WEFOUNDThe Local Board: Its Functions and Influence (Classic Reprint)


Like a central bank , a currency board is a country's monetary authority that issues notes and coins. Unlike a central bank, however, a currency board is not "the lender of last resort," nor is it the "government's bank." A currency board can function alone or work in parallel to a central bank; however, the latter is uncommon. This little-known type of monetary system has been around just as long as the more widely used central bank and has been used by many economies both big and small. (To learn more about central banks, see the article What Are Central Banks ?)

An Alternative to the Central Bank?
In conventional theory, a currency board issues local notes and coins in circulation that are "anchored" to a foreign currency (or commodity), which is also known as the reserve currency. The anchor currency is a strong, internationally-traded currency (usually the U.S. dollar, euro, or British pound), and the value and stability of the local currency is directly linked to the value and stability of the foreign anchor currency against. Consequently, the exchange rate in a currency-board system is strictly fixed. (To learn why some exchange rates are fixed while others are not, see the article Floating And Fixed Exchange Rates .)

Conversions and Commitments
Theoretically, for a currency board to function, it must have at least 100% of reserve currency available and have a long-term commitment to the local currency. As such, a currency board is required to use a fixed-rate of exchange and maintain a minimum amount of reserves as determined by law.

DUTIES, RESPONSIBILITIES, DECISION-MAKING, AND LEGAL BASIS FOR LOCAL SCHOOL BOARD POWERS
Joseph Beckham
Barbara Klaymeier Wills

Local school boards have been an integral feature of the U.S. public education system for nearly 100 years, and they are widely regarded as the principal democratic body capable of representing citizens in local education decisions. The formal institutional roles assigned to school boards, and the designated position board members play as representatives of the community, would lead one to believe that the school board has a decisive role in public education policy and school system administration. In the minds of many lay citizens, school boards have considerable influence over educational decisions and provide a key social and political connection to the schooling process.

Although research has affirmed the important role that local school boards played in implementing educational reforms such as student testing and graduation requirements, some critics have contended the traditional leadership and policymaking roles of local school boards have been compromised by bureaucratic intransigence, a tendency to micromanage school system operations, and divisiveness caused by special interest groups. While one researcher has suggested that lay control of schools is a myth, others have argued that the school board is essential to ensure the quality of public education services at the local level.

Like a central bank , a currency board is a country's monetary authority that issues notes and coins. Unlike a central bank, however, a currency board is not "the lender of last resort," nor is it the "government's bank." A currency board can function alone or work in parallel to a central bank; however, the latter is uncommon. This little-known type of monetary system has been around just as long as the more widely used central bank and has been used by many economies both big and small. (To learn more about central banks, see the article What Are Central Banks ?)

An Alternative to the Central Bank?
In conventional theory, a currency board issues local notes and coins in circulation that are "anchored" to a foreign currency (or commodity), which is also known as the reserve currency. The anchor currency is a strong, internationally-traded currency (usually the U.S. dollar, euro, or British pound), and the value and stability of the local currency is directly linked to the value and stability of the foreign anchor currency against. Consequently, the exchange rate in a currency-board system is strictly fixed. (To learn why some exchange rates are fixed while others are not, see the article Floating And Fixed Exchange Rates .)

Conversions and Commitments
Theoretically, for a currency board to function, it must have at least 100% of reserve currency available and have a long-term commitment to the local currency. As such, a currency board is required to use a fixed-rate of exchange and maintain a minimum amount of reserves as determined by law.

Like a central bank , a currency board is a country's monetary authority that issues notes and coins. Unlike a central bank, however, a currency board is not "the lender of last resort," nor is it the "government's bank." A currency board can function alone or work in parallel to a central bank; however, the latter is uncommon. This little-known type of monetary system has been around just as long as the more widely used central bank and has been used by many economies both big and small. (To learn more about central banks, see the article What Are Central Banks ?)

An Alternative to the Central Bank?
In conventional theory, a currency board issues local notes and coins in circulation that are "anchored" to a foreign currency (or commodity), which is also known as the reserve currency. The anchor currency is a strong, internationally-traded currency (usually the U.S. dollar, euro, or British pound), and the value and stability of the local currency is directly linked to the value and stability of the foreign anchor currency against. Consequently, the exchange rate in a currency-board system is strictly fixed. (To learn why some exchange rates are fixed while others are not, see the article Floating And Fixed Exchange Rates .)

Conversions and Commitments
Theoretically, for a currency board to function, it must have at least 100% of reserve currency available and have a long-term commitment to the local currency. As such, a currency board is required to use a fixed-rate of exchange and maintain a minimum amount of reserves as determined by law.

DUTIES, RESPONSIBILITIES, DECISION-MAKING, AND LEGAL BASIS FOR LOCAL SCHOOL BOARD POWERS
Joseph Beckham
Barbara Klaymeier Wills

Local school boards have been an integral feature of the U.S. public education system for nearly 100 years, and they are widely regarded as the principal democratic body capable of representing citizens in local education decisions. The formal institutional roles assigned to school boards, and the designated position board members play as representatives of the community, would lead one to believe that the school board has a decisive role in public education policy and school system administration. In the minds of many lay citizens, school boards have considerable influence over educational decisions and provide a key social and political connection to the schooling process.

Although research has affirmed the important role that local school boards played in implementing educational reforms such as student testing and graduation requirements, some critics have contended the traditional leadership and policymaking roles of local school boards have been compromised by bureaucratic intransigence, a tendency to micromanage school system operations, and divisiveness caused by special interest groups. While one researcher has suggested that lay control of schools is a myth, others have argued that the school board is essential to ensure the quality of public education services at the local level.

A board of education , school committee or school board is the board of directors or board of trustees of a school, local school district or higher administrative level.

The elected council helps determine educational policy in a small regional area, such as a city , county , state or province . It usually shares power with a larger institution, such as the government's department of education. The name of the board is also often used to refer to the school system under the board's control.

The government department that administered education in the United Kingdom before the foundation of the Ministry of Education was also called the Board of Education .


51xpcFrwduL