12 th annual wasbo accounting seminar
Download
Skip this Video
Download Presentation
12 th Annual WASBO Accounting Seminar

Loading in 2 Seconds...

play fullscreen
1 / 228

12 th Annual WASBO Accounting Seminar - PowerPoint PPT Presentation


  • 157 Views
  • Uploaded on

12 th Annual WASBO Accounting Seminar. Orientation for Staff New to the School Business Office. Presented By: Karen Kucharz Robbe, School Finance Consultant Natalie Rew, CPA, DPI School Finance Auditor March 26, 2008. Finance Team….Who We Are. Finance Team….What We Do.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about '12 th Annual WASBO Accounting Seminar' - ami


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
12 th annual wasbo accounting seminar

12th Annual WASBOAccounting Seminar

Orientation for Staff New to the School Business Office

Presented By:

Karen Kucharz Robbe, School Finance Consultant

Natalie Rew, CPA, DPI School Finance Auditor

March 26, 2008

finance team what we do
Finance Team….What We Do
  • Collect data reports from districts in order to distribute over $6.0 billion in State Aid and Credits in 2007-08, including $5.3 billion in General and Categorical Aids
  • Provide data to individuals, organizations, state and federal agencies
  • Provide consultation services as needed
  • Provide a website and training opportunities to help people help themselves
finance team how we can help you
Finance Team….How We Can Help You
  • Web Page Publications & Tutorials
  • Phone calls, e-mail
  • Provide information via our listserv

(we recommend you subscribe – see information under “Mailings/List Serve” on the green scan bar on our website)

  • New Business Manager/Bookkeeper

Workshop – Summer

how we can help you
How We Can Help You
  • Spring Finance Workshops - April
  • State Superintendent’s Workshop - Sept.
  • “Getting It Right” Workshop - Oct.
  • January WASB/WASDA/WASBO Convention
  • Various WASBO and WASDA Seminars throughout the year
let s look at the handouts
Let’s Look at the Handouts…

Revenue Limit

  • Plum City 7-Year Longitudinal
  • Sample 07-08 Revenue Limit Worksheet
  • Sample 08-09 Estimated Revenue Limit Base

Equalization Aid

  • Weyauwega-Fremont Equalization Aid 7-Year Longitudinal
  • Sample 07-08 Oct 15 Percentage Method Equalization Aid Worksheet
let s look at the handouts1
Let’s Look at the Handouts…

Miscellaneous

  • SFS Homepage/Staff Assignments
  • Roadmap of the School Financial Services Website
  • School Finance Website Topics (green scan bar)
  • WUFAR Flexibility Coding Example
  • WUFAR Website Main Page
  • School Finance “Multi-Tasker”
  • Fund 10 SAMPLE Planning Budget
  • Reporting Grant Receivables
  • Data Extraction and Uploading Instructions
  • Slides from Power Point Presentation
school financial services homepage
SCHOOL FINANCIAL SERVICES HOMEPAGE

All School Financial

Services related resources in alphabetical order.

SAVE THIS PAGE AS A FAVORITE

www.dpi.wi.gov/sfs/index.html

school finance reporting portal
SCHOOL FINANCE REPORTING PORTAL

All School Financial

Services reports are accessed through the School Finance reporting Portal.

financial reports
Financial Reports
  • Aid Certification PI-1505 AC - The purpose of this report is to provide the department with school district annual report data that will be used in the October 15th certification of aid.
  • Annual Report PI-1505 – This application collects complete year end fiscal data for reporting, verification, and auditing purposes.
  • Budget Report PI-1504 – This application collects budgeted fiscal data for estimating general state aids. Per WI Stats. s. 65.90:Every district annually must formulate a budget and hold public hearings thereon.
  • Tax Levies PC-401 - This application collects school district tax levy information creates individual municipal tax certification pages, and reports information to both DPI and the Department of Revenue.
financial reports1
Financial Reports
  • Indirect Cost Rate Adjustment PI-1161 – This report collects data in order to develop the district’s indirect cost rate for recovery of any indirect costs related to federal grants and contracts.
  • Interdistrict Integration Transfer Program Report PI-1541 – This report collects data in order to identify how the district used aid paid to the district under State Statute 121.85(6).
  • Intradistrict Integration Transfer Program Report PI-1542 - This report collects data in order to identify how the district used aid paid to the district under State Statute 121.85(6).
  • Debt Schedules PI-1505 De4bt– This report collects long-term debt amortization (repayment) schedules for all district indebtedness under State Statute 120.115.
  • Referenda PI-1572 – This report allows Districts to notify DPI of upcoming referendum within 10 days of resolution adoption and to report within 10 days of holding a referendum of the results of that referendum.
financial reports2
Financial Reports
  • Sage Class Expansion Claim PI-7206 - This report collects data from districts eligible to receive Sage aid on debt service expenses.
  • Special Education Claim – Annual PI-1505 SE – This report collects year end special education fiscal data for special education categorical aid eligibility.
  • Special Education Claim – Budget PI-1505 SE - This report collects budgeted special education fiscal data for estimating special education categorical aid eligibility.
  • State Tuition Claim Form PI-1524 – This report collects data needed to calculate state tuition payments to districts as per State Statute 121.79.
tax levies pi 401 due november 14
TAX LEVIES (PI-401)Due November 14

“The best thing since sliced bread!”

On or before November 1, every public school board must approve the levy amounts necessary to operate and maintain district schools (s.120.12(3) Wis. Stats.).

School district levies for the general operations (fund 10), non referendum debt service (fund 38), referendum debt service (fund 39), capital expansion (fund 41), and community services (fund 80).

On or before November 6, the school district clerk must certify to each municipal clerk the amount of school district tax to be assessed on the tax rolls of that municipality (s.120.12(3) Wis. Stats.).

This internet report collects levy amounts by fund from the school district, automatically apportions the total levy across the underlying municipalities, and produces individual municipal tax invoices.

budget financial report pi 1504 due december 5
BUDGET FINANCIAL REPORT (PI-1504)Due December 5

This report collects budgeted fiscal data for estimating general state aids. Per WI Stats. s. 65.90:Every district annually must formulate a budget and hold public hearings thereon.

The School Finance Services team has developed budget adoption worksheets to assist the district

Budget Hearing and Adoption

http://www.dpi.wi.gov/sfs/budhear.html

Budget Development and Planning- Revenue Limit Executable Worksheet

http://www.dpi.wi.gov/sfs/buddev.html

aid certification data form pi 1505 ac due august 29
Aid Certification Data Form PI-1505 AC Due August 29

The purpose of this report is to provide the department with school district annual report data that will be used in the October 15th certification of aid.

Two options available for filing PI-1505 AC via internet

  • Manually enter PI-1505 AC data
  • Load strip file to annual, complete the annual before PI-1505AC due date

School Finance reporting Portal SAFR http://dpi.wi.gov/sfs/index.html

Only selected data from full financial report necessary to certify Equalized Aid on October 15

43 lines – Most districts will use maybe 23

full financial annual report pi 1505 due october 1
Full Financial Annual Report PI-1505 Due October 1

This application collects complete year end fiscal data for reporting, verification, and auditing purposes

Two options available for filing PI-1505 via internet

  • Manually enter PI-1505 data
  • Load strip file to annual

School Finance reporting Portal SAFR http://dpi.wi.gov/sfs/index.html

special education budget and annual pi 1505 se
SPECIAL EDUCATION Budget and Annual (PI-1505 SE)

Fund 27

Budget Special Education Claim 2006-2007

Due December 7, 2007

Annual Special Education Claim PI-1505 SE

Due September 5st 2008

non financial reports
Non-Financial Reports
  • Pupil Count – Summer PI-1804/1805 – This application collect pupil count data at the end of the summer preceding the regular school year. The district will receive membership credit in the aid and revenue limit calculations.
  • Pupil Count – September PI-1563 – This application collects pupil count data as of the third Friday in September. The district will receive membership credit in the aid and revenue limit calculations.
  • Pupil Count – January PI-1563 - This application collects pupil count data as of the second Friday in January. The district will receive membership credit in the aid calculation.
non financial reports1
Non-Financial Reports
  • Youth Challenge Academy PI 1563-YCA – This application collects pupil data on students attending the National Guard’s Challenge Academy at Fort McCoy. The district will receive membership credit in the aid and revenue limit calculations.
  • Pupil Transportation PI-1547 – This application collects pupil data for transportation categorical aid eligibility.
  • School Calendar PI-1505 Cal – This application collects data on the district’s days of instruction and is used to determine compliance with Wisconsin Statute §121.006(2)(a).
  • School Census PI-1505 Census - This report collects school census data as of June 30 for the purpose of paying out Common School Library Aid to Wisconsin School Districts.
wufar accounting system
WUFAR ACCOUNTING SYSTEM

Statutory Requirement 115.28(13) “Prescribe a Uniform Financial Fund Accounting System”

Provides consistent reporting for comparability from year to year and between districts (uniformity)

Must be used for all financial reports submitted to DPI

Districts are not required to us WUFAR as an accounting system. (HIGHLY RECOMMENDED)

Account structure can be modified to meet local information requirements

wufar accounting system1
WUFAR ACCOUNTING SYSTEM

WEBSITE LINK

  • www.dpi.wi.gov/sfs/wufar.html

WUFAR MANUAL

  • ACCOUNT TITLES & DESCRIPTIONS

MATRIX

  • ALLOWABLEACCOUNTCLASSIFICATIONS BY FUND
wufar
WUFAR

UPDATED AT LEAST TWICE A YEAR - Last updated September 14, 2007

Next update May 2008

PRINT IT OUT

wufar account format
WUFAR Account Format

Fund Location Object/ Function Project

Source

-------------------------------------------------------

XX XXX XXX XXXXXX XXX

flexibility

limited

flexibility

wufar account format1
WUFAR Account Format

Dimensions

First dimension - defines the activity by fund

Second dimension – identifies the location

Third dimension - Object/Source

Expenditure dimension is object

- Defines service or commodity used in accomplishing a function

- What is it you are purchasing? Salaries 100 , Oil for Heat 332, not to be confused with electricity for heat 334.

Revenue dimension is source.

- Defines revenues by their origin

- You receive income. Who is giving you money? Is it the federal government? Is it fees the students are being charged? Federal Food service aid - 717

wufar account format2
WUFAR Account Format

Dimensions Continued

Fourth dimension is the function

Describes purpose for which a service or object is acquired.

Is it to provide regular curriculum 120 000? Or are the expenditures for general administration 230 000, building repair 254 300.

Final dimension is the project.

Used to identify cost related to specific grants, and projects. For example the Food service aid Breakfast - 546 , Food service Aid Lunch 547, 548 Milk

For those projects not identified by DPI, the district can use project code to group expenditures related to projects of interest to the district, district technology expenses. Run reports across functions

funds
FUNDS

GENERAL FUND 10

FINANCIAL TRANSACTIONS RELATED TO THE DISTRICT’S DAY TO DAY BUSINESS OPERATIONS NOT REQUIRED TO BE ACCOUNTED FOR IN OTHER FUNDS

SPECIAL REVENUE FUNDS

FUND 21

GIFTS ,DONATIONS AND FUNDRAISING FOR DISTRICT OPERATIONS

FUND 23

BALANCE OF TEACH GRANTS BEING USED FOR TECHNOLOGY UPGRADES.

FUND 27

SPECIAL EDUCATION AND RELATED SERVICES FUNDED WHOLLY OR IN PART WITH STATE OR FEDERAL SPECIAL EDUCATION AID

FUND 29

SPECIAL REVENUE K-12 INSTRUCTIONAL PROGRAMS NOT REQUIRED TO BE REPORTED IN OTHER SPECIAL REVENUE FUNDS – Federal Indian Education & Head Start

DEBT SERVICE FUNDS

FUND 38

REPAYMENT OF DEBT INCURRED WITHOUT REFERENDUM (INSIDE THE REVENUE CAP)

FUND 39

REPAYMENT OF DEBT INCURRED THROUGH REFERENDUM (OUTSIDE THE REVENUE CAP)

funds1
FUNDS

CAPITAL PROJECT FUNDS

FUND 41

RECORDING CAPITAL EXPENDITURES FINANCED THROUGH A CAPITAL EXPANSION TAX LEVY

FUND 48

RECORDING CAPITAL EXPENDITURES FINANCED THROUGH A TIF DISTRICT. (CURENTLY NO DISTRICTS IN WISCONSIN USE FUND 48)

FUND 49

MOST COMMONLY USED. RECORDING CAPITAL EXPENDITURES FINANCED THROUGH BONDS, NOTES, STATE TRUST FUND LOANS, OR LAND CONTRACTS.

FOOD SERVICE FUND - FUND 50

ACCOUNT FOR THE DISTRICT’S ACTIVITIES RELATING TO PUPIL AND ELDERLY FOOD SERVICE

AGENCY FUND - FUND 60

ACCOUNT FOR MONEY HELD ON BEHALF OF STUDENT ORGANIZATIONS AND PARENT ORGANIZATIONS

COMMUNITY SERVICE FUND - FUND 80

ACTIVITIES WHERE THE PRIMARY FUNCTION IS TO SERVE THE COMMUNITY– ADULT EDUCATION, DAY CARE, COMMUNITY POOL (Open to everyone in the community

funds2
FUNDS

TRUST FUNDS

ASSETS HELD BY THE DISTRICT IN A TRUSTEE CAPACITY FOR INDIVIDUALS AND PRIVATE ORGANIZATIONS

FUND 72

ACCOUNTS FOR GIFTS AND DONATIONS SPECIFIED FOR THE BENEFIT OF PRIVATE INDIVIDUALS AND ORGANIZATIONS NOT UNDER THE CONTROL OF THE SCHOOL BOARD - SCHOLARSHIPS

FUND 73

ACCOUNTS FOR RESOURCES HELD IN TRUST FOR FORMALLY ESTABLISHED OTHER POST EMPLOYMENT BENEFITS PLANS (OPEB)

PACKAGE AND COOPERATIVE 66.03 PROGRAM FUNDS

MULTIDISTRICT PROGRAMS

-WRITTEN COOPERTIVE 66.03 AGREEMENT

-REVENUE MUST EQUAL EXPENDITURES

FUND 91

EXPENDITURES MADE BY A HOST DISTRICT FOR PROGRAMS MADE AVAILABLE TO OTHER DISTRICTS THROUGH A CESA

FUND 93

TEACH LOAN CONSORTIAM

FUND 99

ALL OTHER TYPES OF COOPERATIVE INSTRUCTIONAL FUNDS- NO SPECIAL EDUCATION

expenditure accounts objects per wufar
Expenditure Accounts“OBJECTS” Per WUFAR

26 OBJECT ACCOUNTS associated with each instructional function

  • 100 - Salaries
  • 200 - Benefits
  • 300 - Purchased services
  • 400 - Non Capital Objects
  • 500 - Capital Objects
  • 600 - Debt Retirement
  • 700 - Insurance and Judgments
  • 800 - Transfers
  • 900 - Other
revenue accounts sources per wufar
Revenue Accounts “SOURCES” Per WUFAR

All revenues, long term debt proceeds and “interfund transfers-in” must be coded as a SOURCE

100 - Interfund Transfers

200 - Local Sources

300/400 - School Districts

500 – CESAS

600 – State

700 – Federal

800 – Debt

900 – Other

See also the Aid register Coding of Federal and State Programs

expenditure accounts functions per wufar
Expenditure Accounts “FUNCTIONS” per WUFAR

100 000 - INSTRUCTION

200 000 - SUPPORT SERVICES (Guidance, Library, Supervision, Business Administration, Maintenance, Transportation, Food service, Central services…

300 000 - COMMUNITY SERVICES

400 000 - NON – PROGRAM (Interfund transfers, adjustment and refunds, Revenue transit to others)

INSTRUCTIONAL FUNCTIONS PERMITTED IN 6 FUNDS

INSTRUCTION IS RESTRICTED TO INTERACTIONS BETWEEN PUPILS AND TEACHERS

balance sheet account coding
Balance Sheet Account Coding

EVERY FUND HAS A BALANCE SHEET

ASSETS

XX B 700 000 001

FUND - ASSET ACCOUNT - YEAR

LIABILITIES

XX B 800 000 001

FUND - LIABILITY ACCOUNT - YEAR

FUND BALANCE “EQUITY”

XX B 900 000 001

FUND - LIABILITY ACCOUNT - YEAR

001 Beginning of the year , 002 End of the year

expenditure account coding
Expenditure Account Coding

EXPENDITURES

  • XX E–XXX –XXX XXX– XXX
  • FUND OBJECT – FUNCTION– PROJECT

EXPENDITURE RECOGNITION

WHEN ITEMS ARE USED/PLACED IN SERVICE

WHEN SERVICES ARE PROVIDED

  • “SUMMER PAYROLLS” & RELATED BENEFITS
  • UNSETTLED CONTRACTS – NO ADDITIONAL COST UNTIL SETTLEMENT – LAST DATE: OCTOBER
revenue account coding
Revenue Account Coding

REVENUE

  • XX R – XXX – XXXXXX– XXX
  • FUND – SOURCE – FUNCTION– PROJECT

Typically no function

Exception: All Transfers-in and out must use a 41XXXX function (See WUFAR)

long term debt
LONG TERM DEBT
  • Used for acquiring capital assets, such as buildings and equipment.
  • Proceeds are receipted and expended in the Capital Projects Fund 49 “SOURCE”
  • Principal and interest payments are reported in fund 38 (non referendum) or fund 39 (referendum)
  • General Fund? – highly unlikely, used only for operational purposes—must notify DPI.
long term debt1
LONG TERM DEBT

Accounting transactions:

Record Referendum Bond Proceeds

  • Dr. Cash $2,000,000
      • (Acct. 49B 711 000)
  • Cr. Long Term Debt Proceeds-Bonds $2,000,000
      • (Acct. 49R 000 000 875)

Record Principal and Interest payment

  • Dr. Principal Expense $165,000
      • (39E 281 000 675)
  • Dr. Interest Expense $ 40,000
      • (39E 281 000 685)
  • Cr. Cash $ 205,000
      • (10B 811 700)
bond anticipation notes
BOND ANTICIPATION NOTES

Notes issued prior to receiving the proceeds of the “permanent” debt issuance to enable the District to “get going” on projects

Report BAN proceeds in the Capital Project Fund 49

49R 000 000 873 – Long Term Debt Proceeds Notes

Report Principal and interest payments in the Debt Service Fund 39

Report proceeds of the permanent debt issuance in the Debt Service Fund 39 as a refinancing transaction.

debt refinancing
DEBT REFINANCING
  • New debt incurred to “Pay Off” existing debt
  • This includes the pay off of a BAN or WRS Liability
  • “Pay off” may include the payment of new debt proceeds to an escrow agent
  • Takes place in Debt Service Funds 38 or 39

TIP: CONTACT A DPI SCHOOL FINANCE AUDITOR FOR THE CORRECT ENTRY (Do not try this at home)

reporting district long term debt
Reporting District Long-Term Debt
  • Wis. Stats. 120.115 Requires districts to notify DPI of any changes in their long-term debt repayment schedules within 10 days of adopting a resolution or revising the schedules
  • Via the School Finance Reporting Portal “Financial Data Home - Debt Schedules”
  • New Loans, Prepayments of principal, refinancing, will require an update by district. Updating the debt schedules can be done at any time during the year
  • Debt amortization schedules must be entered as part of Annual Report submission process if not updated previously
reporting district long term debt1
Reporting District Long-Term Debt

The PI-1505 Annual Report has built in edits to check the following:

  • 08B debt balances at beginning and end of year must agree to the schedules

For each type of debt :

Beginning Balance

        • Plus: New Debt Incurred (Issued)
        • Minus: Principal Payments

Equals: Ending Balance

  • Function 281000, 283000, 285000, 289000 principal and interest amounts in funds 38 and 39 must agree to debt schedules
  • New debt proceeds will be verified against referenda database to determine if properly reported as Fund 39 debt
short term borrowing
Short Term Borrowing

PURPOSE:

  • Cash flow
  • It can actually be for any legal purpose

AUTHORITY:

  • Wisc. Stat. 67.12(8)
  • By two-thirds Board resolution
  • When - anytime after levy adoption

AMOUNT:

  • Do a cash flow analysis
  • It works like a revenue (tax) anticipation note
  • Maximum - 1/2 of a district’s revenue limit
  • Do not report as long term debt! Do not report on the debt schedules
short term borrowing1
Short Term Borrowing

BALANCE SHEET TRANSACTIONS

  • Receive Proceeds
    • Increase (Dr.) Cash 10B 711 000,
    • Increase (Cr.) Temporary Notes Payable 10B 811 100
  • Repay Principal
    • Reduce (Dr.) Temporary Notes Payable Sheet 10B 811 100
    • Reduce (Cr.) Cash 10B 711 000,
  • Pay Interest Expense
    • Perport (Dr.) Interest Expense 10E 283 000 682
    • Reduce (Cr.) Cash 10B 711 000

Record (accrue) interest as of June 30th, if note is still outstanding

capital lease
Capital Lease

Finance equipment acquisition through a vendor or a bank (vehicles, electrical upgrades copiers, etc)

Record Capital Lease Financing (buy a bus)

(Dr.) Vehicle addition expenditure 10E 256300 550

(Cr.) Capital Lease Proceeds 10R 000 000 878

Principal and interest payment

(Dr.) Capital Lease Principal 10E 281 000 678

(Dr.) Capital Lease Interest 10E 281 000 688

(Cr.) Cash 10B 711000

reporting upcoming referenda and results
Reporting Upcoming Referenda and Results

Districts notify DPI of upcoming referendum within 10 days of resolution adoption

Report via DPI school finance reporting portal “Financial Data Home - Referenda

https://www2.dpi.state.wi.us/safr/

Information required is same as what was requested on old paper Form PI 1572

--District contact

--Purpose of borrowing or use of revenue limit dollars

--Actual wording of resolution question

--Actual results of election

reporting upcoming referenda and results1
Reporting Upcoming Referenda and Results

Debt referendum

Dollar amount of proposed borrowing

Revenue limit referendum

Dollar amount of increases in revenue limit authority and years involved

--Recurring exemption: no end year

--Non recurring exemption: must list start and stop years and amounts for all years

Referenda filing requirements

  • Copy of adopted resolution authorizing election
  • Copy of board of canvassers statement which reports official vote tally
  • Due at DPI within 10 days of election
  • Can be faxed to Gene Fornecker, 608/266-2840 or mailed
reporting upcoming referenda and results3
Reporting Upcoming Referenda and Results

Click to add details for upcoming referendum

referenda statistics
Referenda Statistics
  • Users can access from our database listings of referenda that have passed or failed for both debt and revenue limit questions
  • Data can be downloaded into EXCEL for statistical analysis purposes
  • https://www2.dpi.state.wi.us/safr/all_referenda.asp
special education account coding
SPECIAL EDUCATION ACCOUNT CODING

http://www.dpi.wi.gov/sfs/speced.html

wufar account format review
WUFAR Account Format Review

Fund Location Object/ FunctionProject

Source

---------------------------------------------------------------

27 XXX XXX XXXXXX XXX

All special education expenses, regardless of funding source must be accounted for in fund 27.

The function number and the project number are the most critical elements of the total account code.

special education expense coding
Special Education Expense Coding
  • Function Number
    • Identifies the special education program
      • 152000 – Early Childhood
      • 158000 – Cross Categorical
      • 156600 – Speech & Language
      • 159200 – Substitutes
special education expense coding1
Special Education Expense Coding

The Business Office and the Special Education Department will need to work closely together to ensure that staff members are being charged to the appropriate program or function.

Appropriate staff licensure is important when assigning staff to various functions.

Psychologists/Social Workers/Nurses/Counselors

  • Must be employed not contracted
  • Only portion of the time responsible for Special Education
  • Methods used for allocation
  • Types of activities eligible for special education

http://www.dpi.wi.gov/sfs/ltrjan12_06.html

special education expense coding2
Special Education Expense Coding

Project Number

  • The key to using the correct project code is ……

……understanding that the project code can identify very important information including:

- whether the expense is categorical aid-eligible

- the source of the funding (local, state, or federal dollars)

- if it was a “package” program (other dist, CESA, CCDEB)

- if it’s a grant, who is the grant-holder

….all critical information we need to compute categorical aid.

project 011 aidable expense
Project 011-Aidable Expense

Use this project on all original object 100 – 900 expenditures when:

  • the LEA is using only local dollars to fund the expenditure (no grant money reimbursement)
  • the expenditure is directly state special education categorically aidable

The school district incurs salary & benefit expenses for an appropriately licensed Early Childhood teacher, funded w/ local dollars.

FundObjectFunctionProject

27

100/200

152000

011

project 019 non aidable expense
Project 019-Non-Aidable Expense

Use this project on all original object 100-900 expenditures when:

  • the LEA is using only local dollars to fund the expenditure (no grant money reimbursement)
  • the expenditure is NOT directly state special education categorically aidable

The school district purchases supplies for an early childhood program w/local dollars.

FundObjectFunctionProject

27

410

152000

019

project 340 grant expense
Project 340 Grant Expense

Use this appropriate IDEA grant project code of “341-349” on all original object 100-900 expenditures when:

  • This expenditure is charged directly to an IDEA (flow-through, entitlement, etc..) grant.
  • The LEA name on the grant is the same as this LEA.

The LEA purchases supplies for an early childhood program that is reimbursed by grant dollars direct to this LEA.

FundObjectFunctionProject

27

410

152000

340

project 599 grant expense
Project 599 Grant Expense

Use this project code on all original object 100-900 expenditures when:

  • This expenditure is charged directly to a grant such as AODA, Drug Free, etc….
  • The LEA name on the grant is the same as this LEA.

The LEA purchases supplies for an early childhood program that is reimbursed by grant dollars direct to this LEA.

FundObjectFunctionProject

27

410

152000

599

project 315 317grant expense
Project 315/317Grant Expense

Use these projects, 315 (State) or 317 (Federal) on all original object 100-900 expenditures when:

  • The expenditure is then charged to a state/federal grant of another LEA
  • The LEA name on the state/federal grant is another school district (NOT this LEA)

The LEA purchases supplies for an early childhood program that is reimbursed by another school district using federal grant dollars

FundObjectFunctionProject

27

410

152000

317

project 515 517grant expense
Project 515/517Grant Expense

Use these projects, 515 (State) or 517 (Federal) on all original object 100-900 expenditures when:

  • The expenditure is then charged to a state/federal grant.
  • The LEA name on the state/federal grant is a “CESA” or a “CCDEB”, NOT this LEA

The LEA purchases supplies for an early childhood program that is reimbursed by a CESA or CCDEB using federal grant dollars

FundObjectFunctionProject

27

410

152000

517

project 091 cesa package
Project 091 CESA Package

Use this project on all original object 100-900 expenditures when:

  • The LEA is using only local dollars to fund the expenditure (no grant money reimbursement)
  • The expenditure is directly reimbursed by a payment from CESA (using CESA local dollars – no grant money)

The host district of a CESA package program purchases supplies for an early childhood program that is reimbursed w/local dollars by CESA.

FundObjectFunctionProject

27

410

152000

091

project 092 ccdeb package program
152000

092

Project 092 CCDEB Package Program

Use this project on all original object 100-900 expenditures when:

  • The LEA is using only local dollars to fund the expenditure (no grant money reimbursement)
  • The expenditure is directly reimbursed by a payment from a CCDEB (using CCDEB local dollars – no grant money)

The host district of a CCDEB package program purchases supplies for an early childhood program that is reimbursed w/local dollars by a CCDEB.

FundObjectFunctionProject

27

410

special education expense coding3
Special Education Expense Coding

* “package programs” **only certain expenses. See Special Ed link on website.

multi tasker
“Multi-Tasker”
  • Many things happen in a business office, so the key is ORGANIZATION.
  • Know when major activities take place and when major reports are due.
counting students
Counting Students
  • 3rd Friday in September Pupil Count
  • 2nd Friday in January Pupil Count
  • Summer School Report
  • Youth Challenge Academy Pupil Count
  • June Census
pi 1563 pupil count report
PI-1563 Pupil Count Report
  • Two Count Dates:
    • September PI 1563 Pupil Count Report
      • 3rd Friday in September
    • January PI 1563 Pupil Count Report
      • 2nd Friday in January

(Districts may request a change to these dates

as a result of school not being in session.

“New” count date is usually the Thursday before or

Monday after.)

general counting guidelines
General Counting Guidelines
  • Count the student if:
    • The student is a district resident.
    • The District is financially responsible for the student’s educational program.
    • The student is present for instruction on the count date or meets the “before and after” rule.

So how do we get there………

pi 1563 pupil count process
Non-Resident Reductions

Resident Reductions

Resident Additions

Adjusted Head Count*

-

Head Count

-

+

=

Subtract all resident students being served by the district that don’t meet the count guidelines. (less than full time, outside age eligibility)

Identify all students, regardless of residency, being directly served by the district.

Subtract all non-resident students being served by the district.

Add all resident students who are receiving educational services from other districts or programs and for which your district is paying the cost of full-time tuition.

Result is the students that are residents for which you are financially responsible for.

PI-1563 Pupil Count Process

* Needs to be converted to fulltime equivalency.

resources
Resources
  • http://www.dpi.wi.gov/sfs/membrpt2.html
    • General Count Instructions for the PI 1563 Workbook
    • PI 1563 Pupil Count Workbook Form for Draft Use
adjusted head count
Adjusted Head Count
  • The adjusted head count must be converted to full-time equivalency (fte) for both revenue limits and equalization aid.
  • Incorrect data in the internet-based report will cause the fte for both revenue limits and equalization aid to be inaccurate. Data must be revised on-line.
on line fte reports
On-Line FTE Reports

Find your district in the Finance Team Reporting Portal. http://dpi.wi.gov/sfs/index.html

on line fte reports1
On-Line FTE Reports

FTE Reports for both Equalization Aid and Revenue Limits are on website.

summer school fte
Summer School FTE
  • Summer School starts the school year;
  • An Excel worksheet is available to calculate your Summer School FTE.

http://dpi.wi.gov/sfs/summ_sch.html

  • Keep the Excel spreadsheet, as your auditor may need to review the information used to calculate your summer school fte. (Auditor will check fees. See link on green scan bar for discussion.)
summer school
Summer School
  • The data on the front page of the Excel worksheet is reported to DPI on-line at the conclusion of summer school and is due in September.
  • The summer school report is one of the few reports that ask for an fte count as opposed to a head count.
youth challenge academy
Youth Challenge Academy
  • Wisconsin National Guard Challenge Academy is a residential program committed to improving the quality of life for 16 to 18 year old at-risk teens.
  • School districts with cadets must contribute a portion of the costs of students enrolled in the Challenge Academy from their district.
  • 06-07 district cost was $7,836. 07-08 will be available shortly. The Academy provides the cost number.
youth challenge academy1
Youth Challenge Academy
  • State statute allows the school district to count the student, for revenue limit and equalization aid purposes. The Youth Challenge Academy on-line report will assure that proper membership credit is given to each district.
  • Districts report students in both September and January
  • Resources:

http://www.dpi.wi.gov/sfs/doc/challfunding.doc

fte for revenue limit purposes
FTE for Revenue Limit Purposes
  • FTE generated from the PI-1563 pupil count report from September Count only
  • FTE generated from the September Youth Challenge Academy Report
  • 40% of FTE identified in the Summer School FTE report
fte for equalization aid purposes
FTE for Equalization Aid Purposes
  • FTE generated from the PI-1563 pupil count report from September & January pupil count reports.
  • FTE generated from the September & January Youth Challenge Academy Reports
  • 100% of the FTE identified in the Summer School FTE report
  • Adjustment for Part-time Private or Home-based Students
  • Adjustment for certain foster/group home students.
june census
June Census
  • All districts must report the number of residents that are at least 4 years old but not yet 21.
  • HEAD COUNT – not an FTE
    • Ages 4-13 if in a K-8 district
    • Ages 14-20 if in a high school district
june census1
June Census
  • Per 120.18 Wisconsin Statutes - 2 methods available to calculate the census head count
    • Conduct a Physical Census on June 30th - 120.18(1)(a)1
    • Generate a number based on a mathematical calculation - 120.18(1)(a)2.
june census why
June Census – Why?
  • The headcount entered into the census report is used to calculate the amount of common school fund (library) aid the district is to receive.
  • The money the district receives should be spent within the same fiscal year. An aid estimate is given in January and paid in May.
slide112
Budgeting - The “Big Picture”

Certify Levies via

PI-401 & PC-401

(in portal)

Revenue Limit Calculation

3rd Friday Count,

Oct 1 Tax Values,

October 15 Aid

Annual Meeting?

Budget Planning Papers

(basis for full budget)

Send tax bills.

PI-1508

Budget Adjustments to BOE

Budget Report PI-1504

slide113
Revenue Limit: Definition

The revenue limit is a limit (or control) on the revenue a school district is entitled to receive from:

1.) General State Aid

(Equalization, Integration Aids,

Special Adjustment Aid)

2.) Local Levies (10, 38, 41)

3.) State Computer Aid

It is not an expenditure control or spending limit.

revenue limit
Revenue Limit
  • The Revenue Limit controls the following revenues:
    • General Aid (Equalization Aid, for most districts)
    • Computer Aid
    • General Fund (Fund 10), Non-Referendum Debt
    • (Fund 38) & Capital Projects (Fund 41) Levies
  • The Revenue Limit does not control the following revenues:
    • School Fees
    • Categorical Aids (Library Aid, Transportation Aid, etc.)
    • State and Federal Grants
    • Gate Receipts
    • Donations
    • Referendum Debt (Fund 39)

& Community Service Fund (Fund 80) Levies

revenue limit1
Revenue Limit
  • Districts typically develop an estimate of their new-year revenue limit by the end of January in any given budget year.
  • This preliminary revenue picture, together with salary and other local expenditure and revenue budget estimates, serves as a guide for the district as it moves through budget development.
  • The process culminates in the fall of each year after districts receive the 3rd Friday in September FTE Count and the DPI October 15th General Aid Certification, allowing them to set the levy, send tax bills, and report levy amounts to DPI.
a 4 step process
A 4-Step Process

Revenue Limit

  • Step 1: Build the Base Revenue Per Member.

(Worksheet lines 1-3)

  • Step 2: Calculate a New Revenue Per Member. (Worksheet lines 4-7)
  • Step 3: Determine Allowable Exemptions. (Worksheet lines 8-11)
revenue limit2
Revenue Limit
  • Step 4: Determine Levy and Computer Aid Amounts.

Controlled Amounts

Levies for Funds 10, 38, 41DOR Computer Aid(Worksheet lines 12-14)

Non-Controlled Amounts

Levies for Funds 39 & 80

and Prior-Year Chargeback.

(Worksheet lines 15-20)

slide118
Step 1: Build the Base Revenue

Line 1

Prior-Year Data (2006-07)

2007-08 Base

+ October 15 Aid (Line 12)

+ Computer Aid Received

+ 10R 211 Levy (Line 18)

+ 38R 211 Levy (Line 14B)

+ 41R 211 Levy (Line 14C)

- Revenue Limit Penalty

- Levy for Non-Recurring

Referendum

- Levy for Declining

Enrollment

Prior-Year Data (2006-07) is Used to Build the New-Year (2007-08) Base

slide120
Step 1: Build the Base Revenue

Line 2

200420052006

Summer FTE 16 18 12

40% 6 7 5

Sept FTE 824768758

Total FTE 830 775 763

(830 + 775 + 763) / 3 = 789

slide122
Step 1: Build the Base Revenue

Line 3

2006-07 Base

Line 1

=

Base Revenue

Per Member

÷

Base Membership

3-Year Average

$ 8,400.00

3 Previous Years

(Fall 04, 05, 06)

Prior-Year Data (2006-07)

Line 3

+ October 15 Aid

Summer 04 (40%) + Fall 04

+ Computer Aid

Summer 05 (40%) + Fall 05

+ 10R 211 Levy

Summer 06 (40%) + Fall 06

+ 38R 211 Levy

+ 41R 211 Levy

- Revenue Limit Penalty

- Levy for Non-Recurring

Referendum

(830+775+763) / 3 =

789

- Levy for Declining

Enrollment Exemption

$6,627,600

slide123
Step 1: Summary

Lines 1-3

Base Revenue Per Member

slide124
Step 2: Calculate a New

Revenue per Member

Line 4A

Each year, under current law, districts are allowed to add in a per-pupil increase (inflationary) at this point in the computation.

Computed by using the March to March CPI-U, the dollar increase for the 2007-08 year is $264.12. This number is used by all districts.

Increase to be used in the 08-09 Revenue Limit computation will not be known until mid-April, 2008 – which is after March 31, 2008 and after the Department of Revenue certified the increase to DPI.

SFS will post the number on the internet when it’s available.

slide125
Step 2: Calculate a New

Revenue per Member

Lines 4B & C

Also under current law, districts having low revenue (less than a State-determined per-pupil amount) AFTER Lines 3 and 4A are summed are allowed to increase their per-pupil revenue limit amount to reach this specified amount. For the 2007-08 school year, the Legislature had approved $8,700 for this amount.

Line 4B, Low Revenue Increase, will automatically pre-fill if your district has low revenue. You don’t need to enter anything in the spreadsheet to get this extra amount, if you qualify.

If your district participates in a CCDEB, please call the Finance Team for further instructions for Line 4C.

step 2 calculate a new revenue per member line 5
Step 2: Calculate a New Revenue per MemberLine 5

Line 5 is the sum of Lines 3 and 4 (auto-calculates).

step 2 calculate a new revenue per member line 6
Step 2: Calculate a New Revenue per MemberLine 6

200520062007

Summer FTE 18 12 9

40% 7 5 4

Sept FTE 768758736

Total FTE 775 763 740

(775 + 763 + 740) / 3 = 759

step 2 calculate a new revenue per member line 7
Step 2: Calculate a New Revenue per MemberLine 7

Line 7 is Line 5 multiplied by Line 6.

But, wait, $8,700 x 759 = $6,603,300 - NOT $6,627,600!

A new provision in the 07-09 Biennial budget allows districts to use Line 1 if Line 5 multiplied by Line 6 is less than the Line 1 amount.

step 2 summary lines 4 7
Step 2: SummaryLines 4-7

Calculate a New Revenue per Member

slide131
Step 3: Determine Allowable ExemptionsLines 8-11

Exemptions to the Revenue Limit allow districts to levy additional amounts up and above the amount generated by the computation up to this point.

Line 8 tracks Recurring Exemptions.

Line 10 tracks Non-Recurring Exemptions.

It’s important to understand the distinction between the two.

slide132
Step 3: Determine Allowable Exemptions Lines 8-11

Recurring Exemptions (Lines 8A-E) are base-building – that is, if the district taxes for any of this additional authority, the levy amount is automatically included in the succeeding year’s base.

Any unused Recurring authority is eligible

for 100% carryover into the next year.

transfer of service
Transfer of Service
  • What Transfer of Service is:
    • a recurring exemption to the revenue limit
    • based on WI Stat. 121.91(4)(a)
    • an increase on the local tax levy
transfer of service1
Transfer of Service
  • What Transfer of Service does:
    • helps the district cover unexpected costs for incoming Spec Ed/ESL (English as a Second Language) transfers
    • helps the district cover the cost of new operation expenses that were once provided by another municipality
transfer of service2
Transfer of Service
  • What Transfer of Service is not:
    • a payment from the State
    • a payment from another school district
transfer of service3
Transfer of Service

Forms and instructions can be found at:

http://dpi.wi.gov/sfs/transerv.html

(Look for an online application later this spring. Districts using the online application

will have a 1 month extension of the due date from July to August.)

step 3 determine allowable exemptions lines 8 11
Step 3: Determine Allowable ExemptionsLines 8-11

Non-Recurring Exemptions (Lines 10A-C) are not base-building – that is, if a district taxes for any of these exemptions, the amount is not included in the succeeding year’s base.

In addition, any unused Non-Recurring authority is not eligible for carryover in the next year – districts have one, and only one opportunity to use Non-Recurring exemptions.

step 3 determine allowable exemptions lines 8 111
Step 3: Determine Allowable ExemptionsLines 8-11

Line 11 is the final “Revenue Limit With All

Exemptions” for your district.

This is the total revenue your district can receive from the combination of property tax from Funds 10, 38, and 41, State General Aid (Equalization, Special Adjustment, and Integration Aids) and State Computer Aid.

summary how we arrived at line 11
SummaryHow We Arrived at Line 11

Line 10

Adding non-recurring exemptions

2007-08

Line 11

Base from

2006-07

Data

Line 8

Adding recurring exemptions

Line 4-7

Adding the state per-pupil increase with new 3-year avg

comparing line 11 from year to year
Comparing Line 11from Year to Year

Line 11 represents the total amount of resource your district will get from Property Tax, State Aid, and Computer Aid. (about 70-90% of total revenues for most districts).

For budgeting purposes, it’s very important to compare this Line 11 with the previous year’s Line 11. Major decreases in Line 11 from year to year can have serious implications for your budget.

comparing line 11 from year to year1
Comparing Line 11from Year to Year

2006-07

Line 11 Amounts

2007-08

Decrease probably means budget cuts.

The earlier in your budget process you discover this, the better………….

comparing line 11 from year to year2
Comparing Line 11from Year to Year

See 7-Year Revenue Limit History under

Budget Development and Planning on website.

slide144
Aid CertificationLine 12
  • Generated from the PI-1505-AC and PI-1506-AC.
  • Must use the October 15 cert.

(It IS the amount of general aid the district will book

during that fiscal year.)

step 4 determine levy and computer aid amounts
Step 4:Determine Levy and Computer Aid Amounts
  • Controlled Amounts - Lines 12-14

General State Aid

Fund 10, General Fund Levy

Fund 38, Non-Referendum Debt Levy

Fund 41, Capital Projects Levy

Computer Aid

  • Non-Controlled Amounts - Lines 15-20

Fund 39, Referendum Debt Levy

Fund 80, Community Service Fund

Fund 10, Src 212, Property Tax Chargebacks

controlled amounts line 14
Controlled AmountsLine 14

Line 11 – Total Resources from Property Tax and Levy

October 15 Aid Certification reduces what you can levy.

Line 12

Fund 10 Levy

Fund 38 Levy

Line 13 Allowable Limited Revenue

Fund 41 Levy

Computer Aid

Computer Aid is based on the total levy, but, at this point in the computation, we don’t have total levy yet. Calls for a strategy on how to get the limited portion right…….

slide147
StrategyLine 14
  • First, type in the amounts you intend to levy for Funds 38 and 41 (lines 14B & 14C, respectively).
  • Then, enter into line 14A the difference between line 13 and the sum of lines 14B & C.
  • By doing this, you have levied to your maximum. Note that districts may choose to levy less than the maximum.
  • Remember: Line 14 cannot exceed Line 13 ! If it does, you must reduce something in Line 14 (or, remain in a penalty situation).
non controlled amounts line 15
Non-Controlled AmountsLine 15

Enter anticipated levy amounts

into Lines 15 A,B,& C.

computer aid line 17
Computer AidLine 17

Once you have entered all of the levy amounts on Lines 14 & 15, the spreadsheet automatically calculates Computer Aid on Line 17.

You must enter property values in Line 17 for the calculation to work properly.

Computer Aid is based on property values and total levy. The Department of Revenue certified the 2007 Property Values on October 1, 2007, so an estimate is used until the certification arrives.

computer aid line 171
Computer AidLine 17
  • It’s actually a Property Tax Exemption for Business Computers.
  • Instead of receiving property taxes for this property, districts receive an aid payment from the Department of Revenue (DOR) to make up the loss in value.
  • Computer value is certified by the DOR along with the Tax Apportionment values in October. Districts use this value in their Revenue Limit computation to determine the Computer Aid amount.
  • “Computer Aid” must be considered in the context of revenue limit calculation because it replaces a portion of a district’s allowable tax levy.
fund 10 levy line 18
Fund 10 LevyLine 18

Once all your numbers are entered into the spreadsheet, Line 18 (NOT Line 14A) will be the amount of your Fund 10 Levy.

total all fund levy line 19
Total All Fund Levy Line 19
  • Line 19 is the sum of all levies from all funds

(line 18 + line 15). Computer aid is not included here.

  • Line 19 is the levy to be apportioned to municipalities and must equal the total amounts on the PI-401.
total debt service line 20
Total Debt Service Line 20

Line 20 is a total sum of your debt-related levies.

It has been included here as a convenience.

looking ahead to the 08 09 revenue limit computation
Looking Ahead to the 08-09 Revenue Limit Computation

The most up-to-date Revenue Limit worksheets can be found on the School Financial Services website:

http://www.dpi.wi.gov/sfs/index.html

Under:

Late Breaking

Budget Development and Planning

Worksheets DPI-Printed

budget strategy for long term debt
Budget Strategy for Long Term Debt

The Fall, 2008 levy should be enough to cover your debt payments due in the Spring of 2009 and Fall of 2009. (calendar year)

The 2008-09 Budget Report should reflect the amount of your debt payments you will pay in the Fall of 2008 and Spring of 2009. (fiscal year)

Make sure you levy enough money to cover your long-term debt payments!

using this data for budgeting
Using This Data for Budgeting

Rev LimFund 10

Line 18 Src 211

Line 15C Src 212

Line 12 Src 621

Line 17 Src 691

(yellowed lines represent the amounts that come from the controlled portion of the Revenue Limit.)

equalization aid
Equalization Aid
  • Why do you need to know how to calculate aid when DPI calculates it for you?
    • Because you will be asked by your board members, constituents and the media.
    • So you can figure out why your aid has changed AND explain why.
    • Because you may want to do estimates and “what ifs”…
slide161
College Scholarship Example

You are eligible for up to a $10,000 scholarship!!!

√ Based on “need.” (what you can contribute)

√ Delay in getting $$. (after 1st semester grades)

√ College sets the award limit amount.

Remember these concepts….they will apply to Equalization Aid !!!

slide162
Equalization Aid - How It Works

(“It’s all percents……..”)

20%

50%

80%

50%

how did the college share in the tuition
How Did the College “Share” in the Tuition?

What you could pay.

$10,000 amount.

Compare, then

Compute actual scholarship amount.

equalization aid formula
Equalization Aid Formula
  • State “Shares” in District Cost
  • Aid is Based on a District’s Ability to Pay

(Measured by Property Wealth per Member)

Basic premise (similar to scholarship):

The more property wealth per member a district has, the less state aid it will receive.

how does the state share in district costs
How Does the State “Share”in District Costs?

District Value Per Member

State Guaranteed Value Per Member

Compare, then

Compute Equalized Aid

3 district factors
3 District Factors

1. Costs (“Shared Cost”)

2. Wealth/Property Taxbase

3. Pupils (“Membership”)

* * *

All Prior-Year Data

(2006-07 data is used for 2007-08 aid.)

1 district factor costs prior year
1. District Factor – Costs(prior year)

Total General Fund (Fund 10) Expendituresplus (+)Total Debt Service Funds (Funds 38 & 39) Expendituresminus (-)all local misc. revenue, grant revenue,and categorical aid. Known as “Shared Cost”Less than other cost measures.

2 district factor wealth taxbase prior year
2. District Factor - Wealth/Taxbase(prior year)

Property Taxbase is Used to

Determine Wealth and Ability to

Support District Expenditures

Uses Equalized Valuation

or Fair Market Value

(NOT Assessed Value)

3 district factor membership prior year
3. District Factor – Membership(prior year)

F.T.E. = full-time equivalent

2 halftime (.50) kdg students = 1 F.T.E.

Average of

3rd Friday F.T.E. - September

2nd Friday F.T.E. - January

plus (+) F.T.E. Summer School

Summer School = 48,600 minutes = 1 F.T.E.

(2007-08 aid uses September 2006, January 2007,

and Summer 2006 numbers)

value per member
Value Per Member

Crucial Statistic:

Value per Member =

Total Equalized Value ÷ Membership

$200,000,000 ÷ 800 = 250,000

$200,000,000 ÷ 1,000 = 200,000

slide171
Equalization Aid – 3 Levels

Positive Tertiary Aid

District Value per Member

50%

50%

Negative Tertiary Aid

25%

75%

Negative Secondary Aid

Positive Secondary Aid

10%

90%

Positive Primary Aid

No Aid

equalization aid1
Equalization Aid

So, how does this work for my district?

Percentage Method on the Website

http://www.dpi.wi.gov/sfs/index.html

Under:

Budget Development and Planning

equalization aid2
Equalization Aid

How can I determine where I am in the aid formula?

Aid Formula Position on the Website

http://www.dpi.wi.gov/sfs/index.html

Under:

Budget Development and Planning

equalization aid explaining changes across time
Equalization Aid – Explaining Changes Across Time

How can I explain changes in my district’s aid?

7-Year History on the Website

http://www.dpi.wi.gov/sfs/index.html

Under:

Budget Development and Planning

equalization aid line 12 of the revenue limit worksheet
Equalization Aid, Line 12 of the Revenue Limit Worksheet
  • On October 15, 2008 DPI will certify an amount to districts. It is the amount of aid the districts will receive in 2008-2009
  • We will provide the required estimate shortly before July 1
  • Place that amount on line 12 of the 2008-09 revenue limit worksheet.
final budget development
Final Budget Development
  • Finalize current year expenditures and revenues
    • Expenditures
      • Salary/benefits – per contract/negotiations
      • Other program/district expenditures
    • Revenues
      • Revenue Limit revenues
        • Equalization Aid
        • Tax Levies
        • Computer Aid
      • Categorical Aids (review prior year reports)
      • Grants
      • Local Revenues
final budget development1
Final Budget Development
  • The district’s budget is a roadmap based on the district’s best estimations.
  • Remember: Two major revenues remain an estimate until mid-October – when the district can calculate the revenue limit for taxing purposes:
        • Equalization Aid
        • Tax Levy
budget hearing adoption
Budget Hearing & Adoption
  • The Budget Hearing and Adoption process is outlined in state statute 65.90.
  • All districts are required to have a budget hearing.
  • Common and Unified High School Districts are required to hold the budget hearing at the same time and place as the annual meeting.
budget hearing and adoption
Budget Hearing and Adoption
  • School boards are required to approve a “proposed” budget for presentation at the budget hearing.
  • An excel file is available to assist with the recommended format for budget presentation and publication.

http://www.dpi.wi.gov/sfs/budhear.html

budget publication
Budget Publication
  • School Districts must publish notice of the budget hearing as well as the proposed budget summary.
    • Common S.D. – at least 10 days prior
    • Unified and UHS S.D. – at least 15 days prior
annual meeting
Annual Meeting
  • State statute 120.08 (1) identifies the date and time of the annual meeting.
    • Common S.D. – 4th Monday in July – 8:00pm
    • UHS S.D. – 3rd Monday in July – 8:00pm

Unless……

annual meeting1
Annual Meeting
  • The electors at one annual meeting vote to hold the following annual meeting at a different date or hour or authorize the school board to establish a different date or hour.
  • No annual meeting may be held before May 15th or after October 31st.
annual meeting notice
Annual Meeting Notice
  • School district must publish a class 2 notice for the annual meeting.
    • 1st notice – at least 2 weeks prior to meeting
    • 2nd notice – not more than 8 days or less than 1 day prior to the meeting
original budget adoption
Original Budget Adoption
  • The school board shall adopt an “original” budget at a school board meeting after the public hearing and no later than the meeting in which the tax levy is set.
    • November 1st – deadline for adopting the “original” budget and setting the levy amount
    • November 6th – deadline for certifying the levy amount to the municipalities
budget amendments
Budget Amendments
  • As the current budget year progresses, you may find expenditure needs that differ from the budget that was originally approved.
    • Changes in amount of appropriation and purposes (functions) must be approved by a two-thirds vote of the school board.
    • Publish a class 1 notice of the budget change within 10 days of Board approval.
slide194
SAFR

Data Upload Process

upload resources
Upload Resources
  • Wisconsin Uniform Accounting Requirements (WUFAR)
  • Allowable Account Classifications Matrix
  • Program/Project Dimension Summary
  • Accounting Issues and Coding Examples

Can be found at: http://www.dpi.wi.gov/sfs/wufar.html

data extraction 3 steps
Data Extraction3 Steps
  • Step 1: “Clean up” and balance the district financial records.
  • Step 2: Run the system software program that creates a DPI strip file (Skyward, Impact, etc.)
  • Step 3: Correct the “rejected” accounts.
final check
Final Check

Before proceeding, compare grand totals for revenues and expenditures for ALL funds in SAFR to your system records.

Hand-enter all beginning and ending balances from your system records.

days of instruction
Days of Instruction
  • 115.01(10) School Day. (a) School days are days on which school is actually taught and the following days on which school is not taught:
    • Days on which school is closed by order of the school district administrator because of inclement weather and days on which parent-teacher conferences are held, not to exceed 5 days…

2. Days on which school is closed by order of a local health officer, as defined in s. 250.01(5).

days of instruction example
Days of Instruction Example
  • The District schedules 178 days of actual instruction and 2 days of parent teachers conference days in lieu of a day of actual instruction.
    • Does this meet the 180 day requirement? Yes
    • What happens if the district has 4 inclement weather days?

The District must make up the day.

days of instruction example1
Days of Instruction Example
  • The District schedules 179 days of actual instruction and 2 nights of parent teacher conferences after the school day ends.
    • Does this meet the 180 day requirement? No. A day may only be counted once. So if the students come in for instruction, the day is considered a face to face day. The evening parent conferences are not counted towards meeting the 180 day requirement. They may however, be counted as a day for your local teacher contract purposes.
hours of instruction
Hours of Instruction
  • 121.02(1)(f) Each school board shall annually scheduled at least:
    • 437 hours of direct pupil instruction in kindergarten (A school board operating a 4-year old kindergarten program may use up to 87.5 hours of the scheduled hours for outreach activities.)
    • 1,050 hours of direct pupil instruction in grades 1-6
    • 1,137 hours of direct pupil instruction in grades 7-12.
  • A worksheet to calculate your district’s annual hours of instruction is available at:

http://dpi.wi.gov/cal/days_hours_worksheet.html

waiver for days and hours
Waiver for Days and Hours
  • The school district may request a waiver to the days requirement. The request should be made to:
    • Michael George, Content and Learning

(608) 266-2364

[email protected]

  • There is no waiver process for the hours of instruction.
grant receivables
Grant Receivables

Grant receivables are used in situations where expenditures are incurred before the end of the fiscal year, but the district will receive the cash reimbursement after the start of the new fiscal year.

grant receivables1
06-07 Fiscal

07-08 Fiscal

08-09 Fiscal

✔Submit 06-07 grant claims.

✔Book revenue in 06-07 Source and end-of-year 06-07 receivable in 715000-002.

Receive 06-07 cash early in 07-08 fiscal year (shows up on 07-08 aids register)

Receive 07-08 cash early in 08-09 fiscal year (shows up on 08-09 aids register)

Grant Receivables

July 1, 2007July 1, 2008

✔Submit 07-08 grant claims.

✔Book revenue in 07-08 Source and end-of-year 07-08 receivable in 715000-002.

Annual Report edit:

Annual Report entry should equal the Aids Register amount minus the beginning-of-the-year receivables (06-07 revenue) plus the end-of-year receivables (07-08 revenue).

questions
Questions?
  • Visit our web site:

http://dpi.wi.gov/sfs/index.html

or call
Or call:
  • Brad Adams, Consultant, 267-3752
  • Lori Ames, Consultant, 266-3464
  • Karen Kucharz, Consultant, 267-9707
  • Jerry Landmark, Assistant Dir., 267-9209
  • Gene Fornecker, Auditor, 267-7882
  • Natalie Rew, Auditor, 267-9212
  • Kathryn Guralski, Auditor, 266-3862
  • David Carlson, Director, 266-6968
ad