Syllabus

COURSE DESCRIPTION

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.

INSTRUCTORS

The course is offered by CCOSA and OKASBO.  Instructors for each session of the course will be Oklahoma CFOs, state education finance officials, and auditors. 

PREREQUISTES

• Employed by a public school or technology center in Oklahoma

• Current member of CCOSA or OKASBO

• Desire to become a CFO at an Oklahoma school district or technology center

• Be able to perform basic math calculations

• Possess good communication skills and have a willingness to participate and collaborate in small groups with other attendees

COURSE SCHEDULE

• In-person class

• 10 sessions

• Approximately 6 hours per day

OBJECTIVES

Upon successful completion of the course, the participant should have a working knowledge and understanding and/or be able to do the following.

• 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)

• 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

• Budgeting principles for school districts

• Aligning budgets with strategic goals

• Fund balance policies and financial health indicators

• Preparing for budget shortfalls and fiscal uncertainties

• School bond elections: Process and regulations

• Managing capital improvement projects

• Long-term financial planning for facilities

• Role of the CFO in bond-funded initiatives

• Understanding teacher salary schedules and classified pay scales

• Employee benefits: Cost analysis and forecasting

• Collective bargaining and financial implications

• Budgeting for personnel costs

• Grants and competitive funding opportunities

• Private partnerships and sponsorships

• Managing activity funds and booster club contributions

• Maximizing carryover and fund balance sustainability

• 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

• Competitive bidding and procurement best practices

• Managing vendor relationships and service contracts

• Technology and transportation budget considerations

• Ethics in 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

• 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

• Navigating budget reductions and financial crises

• Communication strategies with stakeholders

• Building financial resilience and sustainability

• CFO’s role in district leadership teams

REQUIRED TEXT

• Materials, presentations, and handouts will be provided by OKASBO, CCOSA, and presenters to be printed by the attendee.

• Participant Workbook

• Mentorship Plan

• Access to the Internet. Wi-Fi will be provided in class. 

• Participants should bring a tablet or laptop with Wi-Fi capability.

SUCCESSFUL COMPLETION

• In-person attendance is required for this course.  For successful completion of the course, participants must be present in-class, each day, for at least 90% of the class time.

• Participants must complete the capstone project and commit to regularly meet with their mentor. 

CERTIFICATION

• Upon successful completion, the participant will be awarded the CFO Academy certificate of completion, and be eligible for the OKASBO School Business Academy Level II course. Upon successful completion of the School Business Academy, the graduate will be eligible for the OKASBO professional certifications, and prepared for the ASBO International SFO Certification Program.