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1  Ask Questions Anytime  School Financial Services  Other Topics FY 05-06 Budget Update FY 05-06 Budget Update FY 04-05 F-196 Update FY 04-05 F-196.

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Presentation on theme: "1  Ask Questions Anytime  School Financial Services  Other Topics FY 05-06 Budget Update FY 05-06 Budget Update FY 04-05 F-196 Update FY 04-05 F-196."— Presentation transcript:

1 1  Ask Questions Anytime  School Financial Services  Other Topics FY Budget Update FY Budget Update FY F-196 Update FY F-196 Update Financial Reporting Update Financial Reporting Update SDAAC Update SDAAC Update School District Training Needs School District Training Needs SFS Rules Status SFS Rules Status QZAB’s QZAB’s Financial System Review Project Financial System Review Project  Shared Service Arrangements  FY Accounting Manual Changes  Other Topics – Comments – Questions?

2 2 School Financial Services Ron Stead, CPA Director Christie Hazlett SD/ESD Accounting Mike Dooley, CSBO SD/ESD Budgeting Pam Peppers SD/ESD Financial Reporting

3 3 FY Budget Update   F-195/F-203 Status   ABFR Status

4 4 FY F-196 Update   Indirect Cost Rate Calculation   MOE Tests   Manual input item numbers for: GMA Impact Fees (item #1581) SEPA Mitigation Fees (item #1591)

5 5 Financial Reporting Update   Statewide SD/ESD Financial Reporting Summary is complete and on our website   New Program Series Reports!

6 6 SDAAC Update   Meeting Schedule June thru September, 2005 Subcommittee meetings October 28, 2005 December 9, 2005 January 27, 2006   (Locations to be determined)   Suggested FY Projects?

7 7   School District Training Needs? Debt Service Fund Issues Federal Indirect Cost Rates   School Financial Services Rules Status Conversion of sick leave on separation Leave Sharing Use of Lease & Rental Proceeds in GF   QZAB’s ~$11 million from 2004 & 2005 Allocations

8 8 Financial System Review Project  ~$1.9 million upgrade VAX systems  When will this happen…  What we want them to know…  What we want to know…

9 Shared Service Arrangements and Accounting Manual Updates for Fiscal Year Christie M. Hazlett Supervisor, School District & ESD Accounting

10 10 Shared Service Arrangements  Chapter 1 Added Definitions Added Definitions  Fiscal Agent: o An entity which has been empowered to handle fiscal matters for another entity, including disbursement of passing through of funds. This may include ensuring that the funds are used only for specific purposes defined by the grant or agreement.  Sub-Recipient: o An entity that expends grants or other financial assistance received from a fiscal agent and/or pass-through entity.

11 11 Shared Service Arrangements  Chapter 1 (Continued) Added Definitions Added Definitions  Pass-Through Entity: o An entity that provides grants or other financial assistance received by a governmental entity to transfer to or spend on behalf of a secondary recipient or sub-recipient.  Vendor/Contractor: o A contractor, dealer, distributor, merchant or other seller providing goods or services that is required of the conduct of a federal or state program. These goods or services may be for an organizations own use or for the use of beneficiaries of the federal or state program. (For example, an ESD or School District that provides a good or service to another ESD or School District would be considered a “vendor”.)

12 12 Charts for SSA’s (Hand Out)  Chart 1 – Fiscal Agent and Sub- Recipient  Chart 2 – Vendor  Chart 3 – Fiscal Agent, Sub- Recipients, & Vendor

13 13 Fiscal Agent Journal Entries (Hand Out)  Chapter 7 Section 9 – Shared Service Arrangements with Fiscal Agent Responsibilities Scenario 1 – Fiscal Agent as a Participating District Scenario 1 – Fiscal Agent as a Participating District Scenario 2 – Fiscal Agent as a Non-Participating District with Administrative Responsibilities Scenario 2 – Fiscal Agent as a Non-Participating District with Administrative Responsibilities Scenario 3 – Fiscal Agent as a Non-Participating District with No Administrative Responsibilities Scenario 3 – Fiscal Agent as a Non-Participating District with No Administrative Responsibilities Scenario 4 – Fiscal Agent as a Participating District with On Behalf Payments Scenario 4 – Fiscal Agent as a Participating District with On Behalf Payments

14 14 Accounting Manual Changes  Edits and other changes Reorder of chapters in GAAP order Reorder of chapters in GAAP order  General Fund  ASB Fund  Debt Service Fund  Capital Projects Fund  Transportation Vehicle Fund  Fiduciary/Trust & Agency Funds  Shared Service Arrangements  Fiscal Agent journal entry examples

15 15 Accounting Manual Changes  Chapter 3 - Revenue Recognition Added clarification of revenue recognition versus reimbursement of expenditures. Added clarification of revenue recognition versus reimbursement of expenditures.

16 16 Accounting Manual Changes  Chapter 4 – General Ledger Accounts Deleted GL’s Deleted GL’s  607 – Accrued Vacation Leave  608 – Accrued Vacation Leave Added GL’s Added GL’s  536 – Other Financing Uses – Transfers Out Updated GL’s Updated GL’s  Updated descriptions on several GL’s.

17 17 Accounting Manual Changes  Chapter 5 – Revenue Accounts Deleted Accounts Deleted Accounts  6177 – Eisenhower Professional Development  6377 – Eisenhower Professional Development Added Accounts Added Accounts  6162 – Math & Science Professional Development (NCLB Title II Part B).  List of new revenue accounts – (see handout)

18 18 Accounting Manual Changes  Chapter 5 Revenue Accounts (Continued)… Update Accounts Update Accounts  2700 – Rentals & Leases (Description, SHB 1995)  Other updates as necessary for new revenues  Titles and descriptions in several account numbers

19 19 Accounting Manual Changes  Chapter 6 – Expenditure Accounts Deleted Deleted  Program 77 – Eisenhower Professional Development Added Added  Program 62 – Math & Science

20 20 Accounting Manual Changes  Chapter 6 – Expenditure Accounts (Continued)… Updated Updated  Activity 20 – Instruction (Description)  Activity 24 – Guidance and Counseling (Description, includes homeless liaison work)  Activity 25 – Pupil Management & Safety (Description, includes cell phones)  Activity 61 – Supervision (Description, includes property managers and other clarifications)  Activity 67 – Building & Property Security (Description, includes cell phones)  Others

21 21 Accounting Manual Changes  Chapter 7 – Journal Entries Updates done as needed based on previously mentioned changes Updates done as needed based on previously mentioned changes New Section on Fiscal Agent (talk about later) New Section on Fiscal Agent (talk about later)

22 22 Accounting Manual Changes  Chapter 10 – Grant Management Financial Management of Grants section Financial Management of Grants section  Added section that discusses that program grants may be more restrictive in the accounting for expenditures then the current version of the accounting manual allows

23 23 Accounting Manual Changes  Appendix A Glossary of Terms Glossary of Terms  Terms Deleted o Adult Basic Education o Expendable Trust Fund o Operating Transfer o Residual Equity Transfer  Terms Added o Fiscal Agent o Pass-Through Entity o Sub-Recipient o Vendor

24 24 Accounting Manual Changes  Appendix A – Glossary of Terms (Continued) Terms Updated Terms Updated  Other Financing Sources  Other Financing Uses  Replacement Costs  Food Services = School Food Services

25 25 Other Topics? Comments & Feedback! Questions?

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