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School Food service finance issues

School Food service finance issues. Presenters. Susan Barkley Division of District Support s usan.barkley@education.ky.gov 502.564.3930 extension 4437 Sue Bartenfield Division of School and Community Nutrition s ue.bartenfield@education.ky.gov 502.564.5625 extension 4922.

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School Food service finance issues

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  1. School Food service finance issues

  2. Presenters Susan Barkley Division of District Support susan.barkley@education.ky.gov 502.564.3930 extension 4437 Sue Bartenfield Division of School and Community Nutrition sue.bartenfield@education.ky.gov 502.564.5625 extension 4922

  3. Nonprogram Food Costs • Required by Healthy Hunger-Free Kids Act • Effective date: July 1, 2011 (SFY 12) • Objective: Ensure nonprogram activities are not subsidized by program revenues

  4. Program Activities All other activities are nonprogram

  5. Calculate Nonprogram Food Cost Include: NSLP, breakfast, FFVP, and after school snack

  6. Non-program food revenue tool Gather the following information: • Food costs of reimbursable meals • Food costs of non-program foods • Revenue from non-program foods • Total revenue

  7. SNP Report • Objective: To ensure that cash balance does not exceed three months’ operating costs

  8. “Opening Balance” will automatically populate from prior period’s report A positive number in “Excess Balance” means there is more than 3 months’ operating costs available

  9. Project Codes • Commodities – 201X • School breakfast – 203X • National school lunch – 205X • Special milk – 206X • Child and adult care food – 208X • Summer food – 209X • Nutrition education & training – 214X • Fresh fruits & vegetables – 215X • NSLP equipment, child nutrition – 225X

  10. Object Codes • 0630 – Food • Suggestion: • 0630N – Nonprogram food costs • 0630C – CACFP food costs • Or use some other character at the end of 0630 to segregate these costs • 0639 – Other • Use this for commodity fees to keep them separate from commodity food value

  11. Revenue Object Codes • May use 1620 as a summary code instead of breaking out into 1621-1629 • May use 1630 as a summary code instead of breaking out into 1631-1637

  12. Indirect Cost Issues • Use nonrestricted rate or a lesser rate • Apply the rate to salaries and benefits (excluding on-behalf payments) • Cannot treat something as a direct cost if it is also included in the indirect cost pool

  13. Indirect Cost Pool

  14. Indirect Cost Issues • If a cost is considered a direct cost to one federal program, it must be treated as a direct cost to ALL federal programs • Example: garbage removal • Example: maintenance personnel • Recommendation: make indirect cost entry monthly

  15. Other Issues • Administrative Review • Finance component will involve finance officers • Interest earned on food service funds – make entry monthly

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