Wgu D023 School Financial Leadership Study Guide With Complete Solution

callable bonds {Ans: Bonds that give the issuer the option to retire them at a stated amount prior to maturity. -may cost more -"refundable"}payments in lieu of taxes {Ans: Amounts paid by one government in place of property taxes they are not required to pay. Generally occurs when a jurisdiction contains a substantial amount of facilities of other governments; for example, when the federal government makes payments to a local school district in lieu of property taxes it would be required to pay on a military base within the district if federal property were not tax-exempt.}What type of budget? The superintendent charges a principal to create a budget that justifies each and every expenditure made at the campus. {Ans: Zero-based A zero-based budget is a model where a principal is charged (typically by the superintendent) to justify every expenditure made in a campus budget beginning with zero dollars. This process is typically used less frequently and is designed to justify budgetary needs.}Rate Bill {Ans: an obsolete requirement that each pupil pay a specific amount of money to attend school}line-item, or "traditional," budgeting; {Ans: Line-item budgeting is the most common approach used in schools because of