public school finance update november 2011 n.
Skip this Video
Loading SlideShow in 5 Seconds..
PUBLIC SCHOOL FINANCE UPDATE November, 2011 PowerPoint Presentation
Download Presentation

Loading in 2 Seconds...

play fullscreen
1 / 26

PUBLIC SCHOOL FINANCE UPDATE November, 2011 - PowerPoint PPT Presentation

  • Uploaded on

PUBLIC SCHOOL FINANCE UPDATE November, 2011. Leanne Emm Assistant Commissioner 303-866-6202 Accreditation Report & Financial Transparency Governor’s Budget Request. Agenda. Annual Audits, Accreditation Report & Financial Transparency. Annual Audits – June 30, 2011.

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

PowerPoint Slideshow about 'PUBLIC SCHOOL FINANCE UPDATE November, 2011' - yaphet

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
public school finance update november 2011


Leanne Emm

Assistant Commissioner


annual audits june 30 2011
Annual Audits – June 30, 2011
  • Present to your Board of Education by November 30
  • Postmarked audited financial statements & Accreditation Report
    • CDE and State Auditors Office by December 30
    • ADE Submission by December 30
  • Requests for extensions must be made before December 30
fy2010 11 accreditation report
Two new questions - Financial Transparency

C.R.S. 22-44-301 through 304

Has the school district complied with all of the reporting requirements of the Public School Financial Transparency Act?

Has the school district’s charter school(s) complied with all the reporting requirements of the Public School Financial Transparency Act?

FY2010-11 Accreditation Report
financial transparency
HB 10-1036 requires each “Local Education Provider” (LEP) to post financial information on-line, in a downloadable format, for free public access.

LEP is defined as:

A School District:

A Board of Cooperative Services (BOCES);

A Charter School Institute;

A District Charter School; and

An Institute Charter School.

Financial Transparency
financial transparency1
Commencing July 1, 2010:

District Adopted Budget for FY09-10 and FY10-11

District Financial Audit

Quarterly Financial Statements

Salary Schedules or Policies

Additionally Commencing July 1, 2011:

Accounts Payable Check Registers

Credit, Debit and Purchase Card Statements

Financial Transparency
financial transparency2
Additionally Commencing July 1, 2012:

Investment Performance Reports

Personal information relating to payroll, including but not limited to payroll deductions or contributions, or any other information that is confidential or otherwise protected from public disclosure is not required to be posted.

Financial Transparency
financial transparency3
Available online and updated within sixty days after the completion or receipt of the applicable report, statement, or document

Maintain the prior two budget years’ financial information on-line until the end of the current budget year

CDE Website – template as prescribed by HB 10-1036

Financial Transparency
assumptions fy2012 13 budget request
AssumptionsFY2012-13 Budget Request

Late February 2012 – actual inflation

assumptions fy2012 13 budget request1
AssumptionsFY2012-13 Budget Request
  • Preliminary assessed values from counties indicate original decline anticipated for FY 2011-12 is not as high
    • Anticipated decline of 7.21%
    • Preliminary August AVs – decline of 5.28%
    • Potential increase in local share of $35.4 million for 2011-12
    • For 2012-13, estimated growth in local share of $20.6 million
assumptions fy2012 13 budget request2
AssumptionsFY2012-13 Budget Request
  • $67.5 million through SB11-230
    • For FY2011-12, intent to be used for mid-year changes in enrollment or assessed values
    • Request for FY2012-13 utilizes these funds to offset any needed increases in negative factor

The actual funded Total Program has declined 8.26% from the high in 2009-10.

Gap represents negative factor of 18.04%

general planning
General Planning
  • Recommended to review Property Tax Collections
    • Is your percentage of collections remaining strong?
    • Is it declining or increasing? Delinquencies?
    • Remember – the State assumes 100% collections when setting Total Program
    • If you have less than 100% - your budget should reflect this
  • Pupil Enrollment
  • Pupil Counts and Assessed Values
    • Finalized in December
  • Mill Levies & any adjustments to AVs
    • January/February
  • Supplemental Budget Request Submitted based revised counts, AVs, mills
    • February
upcoming training sessions
Financial Policies and Procedures Handbook Update Webinar

Wednesday, November 16 – 10:00

Thursday, December 8 – 2:00

BEST Program

Thursday, November 17 – 10:30

Upcoming Training Sessions