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
Registration Fee: $1000
