Seminar Essay

405 WordsNov 23, 20102 Pages
GASAC Update- W. Daniel Ebersole • He didn’t seem like he was prepared for the presentation and was just reading from the slides. • Talked about GASB, what it is and what it does and how the standards are set and also about GASAC members • Pension Accounting 1. Funded portion- plan becomes primarily responsible for the obligation to employees to the extent plan assets have been accumulated to provide for payments for benefits. 2. Unfunded portion- Employer remains primarily responsible for the obligation to employees to the extent the obligation exceeds plan assets. It should be recognized as a liability. Budgeting – On a Mission- Betty Pendergrass • The goal of governmental budgeting is to outline fiscal policy for funding and allocate existing resources. • Traditional budgeting- taking last years budget and cut it. Doesn’t seem to be working, the community may not be the same as the last year. • Budget for Outcomes- set the price, buying results that matter, find better choices, and choose those results that citizens value at a price they are willing to pay. This type of budget focuses on results, not budget input, and allows citizens to evaluate priorities versus the price they pay for services. ARRA’s Effects on Education in Michigan- Margaret Madigan • Unprecedented Federal funding, Education Stabilization Fund, $1.3 billion total • Most funding goes to Title I. Each school receiving Title I, Part A funds is required to have a school improvement plan-Schoolwide or Targeted Assistance • Examples of opportunities to misuse funds: economic pressures provide an excuse that won’t work, do it right the first time, or consequence to pay funds back School District Update- John Brooks, Glenda Rader, Gloria Suggitt • Because all three of them were speaking, they all went through the slides way too fast, sometimes even skipping some. There was

More about Seminar Essay

Open Document