WGU D023 School Financial
Leadership OA ACTUAL EXAM STUDY GUIDE
2025/2026 COMPLETE QUESTIONS BANK AND
CORRECT DETAILED ANSWERS WITH
RATIONALES || 100% GUARANTEED PASS
<LATEST VERSION>
1. Which piece of legislation establishes the Title I program for school
funding?
A: Elementary and Secondary Education Act (ESEA)
B: Individuals with Disabilities Education Act (IDEA)
C: War on Poverty Act (WPA)
D: Student Opportunity Equalization Act (SOEA) - ANSWER ✓ A:
Elementary and Secondary Education Act (ESEA)
2. Which educational concern is Title I funding intended to correct?
A: Inequitable learning opportunities for low-income students
B: Inadequate teacher preparation
C: Inefficiently managed school districts
D: A lack of technological skills among students - ANSWER ✓ A:
Inequitable learning opportunities for low-income students
3. Which grant program is intended to "improve the quality and effectiveness
of teachers, principals, and other school leaders"?
A: Title I
B: Title II
C: Title III
D: Title IV - ANSWER ✓ B: Title II
4. Which grant provides funds specifically for hybrid or blended learning?
A: Title I
B: Title II
C: Title III
, D: Title IV - ANSWER ✓ D: Title IV
5. Which accounting document provides a projection of expenditures for the
school year?
A: Balance sheet
B: Purchase order
C: Budget template
D: Requisition - ANSWER ✓ A: Balance sheet
6. How would school-owned buildings be categorized on a balance sheet?
A: Short-term liabilities
B: Assets
C: Long-term liabilities
D: Expenditures - ANSWER ✓ B: Assets
7. What is an example of a liability in school accounting?
A: Property tax revenue
B: Athletic fee collections
C: School property
D: Employee salaries - ANSWER ✓ D: Employee salaries
8. What is a liability in accounting?
A: Money from a government source
B: Money owed to others
C: Services that have been paid for
D: Property that has monetary value - ANSWER ✓ B: Money owed to
others
9. Which comparison must be included in fiscal accountability reports,
according to the Governmental Accounting Standards Board?
A: Comparison of the proposed budget with the legally adopted budget
B: Comparison of actual fiscal results with the legally adopted budget
C: Comparison of the salaries and benefits of business managers across the
state
D: Comparison of the projected results of student achievement in math and
reading - ANSWER ✓ B: Comparison of actual fiscal results with the legally
adopted budget
,10.1st Development Stage of School Finance - ANSWER ✓ The period of local
district financial responsibility, with little or no assistance from the state
-used to be local or church
-rate bills or tuition
-problem in equity
11.2nd Development Stage of School Finance - ANSWER ✓ The period of
emerging state responsibility, with the use of flat grants, subventions, and
other nonequalizing state allocations to local districts
-state to supplement local tax revenues to provide acceptable programs
12.3rd Development Stage of School Finance - ANSWER ✓ The emergence of
the Strayer-Haig concept of a foundation program (minimum program)
-Each local district would levy the amount of local tax that was required in
the richest district of the state to provide a foundation, or minimum,
program. The rich district would receive no state funds; the other districts
would receive state funds necessary to provide the foundation program.
13.4th Development Stage of School Finance - ANSWER ✓ The period of
refinement of the foundation program concept
-use of flat grants
-question to take money from wealthy districts to equalize
14.5th Development Stage of School Finance - ANSWER ✓ "Power" or "open-
end" (shared costs) equalization practices
-20th century
15.Equalization - ANSWER ✓ state and local districts began exercising a
degree of partnership in establishing and paying for a basic program of
education for every school-age child in the state—at least in theory. In
practice, the link between funding and program quality was questionable.
16.open-ended, or shared-cost, equalization plan - ANSWER ✓ the percentage
of this program to be paid by each individual district and by the state. This
percentage of state funds would be high for poor districts and low for
wealthier ones. Once that determination has been made for each district, the
same partnership ratio would be maintained to pay the total cost of the
school program in each district
-Harlan Updegraff
, 17.6th Development Stage of School Finance - ANSWER ✓ The shift of
emphasis and influence, and funding for special need
-economic factors influenced (wars, terrorist attacks, natural disasters,
fluctuating prices in energy, had to rethink budget and safety of schools
18.7th Development Stage of School Finance - ANSWER ✓ A focus on
adequacy in education finance
-court cases
-sufficient funding is needed to meet state laws, standards, and requirements,
and must be constitutionally enforceable
-CCSS
19.Foundational funding - ANSWER ✓ The state provides a minimal level of
funding as a guarantee per student expenditure. The intent of this system is
to counteract the disparity of wealth across various districts of a state.
20.Common School Era - ANSWER ✓ Local school districts were formed to
support the education of the local population, many of whom were the
children of immigrants. In order to accommodate this influx of educational
need with limited personal resources, local property taxes became mandated
to support public schools.
21.Early Colonial Schooling - ANSWER ✓ Funded through tuition or rate
changes, primarily as a funding of the local community or church of that
community.
22.Funding for public schools is directly addressed in which document? -
ANSWER ✓ State Constitution
-The funding and operation of public schools is directly addressed in each
state's constitution. Access to education and the quality are different
depending upon how the state defines its language. For example, a "right" to
education is different than a "goal" to educate all citizens. A "right" provides
grounds for equity and equality litigation while a "goal" may provide more
flexibility in disparity.
23.What is meant by pupil expenditure? - ANSWER ✓ The pupil expenditure is
the total expense accounted for by that specific student. For example, this
funding amount includes but is not limited to: personnel expenses (salary,
Leadership OA ACTUAL EXAM STUDY GUIDE
2025/2026 COMPLETE QUESTIONS BANK AND
CORRECT DETAILED ANSWERS WITH
RATIONALES || 100% GUARANTEED PASS
<LATEST VERSION>
1. Which piece of legislation establishes the Title I program for school
funding?
A: Elementary and Secondary Education Act (ESEA)
B: Individuals with Disabilities Education Act (IDEA)
C: War on Poverty Act (WPA)
D: Student Opportunity Equalization Act (SOEA) - ANSWER ✓ A:
Elementary and Secondary Education Act (ESEA)
2. Which educational concern is Title I funding intended to correct?
A: Inequitable learning opportunities for low-income students
B: Inadequate teacher preparation
C: Inefficiently managed school districts
D: A lack of technological skills among students - ANSWER ✓ A:
Inequitable learning opportunities for low-income students
3. Which grant program is intended to "improve the quality and effectiveness
of teachers, principals, and other school leaders"?
A: Title I
B: Title II
C: Title III
D: Title IV - ANSWER ✓ B: Title II
4. Which grant provides funds specifically for hybrid or blended learning?
A: Title I
B: Title II
C: Title III
, D: Title IV - ANSWER ✓ D: Title IV
5. Which accounting document provides a projection of expenditures for the
school year?
A: Balance sheet
B: Purchase order
C: Budget template
D: Requisition - ANSWER ✓ A: Balance sheet
6. How would school-owned buildings be categorized on a balance sheet?
A: Short-term liabilities
B: Assets
C: Long-term liabilities
D: Expenditures - ANSWER ✓ B: Assets
7. What is an example of a liability in school accounting?
A: Property tax revenue
B: Athletic fee collections
C: School property
D: Employee salaries - ANSWER ✓ D: Employee salaries
8. What is a liability in accounting?
A: Money from a government source
B: Money owed to others
C: Services that have been paid for
D: Property that has monetary value - ANSWER ✓ B: Money owed to
others
9. Which comparison must be included in fiscal accountability reports,
according to the Governmental Accounting Standards Board?
A: Comparison of the proposed budget with the legally adopted budget
B: Comparison of actual fiscal results with the legally adopted budget
C: Comparison of the salaries and benefits of business managers across the
state
D: Comparison of the projected results of student achievement in math and
reading - ANSWER ✓ B: Comparison of actual fiscal results with the legally
adopted budget
,10.1st Development Stage of School Finance - ANSWER ✓ The period of local
district financial responsibility, with little or no assistance from the state
-used to be local or church
-rate bills or tuition
-problem in equity
11.2nd Development Stage of School Finance - ANSWER ✓ The period of
emerging state responsibility, with the use of flat grants, subventions, and
other nonequalizing state allocations to local districts
-state to supplement local tax revenues to provide acceptable programs
12.3rd Development Stage of School Finance - ANSWER ✓ The emergence of
the Strayer-Haig concept of a foundation program (minimum program)
-Each local district would levy the amount of local tax that was required in
the richest district of the state to provide a foundation, or minimum,
program. The rich district would receive no state funds; the other districts
would receive state funds necessary to provide the foundation program.
13.4th Development Stage of School Finance - ANSWER ✓ The period of
refinement of the foundation program concept
-use of flat grants
-question to take money from wealthy districts to equalize
14.5th Development Stage of School Finance - ANSWER ✓ "Power" or "open-
end" (shared costs) equalization practices
-20th century
15.Equalization - ANSWER ✓ state and local districts began exercising a
degree of partnership in establishing and paying for a basic program of
education for every school-age child in the state—at least in theory. In
practice, the link between funding and program quality was questionable.
16.open-ended, or shared-cost, equalization plan - ANSWER ✓ the percentage
of this program to be paid by each individual district and by the state. This
percentage of state funds would be high for poor districts and low for
wealthier ones. Once that determination has been made for each district, the
same partnership ratio would be maintained to pay the total cost of the
school program in each district
-Harlan Updegraff
, 17.6th Development Stage of School Finance - ANSWER ✓ The shift of
emphasis and influence, and funding for special need
-economic factors influenced (wars, terrorist attacks, natural disasters,
fluctuating prices in energy, had to rethink budget and safety of schools
18.7th Development Stage of School Finance - ANSWER ✓ A focus on
adequacy in education finance
-court cases
-sufficient funding is needed to meet state laws, standards, and requirements,
and must be constitutionally enforceable
-CCSS
19.Foundational funding - ANSWER ✓ The state provides a minimal level of
funding as a guarantee per student expenditure. The intent of this system is
to counteract the disparity of wealth across various districts of a state.
20.Common School Era - ANSWER ✓ Local school districts were formed to
support the education of the local population, many of whom were the
children of immigrants. In order to accommodate this influx of educational
need with limited personal resources, local property taxes became mandated
to support public schools.
21.Early Colonial Schooling - ANSWER ✓ Funded through tuition or rate
changes, primarily as a funding of the local community or church of that
community.
22.Funding for public schools is directly addressed in which document? -
ANSWER ✓ State Constitution
-The funding and operation of public schools is directly addressed in each
state's constitution. Access to education and the quality are different
depending upon how the state defines its language. For example, a "right" to
education is different than a "goal" to educate all citizens. A "right" provides
grounds for equity and equality litigation while a "goal" may provide more
flexibility in disparity.
23.What is meant by pupil expenditure? - ANSWER ✓ The pupil expenditure is
the total expense accounted for by that specific student. For example, this
funding amount includes but is not limited to: personnel expenses (salary,
