Mission and Vision

Mission: Equip Oklahoma school leaders with the financial knowledge and leadership capacity necessary to transition from site-level or district-level support to district-level fiscal leadership.

Vision: Cultivate fiscally responsible leaders who leverage funding to improve outcomes for students, staff, and communities. 

Course Overview: This year-long program equips Oklahoma K-12 principals, district office support staff or assistant superintendents with the financial acumen needed to serve as a school district CFO. Meeting once or twice a month, participants will learn budgeting, financial planning, compliance, revenue management, and strategic financial leadership.

This program (course, session, webinar) aligns with validated industry knowledge requirements for school business administrators and is an important means of assigning a measure of the attendee's professional development. Attendees are eligible to receive the Certified Administrator of School Finance and Operations® (SFO®) contact hours, which can be applied toward their SFO recertification or used as a guideline for aligning with the standard learning requirements for school business professionals.   

Course Descriptions & Key Concepts

Session 1: Introduction to School Finance & the Role of a CFO

• Overview of school finance in Oklahoma

• The CFO's role in district operations

• Key financial terminology and concepts

• Understanding the Oklahoma Cost Accounting System (OCAS)

Session 2: State and Federal Funding Sources

• Oklahoma State Aid formula

• Title I, Title II, and other federal funding streams

• Impact of enrollment trends on funding

• Categorical funding and restricted vs. unrestricted funds

Session 3: Budget Development and Management

• Budgeting principles for school districts

• Aligning budgets with strategic goals

• Fund balance policies and financial health indicators

• Preparing for budget shortfalls and fiscal uncertainties

Session 4: Bond Funds & Capital Projects

• School bond elections: Process and regulations

• Managing capital improvement projects

• Long-term financial planning for facilities

• Role of the CFO in bond-funded initiatives

Session 5: Payroll, Compensation, and Benefits

• Understanding teacher salary schedules and classified pay scales

• Employee benefits: Cost analysis and forecasting

• Collective bargaining and financial implications

• Budgeting for personnel costs

Session 6: Revenue Generation & Alternative Funding

• Grants and competitive funding opportunities

• Private partnerships and sponsorships

• Managing activity funds and booster club contributions

• Maximizing carryover and fund balance sustainability

Session 7: School Finance Law & Compliance

• Oklahoma school finance laws and state reporting requirements

• Federal compliance: ESSA, IDEA, and EDGAR regulations

• Open records and transparency requirements

• Internal controls to prevent fraud and mismanagement

Session 7: Purchasing, Procurement, and Vendor Contracts 

• Competitive bidding and procurement best practices

• Managing vendor relationships and service contracts

• Technology and transportation budget considerations

• Ethics in financial decision-making

Session 8: Data-Driven Financial Decision Making

• Using data to inform financial planning

• Analyzing financial reports and audits

• Leveraging enrollment and demographic data for forecasting

• Aligning resources with instructional priorities

Session 9: Preparing for Financial Audits & Accountability

• Types of school audits: State, federal, and independent

• Internal controls and risk management

• Responding to audit findings and corrective action plans

• CFO responsibilities in financial accountability

Session 10: Crisis Management & Financial Leadership

• Navigating budget reductions and financial crises

• Communication strategies with stakeholders

• Building financial resilience and sustainability

• CFO’s role in district leadership teams

CFO Panel Discussion

• Held at the OKASBO Conference (Registration not included in CFO Academy tuition)

• Discussion with experienced CFOs on lessons learned

• Final Q&A and reflections on financial leadership

Capstone Project 

• Participants present a strategic financial plan for a district to their mentor

Graduation and Certification of Completion

• Participants will recieve their Certification of Completion at the CCOSA Summer Conference

• Details provided closer to Graduation

• CCOSA Conference registration not included in CFO Academy tuition