Michigan's Local Government and School District Accountability Act of 2011 empowers the governor to appoint emergency managers (EMs) in financially-troubled school districts. EMs assume all powers of the superintendent and school board. They can reshape academic programs, nullify labor contracts, and open and close schools. This paper analyzes the…

Times are tough for everyone, including public school districts. During the past decade, school districts have faced the dual challenges of tightening budgets and increasing fiscal responsibility and oversight. Many school districts have found a way to manage their assets, reduce staff requirements, increase accountability, and save money on…

This handbook has been designed as the national standard for state and local education agencies to use in tracking and reporting financial data for school districts to use in preparing their comprehensive annual financial reports (CAFRs). The purpose of the handbook is to ensure that education fiscal data can be reported in a comprehensive manner.…

This report describes statistical indicators developed by the Council of the Great City Schools and its member districts to measure big-city school performance on a range of operational functions in business, finance, human resources and technology. The report also presents data city-by-city on those indicators. This is the second time that…

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.…

Requirements for consideration of the Certificate of Conformance award sponsored by the Association of School Business Officials to encourage school districts to adopt and use generally accepted accounting and reporting principles for all funds used in the financial management of the school systems. (Author/MLF)

Discusses an April 1986 Governmental Accounting Standards Board statement concerning disclosures of repurchase and reverse repurchase agreements. The statement tries to help financial statement users assess the risks a goverment entity takes when investing public funds. It is effective for financial statement periods ending after December 15,…

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…

Standards and principles recommended for formal adoption as the Association of School Business Officials'"official" policy on the subject. (Author/MLF)

A request is made that once a school district has been awarded the "Certificate for Conformance" for compliance with accounting standards, the Certificate should remain with the district and be revoked only for cause. (Author/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…

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 sample of school business leaders was surveyed to document their experiences with and opinions about the Certificate for Excellence in Financial Reporting. Analyzes responses from 90 participating districts and 80 nonparticipating districts from a total of 36 states. (MLF))