WGU D023 School Financial Leadership Test Questions & Answers// (Top 2024/2025 EXAM REVIEW PAPERS / GRADED A+/ 100% Accurate)

WGU D023 School Financial Leadership Test Questions & Answers 5 Stakeholders Who Should Be at Your District's or School's Fundraising Table -District and School Leadership, teachers, PTO and/or Educational Foundation, IT team,Other PLTW Advocates (parents, business leaders, clubs) A balance sheet is a projection of expenditures for the school year. -False While a budget is a projection of the application of funds to allocation priorities throughout the fiscal year, the balance sheet 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. Balance sheets are normally produced with a year-to-date balance indication by category or both a year-to-date and a month-to-month expenditure accounting. A principal is allowed to involve campus stakeholders in making decisions concerning the campus budget -site based budget A principal is expected to implement new math and reading programs for the campus during the next school year. The superintendent has charged the principal with creating a budget that considers the effectiveness and cost of different math and reading programs. -planning, programming, and budgeting system A principal is working with the site-based decision-making committee to consider and determine the cost effectiveness of a new reading curriculum for the campus for the next school year. In what stage of the budget process would this typically take place? -Planning A public school that offers specialized curricula and programs not available in a traditional public school. -Magnet school A school budget is a "living" document, as it requires periodic review, revision, adjustment, and reporting. -True A school budget should reflect the goals of the school and school improvement planning, and should be presented in a measurable format -True A school district decides to hire a qualified accountant to conduct an audit after a review by other school personnel. What type of audit best describes this scenario? -External audit A school district hires a qualified accountant to conduct ongoing audits to promote proper and careful management of school finances. Which type of audit is represented by the above scenario? - Internal audit A school has set a goal for creating and maintaining an efficiently functioning learning environment. One of the objectives is to maintain a safe school.Which budget item would be most appropriately tied to this goal and objectives- -Purchase cameras that will be strategically placed throughout the school. A school principal was required to attend a budget hearing regarding the school's proposed budget. What is the principal's role in this hearing? -To provide justification for budgetary requests and answer questions A school-sponsored club account- -equity Approximately 50 percent of a school's or district's budget is encumbered in salary and benefit expenses for personnel -False 85% Bond levy funding for construction of a building -Local funding Cafeteria supplies- -Liability Charter schools are funded by public schools, through public dollars, like a public school. -False Charter schools are semiautonomous public schools that operate under a written contract with a state, district, or other entity and have the freedom to teach religion without charging school tuition. - False community organizations provide resources to the school through -formal partnerships. creating a budget draft is the first step stakeholders must consider when creating a budget. - False Difficulty in attracting the best teachers - -urban and rural schools Elementary and Secondary Education Act of 1965- -Lyndon B Johnson ESEA -Categorical grant Federal Funding Bond levy funding for construction of a building- -True Federal funds are automatically provided to schools that qualify for federal funding. - False Federal support of school is limited to ESEA, Title I, II, and III, and is purposed to support instructional improvement. -False Focuses on improving performance- -TQM