1. School Finance Financial Transparency
Adam Williams
School Finance Division
April 2015

2. Agenda Financial December Data Pipeline Update: FY14-15
Financial Transparency Looking Ahead: FY15-16
Mill Levy Override Revenue Report Update
BrightBytes Presentation 2

3. Financial December Data Pipeline Update: FY14-15
Wrapping up the FY14-15 Reviews
Year-end review letters sent
Letter approach – communicate with primary pipeline business official via to address all review items 3

4. Financial December FY14-15: Top Three Issues
Financial Transparency webpages: Non-Compliance
Template not followed
Document posting – current year and previous two years
Financial staff listing
Link to CDE website 4

5. Financial December FY14-15: Top Three Issues
Expenditures in excess of appropriated amounts
Working with identified districts to ensure effort is made to avoid expenditures in excess can be avoided 5

6. Financial December FY14-15: Top Three Issues
Food Service Fund Issues
Commodities Coding
Expenditures in Excess
Negative “unassigned” fund balance, and other fund balance/fund equity coding issues
Food service fund is now a Special Revenue Fund, not a Proprietary Fund
Ensure Chart of Accounts is followed
Work with independent auditor to ensure the pipeline data submitted matches the audit 6

7. Financial Transparency Looking Ahead: FY15-16
Only two months left in FY15-16
Important to remember that your FY15-16 data is the first data that will be used for the Financial Transparency Public Website View – this data will tell a story to the public
Basic Consideration Guide
Expenditure Analytics: FY12-13, FY13-14
Ensure FY15-16 webpage template is followed
Small Rural exemption
Exempt from tying expenditures to unique school codes
NOT exempt from posting financial data on district’s financial transparency webpage 7

8. Financial Transparency Looking Ahead: FY15-16
Post your FY15-16 financial data file when your audit is completed
What financial data will I post on my district’s webpage?
Can be the Financial December Pipeline file
Can be another financial data file
MUST follow the Chart of Accounts
MUST be the standard 48 bit account length
When CDE reviews the FY15-16 audit, we will review the financial transparency webpage to ensure all required documents are posted – including the FY15-16 financial data file for use in the Public Website View: BrightBytes 8

9. Mill Levy Override Revenue Report: FY14-15 Report Update
FY14-15 – all districts reported mill levy override revenue information in Fund 90
Source 1170 Amount Authorized – Voter Approved Overrides
Source 1171 Amount Collected – Voter Approved Overrides
Source 1172 Amount Distributed to Charter Schools – Voter Approved Overrides
Source 1173 Amount Distributed to Non-Charter Schools – Voter Approved Overrides
Source 1174 Amount Retained by District – Voter Approved Overrides 9

10. Mill Levy Override Revenue Report: FY14-15 Report Update
Preliminary Report on CDE website
Addendums
Per CRS a district or charter school may request an addendum
Capital Construction and Facilities Fund
Technology Funding
Other Funding that the school districts distributes to charter schools of the district
CDE is collecting this addendum information from districts
Report to be published in mid-May 10

11. Financial Transparency: Web Resources
All Financial Transparency information is located on the CDE website: 11

12. School Finance Questions CASB