Agenda - 12-09-2003-9a - Laserfiche WebLink

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315- The Carteret County Board of Commissioners contracted with MGT to conduct a financial review of Carteret County Schools. In this study, MGT analyzed the current funding structure and assessed how the school system is spending federal and state funds, and specifically analyzed how the school system uses local funds provided by the County. To gain an understanding of the financial situation in Carteret County Schools, MGT consultants collected comparison data from peer North Carolina school systems, reviewed existing state and school system data, and interviewed school system and county personnel. From these corresponding data, MGT consultants were able to formulate findings, commendations, and recommendations regarding the current financial policies and practices of Carteret County Schools. ----------------------- - - - - -� MGT °s FINANCIAL REVIEW WAS DESIGNED TO: • develop a detailed set of information about the status of each district fund source; • develop a summary report of the status of district financial resources by fund source (federal, state, and local dollars); • utilize findings to recommend strategies for improvements in the use of funds in Carteret County Schools; • prepare recommendations for improvement; and • develop strategies and a time line for implementing each rec- ommendation. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ J STUDY METHODOLOGY To assist the Carteret County Board of Commissioners in addressing financial issues related to the school system, as a starting point we used the set of study procedures and guidelines that were developed by MGT as a model for conducting effective management, education, and performance audits of schools and school districts throughout the country.These guidelines have been used effectively in previous MGT independent studies of schools and school districts in the states of Maryland, Tennessee ,Wisconsin,Virginia,Texas, California, Colorado, North Carolina, Ohio, South Carolina, Illinois, New York, Arkansas, Mississippi, and Florida. Prior to the formal on -site review, MGT' consultants were provided with information about Carteret County Schools operational structure and financial status. We then tailored financial review guidelines to reflect local policies and admin- istrative procedures; the unique conditions of Carteret County Schools; and the input of county Rnd school system leaders. Our on -site review included meetings with appropriate county officials and staff, central office and school -level staff, and re- views of documentation provided by these individuals.