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Local Finance Update

Local Finance Update. Spring Fiscal Workshops 2012 Paris Landing April 18 - 20 Fall Creek Falls April 25 - 27 Gatlinburg May 2 - 4 Pickwick Landing May 9 -11. From Here to June 30. New Account Codes School Climate Grant – Fund142 sub fund 420 “Safe and Supportive Schools”

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Local Finance Update

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  1. Local Finance Update Spring Fiscal Workshops 2012 Paris Landing April 18 - 20 Fall Creek Falls April 25 - 27 Gatlinburg May 2 - 4 Pickwick Landing May 9 -11

  2. From Here to June 30 • New Account Codes • School Climate Grant – Fund142 sub fund 420 “Safe and Supportive Schools” • College Access Grant – Fund142 sub fund 780 “College Access and Success Network Grants” • Bonus Payments – object code 188

  3. From Here to June 30 • Commodity Reporting – Centralized • Revenue – 47112 USDA - Commodities • Expenditures – 73100-469 USDA – Commodities • Value of commodities received only – processing and transportation expensed separately • Budget amendment and journal entries will be necessary to record commodities • No separate report in eReporting required

  4. From Here to June 30 • Commodity Reporting – Non-Centralized • Reported on AFR Non-Centralized Cafeteria Report • Separate line item on report – 84100 • Commodity Report will be eliminated from eReporting

  5. From Here to June 30 • 1512 Reporting • Here to stay with Education Jobs, FTTT, College Access Grants, NCLB ARRA (extended) • Quarterly jobs and expenditure reports • Check 100% box ONLY when total allocation has been expended (funds spent and requested via FACTS)

  6. From Here to June 30 • 1512 Reporting (continued) • Reminders when and to whom reports are due sent quarterly via list serve • Ed Jobs – Brenda Pursley • FTTT Scopes of Work – Cindy Robinson • FTTT Competitive – Eve Carney • NCLB – Eve Carney

  7. From Here to June 30 • Education Jobs Funds • Salaries and benefits only • Try to expend by June 30 • Drop dead date September 30, 2012

  8. Growth Funds Where did they go?

  9. Growth Funds • $31 million available for growth in FY12 • To fund 100% growth - $41 million • .6% growth – magic number • Statewide growth averaged .73% • TN Virtual Academy - Union County • Union County estimated growth of 52% (1,860) • 33% of students formerly home-schooled • Will be recalculated in June for final payment

  10. Year End Information • BEP Reserve • Equity account number – 34555 Restricted for Education with a cost center (e.g. BEP) • Should be amount from MOE test if actual local revenues are less than budgeted • May be cumulative • Other reserves designated as BEP should be reclassified (assigned, committed, etc.) • Send Trial Balance to Brenda Pursley with a comment re: adjustment

  11. Year End Information • Career Ladder Report • Affects Career Ladder payments • On eReporting • Be sure beginning reserve is properly reflected • Adjust beginning reserve in eReporting AFR if necessary

  12. Year End Information • Career Ladder Reserve • 34560 Restricted for Instruction • 34380 is no longer used – journal entry to 34560 if necessary • Journal entry any other amounts that may have been classified in 34560 by audit adjustment – reclassify to other accounts • Impacts Career Ladder payments for next year – be accurate • Reserve amount pulls into Career Ladder report in eReporting

  13. Year End Information • Reserve for Deferred Compensation • Use 34655 (Committed for Education) with cost center (e.g. DEF) • Primarily for those with alternative pay plans • Requires Board action prior to June 30

  14. Year End Information • Reserve for Extended Contract • State funds in FY12 • Must track revenues and expenditures • Report due to Kimberly Jackson • Use 34555 (Restricted for Education) with cost center (e.g. EXT)

  15. Year End Information • Textbook Reserves • Purchase of textbooks may be deferred until textbooks are aligned with Common Core Standards • Equity Account 34760 - Assigned for Instruction • Funds set aside for textbook purchase in future year • Board should authorize Director of Schools to make assignment prior to June 30

  16. Year End Information • Old ARRA Accounts • Gone forever (or at least for now!) • Coordinated School Health - ARRA 46591 • Internet Connectivity - ARRA 46592 • Professional Development - ARRA 46593 • Family Resource Center - ARRA 46594 • SSMS – ARRA 46595 • All under 46590 in FY12 and beyond

  17. Year End Information • Pre-K Program • Paper expenditure report required • Must go on FACTS to request funds • Substantial funds unspent at year end FY11

  18. Year End Information • Federal Projects • Payout of accrued leave must be from General Purpose – NOT Federal Project • EDGAR requirement • Talk with Federal Projects Directors to plan • May need to amend GP budget

  19. Budget FY13 Update • DOE Budget $5.2 billion (before improvements) • $3.88 billion – BEP • $1.32 billion – all other programs, expenses • $1 billion – federal funds • 96% - flow through to LEAs • 934 Pre-K classrooms – no increase in number of classrooms

  20. Budget FY13 Update • No major changes to BEP formula • Unit costs – no increase • Capital outlay • TCA 49-3-351(a)(4) • Eliminates inflationary growth from 2010 • Cost to re-instate $34,427,000 • Health Insurance • Funded at 10 months • Cost to fund additional 2 months $56,796,000 • 9% health insurance increase projected effective 1-1-13

  21. Budget FY13 Update • Salary Increase • 2.5% proposed in governor’s budget • BEP instructional salary component adjusted • Will be added to state minimum salary schedule by State Board of Education if approved by Legislature • Must be passed along to all certified personnel pursuant to the LEA’s approved salary schedule • Applied to state portion of salary

  22. Budget FY13 Update • Core Services • $63.6 Million FY12 • Non-recurring • $48.4 Million FY 13 • $38 Million recurring • $10.4 Million non-recurring

  23. Budget FY13 Update

  24. Budget FY13 Update

  25. Other Information • Annual Statistical Report • Website www.tn.gov/education/reports_data.shtml • 51 tables • Listing of all schools • Salary data • ADA, ADM • Revenues • Expenditures by function • Per pupil expenditures • PDF and Excel formats

  26. Other Information • Per Pupil Expenditures – Report Card • Includes: • ALL GP, Federal, School Nutrition expenditures from 71100 – 73100 • Non-centralized cafeteria expenditures • Payments by other agencies • Commodities • State administration (cost of DOE)

  27. Per Pupil Calculation • Subtract • Adult Education (71600 & 72260) • Student Body Education (71400) • Non-centralized payments to Central Office (84000) • Non-centralized Payments to Schools (73100-342 through 73100-345) • Based on ADA !

  28. Who do you call? • Executive Director • Maryanne Durski • 615.532.9510 • Director of Local Disbursements • Spencer Yonce • 615.532.4718

  29. LEA Support Services • Local Finance • Brenda Pursley 615.532.2838 • Karen Weidemann Justice 615.532.1662 • Kim Miller 615.741.8835 • Local Disbursements • Debbie Dungan, 615.532.1657

  30. Fiscal Consultants • Ron Adelman 615.306.4062 • Jackie Broyles 615.306.7429 • Brad Davis 615.308.3616 • Carol Newton 615.306.7974 • Bobby Palmer 615.308.1592 • Malinda White 615.969.9352

  31. QUESTIONS?

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