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finance leadership
FELE
Question | Answer |
---|---|
Fund | A fund is defined as a fiscal and accounting entity with a self-balancing set of accounts recording cash and other financial resources, |
Revenues | are categorized by fund, source, and appropriation |
Function | refers to the objective or purpose of an expenditure. |
Object | means the goods purchased or the service obtained |
Examples 0f objects are | Salaries Employee Benefits Purchased Services Energy Services Materials and Supplies Capital Outlay Other Expenses Transfers |
Revenues | are categorized by fund, source, and appropriation. |
The activities of school districts are classified into four major functional categories | Instruction. Instructional Support Services. General Support Services. Community Services |
FEFP takes into account | the local property tax base; . costs of education programs; . costs of living (district cost differential or Mb); and . sparcity of student population |
How are funds allocated? | The FEFP uses a unit of measurement for each student called a “full-time equivalent” (FTE). One FTE equals 900 hours or one school year of instruction provided to a student. |
Florida Inventory of School Houses | FISH) |