FINANCIAL MANAGEMENT School Nutrition Program Administrative Review Training Embassy Suites September 9 - 11, 2009 Income Cash Payments Two sources of cash payments: 1. Students 2. Adults Full Pay Student Payment Local Board Approval
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School Nutrition Program
Administrative Review Training
September 9 - 11, 2009
Two sources of cash payments:
- Current Commodity Value
- Current Section 4 Reimbursement Rate
= Minimum Full Price Student Charge
$1.46 $1.48 $2.68
- 1.16- 1.18- 2.28
$ .30 $ .30 $ .40
(round for ease in making change)
Charge for 2nd meal sold to students
(round for ease in making change)
Highest Paid Student Charge
Section 4 Rate
USDA Commodity Rate (round up)
Charge for meal sold to Adult
Board approved Charge Policy:
(2 CFR 225 Appendix B)
An adult may eat free if:
1. Labor costs
2. Loss of Reimbursement Revenue
3. Loss of Commodity Entitlement
Meal Type Rates ($) Comment
Paid Lunches 0.25 (Free + Reduced) <60%
Paid Lunches 0.27 (Free + Reduced) >=60%
Free Lunches 2.68 (Free + Reduced) <60%
Free Lunches 2.70 (Free + Reduced) >=60%
Reduced Lunches 2.28 (Free + Reduced) <60%
Reduced Lunches 2.30 (Free + Reduced) >=60%
Paid Breakfasts 0.26
Free Breakfasts 1.46
Reduced Breakfasts 1.16
Free Severe Need Breakfasts 1.74
Reduced Severe Need Breakfasts 1.44
DOCUMENT, DOCUMENT, DOCUMENT!
1. Employment of certified (endorsed) SNP Supervisor. (100% can be used for this)
2. Employment of cafeteria managers or assistant managers accredited by SNA or working toward accreditation
3. Professional training programs for non-accredited personnel.
Other – Supplies, Maintenance, Equipment, Allocated Costs
Figure Expenditures as % of Revenue.
Examples: Audit, copier, bookkeeper salary, etc.
The SFA shall limit its net cash resources to an amount that does not exceed 3 months average expenditures for its non-profit school food service.
3. Set School Year
4. Claim/View Reports
5. Excess Balance
7 CFR 210.19
In the event that net cash resources exceed 3 months’ average expenditures…the State agency may require:
(Examples: equipment purchases, additional in-services)
How do you manage your daily cash?
“A pre-determined amount of cash may be set aside as a “change account” for the purpose of making change in the cash collecting operation only. A petty cash account is not allowed in the school food authority fund. The change account shall be reconciled each daily. Only the exact predetermined amount of change shall be withheld from each day’s deposit. (NOTE: The change account cannot be used to balance overages and shortages in collection.)
Internal School Uniform Accounting Section 8,pg2
“School money should NEVER be taken home by individuals for safekeeping or left at a school overnight unless it is stored in a school safe or vault.”
Internal School Uniform Accounting Section 4, pg 17.
Perform a monthly reconciliation of:
School Nutrition Records must be retained for 3 years or until all applicable audit exceptions are resolved.
Additional Financial Records need for the CRE include:
(Office of Management and Budget)
2 CFR Part 225
(Internal School Uniform Accounting)
(Regulatory Search – CFR)
1. Produce a product
2. Provide a service
1. How much food to order?
2. How much food to prepare?
3. What to do with leftovers?
4. Do we need a substitute or not?