federation(s), or general option(s).
undesignated funds - answer funds that have not
been allocated and are available for new
expenditures not already encumbered
Proprietary Funds - answer Sometimes referred to
as income-determination, business-like, or
commercial-type funds of a state or local
government. Examples are enterprise funds and
internal service funds.
Fiduciary Funds - answer The trust and agency
funds used to account for assets held by a
government unit in a trustee capacity or as an
agent for individuals, private organizations, other
government units, or other funds.
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