GASB's Efforts to Educate Parents about the Finances of their Child's Schools

GASB School District Guide

The Governmental Accounting Standards Board has published a second guide to understanding finances of public (K-12) schools (my guess is that the guide would be of some value; though less authoritative, for private K-12 schools and colleges and universities). Among the features of the guide are over 50 examples of financial statements, notes and schedules with accompanying commentary to help make these items easier to understand; examples of ratios which can be used to evaluate performance, an overview of financial reporting requirements for school districts and an extensive glossary of terms. The guide sells for $15 (probably about $20 including shipping).

This guide should be required reading for school board members; teachers (or at least their unions) and principals; schools of education at universities and journalists covering K-12 schools as part of their reporting responsibilities. I also recommend this for public administration and governmental accounting classes; community advocates; local TEA parties; churches and parents of K-12 students.