1 / 26

PUBLIC SCHOOL FINANCE UPDATE November, 2011

PUBLIC SCHOOL FINANCE UPDATE November, 2011. Leanne Emm Assistant Commissioner 303-866-6202 emm_l@cde.state.co.us. Accreditation Report & Financial Transparency Governor’s Budget Request. Agenda. Annual Audits, Accreditation Report & Financial Transparency. Annual Audits – June 30, 2011.

yaphet
Download Presentation

PUBLIC SCHOOL FINANCE UPDATE November, 2011

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. PUBLIC SCHOOL FINANCE UPDATENovember, 2011 Leanne Emm Assistant Commissioner 303-866-6202 emm_l@cde.state.co.us

  2. Accreditation Report & Financial Transparency Governor’s Budget Request Agenda

  3. Annual Audits, Accreditation Report & Financial Transparency

  4. Annual Audits – June 30, 2011 • Present to your Board of Education by November 30 • Postmarked audited financial statements & Accreditation Report • CDE and State Auditors Office by December 30 • ADE Submission by December 30 • Requests for extensions must be made before December 30

  5. Two new questions - Financial Transparency C.R.S. 22-44-301 through 304 Has the school district complied with all of the reporting requirements of the Public School Financial Transparency Act? Has the school district’s charter school(s) complied with all the reporting requirements of the Public School Financial Transparency Act? FY2010-11 Accreditation Report

  6. HB 10-1036 requires each “Local Education Provider” (LEP) to post financial information on-line, in a downloadable format, for free public access. LEP is defined as: A School District: A Board of Cooperative Services (BOCES); A Charter School Institute; A District Charter School; and An Institute Charter School. Financial Transparency

  7. Commencing July 1, 2010: District Adopted Budget for FY09-10 and FY10-11 District Financial Audit Quarterly Financial Statements Salary Schedules or Policies Additionally Commencing July 1, 2011: Accounts Payable Check Registers Credit, Debit and Purchase Card Statements Financial Transparency

  8. Additionally Commencing July 1, 2012: Investment Performance Reports Personal information relating to payroll, including but not limited to payroll deductions or contributions, or any other information that is confidential or otherwise protected from public disclosure is not required to be posted. Financial Transparency

  9. Available online and updated within sixty days after the completion or receipt of the applicable report, statement, or document Maintain the prior two budget years’ financial information on-line until the end of the current budget year CDE Website – template as prescribed by HB 10-1036 http://www.cde.state.co.us/cdefinance/sfFinancialTransparency.htm Financial Transparency

  10. Governor’s Budget Request2012-13

  11. AssumptionsFY2012-13 Budget Request Late February 2012 – actual inflation

  12. AssumptionsFY2012-13 Budget Request • Preliminary assessed values from counties indicate original decline anticipated for FY 2011-12 is not as high • Anticipated decline of 7.21% • Preliminary August AVs – decline of 5.28% • Potential increase in local share of $35.4 million for 2011-12 • For 2012-13, estimated growth in local share of $20.6 million

  13. AssumptionsFY2012-13 Budget Request • $67.5 million through SB11-230 • For FY2011-12, intent to be used for mid-year changes in enrollment or assessed values • Request for FY2012-13 utilizes these funds to offset any needed increases in negative factor

  14. FY2012-13 Budget Request

  15. FY2012-13 Budget Request

  16. FY2012-13 Budget Request

  17. The actual funded Total Program has declined 8.26% from the high in 2009-10. Gap represents negative factor of 18.04%

  18. FY2012-13 Budget Request

  19. 2011-12 Appropriated Total Program Funding by Component, With and Without Negative Factor

  20. General Planning • Recommended to review Property Tax Collections • Is your percentage of collections remaining strong? • Is it declining or increasing? Delinquencies? • Remember – the State assumes 100% collections when setting Total Program • If you have less than 100% - your budget should reflect this • Pupil Enrollment

  21. Upcoming • Pupil Counts and Assessed Values • Finalized in December • Mill Levies & any adjustments to AVs • January/February • Supplemental Budget Request Submitted based revised counts, AVs, mills • February

  22. Financial Policies and Procedures Handbook Update Webinar Wednesday, November 16 – 10:00 Thursday, December 8 – 2:00 BEST Program Thursday, November 17 – 10:30 Upcoming Training Sessions

  23. Questions?

More Related