School budget dollars demand conscientious management and prudent investment, where permitted by law, in U.S. treasury bills, certificates of deposit, and repurchase agreements. Insets outline investment instruments and provide a money management primer and a chart of state-by-state investment rules. (MLH)

A survey of 784 school board members representing all geographic areas and all size school districts showed that boards are becoming more aggressive in their exercise of legal authority to act in school matters. This strong board activity is very evident in purchasing. (Author/JF)

Outlines the cash management program developed by the Orangeburg School District (SC) for the district's funds. They take bids from banks before deciding which bank to use for all their services, including an investment program. This new system has saved $30,000 in the first year. Sidebars tell how to shop for bank services and list technical…

The huge oil corporations for many years have been using their political power at State, national, and international levels of government to control production and prices. (Author)

Because responsible stewardship of public funds is involved, school boards are obligated to establish sound criteria for purchasing essential goods and services. Supporting the local economy is appropriate when local businesses offer the most competitive prices. An inset describes a 1986 publication, "Education Inc.," that discusses schools'…

Investing school funds in repurchase agreements can be dangerous, since investment firms can fail, thereby causing schools to lose the money invested. Two methods of assuming control of repurchase agreements are described: a trust receipt and third party custody. The latter is more difficult, but more secure. (TE)

For school systems, the Tax Reform Act of 1986 increased the relative cost of borrowing and put greater limits on investment opportunities. Offers tips to help school boards ask the right questions to take advantage of all possible opportunities. (MLF)

Guidelines are offered for choosing an outside auditor for objective and thorough examination of school financial statements. Included is advice on using a selection committee, preparing a detailed explanation of expectations for the audit, evaluating competing firms, and weighing cost estimates. (MJL)

Describes the Cambridge (Massachusetts) Public Schools' management of physical assets to generate income. Notes the need for board and superintendent commitment, outlines nine steps for developing plans, and considers 13 potential issues. Lists 21 types of assets and their estimated demand and annual income and potential uses, users, and problems.…

Many former members of the military have chosen second careers in teaching aided by a Department of Defense program called Troops to Teachers. Teachers are eligible to receive financial support for schooling if they agree to stay with the program for five years. School districts benefit from employees with highly developed technical skills and a…

The author's suggestions for conducting successful school fund-raising activities include setting clear and specific goals, selecting products that are sure to sell, making sure to pick a supplier who can "deliver high-quality merchandise promptly," and setting up awards and incentives for top sellers. (JBM)

Board members and superintendents should know their state's laws regarding fund balances. Some states prohibit accumulation of fund balances and return unspent district revenues to state coffers. Most allow a limited fund balance to accumulate. Districts that overaccumulate are undermining state efforts to create educational equity. Tips are…

A school fund-raising drive for a young cancer victim at Twality Junior High School in Tigard, Oregon, became a legal hassle with the involvement of a professional fund-raising organization being investigated for mishandling funds. Advises making a thorough background check before letting anyone take custody of funds raised through the school.…

Entrepreneurship is helping balance the budget for the Gloucester, Massachusetts, schools. The school district has taken over management of an indoor ice hockey rink, is running concessions on two city beaches, and started its own school bus company. (MLF)

Describes recent efforts to combat the downward spiral of music programs in American schools. Increasing enrollments in arts education coupled with financial downsizing have spurred music educators and concerned constituents to fight for inclusion of fine arts programs in school curricula. (LMI)