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Jay Grimes jgrimes@isbe 815.929.3968

ISBE Regional Financial Consultants. Jay Grimes jgrimes@isbe.net 815.929.3968. Carl Holman cholman@isbe.net 618.397.8930 x116. Brent Appell bappell@isbe.net 217.785.8779. Agenda for today. Illinois Program Accounting Manual ISBE reports General State Aid Transportation

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Jay Grimes jgrimes@isbe 815.929.3968

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  1. ISBE Regional Financial Consultants Jay Grimes jgrimes@isbe.net815.929.3968 Carl Holman cholman@isbe.net618.397.8930 x116 Brent Appell bappell@isbe.net217.785.8779

  2. Agenda for today • Illinois Program Accounting Manual • ISBE reports • General State Aid • Transportation • Special Education • School District Financial Profile

  3. Illinois Program Accounting Manual Introduction • Fund Accounting • Balance Sheet Accounting • Revenue Accounting • Expenditure Accounting

  4. FUND ACCOUNTING • Independent fiscal & accounting entity • Two fund minimum • Educational Fund • Operations & Maintenance Fund

  5. FUND ACCOUNTING (continued) • Nine available funds • Educational Fund • Operations & Maintenance Fund • Bond & Interest Fund • Transportation Fund • Municipal Retirement/Social Security Fund

  6. FUND ACCOUNTING (continued) • Nine available funds (continued) • Site & Construction/Capital Improvement Fund • Working Cash Fund • Rent Fund • Fire Prevention & Safety Fund

  7. FUND ACCOUNTING (continued) • Two self-balancing groups of accounts • General Fixed Assets • General Long-Term Debt

  8. BALANCE SHEET ACCOUNTING • Assets • Liabilities • Fund Balance

  9. ILLINOIS PROGRAM ACCOUNTING/ANNUAL FINANCIAL REPORT – BALANCE SHEET

  10. REVENUE ACCOUNTING • Represent receipt of cash • Four sources • Local • Flow-through • State • Federal

  11. ILLINOIS PROGRAM ACCOUNTING/ANNUAL FINANCIAL REPORT - REVENUES

  12. EXPENDITURE ACCOUNTING • Represent payment of cash • Eleven classification groups • Fiscal Year • Fund • Source of Funds • Instructional Organization • Operational Unit

  13. EXPENDITURE ACCOUNTING (continued) • Eleven classification groups (continued) • Function • Object • Job Classification Activity • Term • Subject Matter Area • Program

  14. ILLINOIS PROGRAM ACCOUNTING/ANNUAL FINANCIAL REPORT - EXPENDITURES

  15. ILLINOIS PROGRAM ACCOUNTINGExpenditure Account Numbers

  16. ILLINOIS PROGRAM ACCOUNTING • Balance Sheet Account: • Interfund Loan (Working Cash Fund to Transportation Fund) Fund Account # FundAccount #

  17. ILLINOIS PROGRAM ACCOUNTING • Revenue Account: • Received State Funds for the Professional Development Block Grant FundAccount #

  18. ILLINOIS PROGRAM ACCOUNTING • Expenditure Account • Payment for Superintendent Search FundFunction #Object #

  19. General State Aid

  20. General State Aid

  21. Minimum Time Requirements

  22. Minimum Time Requirements

  23. Days Creditable Toward Meeting 185-Day Calendar Requirements

  24. Pupil Transportation: Pupils

  25. Pupil Transportation: Mileage

  26. Pupil Transportation: Expenditures

  27. School District Financial Profile • Fund Balance to Revenue Ratio • Expenditure to Revenue Ratio • Days Cash on Hand • Remaining Short Term Debt Capacity • Remaining Long Term Debt Capacity

  28. Fund Balance to Revenue Ratio 4 Greater or equal to 25% 3 Less than 25% but greater or equal to 10% 2 Less than 10% but greater or equal to 0% 1 Less than 0%

  29. Expenditure to Revenue Ratio 4 $1.00 or less 3 $1.00 - $1.10 2 $1.10 - $1.20 1 Greater than $1.20

  30. Days Cash on Hand 4 At least 180 days 3 90 to 180 days 2 30 to 90 days 1 Less than 30 days

  31. Percentage of Short- and Long-Term Debt Remaining 4 Greater than or equal to 75% 3 50 to 75% 2 25 to 50% 1 Less than 25%

  32. Weighting the Score • 35% of total score • Fund Balance to Revenue Ratio • Expenditure to Revenue Ratio • 10% • Days Cash on Hand • Remaining Short-Term Debt Capacity • Remaining Long-Term Debt Capacity

  33. Profile Designations • Financial Recognition 4.00 – 3.54 • Financial Review 3.53 – 3.08 • Financial Early Warning 3.07 – 2.62 • Financial Watch 2.61 – 1.00

  34. Designation Breakdown 2003 2004 2005 Recognition 431 356 449 Review 240 241 249 Early Warning 135 140 111 Watch 87 156 79

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