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FSO EXAM 2 SCHOOL NUTRITION QUESTIONS AND ANSWERS WITH SOLUTIONS 2024
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FSO EXAM 2 SCHOOL NUTRITION QUESTIONS AND ANSWERS WITH SOLUTIONS 2024
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FSO EXAM 2 SCHOOL NUTRITIONQUESTIONS AND ANSWERS WITH
SOLUTIONS 2024
what a school nutrition director competent in financial management does - ANSWER develops financial
management guidelines that supports school nutrition program operational goals and comply with
regulations; establishes cost control goals to effectively manage the school nutrition program
financial management - ANSWER the process of defining the program objectives and financial goals for
the school nutrition programs and implementing activities to attain those goals through the effective use
of resources
the roles of school nutrition director in managing finances - ANSWER whose roles are these?
management of financial resources; maintain financial accountability; involve district administrators,
school board members, school nutrition managers, and school nutrition staff to identify goals; promote
team approach; assess, monitor, and evaluate program funds; maintain on-going training
generally accepted accounting principles (GAAP) - ANSWER uniform standard of guidelines for financial
accounting established by the Governmental Accounting Standards Board (GASB); used in school districts
for compliance with the Federal Department of Education requirements
classification of revenue - ANSWER what do these classify: local sources, state sources, federal sources,
miscellaneous sources, and fund transfer-in
classification of expenditure - ANSWER what do these classify: labor, employee benefits, professional
and technical services, property services, purchased food and USDA foods, supplies, capital assets,
miscellaneous, indirect costs, fund transfer-out
types of financial reports - ANSWER statement of activities, statement of net position, and budget
statement of activities - ANSWER revenue by source, expenditures by category, net/gain loss for the
statement period, comparison of current month with previous month's information and year-to-date
information
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