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Internal Acounts

Internal Acounts. Internal Accounts. Due from Internal Accounts. Quarterly Transfers to Fund 1000 Remittance Transmittals Timely Processing of payments The Remittance Transmittal form KSB1 report for Internal Accounts Distribution schedule of the report Variants available for use

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Internal Acounts

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  1. Internal Acounts Internal Accounts

  2. Due from Internal Accounts • Quarterly Transfers to Fund 1000 • Remittance Transmittals • Timely Processing of payments • The Remittance Transmittal form • KSB1 report for Internal Accounts • Distribution schedule of the report • Variants available for use • Report subtotal structure • Who to contact

  3. IMPORTANT!! • Remit payment on school’s Due from Internal Accounts MONTHLY! MONTHLY! • The Office of the Chief Auditor will be looking closely at schools’ Due from Internal Accounts balances

  4. Quarterly Transfers • Schools are not permitted to carry balances over three months • Unpaid balances are transferred to schools’ General fund (Fund 1000) on a quarterly basis

  5. Third Quarter • KSB1 report as of 3/31/11 • Due to the Treasurer’s no later than 4/29/11 • Data Used to calculate the amount transferred: • Expenditures as of 3/31/11 • Remittances as of 4/29/11 • Transferred amounts will post on 4/29/11 to a Past Due account into the school’s General fund

  6. Fourth Quarter • KSB1 report as of 6/30/11 • Due to the Treasurer’s no later than 7/29/11 • Data Used to calculate the amount transferred: • Expenditures as of 6/30/11 • Remittances as of 7/29/11 • Transferred amounts will post on 7/29/11 to a Past Due account into the school’s General fund

  7. Pony Service Announcement • There will not be any pony service on Monday, April 25 and Tuesday, April 26 and maybe Thursday, April 28, 2011. • On these 3 days, ALL personnel will be used to pick up FCAT materials only. • Please spread the word and get ready what you can ahead of time. • If you have an emergency, please call 754-321-2875 or 754-321-4721.

  8. Timely Remittances • Third quarter balances are due to the Treasurer’s Office by April 30 (a Saturday). What does it mean? • The remittance transmittal needs to be in possession of the Treasurer’s Office on the last work day before it’s due to their office (April 29) • Calculate the number of days it takes from the moment the check is cut to the moment it reaches the Treasurer’s Office • Treat this transaction as if it were your cell phone bill, which may incur a late fee payment if remitted late

  9. Remittance Transmittal • Include Check number for ease of reference • This information will display on the KSB1 report

  10. Remittance Transmittal • Regular Due from Internal Accounts • Other – Buses, POs, STOs, Printing, etc. • Salary – SBBC employees (ticket taker, ticket seller, campus monitor, security specialist, etc.) • Athletics – Officials and PurchSvcs (armored services)

  11. Remittance Transmittal • Settlement and Loans • Limited to select schools • Settlement – Balances from 2009-2010, 18 schools • Loans – Existing loans, 2 schools

  12. Remittance Transmittal • Past Due line of the form • Use this line if your school had quarterly balances transferred to your school’s General fund (Fund 1000) • How many schools have had balances transferred? • 1st Quarter – 4 schools • 2nd Quarter – 61 schools

  13. KSB1 Report • Emailed to schools around the 10th day following the end of the previous month • April 30th report will be emailed on May 10th • You can run the report using this criteria • Variant IA_ALL_SCH • From 7/1/10 to the last day of the previous month • Not using the variant and correct date range will create balances that differ from the emailed report • Other variants available • IA_PAST_DUEfor schools with transferred balances • IA_SETTLE for schools with 2009-10 balances • IA_LOAN for schools with existing loans

  14. Report Subtotals

  15. Distribution List • The email distribution list contains: • Bookkeepers • Budgetkeepers • Area Business Analysts • Why is your name on the list if you are a Budgetkeeper? • Because periodically I will send information for both groups (Bookkeepers and Budgetkeepers) • Budgetkeepers: Delete Internal Accounts emails

  16. Extra-Curricular TripsWho to Email or Call…

  17. Stay on Top of Things • Address questions and posting errors with the appropriate party

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