With passage of the Tax Reform Act of 1986, school systems became liable to the federal government for any profits earned on tax-exempt bonds. Understanding the requirements is essential for any board facing significant capital financing. Outlines requirements, exceptions to the rule, penalties, costs, and debt planning. (MLF)

To increase the reliability of forecasting school district income and expenditures, school business managers should clarify the purpose and time frame of the forecast; be sure the basic data are accurate; specify the assumptions; be consistent in calculation; examine data critically; and recognize that forecasting requires insight and intuition.…

School districts can improve their chances of avoiding financial difficulty by developing unreserved fund balance resources specifically for contingencies. Offers guidelines for establishing such a fund. (MLF)

Since 1977, school budgetary problems have been created by a decline in state and federal tax revenues combined with a greater demand for services and declining student enrollment. The serious erosion in the fiscal health of the 50 states over the last few years means that competition for tax dollars will increase, leaving government with the…

The Minnesota school finance system is the method by which funds are provided for the operation of public elementary and secondary schools and public postsecondary vocational-technical institutes. This document comprises a reference guide for state legislators to the Minnesota school finance system. It begins with historical and legal background…

This handbook explains the legal principles underlying the Illinois public education system, thereby providing teachers, administrators, and school board members with an understanding of the nature of the public school as a social and governmental institution. It also considers the legal status of Illinois teachers by defining their rights,…