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You are a key to financial success at TCS !!!

You are a key to financial success at TCS !!!. Our Sources of Revenue. Our Sources of Revenue. In 2015-2016: 93.08% of State Funds were spent on salaries and benefits. Overall 74.71% was spent on salaries and benefits. It is very difficult to make budget cuts without an effect on personnel.

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You are a key to financial success at TCS !!!

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  1. Youare a key to financial success at TCS!!!

  2. Our Sources of Revenue

  3. Our Sources of Revenue In 2015-2016: 93.08% of State Funds were spent on salaries and benefits. Overall 74.71% was spent on salaries and benefits. It is very difficult to make budget cuts without an effect on personnel.

  4. The Biggest Misconception About Our Funds There is no limitless supply of money. We have no other sources of funds. By law we cannot tax or borrow.

  5. What is a Budget Code? A series of numbers that identifies the funding source, the school responsible for spending the funds, the plan or purpose of the funds and the specifics of the expenditure.

  6. Budget Code Structurex.xxxx.xxx.xxx.xxx.xxx.xx1.5110.061.411.316.000.00 • Fund - Identifies the source of the funding • Purpose Code – Describes the reason or purpose • Program Report Code (PRC) – Identifies the program • Object Code – Describes the specifics of the expenditure • Location – Identifies the school number • Local Use #1 – Available for identifying special items • Local Use #2 – Available for identifying special items

  7. Types of Funds • Fund 1 - State Funds • Fund 2 - Local Funds • Fund 3 - Federal Funds • Fund 4 - Capital Funds • Fund 5 - Child Nutrition • Fund 6 - Daycare Fund • Fund 7 - Internal Service Fund

  8. Types of Purpose Codes 5000 - Instructional Services 6000 - System-Wide Support Services 7000 - Ancillary Services 8000 - Non-Programmed Charges 9000 - Capital Outlay

  9. Types of Report Codes 001 - Classroom Teachers 003 - Non-Instructional Support 024 - DSSF 027 - Teacher Assistants 031 - Low Wealth Funding 032 - Exceptional Children (EC) 035 - Child Nutrition 050 - Title I 056 - Transportation 061 - School Supplies & Materials

  10. Types of Object Codes 100 - Salaries 121–Teachers, 142-TAs, 162-Substitutes 200 - Employer Provided Benefits 211-Social Security, 221-Retirement 300 - Purchased Services 311-Contracted Services, 312-Workshops, 326-Contracted Repairs, 332-Travel, 342-Postage 400 - Supplies & Materials 411-Supplies, 418-Software, 459-Food/Snacks, 461-Non Cap Equip, 462-Non Cap Computer Equip 500 - Capital Projects/Capitalized Equipment 541-Equipment, 542-Computer Equipment

  11. Budget Code Resource TCS Finance Website: Will be updated with lots of information including documents that provide explanations of every section of the budget code structure and a pivot table of valid budget codes.

  12. Budget Code General Information • Budget Codes will vary among schools and departments • Budget Codes must have an unencumbered balance before the code can be used • Budget Transfers must be done if a code does not have unencumbered balance. • If a budget code needs to be added then please email the Finance Officer.

  13. Budget Transfer Rules • Submitted on Budget Transfer Form • Justification should be full and complete • No transfers between Program Report Codes in State or Federal funds • Transfers between Purpose Codes must have Board of Education approval. • Transfers using object code 1XX always include 2XX • Transfer of federal funds may impact Indirect Cost • Follow instructions with the form

  14. State Laws Pertaining to School Finances §115C-288 Principal Duties §115C-438 Provisions for Disbursement of State Money §115C-441 Budgetary Accounting for Appropriations §115C-445 Daily Deposits §115C-447 Annual Independent Audit §115C-448 Special Funds of Individual Schools §115C-523 Care of School Property

  15. How You Can Help Us Prevent Problems Flexibility, Responsibility, and Accountability Make sure all reports submitted to the Finance Department are accurate and submitted in a timely manner Make sure you have a valid Budget Code and available funds before making any purchases Spend, but don’t overspend your money and spend State money before Federal or Local In these tight budget times, stretch your dollars for more purchasing power. Compare prices online using Google or other websites Principals & Directors must work together with their administrative support staff to ensure efficient & effective use of limited resources.

  16. Let’s work together!!!We are all keys to success.

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