WGU D023 SCHOOL FINANCIAL
LEADERSHIP PRE-ASSESSMENT ACTUAL
EXAM PAPER 2026 QUESTIONS WITH
ANSWERS GRADED A+
◍ Socioeconomic level plays an increasing role in achievement in education
today..
Answer: True
◍ Line Item budgeting.
Answer: - Most common. Based on the previous budget and adjusted for
new conditions. Is not focused on outcomes but is the more simplistic means
of budgeting.
◍ Title II.
Answer: The purpose of this part is to provide grants to State educational
agencies, local educational agencies, State agencies for higher education,
and eligible partnerships in order to —(1) increase student academic
achievement through strategies such as improving teacher and principal
quality and increasing the number of highly qualified teachers in the
classroom and highly qualified principals and assistant principals in schools;
and(2) hold local educational agencies and schools accountable for
improvements in student academic achievement.
◍ Is a centralized approach with district-level goals-.
Answer: PPBS
◍ Reflects committed funds-.
Answer: Encumbrance accounting
◍ property tax.
, Answer: 1st kind of school tax is almost the sole source of revenue
◍ Program and Planning Budgeting System.
Answer: Focused on long-range goals and less focused on the immediate.
Much more common at the district level in strategic planning
◍ The
U. S. DOE established recommended practices for school accounting.
"Financial Accounting for State and Local Systems" is a handbook produced
to guide the classification of expenses per function and object codes.-.
Answer: True
◍ Bond levy funding for construction of a building.
Answer: Local bond levy is a common practice for the replacement or new
construction of a facility. Additionally, bond levies are common for major
capital projects such as HVAC, roofing, etc. In each case, such a levy is
typically a local district function by local vote.
◍ other funding sources.
Answer: 1. lotteries-not equitable; regressive2. private foundations-3.
school-business partnership-closely related to foundation movement4.
fundraising
◍ Balance Sheets.
Answer: assets, liabilities, owner's equity
◍ Balance Sheet.
Answer: - a snapshot in time of the current status of the organizations fiscal
conditions
◍ Common School Movement.
Answer: 1830s, led by Horace Mann, aimed to make education available to
all children regardless of economic status.
◍ Tax Regression.
Answer: a tax that disproportionately affects lower-income individuals,
meaning they pay a larger percentage of their income in taxes compared to
, higher-income individuals
◍ Total Quality Management TQM.
Answer: - Aligns with district level strategic planning. Collaborative process
to determine a shared vision of what "total quality" will be defined as and
then budgeting to support the achievement of such through managing
resources
◍ ESEA.
Answer: Elementary and Secondary Education Act of 1965
◍ Outcome Focused Budgeting.
Answer: - Focused on accountability. The allocation of funds is tied to the
outcomes and achievement of goals.
◍ 7 Stages of School Finance.
Answer: 1. Local Responsibility, 2. Early grants & allocations, 3.
Emergence of Foundation, 4. Refinement, 5. Power Equalizations, 6. Shift
and Special Needs, 7. Focus on Adequacy
◍ A balance sheet.
Answer: is a financial statement that details the school's assets, liabilities,
and equity as of a specific date, typically the date of the report production.
◍ Elwood Cubberley.
Answer: Reward for effort
◍ Textbooks-.
Answer: Asset
◍ 7 Stages: 6. Shift of Emphasis and Special Needs.
Answer: Serrano and Rodriguez court case, Federal involvement ESSA and
NCLB and IDEA overlapping concepts, student outcomes tied to funds.
◍ The first step is to work collaboratively with school stakeholders.
Answer: to create a needs assessment identifying current and future school
needs
◍ 7 Stages: 4. Refinement.
, Answer: experimental, equalization plus flat grants, Stray-Heig, Paul Mort
elementary vs. secondary and handicapped, Updegraff
◍ Funding Type.
Answer: - This are the "big pots" of funds: general , capital, debt service,
etc.
◍ creating a budget draft is the first step stakeholders must consider when
creating a budget..
Answer: False
◍ T/F creating a budget draft is the first step stakeholders must consider when
creating a budget..
Answer: False
◍ Entitlement Grants.
Answer: These grants are categorical and are restricted in use. These grants
are categorical and are restricted in use.
◍ charter schools.
Answer: public schools that are operated like private schools by public
school teachers and administratorstuition is for reg ed and sped.tuition is
only paid for states students attend cyber charters can use own method for
attendance measurement
◍ Title IV.
Answer: refers to the sections of the Higher Education Act (HEA) that
authorize federal student financial aid programs. It also refers to Title IV-A
of the Elementary and Secondary Education Act (ESEA), which provides
funding to states and school districts for student support and academic
enrichment.
◍ Liabilities.
Answer: reflect all the money your practice owes to others.
◍ What kind of funding would a school improvement grant be considered?-.
Answer: restricted
LEADERSHIP PRE-ASSESSMENT ACTUAL
EXAM PAPER 2026 QUESTIONS WITH
ANSWERS GRADED A+
◍ Socioeconomic level plays an increasing role in achievement in education
today..
Answer: True
◍ Line Item budgeting.
Answer: - Most common. Based on the previous budget and adjusted for
new conditions. Is not focused on outcomes but is the more simplistic means
of budgeting.
◍ Title II.
Answer: The purpose of this part is to provide grants to State educational
agencies, local educational agencies, State agencies for higher education,
and eligible partnerships in order to —(1) increase student academic
achievement through strategies such as improving teacher and principal
quality and increasing the number of highly qualified teachers in the
classroom and highly qualified principals and assistant principals in schools;
and(2) hold local educational agencies and schools accountable for
improvements in student academic achievement.
◍ Is a centralized approach with district-level goals-.
Answer: PPBS
◍ Reflects committed funds-.
Answer: Encumbrance accounting
◍ property tax.
, Answer: 1st kind of school tax is almost the sole source of revenue
◍ Program and Planning Budgeting System.
Answer: Focused on long-range goals and less focused on the immediate.
Much more common at the district level in strategic planning
◍ The
U. S. DOE established recommended practices for school accounting.
"Financial Accounting for State and Local Systems" is a handbook produced
to guide the classification of expenses per function and object codes.-.
Answer: True
◍ Bond levy funding for construction of a building.
Answer: Local bond levy is a common practice for the replacement or new
construction of a facility. Additionally, bond levies are common for major
capital projects such as HVAC, roofing, etc. In each case, such a levy is
typically a local district function by local vote.
◍ other funding sources.
Answer: 1. lotteries-not equitable; regressive2. private foundations-3.
school-business partnership-closely related to foundation movement4.
fundraising
◍ Balance Sheets.
Answer: assets, liabilities, owner's equity
◍ Balance Sheet.
Answer: - a snapshot in time of the current status of the organizations fiscal
conditions
◍ Common School Movement.
Answer: 1830s, led by Horace Mann, aimed to make education available to
all children regardless of economic status.
◍ Tax Regression.
Answer: a tax that disproportionately affects lower-income individuals,
meaning they pay a larger percentage of their income in taxes compared to
, higher-income individuals
◍ Total Quality Management TQM.
Answer: - Aligns with district level strategic planning. Collaborative process
to determine a shared vision of what "total quality" will be defined as and
then budgeting to support the achievement of such through managing
resources
◍ ESEA.
Answer: Elementary and Secondary Education Act of 1965
◍ Outcome Focused Budgeting.
Answer: - Focused on accountability. The allocation of funds is tied to the
outcomes and achievement of goals.
◍ 7 Stages of School Finance.
Answer: 1. Local Responsibility, 2. Early grants & allocations, 3.
Emergence of Foundation, 4. Refinement, 5. Power Equalizations, 6. Shift
and Special Needs, 7. Focus on Adequacy
◍ A balance sheet.
Answer: is a financial statement that details the school's assets, liabilities,
and equity as of a specific date, typically the date of the report production.
◍ Elwood Cubberley.
Answer: Reward for effort
◍ Textbooks-.
Answer: Asset
◍ 7 Stages: 6. Shift of Emphasis and Special Needs.
Answer: Serrano and Rodriguez court case, Federal involvement ESSA and
NCLB and IDEA overlapping concepts, student outcomes tied to funds.
◍ The first step is to work collaboratively with school stakeholders.
Answer: to create a needs assessment identifying current and future school
needs
◍ 7 Stages: 4. Refinement.
, Answer: experimental, equalization plus flat grants, Stray-Heig, Paul Mort
elementary vs. secondary and handicapped, Updegraff
◍ Funding Type.
Answer: - This are the "big pots" of funds: general , capital, debt service,
etc.
◍ creating a budget draft is the first step stakeholders must consider when
creating a budget..
Answer: False
◍ T/F creating a budget draft is the first step stakeholders must consider when
creating a budget..
Answer: False
◍ Entitlement Grants.
Answer: These grants are categorical and are restricted in use. These grants
are categorical and are restricted in use.
◍ charter schools.
Answer: public schools that are operated like private schools by public
school teachers and administratorstuition is for reg ed and sped.tuition is
only paid for states students attend cyber charters can use own method for
attendance measurement
◍ Title IV.
Answer: refers to the sections of the Higher Education Act (HEA) that
authorize federal student financial aid programs. It also refers to Title IV-A
of the Elementary and Secondary Education Act (ESEA), which provides
funding to states and school districts for student support and academic
enrichment.
◍ Liabilities.
Answer: reflect all the money your practice owes to others.
◍ What kind of funding would a school improvement grant be considered?-.
Answer: restricted
