Governor Phil Murphy • Lt. Governor Tahesha Way

Fiscal Management

The Fiscal indicators are used to assess a school district’s performance and capacity in the area of finance. Districts will be assessed in the areas of finance for which the district board of education has direct oversight, including:

  • Produce financial reports monthly;
  • Maintain and update the standard operating procedures manual for business functions;
  • File an annual Annual Comprehensive Financial Report (ACFR) audit and other supporting forms and collections;
  • Satisfy the elements of the annual audit;
  • Manage and oversee entitlement and discretionary grants, as required;
  • Properly oversee the accounting for capital projects in Fund 30;
  • Implement, review and revise projects to ensure consistency with the approved long‐range facilities plan;
  • Secure county office approval for emergent projects;
  • Conduct annual health and safety reviews according to regulations;
  • Create and follow a budget calendar;
  • Employ a buildings and grounds supervisor who possesses a valid NJDOE authorization to serve as a certified educational facilities manager;
  • Transfer funds during the budget year in accordance with statute and budgetary control provisions;
  • Prepare and analyze fiscal‐year cash flow management for all funds;
  • Submit reimbursement requests for federal grant awards for the actual amount of incurred expenditures; and,
  • Approve only purchase orders permitted by the purchasing agent.
  • Fiscal PowerPoint