Help with definitions

For each term in the list below, write 1–3 sentences in which you define the term, explain its relevance to educational finance, and provide an example of its application within your professional context. Do not copy definitions from your text; articulate your understanding of the terms.

· Accounting

· Accounts payable

· Adequacy

· Appropriation

· Assessed valuation

· Attendance report

· Average daily attendance (ADA)

· Average daily membership (ADM)

· Bonded indebtedness

· Budget balance

· Categorical programs

· Certified personnel

· Classified personnel

· Consumer price index

· Cost-effectiveness

· Cost equalization

· Cost-of-living adjustment (COLA)

· Debt service fund

· Elementary and Secondary Education Act

· Encumbrances

· Foundation program

· Fund

· General fund

· General obligation bonds

· Parcel tax

· Prior year taxes

· Property tax

· Reserves

· School district tax rate

· School site budgeting

· Transfer payments

· Zero-based budgeting