Reflection from School Finance

After completing this course, areas that I consider my strengths are the areas in which I need to collaborate and work with others to get things accomplished. Evaluating staff and managing personnel are other areas that I feel like I can contribute greatly. I enjoy working with people and feel that managing my time wisely allows me to contribute to applying the legal concepts and regulations. I fell that I am competent in establishing, facilitating, and monitoring the financial side of things when it comes to budgeting. This course has really helped me to better understand budgeting as a whole. From setting the budget and what goes into that to the ethical side of things. The area that I feel I am still in need of improving greatly would be the forecasting of budgetary needs. This is a difficult process that I think only comes with time and experience.
The self assessments allowed me to see the growth and confidence that I have gained while progressing through this course. I felt that I knew nothing on budgeting when I began this course and now I can, at least, have a conversation about the process and what goes into budgeting. I know that I will learn so much more as time goes on.
The weekly lecture and resources gave me a great beginning to the assignments for the course. I feel like the interviews were most beneficial in preparing me for the assignments and expectations for the course.
The assignments themselves were helpful but somewhat frustrating at times. Trying to collaborate with other group members that had very different schedules and time frames for working was challenging. However, the knowledge gained in the discussions and the work was very beneficial and gave me great information on budgeting.
The blogs and wikis are helpful with collaboration and will continue to be as time goes on. This was the only way that I felt I could communicate with my group and try to come to a consensus with them. I am glad that we created these in our first class and will use them throughout the program.

Annual External Financial Audit

In my district, an external auditor is selected through the board. Bids are accepted and then the final say is given by the board. The auditor will work directly with the board for financial matters. The audit is conducted over some time. Through on site visits, off site consultation with CPA’s and financial people the audit would be completed. Talking with the districts CFO and financial department, reviewing all of the papers and data, the auditor will develop a final report for the district. The audit will conclude if the districts information and financial statements are an accurate representation of what the district is doing, where it is going and what the money has been spent on. At year’s end, the district will know if they have been accurately keeping track and spending their money appropriately. The auditors will present the findings to the board and it will be voted on to accept or not to accept.
If the board rejects the audit, the process would begin all over again. This would not be very wise as it would cost the district more money. This is why it is so important to build a relationship with the auditors and know who you are working with.

Budgeting for Salaries

In working through the resources in this course and my district information, I know a large portion of our budget will go to personnel salaries and costs. In our district, roughly 80-85% of the budget is reserved for personnel items. In order to stay competitive and recruit to best teachers across the state, this must be the case. This goes back to our earlier assignment about the size of the district and the amount of money they are able to pay their employees. The larger the district, the higher the salaries.
We did not receive salary increases this year due to budget issues. It makes it very difficult on a district when other districts find ways to give increases to their employees. Again, this goes back to FIRST and a district being financially accountable and spending money correctly. This last year was an exception and I do not think many districts, if any, gave raises. It is clear that districts that pay the best and give raises when needed attract the best teachers, which can produce the best teaching and learning.