Purpose: Public education is an important institution in any democracy, and the significant resources invested form a critical pillar in its provision. The evidence used to manage said resources is, therefore, an important issue for education leaders and a matter public interest. The purpose of this paper is to consider the role education finance…

In this opinion piece, the author reflects on some similarities with the National Health Service (NHS) in England, which has a long history of leadership tensions as hospital trusts have tried to wrestle administrative and operational decision-making away from clinicians and consultants.

Traditionally, district and corporate leaders regarded chief financial officers, or CFOs, as chief accountants. They were the individuals tasked with ensuring financial compliance, settling the books, creating reports, and cutting costs. The CFO was inherently risk averse and internally focused; he or she was there to backstop the ambitious plans…

The purpose of this study was to identify financial management strategies that school business officials have found most successful in achieving school district financial stability. To accomplish, 208 Illinois school business officials in six counties: Cook, DuPage, Kane, Lake, McHenry, and Will counties, excluding Chicago School District 299,…

The National Association of College and University Business Officers' (NACUBO's) "Guide to Unitizing Investment Pools" addresses the principles and concepts for administering a consolidated investment pool. Unitization is the mechanism by which investment funds are pooled to maximize investment efficiencies and provide information for donors,…

State fiscal support for public higher education is declining, particularly during recessionary periods. Public colleges and universities have limited channels of revenue and depend on state appropriations for current operating needs. There is an imperative now for public institutions to do more with less, be more efficient and effective in order…

School business officials are best equipped to lead in funding operating and capital needs because they understand the need for a methodical means of funding ongoing costs over time and the benefits of planning for future financial needs rather than letting emergencies dictate spending priorities. A capital-financing plan makes it possible to…

Issuing long-term debt can be a complex, multifaceted process. Although the process varies by stare, typically the school business official and the district solicitor work with the financing ream, which includes a financial adviser, bond counsel, underwriter, raring agency, and possibly a bond insurance agent, paying agent, and architect.…

Internal accounts offer schools a faster, more convenient way to handle the income and expenses that result from student fees, school clubs and organizations, field trips, fund-raising, and similar activities. But this convenience also incurs the added risk of fraud. Fortunately, there are proven ways to strengthen internal controls and reduce…

Today's school business officials are more aware than ever of the importance of making every dollar count. As they scour their budgets for possible savings, they may be tempted to reduce investment in school infrastructure, perhaps by deferring maintenance, renovations, and replacement of outdated facilities. However, school business officials…

All private colleges and universities make strategic capital investments and consider the use of debt to fund those investments. From the commonplace purchase of photocopiers to the construction of new academic buildings or dormitories, investment decisions that yield long-term financial benefits must follow on the heels of careful analysis. To…

This handy desk reference will help readers and their institutions develop and maintain a professional environment that will maximize efficiencies and provide the necessary skills to properly manage operations and portfolios while ensuring that students receive fair and equitable service and opportunities. Written for business officers, financial…

Argues that well-management college endowments and reserves can appreciate beyond inflation and serve as a source of increased resources. Looks at the ground rules of investment management in terms of stating investment objectives, investment restrictions, appropriate asset mix, and investment services. (AYC)

Outlines several major areas involved in issuing bonds to finance school buildings and other projects. Basic financing structures include general obligation bonds, lease revenue bonds, and tax anticipation notes. Explains competitive or negotiated sale process and the roles of financial advisor, underwriter, and bond counsel. (MLF)

To help improve school district financial management, the Association of School Business Officials at its 1980 annual meeting held a special session consisting of 20 "mini-workshops" about successful, field-proven practices in school budgeting, accounting, auditing, and other financial tasks. This document provides summaries of the…