Presentation on theme: "BUDGET BASICS BOOT CAMP BASIC TRAINING Butte County Office of Education."— Presentation transcript:
BUDGET BASICS BOOT CAMP BASIC TRAINING Butte County Office of Education
Agenda Basic Training -Basics of SACS -Break -Budget
Basics of SACS Topics -What is SACS? -SACS Org Keys and Cost Centers -SACS Resource Codes -Fiscal Year/Project Year -SACS Object Codes -Using SACS
WHAT IS SACS? Basics of SACS
What is SACS? SACS (Standardized Account Code Structure) is a series of account codes used to easily: classify revenues and expenses keep accounting in regulatory compliance facilitate financial reporting
SACS ORG KEYS AND COST CENTERS Basics of SACS
What is an Org Key, basically? -An Org Key is an account number used to pay for goods and services and accept income -Each program has it’s own set of Org Keys -There are different Org Keys used for different type of revenues and expenses
What is an Org Key, specifically? -An Org Key is a shortcut to a specific combination of SACS codes -This SACS code combination is like the DNA of the Org Key, it can and cannot do specific things because of it’s “DNA” -Like DNA, every Org Key is unique
What are the SACS codes that makeup the DNA of each Org Key?
What is an Org Key, specifically? Each Org Key contains a combination of these SACS Codes making up it’s “DNA”: Fund Resource Project Year Goal Function School Manager
Types of Org Keys Due to the need for different specific SACS code combinations, BCOE has developed four main different types of Org Keys. They are: 1.“Regular” Org Keys 2.“OGA” Org Keys 3.“Admin” Org Keys 4.“M&O” Org Keys
“Regular” Org Keys A “Regular” Org Key is used for the majority of program expenses, like: Books Salaries and Benefits Services Independent Contractors Equipment
“OGA” Org Keys “OGA” stands for “Other General Administration”. An OGA Org Key is only ever used for two things: 1.Indirect costs 2. Revenues
“Admin” Org Keys “Admin” stands for “Administration”. An Admin Org Key is used for: Administration expenses as defined by your specific program Most common example is a school budget with “Site” expenses and “Admin” expenses
“M&O” Org Keys “M&O” stands for “Maintenance and Operations”. An M&O Org Key is used for: Maintenance expenses “CU” or Cost Unit costs for pooled maintenance and operations expenses
What is Cost Center? A Cost Center is: A group of related Org Keys with the same Resource Code A Cost Center generally contains at least one Regular Org Key and one OGA Key.
SACS RESOURCE CODES Basics of SACS
What is a Resource Code? Generically, a Resource Code is the part of the SACS that: Classifies specific revenues and resulting expenditures Restricted programs generally each have their own resource code Reporting is generally done based on Resource Code
What is a Resource Code? Here are some examples of Resource Codes at BCOE: Migrant Education Juvenile Court School After School Education and Safety – 6010 Routine Repair and Maintenance
SACS Resource Code Matrix DescriptionResource Code Range Unrestricted Resources Restricted Revenue Limit Resources Federal Restricted Resources State Restricted Resources Local Restricted Resources
FISCAL YEAR/PROJECT YEAR Basics of SACS
Fiscal Year A fiscal year, in California Schools, is: A year that runs 12-months From July 1 – June 30
Project Year A Project Year: Is defined as any span of time Can last for as many or as few months required Is generally used for Federal programs as their year is 15 months; from July 1 through September 30
Project Year Project Year Org Keys also have a two extra digits representing the project year at the end of the Org Key For example: If Org Key was made into a project year, it would be ; the 14 represents the year ending in
SACS OBJECT CODES Basics of SACS
What is a SACS Object Code? An Object Code is the part of the SACS code used for: Classifying expenditures by the type of item or services purchased Classifying revenue by source and type
SACS Object Code Matrix DescriptionObject Code Range Certificated Salaries Classified Salaries Employee Benefits Books and Supplies Services and Other Operating Expenditures Capital Outlay Other Outgo Other Financing Uses Revenues and Other Financing Sources Balance Sheet
More on SACS Object Codes The BCOE Administrative Services Operating Procedure explains, specifically, which Object Codes are used for which expenses. To access it, go to the BCOE website, select “Administrative Services”, select “Procedures”, then select “Expenditures”.To access it, go to the BCOE website, select “Administrative Services”, select “Procedures”, then select “Expenditures”.
USING SACS Basics of SACS
Using SACS Ensuring revenues and expenses are properly coded is not important, it is mandatory due to the SACS State Reporting Software, which tests for these errors.
Coding Expenses To properly code an expense do the following: 1. Select the correct Org Key 2. Select the correct Object Code 3. Write them in this manor: “Org Key-Object Code” For example,
Examples For Fiscal Services to purchase copy paper: For Title I, Part A to pay a teacher: For BTSA to pay for food for trainings: