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Myth Bu$ters

Myth Bu$ters. Budget Finance Module Questions. Sample Program. Admin Personnel $1,000 Operating $750 Instructional Personnel $2,000 Materials $500 Total $2,500 Equipment $500 Federal Supplement $500 Professional Dev. $0. Invoice Items.

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Myth Bu$ters

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  1. Myth Bu$ters Budget Finance Module Questions

  2. Sample Program • Admin Personnel $1,000 • Operating $750 • Instructional • Personnel $2,000 • Materials $500 Total $2,500 • Equipment $500 • Federal Supplement $500 • Professional Dev. $0

  3. Invoice Items • Salary for Prog. Dir. (July) $150 • Salary for 3 Teachers (July) $500 • A/C utility (June Bill) $25 • GED Ceremony Supplies $25 • Student Incentives $45 • Advertising for new class $50 • Attend mandatory PD Training $15 • Books for Math class $700

  4. Audit Common Findings from last audit: • Participant (student) files did not contain sufficient evidence to support attendance hours recorded in AERIN. • Purchased items in prior year with useful life greater than one year but not in Inventory. • Participant (student) scored above 11.9 on their initial assessments and do not appear eligible for adult education. • Variance between the Finance Module and programs accounting records. Result in disallowed costs.

  5. Finance Module • Remember that there are multiple steps at local level to submit budgets, amendment requests and invoices. • Inventory items don’t need to be entered each year to be reported each year. • We are going to be adding Performance Funds to the Finance Module and AO for those programs doing AO soon.

  6. Questions?

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