Daniel Lunghofer Mike Dooley Ramona Garner

Transcription

1 Daniel Lunghofer Mike Dooley Ramona Garner 1

2 2

3 FY Accounting Manual Updates The Accounting Manual is published cooperatively by OSPI and SAO. The School District Accounting Advisory Committee (SDAAC) makes recommendations for updates to the manual in their role of advising on accounting, budgeting, financial reporting, and related matters. SDAAC meetings are scheduled now through December 2012 for the Accounting Manual updates. The SDAAC web page: Has the complete description of changes to the manual. Has meeting agendas, materials, list of committee members, etc. 3

4 FY Accounting Manual Updates Throughout entire publication: Corrected typos. Attempted to standardize heading styles. This results in a visual change throughout the manual. 4

5 FY Accounting Manual Updates Chapter 4 General Ledger Accounts: New GL 819 Restricted to Fund Purposes (ASB). New GL 825 Restricted for Skills Centers (GF, CPF). New GL 828 Restricted for Carryover of Food Service Revenue (GF). Opened GL 830 Restricted for Debt Service in DSF. 5

6 FY Accounting Manual Updates Chapter 5 Revenues and Other Financing Sources Added Revenue 8200 Private Foundations. Added language to Revenue 2500 that material amounts from private foundations should be recorded in Revenue Deleted Revenue Technical correction to Revenue 5600 Qualified Bond Interest Credit Federal. 6

7 FY Accounting Manual Updates Chapter 6 Expenditure Accounts: Changed Activities 23 and 25 for attendance activities. Merely reporting attendance is Activity 23. Monitoring and correction of nonattendance issues is Activity 25. 7

8 FY Accounting Manual Updates Chapter 7 Journal Entries: Added journal entries relating to Medicaid reimbursement receipts. Due to rule changes, districts must submit a payment to the State Health Care Authority for Medicaid reimbursement. 8

9 FY Accounting Manual Updates Appendix B Notes to the Financial Statements: All three Notes have been re-written and updated. When preparing their Notes, districts should utilize the most current version of Notes that are available. 9

10 FY Accounting Manual Updates New Food Service Program guidance added to Appendix E. Carryover: Net Income Carried over in GL 828. Net Loss Not reported on F-196; may be carried forward up to five years. Carryover amounts can be netted against one another. 10

11 FY Accounting Manual Updates Food Service Program Net Income Estimation: Start with all XX98 Revenues. Subtract total food service expenditures. Direct expenditures (Program 98). Add indirects using Federal Unrestricted Rate to all direct costs (Objects 2-7), EXCEPT food costs (Activity 42). Final calculations done by Child Nutrition Services. 11

12 Fund Balance Reporting Update ASB Funds: Considered Restricted due to enabling legislation. FY , report in GL 810; FY and beyond, report in GL 819. Debt Service Funds: Report balance of levy receipts and interest over expenditures in GL 810 (FY ) or GL 830 (FY and beyond). 12

13 Fund Balance Reporting Update Capital Projects Funds: Discussion with SDAAC during the summer will clarify fund balance reporting for the CPF. Transportation Vehicle Funds: Discussion with SDAAC during the summer will clarify fund balance reporting for the TVF. All Fund Balance reporting guidance will be included in Appendix C. 13

14 FY Budget Update Mike Dooley, CSBO Supervisor, School District/ESD Budgeting (360)

15 FY Budget Update New Items: Added: Revenue Account 8200 Private Foundations. Closed: Revenue Account 4134 Middle School CTE. 15

16 New Items: FY Budget Update Duty code suffix 4 for specific innovative activities allowed for Object 2 Certificated Duty Codes(s) in all authorized school district programactivity-duty code combinations for the following duty root codes: 31, 32, 33, 40, 41, 42, 43, 44, 45, 46, 47, 48, and

17 New Items: FY Budget Update Added GL 825 Restricted for Skills Center in GF and CPF. Added GL 828 Restricted for Carryover of Food Service Revenue in GF. Added GL 819 Restricted to Fund Purposes in ASBF. Opened GL 830 Restricted for Debt Service in DSF. 17

18 New Items: FY Budget Update Page CP6: Input/Report Options: Insert new column Item No. 035 Type Code 35 Instruction Technology and change Type Code 30 Equipment to Item No Item No. 031 will now be the total of Item Nos and displayed as the C/S value of 30 Equipment under Expenditures found on Page CP1. Condense three Type Code columns Debt Principal - Debt Interest - Arbitrage Rebate into a single Type Code column 90 Debt. Item No. 091 will now be the total of Items Nos and displayed as the C/S value of 90 Debt Expenditures under Expenditures found on Page CP1. 18

19 FY Budget Update Budgeted Beginning Fund Balance Review: OSPI will review each school district s budgeted beginning fund balance once the F-196 information is received. The budgeted ending fund balance will be recalculated based upon the actual ending fund balance from the F-196. If the result is a negative fund balance, your school district can expect a request from OSPI to revise its budget. Your school board will have 30 days of receiving notice to submit a revised budget to OSPI. 19

20 FY Budget Update Budgeting Receivables: If your school district is unable to submit a budget extension (or budget for that matter) when revenues and fund balance do not exceed expenditures, it must request in writing to include receivables, collectible in future periods, to balance the budget or budget extension. When a school district budgets receivables, OSPI places it under binding conditions which is intended to have it recover from its deficit budget situation and move to a stable financial position. This usually places your ESD in an oversight position of your school district s financial operations. 20

21 FY Budget Extensions Budget Extension Reminder: We know all of you are busy preparing your new year budgets, but don't forget any remaining current year budget extensions. August is the final month to file your F-200 budget extensions with OSPI. Depending on when you submitted your current year F-200 for approval and when you printed your new year F-195 budget document, you may need to reprint your new year budget to allow your current year budget extension to be accurately displayed in the middle column of your new year F

22 FY Budget Extensions Budget Extension Reminder: Review budget monthly to determine necessity of an extension. Must complete a budget extension prior to incurring expenditures in excess of the total appropriations as required by RCW 28A For 1 st class school districts, adopted and filed prior to incurring expenditures that exceed the appropriation in each fund. For 2 nd class school districts, adopted and approved by both the ESD and OSPI prior to incurring expenditures that exceed the appropriation in each fund. The ESD and OSPI will adjust budget extensions that do not meet this requirement. WAC requires that the Associated Student Body initially review revisions to the Associated Student Body (ASB) budget. Therefore, an extension of the ASB Fund budget should occur prior to the closing of school to secure the necessary student involvement. 22

23 F-197 County Treasurers Report Cash File Reminder: F-197 application in EDS is available to school districts for (recommended) monthly reconciliation to your county treasurers report. F-197 Reconciliation Excel template is in Chapter 5 of the Administrative, Budgeting, and Financial Reporting (ABFR) Handbook. Amended WAC is effective May 6, The rationale behind replacing the phrase ending net cash and investments, revenues and expenditures with the more generalized word amounts is that the proposed language allows districts to reconcile in a more appropriate way and makes sure that there is agreement between the county treasurers records and the school districts records. 23

24 FY F-196 Update Ramona Garner Supervisor, School District/ESD Financial Reporting (360)

25 Chapter WAC Timely Reporting : Authority : Purpose : Definition Extenuating circumstances : School district and educational service district reporting responsibilities : Superintendent of public instruction reporting responsibilities : Failure to submit timely general apportionment data : Failure to submit timely annual financial statements : Extension of time for filing annual financial statements : Corrections to data reported to the superintendent of public instruction : Documentation requirements. 25

26 FY F-196 Update The dates below have not changed. Please make a note of these dates now, it is not too early to start gathering the needed data and balancing system items for year-end closing. Starting now on this process will make meeting the below listed dates easier for you. Final Action Date October 25 November 1 November 8 November 15 Action School Districts - Final date for submission of completed F-196 data from the school district to the local ESD. The data will be submitted electronically and/or on an F-196 manual form. Districts not able to submit by the October 25 due date may request a waiver by or written notice to the ESD. ESDs - Final date for the ESD to review and forward the certification page back to the school district for signature. School Districts - The signed certification page is due from the school district to the ESD. ESDs - Final date the signed certification page by the ESD is due at OSPI, School Financial Services. 26

27 FY F-196 Update In accordance with WAC , districts and ESDs that fail to adhere to the due dates could have a delay of apportionment payments. The final date for filing or forwarding will be considered as having been met if the postmark or other evidence indicates shipment prior to the due date or the next workday if the due date falls on a weekend. 27

28 FY F-196 Update The F-196 Process is completed in the EDS platform. If you have not accessed the EDS platform, contact your ESD for assistance. 28

29 FY F-196 New Items/Changes Several changes were made as described in Bulletin No The following items have been removed: Program 63 Promoting Academic Success Revenue Accounts 4163 and 7163 Promoting Academic Success. Revenue Account 4175 Professional Development Changed the name of Activity code group 30 to Instructional Support. Added Activity code 31 Instructional Professional Development and Activity code 32 Instructional Technology to all programs except Programs 97, 98, and

30 FY F-196 New Items/Changes (cont.) In the Capital Projects Fund, the following Expenditure Type codes were added: Type Code 35 Instructional Technology was added. The name of Type code 60 was changed to Bond/Levy Issuance. The name of Type code 61 was changed to Bond/Levy Issuance and/or Election. 30

31 FY F-196 New Items/Changes (cont.) In the Transportation Vehicle Fund, the following Expenditure Type codes were added: 30 Equipment: Type code 33 Transportation Equipment Purchase. Type code 34 Transportation Equipment Major Repair. 60 Bond/Levy Issuance: Type code 61 Bond/Levy Issuance and/or Election. 90 Debt: Type code 91 Principal (formerly Activity 84). Type code 92 Interest (formerly Activity 83). Type code 93 Arbitrage Rebate. 31

32 FY F-196 Update On The Data Requirements for End-of-Year Reporting to Apportionment and State Recovery Rate Report you must enter item number 160 Education Jobs Funds (EduJobs). The state funding for Learning Improvement Days were eliminated again in This entry will removed from F-196 reporting. There are no changes to the manually entered distorting items such as election expenses, flowthrough grants, alterations/renovations, and fines/penalties. This data is used in the Federal Restricted and Unrestricted Indirect Rate. 32

33 FY F-196 Update There are no changes to the manually entered Indirect Expenditures. The district should enter audit costs, legal costs, public relations expenditures, termination leave for federally supported staff, information system expenditures, pupil management and safety costs, and space and occupancy costs, if a cost plan has been established. Remember that legal costs are very restrictive. Only enter costs associated with the interpretation of laws, regulations, or board policy. Also remember that no student record costs can be entered for Information Systems. Only enter costs associated with fiscal systems (i.e., WSIPC fees, district-wide IT support). 33

34 Maintenance of Effort and Recovery and Carryover Templates The Federal Cross-Cutting and Special Education MOE tests are complete. The MOE templates have been updated and posted to our website under Training/Tools at Districts are encouraged to access these templates to run the MOE tests for mid-year and budget purposes and the recovery and carryover information. 34

35 Other Notes of Interest After your ESD approves your F-196, and you feel that your financial statements are correct, you can proceed with your year-end close. Any review of the district s F-196 by OSPI does not affect the district s year-end close process. If your district requires that an F-196 revision be made, please contact Ramona Garner via at: (ramona.garner@k12.wa.us) to request an MS Word document. Upon receipt of your I will send the district s F-196 and instructions for making revisions. Don t forget to copy your ESD when making a revision request. 35

36 Questions/Comments?? Questions and comments are always welcome and appreciated. Whenever possible, ing your questions is beneficial in assuring that OSPI understands your question and allows a paper trail for OSPI and the district if the question should arise again. 36