Budget development
This presentation is the property of its rightful owner.
Sponsored Links
1 / 28

Budget Development PowerPoint PPT Presentation


  • 89 Views
  • Uploaded on
  • Presentation posted in: General

Budget Development. Kern County Superintendent of Schools Division of Administration and Finance . What is a budget?. Spending Plan Critical Financial Management Tool District Goals and Priorities Expressed in Dollars. Major Budget Variables. Student Enrollment Student Attendance

Download Presentation

Budget Development

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


Budget development

Budget Development

Kern County

Superintendent of Schools

Division of Administration and Finance


What is a budget

What is a budget?

  • Spending Plan

  • Critical Financial Management Tool

  • District Goals and Priorities Expressed in Dollars


Major budget variables

Major Budget Variables

  • Student Enrollment

  • Student Attendance

  • School Facilities

  • Educational Funding/Revenues

  • Program Expenditures

  • Board Priorities


When is it due

When is it due?

  • Single Adoption

    • July 1st

  • Dual Adoption

    • September 8th


What to file

What to file?

  • Source – SACS software

    • Adopted Budget for all Funds

    • Average Daily Attendance (Form A)

    • Revenue Limit Summary (Form RL)

    • Technical Review Checklist (Form TRC)

    • Criteria and Standards Review (CS)

    • Summary of Interfund Activities for all funds (Form SIAAB)


What to file1

What to file?

  • SACS (con’t)

    • Certification of Budget Adoption with required 2 signatures

  • Multi-Year Projection

    • SACS

    • School Services

    • Excel Spreadsheet

    • Include detailed assumptions


What we look for

What we look for…

  • Budget Review checklist

    • Certification page submitted and signed

    • Summaries of interfund activities agree with transfer detail in all funds

    • Form A: Estimated Actuals agree with school district attendance reports and budget ADA agrees with form RL


What we look for1

What we look for…

  • General Fund Review: Actuals and Budget

    • Verify that summary/detail totals agree

    • Verify that the restricted columns on page 2, line F, are zero or positive

    • Verify that any contributions to restricted programs were entered on the detail pages and agree with the summary page

    • Verify that the ending balance for the prior fiscal year, line F2, equals the beginning balance for new fiscal year line F1a


What we look for2

What we look for…

  • General Fund Review: Actuals and Budget

    • Verify that the current year beginning balance, line F1a, equals the ending balance reported to the CDE last year

    • Verify that the components of ending balance equal line F2

    • Verify that apportionment, object 8011, agrees with the form RL

    • Verify that property tax accounts, 8021-8089, equal the amount listed on the form RL, line 25


What we look for3

What we look for…

  • General Fund Review: Actuals and Budget

    • Verify that the PERS reductions are entered on page 4 (8092), offset on page 7 (38xx) and agrees with the form RL, line 21. Remember that the offset of expenditures may be divided up among the various funds

    • Verify that Special Ed, Continuing Ed, Community Day school ADA transfers are entered on page 4 (8091)


What we look for4

What we look for…

  • General Fund Review: Actuals and Budget

    • Accounts 5710 and 7310 net to zero in columns C and F

    • Accounts 5750 and 7350 are offset with equal amounts in special funds

  • Revenue limit summary submitted and agrees with the general fund

  • Verify that SACS forms match budget reports (BDX110)

  • TRC check


Reasonable budget estimates

Reasonable Budget Estimates

  • Reasonable Budget estimates for

    • Revenue limit sources (ADA)

    • Federal sources of revenue

    • State categorical revenues

    • Local sources of revenue

    • Certificated salaries

    • Classified salaries


Reasonable budget estimates1

Reasonable Budget Estimates

  • Reasonable Budget estimates for

    • Employee benefits

    • Books and supplies

    • Services

    • Capital Outlay

    • Other Outgo

    • Transfers

    • Other sources/Uses


Criteria standards review

Criteria Standards review

  • Criteria Standards review

    • ADA variance

    • Deficit variance

    • Minimum reserve level

    • Fund balance trend

    • Contingent liabilities

    • Use of one-time resources

    • Special Ed funding


Criteria standards review1

Criteria Standards review

  • Criteria Standards review

    • Multi-year commitments

    • Contributions to restricted programs

    • Retiree health and welfare liability

    • Temp borrowing between funds

    • Capital Projects

    • Collective bargaining status


Multi year projection

Multi-Year Projection

  • Multi year Projection

    • Enrollment and ADA trends

    • Health and Welfare % increases (unless capped)

    • COE billback

    • Deficit spending projected in the two out years?

    • Does the projection satisfy the reserve requirement in the next two out years?


Other checks

Other Checks

  • All other funds

    • Verify that summary/detail totals agree

    • Verify that the ending balance for prior year, line F2, equals the beginning balance for the new year, line F1a

    • Verify that the new year beginning balance, line F1a, equals the ending balance reported to the CDE last year

    • Verify that the components of ending balance equal line F2

    • Criteria and Standards submitted

    • Verify that software matches budget reports


Estimating actuals

Estimating Actuals

  • What is my ending balance going to be?

    • Unrestricted

    • Restricted

  • Estimated ending balances in current year becomes the beginning balances in the budget year.


Revenue limit form rl

Revenue Limit – Form RL

  • The form RL draws data from the following sources:

    • K12 (P2 for unaudited, P1 if the P2 is not yet available)

    • P2 School District Attendance report

    • P2 J29 – Statement of Taxes

    • RL Estimate provided by COE


Form rl cont

Form RL – cont.

  • The Form RL revenue limit ADA should agree with Form A.

  • The Form RL State and local property taxes should agree with form 01.

  • PERS reduction (line 21) should agree with object 8092, and total object 3800-02 in all funds.


Ab 1200 guidelines

AB 1200 Guidelines

  • Fiscal Monitoring Guidelines

  • Sets Standards for Budget Review and Monitoring

  • County Office Powers and Responsibilities

  • Criteria and Standards

  • Greatly Enhances Fiduciary Management Statewide


Ab 1200 guidelines1

AB 1200 Guidelines

  • Self Certification at Each Phase of Budget cycle

    • Budget Adoption

    • Interim Report Periods

  • Certification

    • Positive

    • Qualified

    • Negative


Ab 1200 guidelines three major certifications

AB 1200 GuidelinesThree Major Certifications

  • Positive

    • Will Complete Year with Positive Fund and Cash Balance

    • District is solvent and can meet obligations

  • Qualified

    • May not Complete Year with positive fund and/or cash balance

    • Financial Indicators require scrutiny – modest intervention

  • Negative

    • Will not complete year with positive fund/cash balance

    • Financial Indicators require aggressive action


Ab 1200 guidelines2

AB 1200 Guidelines

  • County Office

    • Reviews each District Certification

    • May change the district certification if the situation warrants

    • Reports findings to the State Controller

    • Various actions available to County Office

      • Assign a fiscal advisor and/or

      • Budget Review Committee


Budgeting for categoricals

Budgeting for Categoricals

  • The Keys – Single Adoption

    • Estimating what the ending balance or carryover will be for each categorical program

    • Knowing what new $ will be in the new year

    • SACS software requires that grant programs are balanced. Revenues must equal expenditures


Helpful hints

Helpful Hints

  • Reduce program encroachments as much as possible

  • Consider charging programs and other funds an indirect cost rate to cover the cost of administration

  • Others?


Questions

Questions?


Questions1

Questions?

  • If you have any questions regarding budget development please feel free to contact us for additional help.

    • Steve Mattern 636-4691

    • Kim Baehr 636-4617

    • Maxx Garris 636-4641

    • Robert Harte 636-4689

    • Maria Rameriz 636-4494


  • Login