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Accounting for Federal Stabilization Monies

Accounting for Federal Stabilization Monies. Presented by Laura Miller June 24, 2009. Calculating Federal Stabilization Monies. ADE will calculate each district’s/charter’s share of the $250 million for FY 2009 Based on total equalization assistance on APOR 64-1

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Accounting for Federal Stabilization Monies

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  1. Accounting for Federal Stabilization Monies Presented by Laura Miller June 24, 2009

  2. Calculating Federal Stabilization Monies • ADE will calculate each district’s/charter’s share of the $250 million for FY 2009 • Based on total equalization assistance on APOR 64-1 • Additional state aid was not included in the calculation • No monies will be distributed to districts/charters that are not active for FY 2010 • Once notified, districts will need to make journal entries for FY 2009 before the end of the encumbrance period to reclassify the revenue and expenditures

  3. Revenue Journal Entry • To reclassify FY 2009 state equalization assistance to federal stabilization revenue 001 000 0000 3110 Revenues—State Equalization Assistance XXX 001 000 0000 4500 Revenues—Restricted Revenue Received from the Federal Gov’t through the State XXX DR CR

  4. Expenditures Journal Entries • To reclassify FY 2009 expenditures in the M&O Fund from program code 100—Regular Education to program code 199—Regular Education-Federal Stabilization 001 199 XXXX 6110 Salaries XXX 001 199 XXXX 62XX Employee Benefits XXX 001 100 XXXX 6110 Salaries XXX 001 100 XXXX 62XX Employee Benefits XXX DR CR

  5. Probable Program Codes for FY 2010 • 199—Regular Education-Federal Stabilization • 281-299—Special Education-Federal Stabilization (separated by type) • 499—Pupil Transportation-Federal Stabilization • 699—Other Instructional Programs-Federal Stabilization

  6. FY 2010 Guidance • E-mail notification regarding accounting for FY 2010 federal stabilization monies • Applicable modifications to FY 2010 final expenditure budget forms • Applicable modifications to FY 2009 AFR • Applicable guidance to charter schools

  7. Other ARRA Grant Monies(Title I, II, and X and IDEA) • Set up separate funds within existing fund ranges. For example, ARRA Title I grants should be included in fund range of 100-139 • Other ARRA grants that are not already assigned a fund range should be assigned a fund number within the Other Federal Projects 300-399 fund range • Provide more guidance in e-mail

  8. Questions? ASD@azauditor.gov

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