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Let’s Get Fiscal: PARS, Budget and Accounting, Reimbursement Requests, Inventory

Let’s Get Fiscal: PARS, Budget and Accounting, Reimbursement Requests, Inventory. ESEA Directors Institute August 2016. Office of Local Finance Regional Finance Consultants. Topics. PARS and Semi-annual assurances Budgeting and Accounting Reimbursement Requests Inventory.

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Let’s Get Fiscal: PARS, Budget and Accounting, Reimbursement Requests, Inventory

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  1. Let’s Get Fiscal: PARS, Budget and Accounting, Reimbursement Requests, Inventory ESEA Directors Institute August 2016 Office of Local Finance Regional Finance Consultants

  2. Topics • PARS and Semi-annual assurances • Budgeting and Accounting • Reimbursement Requests • Inventory

  3. PARS: Personnel Activity Reports When does an employee complete a PARS? • If the employee is paid from multiple funds, one of which is federal • If the employee works on multiple cost objectives, one of which is federal • Exception—if the employee has the same weekly schedule and 100 percent of their time could be charged to a federal award, do not complete a PARS, complete a semi-annual assurance instead.

  4. PARS: Personnel Activity Reports What is a cost objective? • Program, function, activity, award, organizational subdivision, contract, or work unit for which cost data are desired and for which provision is made to accumulate and measure the cost of processes, products, jobs, capital projects, etc. What aren’t cost objectives? • Federal programs • Title I, Part A • Doing my job • ESEA or IDEA • Working on initiatives and programs that benefit Students with Disabilities • Educating children in classrooms Examples of Federal Program Cost Objectives: Title I Instruction, Title I Administration, Title I Parent Involvement

  5. PARS • Must be completed after the fact • Should account for 100 percent of employee’s time • Should be prepared at least monthly and coincide with one or more payroll periods • Must be signed and dated by the employee—date should be following the end of the applicable period • Rarely should percentages charged to each fund, match the budgeted percentages • Budgeted percentages may be used initially to charge salaries to federal awards. However, at least annually, reconcile payroll charges to PARS.

  6. Semi-Annual Assurances • For employees working on a single cost objective • Must be completed at least every six months • Must be signed by the employee or supervisor with direct knowledge of the work being performed • Must reflect an after-the-fact distribution of the total activity • And account for the total activity for which each employee is compensated • Sign and date following the close of each semester

  7. Budgeting and Accounting • If at all possible, complete a budget revision in ePlan throughout the year. • Anticipate needed budget revisions and complete, to enable timely submission of reimbursement requests. • Please try to complete all budget revisions prior to June.

  8. Budgeting and Accounting • ePlan budget revision requirements: • Budget revision is needed if you plan to spend more than 110 percent of budgeted amount. • If a line item has no budget, you will need to complete a budget revision to add it.

  9. Budgeting and Accounting • Follow local budget amendment rules: • Cannot overspend in a category (i.e., 71100, 71200, 71300) • Cannot overspend in a salary line item (object codes beginning with one (1)) • Make every effort to get approval to amend the budget before the spending occurs.

  10. Budgeting and Accounting • Account Codes are the set or combination of numbers used in an accounting system that refer to a specific account within the general ledger. • The County Uniform Chart of Accounts, published annually by the Comptroller’s office defines the structure of and actual account codes used in county government in Tennessee. http://www.comptroller.tn.gov/la/pdf/2016UniformChartOfAccounts.pdf

  11. Budgeting and Accounting • Fund Accounting—an accounting system that stresses accountability over profitability. It is used by non-profits and governments. • A Fund is a self-balancing set of accounts separated in accordance with law or regulation. • Education Funds: • 141 General Purpose Fund— • accounts for general operations not accounted for in another fund • 142 Federal Projects Fund— • accounts for grants from the federal government • 143 Central Cafeteria Fund— • accounts for the operation of the cafeteria • 144 Transportation Fund • 177 Education Capital Projects Funds— • accounts for building, building improvements

  12. Budgeting and Accounting • A sub-fund separately accounts for a specific grant within the Federal Projects Fund (142). • Standard sub-funds as recognized by the Department of Education: • Choose any number in the range: • 010-019 Consolidated Administration • 100-109 Title I-A, Improving Academic Achievement • 110-119 Title I-A, School Improvement • 120-129 Title I-G, School Improvement • 200-209 Title II-A, Training and Recruiting • 220-229 Teacher Incentive Fund • 300-309 Title III-A, English Language Acquisition • 430-439 Title IV-B, 21st Century

  13. Budgeting and Accounting • Standard sub-funds continued… • 600-609 Title VI-B, Rural and Low Income Schools • 700-709 Title X-C, Homeless • 800-809 Carl Perkins • 890-899 Special Education Discretionary • 900-909 IDEA-B • 910-919 IDEA Preschool • 960-969 Other Federal Grants • 999 General Purpose Transfer

  14. Budgeting and Accounting • Accounts—sometimes referred to as categories or functions • Assets 10000-19999 Education Expenditures 70000-79999 • Liabilities 20000-29999 Debt Service Expenditures 80000-89999 • Equities 30000-39999 Capital Projects/Transfers 90000-99999 • Revenues 40000-49999 • Accounts/categories used in ESEA budgets: • 71100—RegularInstruction— • general instruction in K-12, includes regular classroom teachers and aides • 71150—AlternativeInstruction— • teachers, aides, expenses for alternative program • 72120—HealthServices— • physical and mental health services—includes nurses • 72130—OtherStudentSupport— • support provided by guidance counselors, psychologists, social workers, assessment personnel

  15. Budgeting and Accounting • 72210—RegularInstructionSupervision—includes supervisor of instruction, instructional computer personnel, primarily accounts for administration of regular instruction; may include a secretary or clerical personnel • 72610—OperationofPlant—accounts for activities that keep the building clean and operational; includes guards, custodial staff, cleaning supplies, utilities, building insurance; have been used in ESEA to account for expenses relative to safety and security • 72710—Transportation—accounts for transporting students to and from school and to school activities; Transportation is an allowable expense in Public School Choice and Homeless, but ESEA cannot pay for general transportation. • 73100—FoodService—expenditures relative to providing meals for students; is only an allowable expense in Title I preschools • 99100—TransfersOut—accounts for transfers to other programs and indirect cost

  16. Budgeting and Accounting • EXPENDITURE OBJECT CODES • 100-199 Salaries 500-599 Other Charges • 200-299 Employee Benefits 600-699 Debt Service • 300-399 Contracted Services 700-799 Capital Outlay • 400-499 Supplies and Materials

  17. Budgeting and Accounting • Commonly used object codes: • 201—Social Security, • 116—Classroom Teacher, • 163—Educational Assistants, • 399—Other Contracted Services, • 429—Instructional Supplies and Materials, • 524—In Service/Staff Development, • 722—Regular Instruction Equipment

  18. Budgeting and Accounting • BUDGETING FOR STAFF DEVELOPMENT/ TRAVEL • Use object code 196 (In Service Training) to pay salaries of employees providing training to other staff. • Use object code 524 (In Service/Staff Development) to pay all other expenses relative to providing or receiving professional development. This includes travel to professional development, meals, parking, and hotel charges when attending professional development, conference registration fees, and fees paid to vendors who provide professional development. • Use object code 355 (Travel) for mileage between schools/central office.

  19. Budgeting and Accounting • OTHER BUDGETING CONCERNS • Don’t forget to budget employee benefits. • Calculate benefits on salaries of all groups of employees within each category. • Ask finance personnel for current rates. Rates expressed as percent of salaries: • Social Security (201)—6.2% • State Retirement (204)—9.04%--certified rate, get non-certified rate from finance office. These rates change every year, changes again in 2017. • Medicare (212)—1.45% • Unemployment compensation (210)—rate unique to each district Per Employee amounts (get amounts from finance office): • Life Insurance (206), Health Insurance (207), Dental Insurance (208)

  20. Reimbursement Requests • Request funds, per grant, at least as often as you have a payroll to prevent cash flow issues. • You may project payroll and request funds prior to the payroll to ensure payment of the reimbursement request at or near the same time of your payroll. • To ensure timely payment, make the request 7 calendar days prior to your payroll.

  21. Reimbursement Requests • Expenditure amounts are entered as year-to-date amounts. • You can true-up actual amounts in subsequent requests. • Don’t forget to include expenditures for non-payroll items in your request. • Follow the 72 hour rule. You must expend funds received within 72 hours of receipt. • This represents 3 business days. • If funds are received on Thursday, then must be spent by Monday.

  22. Reimbursement Requests • Fiscal Information As Of Date— • This is the date through which the expenditures occurred. (NOT the date you enter the request) • This date cannot be later than June 30 of the current fiscal year for the application you are working on. • If you receive a refund from a vendor, do not code these refunds as revenue. • Code these refunds as a credit to the expenditure line item from which the check was originally issued. This ensures that ePlan and your local books are in sync and you can spend those funds again.

  23. Inventory • Track on your inventory listing, equipment costing $5,000 or more per item, and all sensitive minor equipment costing $100 or more per item. • Sensitive minor equipment includes sensitive items such as computers, external computer peripherals, weapons, etc., as determined by the State Personal Property Section as well as all items subject to special education guidelines.

  24. Inventory • Conduct and document a physical inventory of all buildings at least every two years. • Recommended: perform physical inventory annually. • Tag all equipment with tracking number and fund purchased from. • Instruct personnel regarding procedures for tagging, transfer, and surplusingof equipment. • Make sure your written procedures address these items and maintenance of equipment.

  25. Inventory Disposal of Equipment: • Maintain a disposition list for items that you dispose of. • List the reason for disposal. • Reasons include: obsolete, unrepairable, stolen, etc. • Investigate any equipment that is lost. • File a police report on equipment thought to be stolen.

  26. Inventory Disposal of Equipment: • If you sell equipment with a fair market value of $5,000 or greater, obtain permission to sell from grant manager in Nashville. • Return funds to the federal award that made the purchase. • When acquiring replacement equipment, the non-Federal entity may use the equipment to be replaced as a trade-in or sell the property and use the proceeds to offset the cost of the replacement property.

  27. Inventory • Use of Equipment—equipment must be used in the program in which it was acquired as long as needed. • When no longer needed for original program, the equipment may be used in other activities supported by the federal awarding agency in the following order of priority: • activities under a federal award from the federal awarding agency • activities under federal awards from other federal awarding agencies • During the time equipment is used on the project or program for which it was acquired, the equipment will also be made available for use on other projects or programs currently or previously supported by the federal government, provided that such use will not interfere with the work on the program for which it was acquired.

  28. Questions?

  29. FRAUD, WASTE, or ABUSE • Citizens and agencies are encouraged to report fraud, waste, or abuse in State and Local government. • NOTICE: This agency is a recipient of taxpayer funding. If you observe an agency director or employee engaging in any activity which you consider to be illegal, improper or wasteful, please call the state Comptroller’s toll-free Hotline: • 1-800-232-5454 • Notifications can also be submitted electronically at: • http://www.comptroller.tn.gov/hotline

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