Syllabus

COURSE DESCRIPTION

This course is OKASBO’s second level course of the School Business Academy.  The course is designed to provide participants with an overview of the statutes, policies and principles of finance and business that provide the foundation for school budgeting, receiving, expending and reporting and accounting for school funds. 

INSTRUCTOR(S)

The course is offered by OKASBO.  Instructors for each section of the course will vary.  

PREREQUISTES

• Successful completion of the Foundations of School Business Course (Level I)

• Employed by a public school in Oklahoma

• Desire to learn about Oklahoma school business

• Be able to perform basic math calculations

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

COURSE SCHEDULE

• In-person class

• 4 days (24-28 class hours)

• 2 consecutive days in the summer/fall; 2 days in the winter/spring

• Approximately 7 hours per day

OBJECTIVES

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

• Annual School Budget

  • Understand the concepts of the Oklahoma School Budget Act, estimate of needs, and other relevant terms associated with preparing, approving and submitting an annual budget. 

  • Understand the procedures and process for preparing, submitting and approval of the school district’s budget.

• Accounting

  • Understand public school accounting principles and have a basic understanding of the history, purpose, and principles of the Oklahoma Cost Accounting System, and its use in reporting school revenue and expenditures.

• Expenditures and Encumbrances

  • Understand the legal process for the encumbrance of funds, reporting expenditures to the school board and the roles and responsibilities of the designated encumbrance clerk.

• Revenue & Treasurer

  • Understand the process and procedures for statutory accounting and reporting revenue.

  • Understand roles and responsibilities of the designated treasurer and segregation of duties between treasurer and encumbrance clerks.

  • Understand investments and cash flow.

• Procurement

  • Understand basic public procurement principles, federal and state procurement statutes, and the importance of local procurement policy.

• Activity Fund

  • Understand the purpose of the Activity Fund and the statutory requirements for budgeting, approval and expenditure of those funds.

• Federal Programs

  • Understand federal program funding and be able to identify the differences between federal grants, title funding, and state and local revenue.

  • Understand the concepts of supplanting, maintenance of effort, and comparability.

• School Audits

  • Understand the statutory requirements for hiring, conducting and reporting an annual external audit.

• Fixed Assets & Inventory

  • Understanding basic inventory and asset tracking and reporting, including some federal fund requirements.

REQUIRED TEXT

• Materials, presentations, and handouts will be provided by speakers. 

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

• Participants should bring a Wi-Fi-enabled tablet or laptop to the class. 

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 pass a competency assessment at the end of each two-day session (passing is at least 70% correct)

CERTIFICATION

• Upon successful completion (attendance & competency assessment), the participant will be awarded the designated core certificate for the class.  

• This course is required for obtaining the Oklahoma ASBO Certified School Business Specialist, Certified School Business Official, and Certified School Business Administrator Certification