Bob Newsome was thrilled to land the job as head of Whitecastle Country Day--a small K-12 school with a solid reputation in the area. He worked hard to learn as much as possible about the school in advance of his start date. He spent time with faculty and staff, and made an effort to overlap frequently with Andrew Reynolds, the long-serving,…

In 1984 the Governmental Accounting Standards Board, created to solidify accounting principles for government entities, enumerated Generally Accepted Accounting Principles endorsed by the American Institute of Certified Public Accountants and the National Council on Governmental Accounting. These principles have recently been approved for school…

Describes several options for school districts to comply with Governmental Accounting Standards Board (GASB) Statements 34 and 35 that require school districts to inventory their fixed assets and measure the value of these assets over their estimated life for inclusion in their financial statements. Information about GASB Statements 34 and 35 is…

Alerts public school business officials to a financial reporting concepts statement to be issued by the Governmental Accounting Standards Board in late 1986. The new directive will outline four objectives concerned with accountability procedures, resource management and compliance information, operating results, and future financial capabilities.…

Explains the importance of comprehensive annual financial reports, including introductory, financial, and statistical sections. Advises school districts to pay special attention to the letter of transmittal, which should provide information on services, financial highlights, economic forecasting, accounting principles used, and other pertinent…

Highlights projects and statistics of the Association of School Business Officials' Certificate of Excellence in Financial Reporting by Schools Program. (MLF)

Discusses five questions that must be answered before implementing site-based budgeting: Why are we doing this? What budgeting decisions will be devolved to the school site? How do dollars flow from the central office to the site? Who will be involved at the site? How will accountability be achieved? (Author/PKP)

Describes the use of the charge-back system to foster better financial decision making, organizational efficiency, and waste prevention. Discusses an example of the charge-back system in reducing copying costs, including charging criteria. (GR)

Describes how a school cafeteria employee stole money from a cash register, how it was discovered, and the measures taken to prevent future theft. (MLF)

The Governmental Accounting Standards Board (GASB) has two major distinctions: national recognition for determining Generally Accepted Accounting Principles for state and local governments, including school districts, and its commitment to due process. This article urges GASB's 11,500 constituents to participate fully by responding to discussion…

The Single Audit Act of 1984 requires most school districts receiving over $25,000 in federal funds to undergo financial audits. This article highlights requirements for selecting certified public accountants to perform the audit and suggests factors to be considered before drafting a contract or letter of engagement. A sample letter is included.…

Hartford school administrators converted from a program budget to a school-based budget in one year. (MLF)

A Minnesota school district uses microcomputers for many functions including a copier control system and an energy management system. (MLF)

Reports on several changes in the 2002 edition (forthcoming) of the federal government accounting handbook "Federal Financial Accounting for State and Local School Systems." Includes brief summary of "Emerging Issues" section of the handbook that addresses issues such as alternative revenues, charter schools, school safety and security,…

A Nevada school board has instituted an internal audit committee to review how well the school system is operating, financially and otherwise. Describes committee organization and suggests a code of conduct for school systems that addresses the following situations: gifts, influence, conflict of interest, privy information, and confidentiality.…