A Nevada school board has instituted an internal audit committee to review how well the school system is operating, financially and otherwise. Describes committee organization and suggests a code of conduct for school systems that addresses the following situations: gifts, influence, conflict of interest, privy information, and confidentiality.…

A permanent inhouse auditor at the Tacoma (Washington) school district provides assurance to the administration that complex systems and procedures are effective and that financial reports are accessible. Lists criteria for defining the auditor's role and methods for evaluating the auditor. (MLF)

For school systems, the Tax Reform Act of 1986 increased the relative cost of borrowing and put greater limits on investment opportunities. Offers tips to help school boards ask the right questions to take advantage of all possible opportunities. (MLF)

A school district audit committee has the capacity to unearth pertinent information about the operating efficiency and effectiveness of a school district, as well as providing a more professional audit. (Author/WM)

Written policies and administrative procedures in the school business office are necessary so transition and change will go smoothly. Provides a sample from the policy department of the Illinois Association of School Boards. (MLF)

Offers guidelines for school board members in building a school budget. Includes a sample budget timetable, basic financial facts about the school district that boards should have at hand, and how to monitor the budget after it is approved. (MLF)

Less than 5 percent of charter schools have been shut down nationwide. Charter school advocates say closings prove that accountability measures already present in law and in practice are working. Critics counter that closings often reveal that more oversight is needed. Discusses fiscal mismanagement and the need for training. Summarizes…

Guidelines are offered for choosing an outside auditor for objective and thorough examination of school financial statements. Included is advice on using a selection committee, preparing a detailed explanation of expectations for the audit, evaluating competing firms, and weighing cost estimates. (MJL)

A South Carolina school district changed food service from a financial loss to a profit. Recommends that food service managers record meal revenues and expenses when they occur and study the profitability of each program. Selling meal tickets in advance provides some control over the number of students who purchase meals. (MLF)

A cash flow analysis is charting expenditures and revenues against a factor of time. Explains how school systems can, by charting the congruency of revenues and expenditures carefully, develop an investment program to take maximum advantage of a positive cash position. (MLF)

Educators can learn from business people accounting models that can be applied to managerial accounting, integrated information systems, focused/activity-based costing, decentralized information, and mission-driven costing. A sidebar discusses measuring technology's impact. (MLF)

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)