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Budget Basics Boot Camp Basic Training

Butte County Office of Education . Budget Basics Boot Camp Basic Training. Agenda. Basic Training -Basics of SACS -Break -Budget. Basics of SACS. Topics -What is SACS? -SACS Org Keys and Cost Centers -SACS Resource Codes -Fiscal Year/Project Year -SACS Object Codes -Using SACS.

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Budget Basics Boot Camp Basic Training

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  1. Butte County Office of Education Budget Basics Boot CampBasic Training

  2. Agenda Basic Training -Basics of SACS -Break -Budget

  3. Basics of SACS Topics -What is SACS? -SACS Org Keys and Cost Centers -SACS Resource Codes -Fiscal Year/Project Year -SACS Object Codes -Using SACS

  4. Basics of SACS What is sacs?

  5. What is SACS? SACS (Standardized Account Code Structure) is a series of account codes used to easily: classify revenues and expenses keep accounting in regulatory compliance facilitate financial reporting

  6. Basics of SACS SACS Org keys and cost centers

  7. What is an Org Key, basically? -An Org Key is an account number used to pay for goods and services and accept income -Each program has it’s own set of Org Keys -There are different Org Keys used for different type of revenues and expenses

  8. What is an Org Key, specifically? -An Org Key is a shortcut to a specific combination of SACS codes -This SACS code combination is like the DNA of the Org Key, it can and cannot do specific things because of it’s “DNA” -Like DNA, every Org Key is unique

  9. What are the SACS codes that makeup the DNA of each Org Key?

  10. What is an Org Key, specifically? Each Org Key contains a combination of these SACS Codes making up it’s “DNA”: Fund Resource Project Year Goal Function School Manager

  11. Types of Org Keys Due to the need for different specific SACS code combinations, BCOE has developed four main different types of Org Keys. They are: “Regular” Org Keys “OGA” Org Keys “Admin” Org Keys “M&O” Org Keys

  12. “Regular” Org Keys A “Regular” Org Key is used for the majority of program expenses, like: Books Salaries and Benefits Services Independent Contractors Equipment

  13. “OGA” Org Keys “OGA” stands for “Other General Administration”. An OGA Org Key is only ever used for two things: Indirect costs 2. Revenues

  14. “Admin” Org Keys “Admin” stands for “Administration”. An Admin Org Key is used for: Administration expenses as defined by your specific program Most common example is a school budget with “Site” expenses and “Admin” expenses

  15. “M&O” Org Keys “M&O” stands for “Maintenance and Operations”. An M&O Org Key is used for: Maintenance expenses “CU” or Cost Unit costs for pooled maintenance and operations expenses

  16. What is Cost Center? A Cost Center is: A group of related Org Keys with the same Resource Code A Cost Center generally contains at least one Regular Org Key and one OGA Key.

  17. Basics of SACS SACS resource codes

  18. What is a Resource Code? Generically, a Resource Code is the part of the SACS that: Classifies specific revenues and resulting expenditures Restricted programs generally each have their own resource code Reporting is generally done based on Resource Code

  19. What is a Resource Code? Here are some examples of Resource Codes at BCOE: Migrant Education - 3060 Juvenile Court School - 2400 After School Education and Safety – 6010 Routine Repair and Maintenance - 8100

  20. SACS Resource Code Matrix

  21. Basics of SACS Fiscal year/project year

  22. Fiscal Year A fiscal year, in California Schools, is: A year that runs 12-months From July 1 – June 30

  23. Project Year A Project Year: Is defined as any span of time Can last for as many or as few months required Is generally used for Federal programs as their year is 15 months; from July 1 through September 30

  24. Project Year Project Year Org Keys also have a two extra digits representing the project year at the end of the Org Key For example: If Org Key 30113 was made into a project year, it would be 3011314; the 14 represents the year ending in 2013-14.

  25. Basics of SACS SACS object codes

  26. What is a SACS Object Code? An Object Code is the part of the SACS code used for: Classifying expenditures by the type of item or services purchased Classifying revenue by source and type

  27. SACS Object Code Matrix

  28. More on SACS Object Codes The BCOE Administrative Services Operating Procedure explains, specifically, which Object Codes are used for which expenses. To access it, go to the BCOE website, www.bcoe.org, select “Administrative Services”, select “Procedures”, then select “Expenditures”.

  29. Basics of SACS Using SACS

  30. Using SACS Ensuring revenues and expenses are properly coded is not important, it is mandatory due to the SACS State Reporting Software, which tests for these errors.

  31. Coding Expenses To properly code an expense do the following:1. Select the correct Org Key 2. Select the correct Object Code 3. Write them in this manor: “Org Key-Object Code” For example, 0100007210-4300

  32. Examples For Fiscal Services to purchase copy paper: 0100007210-4300 For Title I, Part A to pay a teacher: 2042914-1100 For BTSA to pay for food for trainings: 67396-5800

  33. Butte County Office of Education Break

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