Mar 28, 2024  
2015-2016 Van Loan Catalog 
    
2015-2016 Van Loan Catalog [ARCHIVED CATALOG]

EA 545 - Finance


This course is designed for those aspiring to district-level administrative leadership positions. Financial support is critical to the success of public schools. School leaders are required to be adept at assessing school needs and developing a financial plan to successfully address those needs. Needs are identified as those financial, human or material resources necessary to advance the mission, goals and objectives of the district, school, or department. This course will prepare future educational leaders to understand the federal, state, and local context of school finance. The budget, like any plan, has three essential components; namely, the formulation or development of the plan, the execution or administration of the plan, and the control or adjustments made to the plan. Students will be able to identify the major types of budgeting models that can be utilized and become directly involved in the preparation of an actual school budget. Course provides students with a comprehensive overview of school budgeting processes and business administrative functions. Specific emphasis is given to program, school, and district-level budget development and implementation.

Students will develop an understanding of the intricacies related to budgeting in Massachusetts since the passage of the Educational Reform Act of 1993. Among the topics covered will include, but not be limited to, State Aid, revenues, grants, offset accounts, revolving funds, carryover funding, school choice funding, charter school funding, enterprise funds, capital funds, and fund accounting.

Students will also learn about various reporting requirements relating to school and municipal finances including but not limited to audits, the End of the Year Report, net school spending formulas and various funds left in the custody of school officials. In the context of administering a school budget, students will learn about budget prioritization, statutory requirements associated with reporting the disposition and movement of funds related to the enacted school budget and offset accounts. Students will gain an understanding of major cost centers like workers compensation, health insurance, dental insurance, pensions for retired employees, non-funded liabilities, and the role and impact these cost centers have in relation to school finance.

Credits: 3