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2008-2009 School Budget (Draft)

2008-2009 School Budget (Draft). http://www.sde.idaho.gov/. The Budget. Idaho Code Section 33-801 requires each school district to prepare and submit a budget to the local school board for the next fiscal year.

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2008-2009 School Budget (Draft)

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  1. 2008-2009 School Budget (Draft) http://www.sde.idaho.gov/

  2. The Budget • Idaho Code Section 33-801 requires each school district to prepare and submit a budget to the local school board for the next fiscal year. • The budget must show the estimated revenue the district will collect and the proposed way the revenue will be spent. • The estimated revenue and proposed spending must be equal.

  3. How School Finances are Organized • The basic unit of a school district’s financial system is the FUND. • A fund can be thought of as a checkbook or a pot of money a local school board has set aside for a specific purpose. • Each fund is a separate entity. Creating individual funds allows the school board to monitor that the money is being spent for the intended purpose.

  4. How School Finances are Organized (cont’) • Proposed revenues are organized by fund, then classified as local, state or federal. • Proposed expenditures are organized by fund, then by function/program, (the activity to be carried out, e.g. instruction, elementary school program), and by object of the expenditure such as salaries, benefits, supplies, etc.

  5. How School Finances are Organized (cont’) • The General Fund is the largest of a school district's funds and is the chief operating fund of the school district. It is used to account for all financial resources of the school district except for those required to be accounted for in anotherfund.

  6. How School Finances are Organized (cont’) • Special Revenue Funds (200) account for specific local, state, or federal revenues that are restricted by law or regulation to expenditures for specific purposes. • Other funds include: • Debt Service Funds (300) • Capital Projects Funds (400) • Enterprise Funds (500) • Internal Service Funds (600) • Fiduciary Funds (700) (See detailed definitions in the IFARMS manual located on the SDE website)

  7. Fund Numbers & Function Codes

  8. Revenue Codes

  9. Where to find the Budget Forms School Finance Data & Stats Budget Forms

  10. Budget Forms and Information Available on the SDE Website • Cover * • Certification Page * • Certification Page - Charter Schools * • Publication Format • Revenue Pages* • With Formulas • Without Formulas • Expenditure Pages* • With Formulas • Without Formulas *Submit to SDE

  11. Budget Forms – Supporting Pages • Summary Statement-All Funds* • With Formulas • Without Formulas • Estimating State M and O Revenues* • With Formulas • Without Formulas • Tax Certification Calculation-L-3* • With Formulas • Limitation on Budget Requests; 103% -L-4* • With Formulas • Without Formulas • Revenue Codes • Funds, Programs and Object Codes *Submit to SDE

  12. BUDGET SUPPORTING DOCUMENTS AND DISTRIBUTION SUPPORT • District Unit Calculation Template • Charter Unit Calculations Template • Support Unit Calculations Table (I.C. 33-1002) • Estimating Support Units; Best 28 Weeks • Estimating Support Units; For Salary Based Apportionment • Estimating Exceptional Child Unit Approvals • Estimating Salary Based Apportionment Template • Estimating Salary Based Apportionment Template - Charters • Idaho School Laws • IFARMS Manual

  13. Estimating M & O Revenue (Draft) 2007-2008 State Dist. Factor Best 28 Weeks 1st Reporting Period From Estimating Salary Based Apportionment Template Record in Budget Revenue pg, General Fund

  14. How the Numbers Flow

  15. Form L-3 (Draft) Record on Budget Revenue pg, General Fund Record on Budget Revenue pg, Fund 420, line 11

  16. L – 4 (Draft) Record in general fund

  17. Revenue Pages (Draft)

  18. Expenditure Page (1) ((Draft)

  19. Expenditure Page (2) (Draft)

  20. Budget Timeline • By April 30, 2008 – Notify County Clerk(s) of hearing date and location. • No later than 28 days prior to the annual meeting – • Must Prepare a Budget • Must have aPublic Hearing • Notice of the hearing must be posted and published (see I.C. 33-801 & 33-402) • Posted in at least 3 places in the district for not less than ten (10) days. • Published in a newspaper most likely to give the best general notice • Must Include Summary Statement of: • Proposed budget, current year, and 2 prior year actual amounts expended • General M&O Fund and all Other Funds • At the public hearing, orat special meeting no later than 14 days after • Must Adopt Budget • Annual Meeting – Regular July meeting • Submit signed copy to State • Signed by Superintendent/Charter Administrator and Chairperson of the Board of Trustees • Due no later than 21 days after budget is adopted • Certify budget to County Commissioners • September 4, 2008 (Schedule L-2) • September 8, 2008 (Certify Emergency fund, if applicable)

  21. Quality Assurance The State Tax Commission completes the first review of the L-2, L-2 worksheets, and L-3 form, copies are then sent to the Department of Education for further review: Items to look for: • Did you levy for elected funds (bonds, plant facilities etc.)? • Was the amount budgeted for your voter approved funds in excess of the amount approved by voters?

  22. Detailed Listing of Forms to Submit to SDE • Cover Page • Certification Page (District or Charter) • Revenue pages for all funds • Expenditure pages for all funds • Summary Statement - All Funds (SDE form) • Estimating State M&O Revenues • Tax Certification Calculations - L-3 • Limitation on Budget Requests; 103% - L-4 • If transmitting electronically: Mail or Fax Signed Certification Page

  23. Criteria of Electronic Files • Must be the complete budget (all funds) as approved by your Board of Trustees. • Must conform to the IFARMS codes • Must conform to Budget format provided by SDE • Excel format appreciated

  24. When Preparing the Budget for SDE, Remember: • Each fund is a separate entity. • Record revenue only once in the appropriate fund. • Use revenue and expenditure codes that pertain to the • specific fund. For example, revenue for a federal Title I-A grant would generally be recorded in fund 251, 445100. • Amounts recorded on the Estimating M&O Revenue form should agree with the revenue amounts reported on the budget Revenue Page in the general fund. • SDE summary totals should balance, and transfers in and out should net to zero. • Refer to pages 62 thru 68 in the IFARMS manual for help with revenue classifications.

  25. Questions?? • Contact • Kathryn Vincen • Idaho Department of Education • Public School Finance • 208-332-6840 • Email – klvincen@sde.idaho.gov • Fax 208-334-2228

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