This course provides a comprehensive introduction to the financial foundations that guide public education in your state. In the first portion of the course, learners will explore the current State School Aid Act, examining its structure, purpose, and the mechanisms through which state funding is allocated to local districts. You will learn how this legislation shapes a district’s ability to operate, plan, and sustain essential programs, as well as how anticipated changes in the Act may impact future financial stability and local board decision‑making. Through practical examples and guided analysis, you will gain a clearer understanding of how state‑level policy directly affects district‑level budgets and long‑term strategic planning.
The second portion of the course focuses on the development and monitoring of a local district’s budget, walking learners step‑by‑step through how budgets are built, approved, adjusted, and overseen throughout the fiscal year. You will examine the superintendent’s role, the board’s oversight responsibilities, and the ways in which financial documents tell the story of a district’s priorities. This section also highlights common pitfalls that board members may encounter—such as misinterpreting financial reports, overlooking long‑term obligations, or misunderstanding restricted versus unrestricted funds—and provides strategies to navigate these challenges with confidence.
By grounding learners in essential school finance fundamentals, this course serves as an important foundation for more advanced financial coursework.
Please Note: It is strongly recommended that learners complete this course before enrolling in CBAs 215, 310, or 315 to ensure a solid understanding of school funding systems, budget processes, and oversight responsibilities that will enhance and deepen the learning experience in subsequent courses.
By the end of this course, learners will be able to:
Explain the structure and purpose of the State School Aid Act, including how state funding is generated, allocated, and monitored, and how changes to the Act may affect local district operations.
Describe the phases of a local school district budget cycle, from initial development through adoption, amendments, and year‑end review, including the roles of administrative and board personnel.
Interpret key financial documents—such as budget summaries, monthly financial statements, and audit reports—to make informed governance decisions.
Identify common financial pitfalls and risk areas for board members, and apply strategies to avoid missteps related to compliance, forecasting, or misinterpretation of budget information.
Demonstrate effective financial oversight practices, including asking strategic questions, monitoring expenditures, and evaluating whether a district’s financial decisions align with its goals, legal obligations, and long‑term sustainability.
