EDS741 Financial Management (3 cr.)
The emphasis of this course is on budget allocation, planning, reporting, and auditing laws and rules governing schools and school districts in Minnesota. Financial systems at the state, district, and school levels are evaluated. The course reviews the historical development of state funding for public education in Minnesota.
Upon completion of the course, students are expected to be able to do the following:
- Describe the historical progress of public education funding in Minnesota including the overall scope of the current system used to fund schools.
- Calculate and apply the various revenue formulas used to finance schools in Minnesota.
- Apply the principles of fund accounting used in the Uniform Financial Accounting and Reporting System for Minnesota Schools (UFARS) in the development of budgets and the chart of accounts.
- Research the Minnesota property tax system that relates to school finance.
- Evaluate differing methods of budget development, their implementation, and their strengths and limitations.
- Analyze the legal issues involved in school financial management.
- Explain the need for accurate fiscal records for school and district finances, and budgets.
- Analyze options for allocation of personnel and material resources.
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