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  1. Adult Education Financial Matters

  2. Adult Education Financial Matters • Accounting Codes • EF-X-132 – Financial Page • Budget Approval Process • Other Issues • Questions

  3. 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

  4. http://www.maine.gov/education/data/schfindata.htm

  5. 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)

  6. 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

  7. 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)

  8. 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

  9. Accounting Codes The fund from which the funds are being expended 100 6500 1000 1010 40

  10. 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

  11. Accounting Codes • The program that is spending the funds 100 6500 1000 1010 40

  12. Accounting Codes Examples of Program Codes(specifically applicable to adult education) * Summary Code

  13. Accounting Codes • The function for which the funds are being spent 100 6500 1000 1010 40

  14. Accounting Codes Examples of Function Codes

  15. Accounting Codes • The object on which the funds are spent 100 6500 1000 1010 40

  16. Accounting Codes Examples of Object Codes

  17. Accounting Codes • The level of instruction associated with the expenditure (Cost Center) 100 6500 1000 1010 40

  18. Accounting Codes Examples of Cost Center Codes

  19. Accounting Codes • Handbook - 2R • Out of date • Chart of Accounts • Required for all financial reporting to MDOE

  20. Accounting Codes Can you name these accounts?

  21. Accounting Codes Benefits for the teacher of an adult education CTE course

  22. Accounting Codes Supplies for an adult education high school completion course

  23. Accounting Codes Salary for an adult education teacher of an adult transitions course

  24. Accounting Codes Salary for an adult education Director

  25. Accounting Codes Salary for an adult education teacher of an adult transitions course

  26. Accounting Codes Salary for an adult education teacher of an college transitions course

  27. Program Codes ** Subsidizable Category

  28. Special Object Codes

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

  30. EF-X-132 – Page 1 • 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

  31. EF-X-132 – Page 1 • 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

  32. EF-X-132 – Financial Page

  33. EF-X-132 – Financial Page • 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)

  34. EF-X-132 – Financial Page * = Subsidizable Expenditure

  35. EF-X-132 – Financial Page

  36. EF-X-132 – Financial Page 1.00 Line 10f on Page 1 Director’s Salary Detail Page 3

  37. EF-X-132 – Financial Page

  38. EF-X-132 – Financial Page

  39. EF-X-132 – Financial Page Director’s reported salary reduced by the 25% reflecting the percentage of time spent on Alternative Education 1.00

  40. Accounting Codes • 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!

  41. Financial Reporting • 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

  42. Subsidy Calculation Worksheet • 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

  43. Questions on Financial Reporting

  44. Recent Financial IssuesAnd Changes

  45. Recent Financial Issues • 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

  46. Recent Financial Issues • 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