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FINANCIAL SERVICES BUDGET DEPARTMENT BUDGET 101 February 27, 2012.

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Presentation on theme: "FINANCIAL SERVICES BUDGET DEPARTMENT BUDGET 101 February 27, 2012."— Presentation transcript:

1 FINANCIAL SERVICES BUDGET DEPARTMENT BUDGET 101 February 27, 2012

2 Marilyn Farrell, Budget Director Marilyn Farrell, Budget Director x8012 Jennifer Eaton, Budget Coordinator Jennifer Eaton, Budget Coordinator x8024 Patty Epps, Position Control Patty Epps, Position Control x8122 BUDGET DEPARTMENT

3 ACCOUNT CODE STRUCTURE GAAP and Legal Compliance GAAP and Legal Compliance – –Guidelines for financial accounting and reporting are derived from generally accepted accounting principles (GAAP). – –School districts are required to adhere to GAAP. – –The Texas Education Code (TEC) and other state statutes contain the legal requirements for public school finance, accounting, budgeting and reporting.

4 ACCOUNT CODE STRUCTURE FUND CODE FUND CODE FUNCTION FUNCTION OBJECT OBJECT SUB-OBJECT SUB-OBJECT ORGANIZATION ORGANIZATION PROGRAM PROGRAM ACTIVITY ACTIVITY SOURCE SOURCE PROJECT PROJECT *Source: Budget Management Guidelines and Procedures document available for download on the Budget website

5 ACCOUNT CODE STRUCTURE FUND CODE - A fund (3 digits) is an accounting entity with a self-balancing set of accounts recording financial resources and liabilities. The fund's purpose can be established by the state or federal government as well as the school district. FUND CODE - A fund (3 digits) is an accounting entity with a self-balancing set of accounts recording financial resources and liabilities. The fund's purpose can be established by the state or federal government as well as the school district. EXAMPLES OF FUND TYPES EXAMPLES OF FUND TYPES –General Fund (Fund 199) –Special Revenue Funds (Funds 200 – 499) Federal (Funds 200 – 379) State (Funds (380 – 459) Local (Funds (460 – 499) –Capital Projects Funds (Funds 600 – 699) –Internal Service Funds (Funds 750 – 799) –Fiduciary Funds (Funds 800 – 899) *Refer to the Budget Management Guidelines and Procedures document available for download on the Budget website for a complete listing.

6 ACCOUNT CODE STRUCTURE –11 Instruction –12 Library –13 Staff Development –23 Campus Administration –31 Counselor –33 Nurse –34 Transportation to/from school –36 Extracurricular –41 General Administration –51 Maintenance –52 Security –53 Data Processing –61 Community Services FUNCTION - A function (2 digits) represents a general operational area in a school district and groups together related activities. Most school districts use all of the functions in the process of educating students or organizing the resources. For example, in order to provide the appropriate atmosphere for learning, school districts transport students to school (function 34), teach students (function 11), feed students (function 35) and provide health services (function 33). Each of these activities is a function. FUNCTION - A function (2 digits) represents a general operational area in a school district and groups together related activities. Most school districts use all of the functions in the process of educating students or organizing the resources. For example, in order to provide the appropriate atmosphere for learning, school districts transport students to school (function 34), teach students (function 11), feed students (function 35) and provide health services (function 33). Each of these activities is a function. SUMMARY OF COMMONLY USED FUNCTIONS SUMMARY OF COMMONLY USED FUNCTIONS *Refer to the Budget Management Guidelines and Procedures document available for download on the Budget website for a complete listing.

7 ACCOUNT CODE STRUCTURE OBJECT - An object code (4 digits) identifies the nature of an account or transaction. The school district's accounting records are to reflect expenses at the most detailed level, as depicted in the chart of accounts for accounting and Public Education Information Management System (PEIMS) reporting (actual data) purposes. OBJECT - An object code (4 digits) identifies the nature of an account or transaction. The school district's accounting records are to reflect expenses at the most detailed level, as depicted in the chart of accounts for accounting and Public Education Information Management System (PEIMS) reporting (actual data) purposes. SUMMARY OF COMMONLY USED OBJECT CODES SUMMARY OF COMMONLY USED OBJECT CODES –6100 Payroll - Common Object Codes 6112 – Substitutes for Teachers/Professionals 6112 – Substitutes for Teachers/Professionals 6118 – Teacher/Professional Extra Duty Pay 6118 – Teacher/Professional Extra Duty Pay 6121 – Support Personnel Extra Duty 6121 – Support Personnel Extra Duty 6122 – Substitutes for Support Personnel/Temps 6122 – Substitutes for Support Personnel/Temps 614X – Payroll Benefit Accounts 614X – Payroll Benefit Accounts *Refer to the Budget Management Guidelines and Procedures document available for download on the Budget website for a complete listing.

8 ACCOUNT CODE STRUCTURE SUMMARY OF COMMONLY USED OBJECT CODES (contd) SUMMARY OF COMMONLY USED OBJECT CODES (contd) –6200 Services – Common Object Codes 6239 – Education Service Center 6239 – Education Service Center 6249 – Equipment Repair Contracts 6249 – Equipment Repair Contracts 6269 – Rentals/Operating Leases 6269 – Rentals/Operating Leases 6291 – Consulting Services 6291 – Consulting Services 6299 – Miscellaneous Contracted Services 6299 – Miscellaneous Contracted Services *Refer to the Budget Management Guidelines and Procedures document available for download on the Budget website for a complete listing.

9 ACCOUNT CODE STRUCTURE SUMMARY OF COMMONLY USED OBJECT CODES (contd) SUMMARY OF COMMONLY USED OBJECT CODES (contd) –6300 Supplies – Common Object Codes 6315 – Custodial/Janitorial and Pest Control 6315 – Custodial/Janitorial and Pest Control 6321 – Textbooks 6321 – Textbooks 6329 – Reading Materials 6329 – Reading Materials 6399 – Teaching/General Supplies 6399 – Teaching/General Supplies *Refer to the Budget Management Guidelines and Procedures document available for download on the Budget website for a complete listing.

10 ACCOUNT CODE STRUCTURE SUMMARY OF COMMONLY USED OBJECT CODES (contd) SUMMARY OF COMMONLY USED OBJECT CODES (contd) –6400 Other Operating – Common Object Codes 6411 – Employee Travel 6411 – Employee Travel 6412 – Student Travel 6412 – Student Travel 6494 – Field Trips (Humble ISD Transportation) 6494 – Field Trips (Humble ISD Transportation) 6495 – Dues 6495 – Dues 6499 – Miscellaneous Operating 6499 – Miscellaneous Operating *Refer to the Budget Management Guidelines and Procedures document available for download on the Budget website for a complete listing.

11 ACCOUNT CODE STRUCTURE SUMMARY OF COMMONLY USED OBJECT CODES (contd) SUMMARY OF COMMONLY USED OBJECT CODES (contd) –6600 Capital Outlay – Common Object Codes 6631 – Vehicles >= $5, – Vehicles >= $5, – Furniture, Equipment and Software >= $5, – Furniture, Equipment and Software >= $5, – Controllable Assets* 6649 – Controllable Assets* 6669 – Library Books and Media 6669 – Library Books and Media *Refer to the Budget Management Guidelines and Procedures document available for download on the Budget website for a complete listing.

12 ACCOUNT CODE STRUCTURE Humble ISD Capital Assets Accounting and Financial Reporting Regulation Humble ISD Capital Assets Accounting and Financial Reporting Regulation –Purpose of Regulation Safeguard the significant investment in capital assets Safeguard the significant investment in capital assets Management tool for the replacement of recurring items Management tool for the replacement of recurring items Comply with State law and regulations, and provide information for the preparation of financial statements Comply with State law and regulations, and provide information for the preparation of financial statements Ensure that capital assets are adequately insured to cover losses Ensure that capital assets are adequately insured to cover losses

13 ACCOUNT CODE STRUCTURE Controllable Assets Controllable Assets –Tangible or intangible assets with a useful life that extends beyond a single reporting period that do not meet the Districts capitalization threshold but for which the District maintains an inventory record for other than reporting purposes, such as security from theft. –Controllable assets include the following: –Athletic/Fine Arts equipment, including uniforms, robes and costumes –Graduation uniforms for administrators –Audio-visual equipment, including TVs, CD players, stereos, certain cameras and projectors –Telecommunications equipment –Computer equipment (computers, laptops, printers, scanners, software) –Health & safety equipment (security systems, AEDs, etc.) –Copiers –Student desks and chairs –Office furniture –Cafeteria tables –Major appliances (these items are large, difficult to move, and generally fixed in place, e.g. ranges, refrigerators, ice makers, washers, dryers, and dishwashers) –Special needs mobility equipment –Tools –Graphing calculators –Commercial grade custodial equipment (back pack vacuums, floor scrubbers, pressure washers, wet/dry vacs, floor buffers, carpet extractors, sweepers, etc.) *Refer to the Capital Assets Accounting and Financial Reporting Regulation which governs the use of capital funds.

14 ACCOUNT CODE STRUCTURE SUB-OBJECT - The sub-object (2 digits) further identifies the object code (numeric and alpha) and is used by a district, campus, or department for management purposes to distinguish accounts. SUB-OBJECT - The sub-object (2 digits) further identifies the object code (numeric and alpha) and is used by a district, campus, or department for management purposes to distinguish accounts. Sub-objects are optional in most cases and are used by the district to further define expenses such as: Sub-objects are optional in most cases and are used by the district to further define expenses such as: –Printing (PR) –Technology (65) –Postage (PM) –Mileage (MI) –Subject Areas such as Math (54), Science (67), etc. *Refer to the Budget Management Guidelines and Procedures document available for download on the Budget website for a complete listing.

15 ACCOUNT CODE STRUCTURE ORGANIZATION - An organization (3 digits) is a group of employees who are obligated to complete a specific responsibility and will generally have an identifiable leader or an individual who is accountable for the overall completion of the responsibility. ORGANIZATION - An organization (3 digits) is a group of employees who are obligated to complete a specific responsibility and will generally have an identifiable leader or an individual who is accountable for the overall completion of the responsibility. Organizations are defined by the Financial Accounting Standards and Reporting Guidelines published by TEA Organizations are defined by the Financial Accounting Standards and Reporting Guidelines published by TEA – High Schools – Middle Schools – Elementary Schools –699 Summer School *Refer to the Budget Management Guidelines and Procedures document available for download on the Budget website for a complete listing. – Administrative –998 Unallocated –999 Undistributed

16 ACCOUNT CODE STRUCTURE PROGRAM - A program intent code (2 digits) is used to account for the cost of instruction and other services that are directed toward a particular need of a specific set of students. The intent (the student group toward which the instructional or other services is directed) determines the program intent code, not the demographic makeup of the students served. PROGRAM - A program intent code (2 digits) is used to account for the cost of instruction and other services that are directed toward a particular need of a specific set of students. The intent (the student group toward which the instructional or other services is directed) determines the program intent code, not the demographic makeup of the students served. SUMMARY OF PROGRAM CODES SUMMARY OF PROGRAM CODES –11 Basic Education –21 Gifted & Talented –22 Career & Technology –23 Special Education –24 State Comp Ed (SCE) –25 Bilingual –26 AEP Basic Services *Refer to the Budget Management Guidelines and Procedures document available for download on the Budget website for a complete listing. –28 DAEP Basic Services –30 SCE Title I –31 High School Allotment –32 Prekindergarten –91 Athletics –99 Undistributed

17 ACCOUNT CODE STRUCTURE ACTIVITY - The activity (4 digits) identifies the campus program, student group, or department program for which the expenditures are intended. Activities can be linked to expenditure as well as revenue accounts. ACTIVITY - The activity (4 digits) identifies the campus program, student group, or department program for which the expenditures are intended. Activities can be linked to expenditure as well as revenue accounts. Activities are optional in many cases. They are required for centralized activity fund accounts. Activities used by the district to further define groups or departments such as: Activities are optional in many cases. They are required for centralized activity fund accounts. Activities used by the district to further define groups or departments such as: –Athletics groups (Basketball, Cross Country, Football, etc.) –Academic groups (Debate/Speech, Science Olympiad, etc.) –Departments/Classes (Math, English, Science, Library, etc.) –Organizations/Clubs (NHS, Student Council, Honor Choir, etc.) *Refer to the Budget Management Guidelines and Procedures document available for download on the Budget website for a complete listing.

18 ACCOUNT CODE STRUCTURE SOURCE - The source (3 digits) identifies the campus/department with budget authority over the expense/receipt. A department can continue to maintain control over those funds that are transferred to campuses and still maintain proper PEIMS coding. SOURCE - The source (3 digits) identifies the campus/department with budget authority over the expense/receipt. A department can continue to maintain control over those funds that are transferred to campuses and still maintain proper PEIMS coding. Source Codes are locally defined by the District and are used to assign budget authority within the financial system. See Summary of Organization Codes for list of values. Source Codes are locally defined by the District and are used to assign budget authority within the financial system. See Summary of Organization Codes for list of values. *Refer to the Budget Management Guidelines and Procedures document available for download on the Budget website for a complete listing.

19 ACCOUNT CODE STRUCTURE PROJECT - The project code identifies grants, bond projects, maintenance projects and other special projects where costs must be accumulated as separate projects with 5 characters in length. PROJECT - The project code identifies grants, bond projects, maintenance projects and other special projects where costs must be accumulated as separate projects with 5 characters in length. Project Codes are locally defined by the district. Some of the examples of how project codes are used to further define expenditures are: Project Codes are locally defined by the district. Some of the examples of how project codes are used to further define expenditures are: –Projects beginning with F are granted by the Education Foundation –Projects beginning with B are capital projects usually funded by bonds –Projects that begin with numbers are generally federal, state or local grants where the first three digits define the fund, the fourth digit defines the expenditure period (e.g. 2 is for ) and the letter code separates multiple grants that may be combined in the same fund. –Projects that begin with GF are part of the General Fund allocation –Projects that begin with SP denote special projects related to unforeseen events (fire damage, water damage, etc.) *Refer to the Budget Management Guidelines and Procedures document available for download on the Budget website for a complete listing.

20 ACCOUNT CODE STRUCTURE STUDENT DEMOGRAPHICS ACADEMIC PERFORMANCE PERSONNEL INFORMATION FINANCIAL DATA (MUNIS) FINANCIAL DATA (MUNIS) Public Education Information Management System (PEIMS) TEA

21 GENERAL INFORMATION Budget Management Guidelines and Procedures Document available for download on the Budget webpage Budget Management Guidelines and Procedures Document available for download on the Budget webpage

22 BREAK

23 GENERAL INFORMATION 2.1 – Definitions 2.1 – Definitions –Accounting Periods - The months within a fiscal year are referred to as accounting periods in MUNIS. The Districts financial reporting periods begin with July (period 1) and end with June (period 12). –Budget Amendment – This is a transfer of budget money between general ledger accounts. These items are generally processed by the budget department.

24 GENERAL INFORMATION 2.1 – Definitions (contd) 2.1 – Definitions (contd) –Capital Asset – Items with a useful life of more than one year and a unit cost greater than or equal to $5,000 (object code 6639.) Capital asset as defined by the District's capitalization policy includes equipment, furniture, works of art, historical treasures and infrastructure.

25 GENERAL INFORMATION 2.1 – Definitions (contd) 2.1 – Definitions (contd) –Controllable Asset – Items that do not meet the district's capitalization threshold, but for which the district maintains an inventory record, and which have a useful life of more than one year (object code 6649.) See the Capital Outlay Guidelines for a specific list of items which qualify.

26 GENERAL INFORMATION 2.1 – Definitions (contd) 2.1 – Definitions (contd) –External Budget Amendment - transfer to/from an account outside of the originating departments budget authority. –Fiscal Year - The start and end of the Districts financial year. The districts fiscal year begins with July and ends with June. –Internal Budget Amendment - transfer to/from accounts within the originating departments budget authority.

27 GENERAL INFORMATION 2.1 – Definitions (contd) 2.1 – Definitions (contd) –Journal Entry – This is a transfer of actuals (e.g. revenues, expenditures) between general ledger accounts. These items are generally processed by the general ledger accountants. –Multiyear Fund – Need exists to manage financial information for a set of accounts greater than one fiscal year (many federal grants have a begin and end date of greater than one year), or where the fiscal year of the grant does not line up with the districts fiscal year (Jul – Jun.)

28 GENERAL INFORMATION 2.1 – Definitions 2.1 – Definitions 2.2 – Creating New Accounts 2.2 – Creating New Accounts 2.4 – Comparison Symbols 2.4 – Comparison Symbols 2.5 – Quick Reference Tools 2.5 – Quick Reference Tools 2.6 – Understanding Multiyear Funds 2.6 – Understanding Multiyear Funds

29 GENERAL INFORMATION Journal Acronyms Journal Acronyms –Accounts Payable API - AP Invoice Posting API - AP Invoice Posting APM - AP Invoice Maintenance APM - AP Invoice Maintenance –Budget Entries BUA - Budget Adjustment BUA - Budget Adjustment BUC - New Budget Posting BUC - New Budget Posting –Cash Receipts CRP - Posted Payments & Reversals CRP - Posted Payments & Reversals GCR - General Cash Receipts GCR - General Cash Receipts

30 GENERAL INFORMATION Journal Acronyms (contd) Journal Acronyms (contd) –Encumbrances GEL - General Encumbrance Journal GEL - General Encumbrance Journal –Journal Entries GEN - General Journal Entry GEN - General Journal Entry GNI - General Journal Import GNI - General Journal Import GRV - Journal Reversal GRV - Journal Reversal –Inventory Entries (Warehouse) INI - Inventory Issue INI - Inventory Issue –Work Order Entries (Print Shop, Postage) WOJ - Work Order Journal WOJ - Work Order Journal

31 GENERAL INFORMATION Journal Acronyms (contd) Journal Acronyms (contd) –Purchase Order Entries POE - PO Entry POE - PO Entry POL - PO Liquidation POL - PO Liquidation POM - Purchase Order Maintenance POM - Purchase Order Maintenance SOY - Open New Fiscal Year SOY - Open New Fiscal Year YEC - Close Current Fiscal Year YEC - Close Current Fiscal Year –Payroll Entries PRJ - Payroll Distribution Journal PRJ - Payroll Distribution Journal PRX - Payroll Texas TRS PRX - Payroll Texas TRS

32 BUDGET TRANSFERS AND AMENDMENTS 4.1 Internal Budget Transfers 4.1 Internal Budget Transfers 4.2 External Budget Transfers 4.2 External Budget Transfers 4.3 Viewing or Editing Pending Amendments 4.3 Viewing or Editing Pending Amendments 4.4 Budget Amendments for Board Approval 4.4 Budget Amendments for Board Approval 4.5 Board Meeting Dates 4.5 Board Meeting Dates 4.6 Making Deposits in Munis 4.6 Making Deposits in Munis –4.6.1 Athletic Activity Fund –4.6.2 Campus Activity Fund –4.6.3 ERATE –4.6.4 Foundation Grants –4.6.5 Livestock Activity Fund –4.6.6 Local Misc Deposit –4.6.7 Local Vending Deposit

33 BUDGET TRANSFERS AND AMENDMENTS Transferring Centralized Activity Funds Transferring Centralized Activity Funds –Between Campus (461) Activity Accounts Create an internal budget transfer in Munis Create an internal budget transfer in Munis Include description of why funds are transferring Include description of why funds are transferring Release for campus administrators approval Release for campus administrators approval –Campus (461) or Student (865) Activity Account to Student Activity (865) or Scholarship Account (810) Complete Request for Internal Transfer of Funds form Complete Request for Internal Transfer of Funds form Initiate budget transfer in Munis (status will be unbalanced) Initiate budget transfer in Munis (status will be unbalanced) Record journal number on transfer request form and submit to the Director of Campus and Departmental Support Record journal number on transfer request form and submit to the Director of Campus and Departmental Support Once original copy of form is received, transfer will be completed and released for your campus administrators approval Once original copy of form is received, transfer will be completed and released for your campus administrators approval Original form will be returned to you when process is complete Original form will be returned to you when process is complete

34 BUDGET TRANSFERS AND AMENDMENTS Transferring Centralized Activity Funds (contd) Transferring Centralized Activity Funds (contd) –Between Student (865) Activity Accounts Complete Request for Internal Transfer of Funds form Complete Request for Internal Transfer of Funds form Initiate budget transfer in Munis (status will be held – do not release journal) Initiate budget transfer in Munis (status will be held – do not release journal) Record journal number on transfer request form and submit to the Director of Campus and Departmental Support Record journal number on transfer request form and submit to the Director of Campus and Departmental Support Once original copy of form is received, transfer will be completed and released for your campus administrators approval Once original copy of form is received, transfer will be completed and released for your campus administrators approval Original form will be returned to you when process is complete Original form will be returned to you when process is complete –Student (865) Activity to Campus (461) Activity Transfer from student activity to campus activity are generally not allowable Transfer from student activity to campus activity are generally not allowable Contact the Finance Department with questions Contact the Finance Department with questions

35 BUDGET TRANSFERS AND AMENDMENTS Querying and Printing Posted Journals Querying and Printing Posted Journals –Under the Financials Menu, select General Ledger Menu, Journal Entry/History, then click Journal Inquiry/Print –In the Journal Inquiry/Print screen, click the magnifying glass to enter find mode –Input these criteria to find a budget amendment journal: Year = Fiscal year journal was posted (2012) Year = Fiscal year journal was posted (2012) Period = Period journal posted (Jul = 1, etc.) or leave blank. Period = Period journal posted (Jul = 1, etc.) or leave blank. Journal = Enter journal number or leave blank Journal = Enter journal number or leave blank Source = BUA for budget amendment journals Source = BUA for budget amendment journals Created by = your user id (first initial and first 6 letters of last name) Created by = your user id (first initial and first 6 letters of last name) Leave the remaining fields blank and click Accept (green check) Leave the remaining fields blank and click Accept (green check) Scroll through journals on screen, print, display or save as PDF file Scroll through journals on screen, print, display or save as PDF file

36 QUERIES, REPORTS AND GUIDELINES 3.1 GL Account Inquiry 3.1 GL Account Inquiry 3.2 YTD Budget Report 3.2 YTD Budget Report 3.3 Capital Outlay Guidelines 3.3 Capital Outlay Guidelines 3.4 Payroll Template 3.4 Payroll Template 3.5 Purchase Orders by GL Account 3.5 Purchase Orders by GL Account

37 QUERIES, REPORTS AND GUIDELINES Centralized Activity Fund Reporting Centralized Activity Fund Reporting –Use Report Sequence under Report Options to control how the report sorts and breaks

38 QUERIES, REPORTS AND GUIDELINES Centralized Activity Fund Reporting (contd) Centralized Activity Fund Reporting (contd) –Example Sponsor Report (see Report Options on previous slide)

39 QUERIES, REPORTS AND GUIDELINES Centralized Activity Fund Reporting Centralized Activity Fund Reporting –Use Totals Only to summarize by Report Sequence for reporting to Principals

40 QUERIES, REPORTS AND GUIDELINES Centralized Activity Fund Reporting (contd) Centralized Activity Fund Reporting (contd) –Example Principal Report (see Report Options on previous slide)

41 QUERIES, REPORTS AND GUIDELINES Budgeting for P-Cards Budgeting for P-Cards –Funds set aside using sub-object P1 –P-Cards using 199-General Fund Funds will be re-appropriated each year from your current year allocation Funds will be re-appropriated each year from your current year allocation Set aside funds will be used against P-Card purchases for June each year Set aside funds will be used against P-Card purchases for June each year In the event a P-Card is cancelled, remaining funds will be released into available balance In the event a P-Card is cancelled, remaining funds will be released into available balance –P-Cards using other funding sources Funds will be set aside one time and remain set aside until P-Card is deactivated Funds will be set aside one time and remain set aside until P-Card is deactivated Set aside funds will be used against P-Card purchases for the last month the P-Card is active Set aside funds will be used against P-Card purchases for the last month the P-Card is active Remaining funds will be released into available balance Remaining funds will be released into available balance

42 QUERIES, REPORTS AND GUIDELINES Year End Close Year End Close –15% Carry Forward Available balances at year end can be rolled forward up to a maximum of 15% of your original General Fund allocation Available balances at year end can be rolled forward up to a maximum of 15% of your original General Fund allocation Accounts that are not part of discretionary funds will be excluded from this calculation (example: utilities, legal fees, etc.) Accounts that are not part of discretionary funds will be excluded from this calculation (example: utilities, legal fees, etc.) Amount will be added to your supply account once approved by the Board of Trustees at the September board meeting Amount will be added to your supply account once approved by the Board of Trustees at the September board meeting

43 QUERIES, REPORTS AND GUIDELINES Year End Close (contd) Year End Close (contd) –Cut Off Dates Transfers between functions for 199-General Fund must be submitted no later than May 31, 2012 in order to be approve by the Board at the June board meeting Transfers between functions for 199-General Fund must be submitted no later than May 31, 2012 in order to be approve by the Board at the June board meeting All requisitions must be entered and approved by administrator June 14, 2012 All requisitions must be entered and approved by administrator June 14, 2012

44 QUERIES, REPORTS AND GUIDELINES Year End Close (contd) Year End Close (contd) –A/P Reconciliation If the appropriate documentation is received by A/P, funds will be appropriated in the next fiscal year for purchases where the goods have not been received by Jun 30 th If the appropriate documentation is received by A/P, funds will be appropriated in the next fiscal year for purchases where the goods have not been received by Jun 30 th Reconcile open POs by running the Purchase Orders by GL Account report (section 3.5) and insure only valid purchase orders are carried forward into the next fiscal year Reconcile open POs by running the Purchase Orders by GL Account report (section 3.5) and insure only valid purchase orders are carried forward into the next fiscal year

45 QUERIES, REPORTS AND GUIDELINES Year End Close (contd) –C–C–C–Capital Outlay Allocation Budget submitted by Feb 23rd All requisitions entered and approve by administrator by May 11th Receiving records entered for items received / services provided on or before Jun 30th by Jul 10th All items must be received by Aug 31st Receiving records entered for items received / services provided after Jun 30th by Sep 7th ALL PAYMENTS MADE BY A/P NO LATER THAN SEP 30TH

46 BEST PRACTICES Review YTD Budget Reports once per week Review YTD Budget Reports once per week Resolve negative balances once per week Resolve negative balances once per week Periodically review and purge any pending budget amendments (section 4.3) and requisitions Periodically review and purge any pending budget amendments (section 4.3) and requisitions Review Field Trip reports from Transportation to ensure correct accounts will be charged Review Field Trip reports from Transportation to ensure correct accounts will be charged Maintain sufficient funds in supplemental pay accounts (6112, 6118, 6121, 6122) and field trip accounts (6494) Maintain sufficient funds in supplemental pay accounts (6112, 6118, 6121, 6122) and field trip accounts (6494)

47 BREAK

48 POSITION CONTROL

49 WRAPPING UP Conclusions Conclusions Questions Questions Scheduling Campus Visits Scheduling Campus Visits

50 THANK YOU!!


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