GENERAL FUND: Local and county taxes, state aid, dedicated state revenue, federal program reimbursement, other reimbursements.
Uses: Payroll, transportation, supplies, materials, furniture, equipment, textbooks, general operating expenses.

BUILDING FUND: Local and county taxes.
Uses: Repair and maintenance of facilities, furniture, equipment, utilities, custodial

CHILD NUTRITION FUND: Student and staff lunch purchases, state and federal reimbursements.
Uses: Food, payroll, supplies and equipment.

BOND FUNDS: Sale of bonds after voter approval.
Uses: Construction projects, furniture, equipment, uniforms, textbooks, school buses, etc.

ACTIVITY FUNDS: Student activities, fundraisers, vending commissions, donations
Uses: Student activities, supplies, materials, equipment, refreshments.

SINKING FUND: Local taxes after voter approval of bonds.
Uses: Bond principal and interest payments

GIFT FUND: Restricted grants from privates sources.
Uses: As specified in grant.

SANCTIONED PARENT GROUPS (not district money): Fundraisers, donations, dues.
Uses: Support of student and school activities (wider latitude than activity fund).

FUND BALANCE

The "unencumbered" or "available" balance of funds at the end of a fiscal year. This is also referred to as a carryover or surplus.

WHY IS A FUND BALANCE NECESSARY?

1. To pay operating expenses during the first half of the year before the majority of ad valorem taxes are collected.
2. To meet any unanticipated expenses.
3. To help fund budgets if planned expenditures exceed anticipated revenues (e.g. funding cliff when one-time revenue sources are not replaced or operating expenses are anticipated to increase for reasons such as a new school opening).

Impact on education funding

• The recession of 2008 greatly impacted state revenues and jeopardized public education.
• The federal government responded in 2008-2009 by providing one-time supplemental funding for Title I (disadvantaged) and IDEA (special ed.) programs.
• Further federal assistance was afforded to states in 2009-2010 in the form of fiscal stabilization and education jobs funding to retain jobs and "fill the hole" in funding.
• Once exhausted, one-time federal stimulus money was not replaced by state funding, creating a "funding cliff" in 2012-2013.
• Per pupil funding to the state aid formula has been cut more deeply in OKlahoma than any other state since 2008.

• Any growth in local taxes is deducted from state aid.
• Any growth in dedicated state revenue (e.g. motor vehicle collections, gross production tax, school land earnings) is deducted from state aid.
• Grants and donations are usually specific in purpose and are not intended for operating expenses.
• Money from other funds (e.g. building fund, child nutrition fund, bond funds) is restricted in the ways it can be spent.

1. Non-payable warrants
   1. Similar to overdraft protection
   2. Short-term cash flow solution
2. Lease-purchase agreements
   1. lease which transfers ownership of asset at end of term
3. Bonds
   1. Requires 60% approval by voters
   2. Restricted to capital expenditures
   3. At least 85% of proceeds must be spent on projects listed in the bond resolution approved by voters
   4. Bond proceeds and interest earnings cannot be used to pay salaries, benefits or related costs