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Adult Education Financial Matters. Adult Education Financial Matters. Accounting Codes EF-X-132 – Financial Page Budget Approval Process Other Issues Questions. Accounting Codes . Form the backbone of any financial reporting and accountability system

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Adult education financial matters1
Adult Education Financial Matters

  • Accounting Codes

  • EF-X-132 – Financial Page

  • Budget Approval Process

  • Other Issues

  • Questions


Accounting codes
Accounting Codes

  • Form the backbone of any financial reporting and accountability system

  • This structure gives an entity the ability to accurately and effectively report on its financial activities

  • Provide a uniform means for comparing & evaluating organizations (i.e. School Districts)

  • Maine DOE “Model Chart of Accounts”http://www.maine.gov/education/data/schfindata.htm



Accounting codes1
Accounting Codes

  • Expenditures use a series of levels in a hierarchy to identify the following:

    • The fund from which the funds are being expended

    • The program that is spending the funds

    • The function for which the funds are being spent

    • The object on which the funds are spent

    • The level of instruction associated with the expenditure (Cost Center)


Accounting codes2
Accounting Codes

  • Further they identify:

    • The project for which funds are being spent

    • The operational unit on which the funds are being spent

    • The subject matter on which the funds are being spent

    • The job class associated with the expenditure


Accounting codes3
Accounting Codes

  • Expenditures use a series of levels in a hierarchy to identify the following:

    • The fundfrom which the funds are being expended

    • The program that is spending the funds

    • The function for which the funds are being spent

    • Theobject on which the funds are spent

    • The level of instruction associated with the expenditure (cost center)


Accounting codes4
Accounting Codes

100 6500 1000 1010 40

  • These are the minimum categories in the State’s Chart of Accounts

  • Additional categories may be added for more local level detail


Accounting codes5
Accounting Codes

The fund from which the funds are being expended

100 6500 1000 1010 40


Accounting codes6
Accounting Codes

Examples of Fund Codes

Fund Code 150 may be used to specifically differentiate Adult Education from other General Fund expenditures if the LEA wishes


Accounting codes7
Accounting Codes

  • The program that is spending the funds

100 6500 1000 1010 40


Accounting codes8
Accounting Codes

Examples of Program Codes(specifically applicable to adult education)

* Summary Code


Accounting codes9
Accounting Codes

  • The function for which the funds are being spent

100 6500 1000 1010 40


Accounting codes10
Accounting Codes

Examples of Function Codes


Accounting codes11
Accounting Codes

  • The object on which the funds are spent

100 6500 1000 1010 40


Accounting codes12
Accounting Codes

Examples of Object Codes


Accounting codes13
Accounting Codes

  • The level of instruction associated with the expenditure (Cost Center)

100 6500 1000 1010 40


Accounting codes14
Accounting Codes

Examples of Cost Center Codes


Accounting codes15
Accounting Codes

  • Handbook - 2R

    • Out of date

  • Chart of Accounts

    • Required for all financial reporting to MDOE


Accounting codes16
Accounting Codes

Can you name these accounts?


Accounting codes17
Accounting Codes

Benefits for the teacher of an adult education CTE course


Accounting codes18
Accounting Codes

Supplies for an adult education high school completion course


Accounting codes19
Accounting Codes

Salary for an adult education teacher of an adult transitions course


Accounting codes20
Accounting Codes

Salary for an adult education Director


Accounting codes21
Accounting Codes

Salary for an adult education teacher of an adult transitions course


Accounting codes22
Accounting Codes

Salary for an adult education teacher of an college transitions course


Program codes
Program Codes

** Subsidizable Category



The EFX-132 is the Form for Reporting Your Programs Financial Information and Calculating Subsidy.


Ef x 132 page 1
EF-X-132 – Page 1 Financial Information and Calculating Subsidy.

  • FTE = Full Time Equivalent (expressed as a decimal)

    • FTE calculation based on a standard 40 hour work week

    • Hours worked = as stipulated in contract or other work agreement

    • Divide hours worked by 40

      • Work 20 hours FTE = .50

      • Work 32 hours FTE = .80

      • Work 19 hours FTE = .48


Ef x 132 page 11
EF-X-132 – Page 1 Financial Information and Calculating Subsidy.

  • Item #10 – Major Duties

    • These are NON-ADULT EDUCATION duties

      • Examples

        • Alternative Education Director

        • Affirmative Action Officer for district

        • Gifted and Talented Coordinator

      • DO NOT list duties that are part of the Adult Education Director’s job (e.g. intake, testing, designing the course catalogue, registrations, & submitting reports)

      • Being on the District’s Administration Team is considered part of the duties of an Adult Education Director


Ef x 132 financial page
EF-X-132 – Financial Page Financial Information and Calculating Subsidy.


Ef x 132 financial page1
EF-X-132 – Financial Page Financial Information and Calculating Subsidy.

  • Organization based on the hierarchy of the MDOE “Chart of Accounts”

  • Section A – Instructional Programs

  • Section B – Grants and Contracts (Fund 200)

  • Section C – Administration

  • Additional information and detail

  • Data used to calculate the Adult Education Subsidy (Items marked with an asterisk)


Ef x 132 financial page2
EF-X-132 – Financial Page Financial Information and Calculating Subsidy.

* = Subsidizable Expenditure


Ef x 132 financial page3
EF-X-132 – Financial Page Financial Information and Calculating Subsidy.


Ef x 132 financial page4
EF-X-132 – Financial Page Financial Information and Calculating Subsidy.

1.00

Line 10f on Page 1

Director’s Salary Detail Page 3


Ef x 132 financial page5
EF-X-132 – Financial Page Financial Information and Calculating Subsidy.


Ef x 132 financial page6
EF-X-132 – Financial Page Financial Information and Calculating Subsidy.


Ef x 132 financial page7
EF-X-132 – Financial Page Financial Information and Calculating Subsidy.

Director’s reported salary reduced by the 25% reflecting the percentage of time spent on Alternative Education

1.00


Accounting codes23
Accounting Codes Financial Information and Calculating Subsidy.

  • How do your codes stack up?

    • What differences exist

    • What will it take to reconcile those differences

    • What special needs do you have (for codes)

      • Unique programs

      • Local reporting expectations (e.g. multi SAU adult ed programs)

  • Would you be able/feel comfortable having the adult education financial data reported as part of the MDOE Data Warehouse reporting process?

Talk to your Bookkeeper NOW!


Financial reporting
Financial Reporting Financial Information and Calculating Subsidy.

  • FY2008

    • Data submitted on the EF-X-132

    • Data also submitted on the MEDMS Financial system

    • Data compared for accuracy and completeness

    • Actual Subsidy will be calculated from the EF-X-132

  • FY2009

    • Financial data submitted on the MEDMS system only


Subsidy calculation worksheet
Subsidy Calculation Worksheet Financial Information and Calculating Subsidy.

  • Fill in the amounts from the appropriate cells on the EF-X-132

  • Provides an estimate of your subsidy for the following year.

  • The one unknown is the Prorate


Questions on Financial Reporting Financial Information and Calculating Subsidy.


Recent financial issues and changes

Recent Financial Issues Financial Information and Calculating Subsidy.And Changes


Recent financial issues
Recent Financial Issues Financial Information and Calculating Subsidy.

  • Public Law of 2007 Chapter 131

    • Updated and revised adult education statutes

    • Codified Adult Education Warrant Article language

    • Added Adult Transitions to the subsidy formula

    • Clarified other definitions and processes

  • Revision of the Adult Education Regulation


Recent financial issues1
Recent Financial Issues Financial Information and Calculating Subsidy.

  • Public Laws 2008 – Chapter 599

    • Made technical corrections to the warrant language section of the adult education statutes

  • Administrative Letter #38

    • Clarified the School Budget Approval Process for 2008-09 (including adult education)

    • DOE & MAEA issued additional guidance relative to the adult education budget approval process


Recent financial issues2
Recent Financial Issues Financial Information and Calculating Subsidy.

  • Adult Education Budget Approval Process

    • Must have a separate warrant article for adult education

    • Warrant article must conform to the language in the statutes (Title 20-A Sec. 8603-a)

    • Warrant article voted on by the “legislative body” for the SAU

    • Adult Education is not part of the EPS cost centers and is therefore not subject to the validation referendum


Questions on Financial/Budget Issues Financial Information and Calculating Subsidy.


Got questions
Got Questions? Financial Information and Calculating Subsidy.


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