Financial Oversight for School Boards (State of Maine)

📜 Disclaimer and Legal Notice

Introduction and Course Overview

The Role of the School Board in Financial Oversight

The Role of the School Board in Financial Oversight Knowledge Check

Legal and Ethical Responsibilities in Financial Oversight

Legal & Ethical Responsibilities in Financial Oversight Knowledge Check

The Finance Committee and Audit Committee

The Finance Committee and Audit Committee Knowledge Check

Budgeting and the Board’s Role

Budgeting and the Board's Role Knowledge Check

Understanding Warrants and the Purchasing Process

Understanding Warrants and Purchasing Process Knowledge Check

The School Budget Process – From Planning to Implementation

The School budget Process Knowledge Check

Understanding the State Funding Formula in Maine

Understanding the State Funding Formula in Maine Knowledge Check

Federal Funds & Compliance – Title I, Special Education (IDEA), and More

Federal Funds & Compliance – Title I, Special Education (IDEA), and More Knowledge Check

Internal Controls and Financial Risk Management

Internal Controls and Financial Risk Management Knowledge Check

The Role of the Annual Audit

The Role of the Annual Audit Knowledge Check

Real Risks, Real Stories – Case Studies in Oversight and Failure

Real Risks, Real Stories – Case Studies in Oversight and Failure Knowledge Check

Introduction to School Board Oversight (Worksheets, Answer Keys & Checklists)

📜 Disclaimer and Legal Notice

Welcome and Course Overview

Why Committees Matter – The Value of Specialized Oversight

Why Committees Matter – The Value of Specialized Oversight Knowledge Check

Structuring an Effective Finance Committee

Structuring and Effective Finance Committee Knowledge Check

Audit Committees – Roles, Rules, and Responsibilities

Audit Committees – Roles, Rules, and Responsibilities Knowledge Check

Recruiting and Training Committee Members

Recruiting and Training Committee Members

The Role of the Business Manager and Superintendent

The Role of the Business Manager and Superintendent

Using a Financial Oversight Calendar

Using a Financial Oversight Calendar Knowledge Check

Reading and Interpreting Financial Reports

Reading and Interpreting Financial Reports Knowledge Check

Understanding and Overseeing Internal Controls

Understanding and Overseeing Internal Controls Knowledge Check

Recognizing and Responding to Financial Red Flags

Recognizing and Responding to Financial Red Flags Knwoledge Check

Collaborating with the Auditor and Understanding the Audit Report

Collaborating with the Auditor and Understanding the Audit Report Knowledge Check

Building and Sustaining Strong Financial Oversight Committees (Worksheets, Answer Keys & Checklists)

📜 Disclaimer and Legal Notice

Welcome and Course Overview

The School Budget Process – Timelines and Key Milestones

The School Budget Process – Timelines and Key Milestones Knowledge Check

Revenue Sources – Local, State, and Federal

Revenue Sources – Local, State, and Federal Knowledge Check

Expenditures and Cost Drivers

Expenditures and Cost Drivers Knowledge Check

Public Involvement and Transparency

Public Involvement and Transparency Knowledge Check

Budgeting and Financial Planning (Worksheets, Answer Keys & Checklists)

📜 Disclaimer and Legal Notice

Welcome and Course Overview

The Annual Audit – Purpose, Process, and What It Covers

The Annual Audit – Purpose, Process, and What It Covers Knowledge Check

What the Audit Doesn’t Cover – Common Misunderstandings

What the Audit Doesn’t Cover – Common Misunderstandings Knowledge Check

The Role of the School Board and Audit Committee

The Role of the School Board and Audit Committee Knowledge Check

Internal Controls – What They Are and Why They Matter

Internal Controls – What They Are and Why They Matter Knowledge Check

Monitoring and Enforcing Corrective Action Plans

Monitoring and Enforcing Corrective Action Plans Knowledge Check

Oversight and Accountability in School Finance (Worksheets, Answer Keys and Checklists)

📜 Disclaimer and Legal Notice

Special Topics in Financial Oversight Welcome and Course Overview

Federal Funds and Grant Compliance – What Boards Need to Know

Federal Funds and Grant Compliance Knowledge Check

Special Education Finance – Oversight and Risk

Special Education Finance – Oversight and Risk

Capital Projects and Debt Management

Capital Projects and Debt Management Knowledge Check

Food Service and Student Activity Funds – Safeguards and Oversight

Food Service and Student Activity Funds – Safeguards and Oversight Knowledge Check

Risk Management and Insurance Oversight

Risk Management and Insurance Oversight Knowledge Check

Special Topics in Financial Oversight (Worksheets, Answer Keys & Checklists)

📜 Disclaimer and Legal Notice

Working with District Administration Welcome and Course Overview

Roles and Responsibilities – Superintendent, Business Manager, and the Board

Roles and Responsibilities – Superintendent, Business Manager, and the Board Knowledge Check

Building a Collaborative Governance Culture

Building a Collaborative Governance Culture

Communication Protocols and Expectations

Communication Protocols and Expectations Knowledge Check

Evaluating Financial Leadership and Performance

Evaluating Financial Leadership and Performance Knowledge Check

Working with District Administration (Worksheets, Answer Keys & Checklists)

📜 Disclaimer and Legal Notice

Internal Controls and Audits Welcome and Course Overview

What Are Internal Controls and Why They Matter

What Are Internal Controls and Why They Matter Knowledge Check

Key Types of Internal Controls – Preventive, Detective, and Corrective

Key Types of Internal Controls – Preventive, Detective, and Corrective Knowledge Check

Common Internal Control Weaknesses in School Districts

Common Internal Control Weaknesses in School Districts

The Board’s Oversight Role in Internal Controls

The Board’s Oversight Role in Internal Controls Knowledge Check

The Role of the Auditor in Assessing Controls

The Role of the Auditor in Assessing Controls Knowledge Check

Creating a Culture of Control and Ethical Stewardship

Creating a Culture of Control and Ethical Stewardship Knowledge Check

Internal Controls and Audits

📜 Disclaimer and Legal Notice

Supplemental Course – Deep Dive on State and Federal Oversight Welcome and Course Overview

Understanding Maine’s State Education Funding Formula

Understanding Maine’s State Education Funding Formula Knowledge Check

Key State Reporting Requirements

Key State Reporting Requirements Knowledge Check

Oversight of Federal Funds (e.g., Title I, IDEA)

Oversight of Federal Funds (e.g., Title I, IDEA) Knowledge Check

Compliance and Risk Management

Compliance and Risk Management Knowledge Check

Deep Dive on State and Federal Oversight (Worksheets, Answer Keys & Checklists)

📜 Disclaimer and Legal Notice

Real-World Scenarios and Case Studies Welcome and Course Overview

Case Study – Audit Findings and Board Response

Case Study: Audit Findings and Board Response Knowledge Check

Scenario – Procurement Irregularities

Scenario: Procurement Irregularities Knowledge Check

Scenario – Budget Shortfall and Recovery Plan

Scenario: Budget Shortfall and Recovery Plan Knowledge Check

Budget & Budget Cycle

Financial Oversight

Audits & Audit Committees

Internal Controls