Tier I Annual Update. 2012-2013 CASBO Class SM401A. A.C.A. § 6-20-2204 Required Tier 1 Training. Superintendent, Education Service Cooperative Director, Open-enrollment Public C harter S chool D irector, General Business Manager. 12 hours of initial training.
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CASBO Class SM401A
Any public procurement unit may either participate in, sponsor, conduct, or administer a cooperative purchasing agreement for the acquisition of any commodities or services with one (1) or more public procurement units or external procurement activities in accordance with an agreement entered into between the participants. Such cooperative purchasing may include, but is not limited to, joint or multiparty contracts between public procurement units and open-ended state public procurement unit contracts which are made available to local public procurement units.
That Arkansas governmental entities may utilize a purchasing agreement established by another governmental entity or established cooperative that has issued, reviewed and awarded a contract to a supplier where all the procurement laws of Arkansas were followed.
See Taps and TCPN; §19-11-249 controls over usual bid requirements of § 6-21-304, A.G. Op. 2006-042
If a cooperative agreement is on the Office of State Procurement Contract Website, it has been through that review.
If it is not on the OSP website, the buying entity must review the solicitation documentation used by the originating entity/cooperative to ensure compliance with Arkansas laws.
Obtain advantages of volume purchases
Combines qualities so that each entity will obtain the best value
Reduces administrative costs of purchasing
See Appendices for copy of FIN-09-071, April 28, 2009
Districts are responsible for budgeting to the proper codes as listed in the Arkansas Financial Handbook
BUDGET MISCONCEPTIONS requirements?
POSTINGS to WEB requirements?
Required Financial Reports to be posted to district website:
All this information and data shall be available and easily accessible on the district’s website for the previous two years and the projected budgeted information for the current school year.
Compliance is required for accreditation. Data must be easily accessible, in parent friendly language and shall be the actual data for two years.
Duplicate Enrollment Audits A.C.A. §6-17-2301
Reconfiguring or Changing LEA Numbers A.C.A. §6-17-2301
CHANGES MUST NOT BE MADE UNTIL AFTER FISCAL YEAR-END CLOSE
10% Budget/Expenditure Variance
CEIS – Coordinated Early Intervening Services
PSPS – Private School Proportionate Share
information from this section is in the
Categorical and NSLA Funding A.C.A. §6-17-2301
The Rule on Special Needs (Categorical Funding)
is in the Appendices
Funding for 2012-13
ALE: $4,228 Multiplied by the number of identified ALE students enrolled in previous school year.
PD: $ 52 (current estimated funding is $43.39)
ELL: $ 305 For each identified ELL student
NSLA: $1,549* free and reduced percentage of 90% or greater $1,033* free and reduced percentage of 70-89%
$ 517* free and reduced percentage below 70% *These rates do not account for adjustments due to transition.
FIN-12-095 included in Appendices
ALE, ELL, PD, and NSLA:
FIN-12-094 is included in the Appendices
Photo Courtesy of ADE CNU
Longer School Year
Photo Courtesy of Brandon Rush
Combined Categorical Fund Balances
Installment contracts, lease purchase agreements, and postdated warrants:
Installment contracts, lease-purchase agreements, and postdated warrants:
See A.C.A. § 6-20-402 for complete list of eligible purposes
Maximum term 10 years from the date of issuance, except:
Second-lien commercial bonds
Second-lien commercial bonds – Con’t
Sample “Certificate of Appointment” is included in the Appendices
CASBO Class SF401A
Dedicated Maintenance and Operations
FIN-09-047 and FIN-10-008 are included in
A copy of the Adequacy Funding Matrix is included in the Appendices
Refer to FIN-11-080 for example Journal Entry recording transfer included in the Appendices
Function = 2600 through 2699
Objects = 61000 – 65199 and 65300 – 69999
FIN-12-022 on 9% Requirement
included in Appendices
FIN-12-054 is the latest CM and is included in the Appendices
SGF + ISN
If DEF > (SGF + ISN), district receives DEF
If (SGF + ISN) > DEF, district receives SGF + ISN
* Not currently received by any AR districts
** Revenue code 12100 was changed to 12800 in FY07.
*** Sales and use taxes for capital improvements dedicated to education only.
(ex: FY12 funding uses five-year average of Miscellaneous Funds received in FY06 – FY10)
Total foundation funding per district = calculated Miscellaneous Funds + net revenues + State Foundation Funding aid + URT adjustment
FIN-12-060 is included in Appendices
Actual indirect costs – indirect costs used in calculation 2 years ago
Beginning with 2012-2013 school year:
Pullback is reduced to 32% and another 4% per
year until it is completely eliminated.
If actual collections by June 30 are less than the calculated Pullback amount, and the district accrued in the previous year, the difference may be accrued at June 30.
Property tax revenue collected by June 30 shall be recorded as revenue in the year collected.
(No Deferral Allowed)
10000 Revenue from Local Sources
11000 Taxes. Compulsory charges levied by a governmental entity for the purpose of financing services for the common benefit.
11100 Property Taxes. Taxes levied as a result of a vote by the electorate of a millage rate on personal property, real estate and utilities.
11110Property Taxes - Taxes received from the general levy July through December
11115Property Tax Relief – Relief Taxes received July through December. (May be receipted to 11110 Property)
11120Property Taxes – Taxes received from the general levy January through June
11125Property Tax Relief - Relief Taxes received January through June. (May be receipted to 11120 Property)
11140 Property Taxes - Delinquent. Taxes received during the current year from the general levy for prior years.
11150 Excess Commission. Amounts received from commissions in excess of the treasurer’s salary for the cost of operating the treasurer’s office.
11160 Land Redemption (Include State Land Sales). Amounts received from the sale of land on which delinquent taxes have not been paid.
(see A.C.A. § 26-80-101 (b)(4)(A)(ii))
Commissioner’s Memo FIN-12-082 is included in the Appendices
IF the adjusted athletic square footage should calculate negative, do not make ‘negative’ athletic expenditure allocation.
COMMENT: Since this is a new procedure, there are going to be “gray” areas related to athletic square footage in a multi-purpose building. The district should use sound judgment in determining the amount of athletic square footage and document the calculations used.
Example: An old gym that is used only two periods a day for high school basketball practice. If the district is on a seven-period day, 2/7ths of the square footage should be counted as athletic square footage.
3.01.2 of the Rule: “If only a portion of a multi-function building is used for an interschool athletic program, only the square footage of the portion of the building used for or by an interschool athletic program shall be included in the calcu- lation of adjusted square Footage of athletic buildings.”
Total District Cost of Property Insurance X
Allocation Percentage = Property Insurance to Charge to Athletics AT THIS TIME DISTRICTS ARE NOT REQUIRED TO CHARGE THIS TO THE CAMPUS LEVEL. Example Journal Entry: DR 2000 26XX 000 115 00 65210 $ x.xx (Property Insurance) CR 2000 26XX 000 000 00 65210 $ x.xx (Property Insurance)
Total District Cost of Utilities x Allocation Percentage =Utilities to Charge to Athletics AT THIS TIME DISTRICTS ARE NOT REQUIRED TO CHARGE THIS TO THE CAMPUS LEVEL. Example Journal Entry: DR 2000 26XX 000 115 00 64110 $ x.xx (Water & Sewer) 66210 $ x.xx (Natural Gas) 66220 $ x.xx (Electricity) CR 2000 26XX 000 000 00 64110 $ x.xx (Water & Sewer) 66210 $ x.xx (Natural Gas) . 66220 $ x.xx (Electricity)
Total District Charges to Operating Fund Function 26* Less Property Insurance and Utilities x Allocation Percentage = Maintenance to Charge to Athletics AT THIS TIME DISTRICTS ARE NOT REQUIRED TO CHARGE THIS TO THE CAMPUS LEVEL. Example Journal Entry: DR 2000 26XX 000 115 00 68999 $ x.xx (Allocated Charges) CR 2000 26XX 000 000 00 68999 $ x.xx (Allocated Charges) Account number 68999 “Allocated Charges” is recommended. The other option is to debit and credit each separate account in function 26*. Caution: This calculation should result in the TOTAL athletic portion of maintenance expenditures (other than property insurance and utilities). If other maintenance expenditures have been charged directly to athletics, subtract those amounts before entering journal entry.
8.0 Department Review of LEA Financial Records
8.01 By February 15 of each year, the Financial Accountability Unit of the Department shall review the LEAs’ most currently submitted AFR, AFB, FTEs, and Average Salaries to determine if the financial records are deficient. Any error related to the coding and reporting of financial information that causes a material misstatement of financial information will be cause for determining a deficiency. A material misstatement occurs whenever the submitted data has more than a ten percent variance or when the Department has sent written notification to an LEA regarding specific errors discovered in the financial records.
Rules on Ark. Financial Accounting and Reporting System & Annual Training Requirements
included in Appendices
8.03 The Department shall notify in writing, via certified mail, the superintendent or director of the LEA whose financial records are found to be deficient.
8.07 The SBE may require the superintendent or director and board members to explain and/or appear before the SBE to explain why the district is not complying with state laws or rules.
This means budget changes ARE ALLOWED up to 10% of the total approved budget WITHOUT ADE approvalSee Commissioner’s Memo FIN-12-107 included in the Appendices
FIN-12-078 is included in the Appendices
“Digital resources” yet to be defined. (As of April 26, 2012, Arkansas Department of Finance & Administration considered I-Pads as computer hardware, and therefore taxable. However, they are reviewing this issue)SEE GR-35-69 Exemptions from Tax – Schools included in Appendices from the Dept. of Finance & Administration