Transcript The New IPAM and AFR Rules and Regulations

The New IPAM and AFR
Rules and Regulations
Presenters:
Illinois State Board of Education
Miller Cooper
PMA Financial, Inc.
March 10, 2008
Overview





Over past five years, ISBE and various sub-committees have
reviewed and considered updates to the Illinois Program
Accounting Manual (IPAM).
Changes included consistency with Federal accounting manuals,
updates to GAAP accounting standards, and changes to various
local laws.
Changes were provided for review to IASBO, IASA, IASB, etc.
During 2006, changes to IPAM and subsequent changes to
Accounting Rules were provided to JCAR for review and public
comment.
Changes were adopted by JCAR effective with FY2009 BUDGET
and AFR financial reporting periods.
Illinois Program Accounting Manual



Basis for school district accounting, budgeting and
reporting
Consistency with federal accounting program
manuals and account codes
IPAM Rules

Found at ISBE’s website – under “RULES CURRENTLY IN
EFFECT”


http://www.isbe.net/rules/archive/default.htm
IPAM Chart of Accounts/Manual

Found at ISBE’s website – under “SCHOOL BUSINESS
SERVICES – PUBLICATIONS”

http://www.isbe.net/sfms/pdf/ipam.pdf
http://www.isbe.net
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SPRINGFIELD — The Illinois State Board of Education
(ISBE) announced today that more than 340 teachers
in 26 districts statewide will be participating in a series
of in-depth, online courses focused on bringing
technology into the classroom. The classes, which
begin in January, are an integral part of the Illinois
Enhancing Education Through Technology (EETT) grant
program, which aims to improve access to technology
and to provide technology integration training to
teachers and students in the state.
“The explosion in technological development means
that we are trying to prepare many of today’s students
for future careers. That’s why integrating technology
into the classroom is important,” said State
Superintendent Christopher A. Koch. “Our students
need to be technologically literate in order to be
successful in and beyond the classroom. That
foundation starts with our teachers and these courses
are valuable tools for their professional development.”
The federal EETT grant will help districts train teachers
on how to mix advanced technology with everyday
classroom learning. The grant also funds ongoing
professional development that focuses on new trends
in the technology arena. The primary goal is to help
teachers grow, and in turn, improve student
achievement.
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The online education courses are available through
School Improvement
23 Illinois Administrative Code–Section 100


Changes Effective July 1, 2009
Contains updated account code tables

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Table A – Classification of Funds
Table B – Balance Sheet Accounts
Table C – Revenue Accounts
Table D – Expenditure Accounts
Table E – Sources/Uses Accounts; Miscellaneous
Table F – Expenditure Object Accounts
RULE CHANGES

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
Rule Changes discussed today are found in 23 Illinois
Administrative Code 100.
Rules for Code Sections 110 and 125 will be obsolete effective
July 1, 2008.
New requirement for “Accounting, Budgeting, Financial Reporting,
and Auditing”
 Currently found under “Proposed New Part 100” on the website.
IPAM
 Currently found under “Amendment to Part 110”
 Part 110 is replaced by changes in Part 100 effective July 1, 2008.
Student Activity Funds
 Currently found under “Amendment to Part 125”
 Part 125 is merged into Part 100 effective July 1, 2008.
State Reporting Requirements For
Account Codes
Revenue
Expenditure
Fund
XX
Fund
XX
Account – “Source”
XXXX
(xxxx)
Function
XXXX
Object
Xxx
Additional Coding at Local Discretion - Examples:
- Transaction Type
X
NOTE:
- Fiscal Year
XX
The red “x’s” are additional optional account
- Balance Sheet
XXX
- Salary Type
XXX
code spaces that ISBE is recognizing in the
IPAM account code structure. Account and
“Source” are used interchangeably
School District Annual Budget
ILLINOIS STATE BOARD OF EDUCATION
School Business and Support Services Division
100 North First Street
Springfield, Illinois 62777-0001
Accounting Basis:
Cash
SCHOOL DISTRICT BUDGET FORM *
July 1, 2007 - June 30, 2008
Accrual
Submit budget (as adopted) on ISBE Form 50-36 to:
www.isbe.net/sfms/budget/2008/budget.htm
District Name:
District RCDT No:
County:
Budget of
School District No.
State of Illinois, for the Fiscal Year beginning
July 1, 2007
, of
, County
WHEREAS the Board of Education of
,
County of
,
June 30, 2008
and ending
.
,
School District No .
State of Illinois, caused to be prepared in tentative form a budget, and the Secretary
of this Board has made the same conveniently available to public inspection for at least thirty days prior to final action thereon;
day of
AND WHEREAS a public hearing was held as to such budget on the
,
20
notice of said hearing was given at least thirty days prior thereto as required by law, and all other legal requirements have been complied
with;
NOW, THEREFORE, Be it resolved by the Board of Education of said district as follows:
Section 1: That the fiscal year of this School District be and the same hereby is fixed and declared to be
beginning
July 1, 2007
and ending
June 30, 2008
.
Section 2: That the following budget containing an estimate of amounts available in each Fund, separately, and expenditures from
each be and the same is hereby adopted as the budget of this school district for said fiscal year.
ADOPTION OF BUDGET
The Budget shall be approved and signed below by Members of the School Board.
day of
, 20
by a roll call vote of
Adopted this
Yeas, and
Nays, to wit:
Note: The electronic version does not require member signatures.
MEMBERS VOTING YEA:
MEMBERS VOTING NAY:
** Based on the Illinois Program Accounting Manual for Local Education Agencies (LEAs) as required by Section 17-1 of the School
Code. A certified copy of this document must be filed with the county clerk within 30 days of adoption as required by Section 18-50
of the Property Tax Code (35 ILCS 200/18-50).
ISBE 50-36 (5/2007)
SB08
,
Cover Page
Form 50-36
School District Annual Budget

Current Budget Provisions
 Adopted by September 30th
 Submitted electronically to ISBE
 Required to be “BALANCED” within 3 years of the initial
“UNBALANCED” budget



School Code, Section 17-1
These changes were adopted effective FY2007 financial cycle.
FY2008 Budget Forms are available on ISEB website


FY07 and FY08 Budget Documents are stored in archived files by
RCDT #’s.


http://www.isbe.net/sfms/budget/2008/budget.htm
ftp://ftpfinance.isbe.net/SDB/
New Budget Provisions
 Effective FY2009 finance cycle beginning July 1, 2008.
 New FY2009 Budget and AFR documents will be available on the
ISBE website in Spring 2008.
Illinois School District Budget Format

Budget Summary





Estimated Fund Balance (at beginning of Fiscal Period)
Receipts / Revenues
Disbursements / Expenditures
Line 18 – Excess of Direct Receipts/Revenues Over (Under) Direct
Disbursements/Expenditures
Other Financing Sources (7000)

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
Other Finances Uses (8000)

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Transfers to Other Funds
Estimated Fund Balance (at end of Fiscal Period)
Summary of Cash Transactions


Transfers from Other Funds
Sale of Bonds
Estimated Balances on Hand (beginning of Fiscal Period)
Receipts
Disbursements
Estimated Balances on Hand (end of Fiscal Period)
Estimated Receipts/Revenues
Estimated Disbursements/Expenditures
Deficit Budget Information
Estimated Limitation of Administrative Costs
Reporting of Public Vendor Contracts of $1,000 or More
QUESTIONS?
School District Annual Budget
0
Original Budget
Amended Budget
Date:
(MM/DD/YY)
[See page 31 for references]
(10)
Acct
#
Description
1.
Educational
(20)
(30)
(40)
(50)
Operations &
Maintenance
Bond & Interest
Transportation
Municipal
Retirement/
Social Security
(60)
Site &
Construction/
Capital
Improvement
(70)
(80)
Working Cash
Rent
ESTIMATED FUND BALANCE July 1, 2007
RECEIPTS/REVENUES
2.
3.
LOCAL SOURCES
FLOW-THROUGH RECEIPTS/REVENUES FROM ONE LEA
TO ANOTHER LEA
4.
STATE SOURCES
5.
FEDERAL SOURCES
6.
7.
8.
1000
2000
3000
4000
Total Direct Receipts/Revenues
Receipts/Revenues for "On Behalf of" Payments
Total Receipts/Revenues
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3998
2
DISBURSEMENTS/EXPENDITURES
9.
INSTRUCTION
1000
10.
SUPPORT SERVICES
2000
11.
COMMUNITY SERVICES
3000
12.
NONPROGRAMMED CHARGES
4000
13.
DEBT SERVICES
5000
14.
PROVISION FOR CONTINGENCIES
6000
15.
16.
Total Direct Disbursements/Expenditures
Disbursements/Expenditures for "On Behalf of"
4180
17.
18.
Payments
Total Disbursements/Expenditures
Excess of Direct Receipts/Revenues Over (Under) Direct
Disbursements/Expenditures
2
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
OTHER FINANCING SOURCES (USES)
OTHER FINANCING SOURCES (7000)
TRANSFER FROM OTHER FUNDS (7100)
19. Permanent Transfer from Working Cash Fund - Abolishment
(Section 20-8)
20. Permanent Transfer from Working Cash Fund - Interest
(Section 20-5)
7110
7120
21.
Permanent Transfer (Section 17-2A)
7130
22.
23.
Permanent Transfer of Interest (Section 10-22.44)
7140
7150
24.
Permanent Transfer from Site and Construction/Capital
Improvement Fund (Section 10-22.14)
Perm. Transfer of Excess Accumulated Fire Prev. & Safety
25.
Tax Proceeds & Int. Earnings (Sec. 17-2.11)
Perm. Transfer of Excess Accumulated Fire Prev. & Safety
7160
3
26.
Bond Proceeds and Int. Earnings (Sec. 10-22.14)
Permanent Transfer from Working Cash Fund Abatement (Section 20-9)
7180
SALE OF BONDS (7200)
27.
28.
29.
30.
7170
3
7200
Principal on Bonds Sold (Amount of Original Issue)
Premium on Bonds Sold
Accrued Interest on Bonds Sold
5
4
7210
7220
7230
7300
vvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvv
Sale or Compensation for Fixed Assets
(Section 2-3.12 and 17-2.11)
0
Budget
Summary
(Pages 2 & 3)
Major Rule Changes Effective FY2009




Eliminates “Rent Fund” (Currently Fund 80)
Creates NEW “TORT
IMMUNITY/JUDGEMENT FUND” (New Fund
80)
Renames “Bond & Interest Fund” (Fund 30)
to “DEBT SERVICE FUND”
Renames “Site & Construction Fund/Capital
Improvement Fund” (Fund 60) to “CAPITAL
PROJECTS FUND”

There is no ISBE threshold requirement for
“Capital Projects”.
Major Rule Changes


Expands 7000 & 8000 Accounts (Other
Finance Sources/Uses) to address pledged
transfers for the “Debt Service Fund” and
“Capital Projects Fund”
Adds (new) 9000 Accounts for resources
such as “E-Rate Transactions”, Donated
Food Commodities”, “State Textbook Loan
Program”, and “QZAB Tax Credits”
Capital Projects Fund or Fund Group





Renamed from the “old” Site & Construction Fund.
“This fund or fund group is required to account for proceeds resulting from each bond
issue, receipts from other long term financing agreements (including impact fee
agreements), or construction or maintenance grants used to finance a capital project,
capital lease, lease purchase agreement, or if a tax is levied in accordance with Section
17-2.3 of the School code.”
If you have a capital project with a dedicated funding source, especially anything
where debt was used as the funding source, then it should be accounted in this fund.
ISBE does not have a requirement as to a “capital projects” threshold dollar amount.
Examples:

District A issues $150,000 Debt Certificate for a Repair Project at one of their school buildings.




District B receives $600,000 in Impact Fees from their local builder to be used for capital projects at
their local school.




Credit Fund 60 – Capital Projects Fund the $150,000.
Expenditures should be accounted for in Fund 60 for the project.
When the project is complete, if there are remaining dollars in Fund 60 (Capital Projects) and the District
wishes to transfer the remaining dollars back to an operating fund (O&M), then the District would
transfer from Fund 60 to Fund 20 via account #7150. The Fund 20 would reflect the transfer in account
#8150.
Credit Fund 60 – Capital Projects Fund the $600,000
Expenditures should be accounted for in Fund 60 for any projects the District would begin using those
funds.
As a recommendation, during the Fiscal 2008 Audit, District’s should request that Auditors
establish the opening fund balances for the Capital Projects Fund.
NOTE: Any such transactions for pupil transportation such as leasing of buses must be
reflected in the Transportation Fund so State Funding is not impeded.
Debt Service Fund or Fund Group






Replaces the “old” Bond & Interest Fund
“This fund or fund group is required if taxes are levied to retire bond
principal, or to pay bond interest, or if other revenue is pledge to pay
principal, interest, or service charges on other long-term debt
instruments. “
Revenue may be required to be transferred in from other funds to make
long term debt payments. (I.e. – Other Sources/Uses – Account 8430
transfers revenue from one fund to pay for principal on capital leases)
The Debt Service Fund will allow for debt service “expenditures” via 5300
accounts.
As previously stated, School District should work with their auditors to
develop opening fund balance positions in this fund.
Example:

District A, that issued a $150,000 Debt Certificate for a Repair Project, and
credited Fund 60 with the Proceeds, needs to make the principal payment on the
Debt Certificate. The District intends to use operating dollars from the O & M
Fund to pay for the Debt Certificates.


District transfers dollars from Fund 20 (O&M) to Fund 30 (Debt Service) via account #
8400 (Funds for Principal Payments) and 8500 (Funds for Interest Payments). Fund 30
(Debt Service) would reflect the transfer of dollars in account # 7410 (Transfers from
Other Funds to Pay Principal on Capital Leases) and 7510 (Transfers from Other Funds
to Pay Interest On Capital Leases).
District makes principal and interest payments from Fund 30 (Debt Service) via account
#5270 (Interest Payments) and 5370 (Principal Payments)
Tort Immunity and Judgment Fund





Replaces old “Rent Fund”
New name and purpose for Fund 80!
“This fund is required if taxes are levied or bonds are sold for tort
immunity or tort judgment purposes.”
As previously stated, Districts should review with their auditors
the effect of transferring existing balances established for “tort
purposes” into the newly created “Tort Immunity Fund”.
Example:
 Revenues from Tort Levy can be directly accounted for in Fund
80.
 Expenditures can be accounted for through account number 2360
– 2372
 Balances in Fund 80 should be established with assistance from
District’s auditors.
QUESTIONS?
School District Budget Changes
Acct
#
Description
1.
2.
(20)
Educational
Operations &
Maintenance
(30)
(40)
(50)
Municipal
Bond & Interest Transportation
Retirement/
Social Security
(60)
Site &
Construction/
Capital
Improvement
(70)
Working Cash
(80)
(90)
Rent
Fire Prevention
& Safety
101-5
180
ESTIMATED BALANCE ON HAND July 1, 2007
(Cash Plus Investments at Cost)
Total Direct Receipts & Other Financing Sources
(Total from Budget Summary, Lines 6 & 33)
(10)
8
0
0
0
0
0
0
0
0
0
OTHER RECEIPTS
3.
Loans from Other Funds
430
4.
5.
Loan Repayments from Other Funds
Corporate Personal Property Tax Replacement Tax
Anticipation Notes
150
406
6.
Tax Anticipation Warrants Issued
407
7.
Tax Anticipation Notes Issued
408
8.
Teachers'/Employees' Orders Issued
409
9.
State Aid Anticipation Certificates Issued
410
10. Other (Attach Itemization)
(Page 4)
499
11.
12.
Total Other Receipts (Total Lines 3-10)
Total Direct Receipts, Other Financing Sources, & Other
Receipts (Total Lines 2 & 11)
13.
14.
Total Amount Available (Total Lines 1 & 12)
Total Direct Disbursements & Other Financing Uses
(Total from Budget Summary, Lines 15 & 43)
Cash
Summary
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
9
OTHER DISBURSEMENTS
15. Loans to Other Funds 10
16. Loan Repayments to Other Funds
17. Corporate Personal Property Replacement Tax Anticipation
Notes Redeemed
150
18. Tax Anticipation Warrants Redeemed
407
19. Tax Anticipation Notes Redeemed
408
20. Teachers'/Employees' Orders Redeemed
409
21. State Aid Anticipation Certificates Redeemed
410
22. Other (Attach Itemization)
499
430
406
23.
24.
Total Other Disbursements (Total Lines 15-22)
0
0
0
0
0
0
0
0
0
Total Direct Disbursements, Other Financing Uses, & Other
Disbursements (Total Lines 14 & 23)
0
0
0
0
0
0
0
0
0
25.
ESTIMATED BALANCE ON HAND June 30, 2008
(Cash Plus Investments at Cost) (Total Line 13
less line 24)
0
0
0
0
0
0
0
0
0
Reclassifies:
Interfund Loans;
Notes and Warrants
School District Budget Changes
(10)
Acct
#
Description
RECEIPTS/REVENUES FROM LOCAL SOURCES
(20)
(30)
Operations &
Maintenance
Educational
(40)
(50)
Bond & Interest Transportation
Municipal
Retirement/
Social Security
(60)
Site &
Construction/
Capital
Improvement
(70)
(80)
(90)
Working Cash
Rent
Fire Prevention
& Safety
Estimated
Revenues
1000
AD VALOREM TAXES LEVIED BY LOCAL EDUCATION AGENCY
11
1.
General Levy
2.
Tort Immunity Levy
3.
Leasing Levy
4.
Special Education Levy
1140
5.
Social Security/Medicare-Only Levy
1150
6.
Area Vocational Construction Levy
1160
7.
Summer School Levy
1170
8.
Other Tax Levies (Describe & Itemize)
1190
9.
1110
1120
12
1130
Total Ad Valorem Taxes Levied by LEA
(Pages 5 -10)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
PAYMENTS IN LIEU OF TAXES
10. Mobile Home Privilege Tax
1210
11. Payments from Local Housing Authority
12. Corporate Personal Property Replacement Taxes
1220
13
13. Other Payments in Lieu of Taxes (Describe & Itemize)
14.
1230
1290
Total Payments in Lieu of Taxes
TUITION
15. Regular Tuition from Pupils or Parents
1311
16. Regular Tuition from Other LEAs
1312
17. Regular Tuition from Other Sources
1313
18. Summer School Tuition from Pupils or Parents
1321
19. Summer School Tuition from Other LEAs
1322
20. Summer School Tuition from Other Sources
1323
21. Vocational Tuition from Pupils or Parents
1331
22. Vocational Tuition from Other LEAs
1332
23. Vocational Tuition from Other Sources
1333
24. Special Education Tuition from Pupils or Parents
1341
25. Special Education Tuition from Other LEAs
1342
26. Special Education Tuition from Other Sources
1343
27. Adult Tuition from Pupils or Parents
1351
28. Adult Tuition from Other LEAs
1352
29. Adult Tuition from Other Sources
1353
Total Tuition
Acc’t
Local
1000s
Flow-Through 2000s
vvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvv
30.
Funding
0
State
3000s
Federal
4000s
Additional Account Codes In Revenue
Section

Adds “Local” Revenue accounts




Impact Fees (Acct 1930)
TIF Payments (Acct 1960)
Driver Education Fees (Acct 1970)
Vendor Contract Proceeds (Acct 1980)
School District Budget Changes
(10)
Description
Funct
#
(20)
Employee
Benefits
Salaries
(30)
Purchased
Services
(40)
Supplies &
Materials
(50)
(60)
(70)
(80)
Capital Outlay
Other Objects
Transfers
Tuition
Estimated
Expenditures
10 - EDUCATIONAL FUND (ED)
INSTRUCTION (ED)
1000
1.
Regular Programs
1100
2.
Special Education Programs (Function 1200-1220)
1200
3.
Educationally Deprived/Remedial Programs
1250
4.
Adult/Continuing Education Programs
1300
5.
Vocational Programs
1400
6.
Interscholastic Programs
1500
7.
Summer School Programs
1600
8.
Gifted Programs
1650
9.
Bilingual Programs
10.
Truant Alternative & Optional Programs
11.
Total Instruction
SUPPORT SERVICES (ED)
1800
1900
14
0
2100
12.
Attendance & Social Work Services
2110
13.
Guidance Services
2120
14.
Health Services
2130
15.
Psychological Services
16.
Speech Pathology & Audiology Services
2140
2150
17.
Other Support Services - Pupils (Describe & Itemize)
2190
Total Support Services - Pupil
Support Services - Instructional Staff
2200
19.
Improvement of Instruction Services
2210
20.
Educational Media Services
2220
21.
Assessment & Testing
2230
22.
Total Support Services - Instructional Staff
Support Services - General Administration
2300
23.
Board of Education Services
2310
24.
Executive Administration Services
2320
25.
Special Area Administration Services
2330
26.
Total Support Services - General Administration
Support Services - School Administration
2400
27.
28.
2410
2490
29.
Office of the Principal Services
Other Support Services - School Administration
(Describe & Itemize)
0
0
0
0
0
0
2000
Support Services - Pupil
18.
(Pages 11 - 19)
Total Support Services - School Administration
Support Services - Business
2500
30.
Direction of Business Support Services
2510
31.
Fiscal Services
2520
32.
Operation & Maintenance of Plant Services
2540
33.
Pupil Transportation Services
2550
34.
Food Services
2560
35.
Internal Services
2570
Instruction 1000s
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Total Support Services - Business
Support Services 2000s
Community Serv. 3000s
**Nonprogram. Chgs.
4000s
Debt Serv. 5000s
Contingencies 6000s
vvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvv
36.
Functions Acc’t
0
0
0
0
0
0
* Renamed “Payments to LEAs
and Governmental Units”
Additional Accounts Added To
Expenditure Functions

Instruction (1000 Accounts)

New Accounts




Pre-K (Account 1125)
Driver Education (Account 1700)
Tuition Payments to PRIVATE Entities (Accts within 1900)
Support Services (2000 Accounts)

New Accounts


Expands 2300 accounts to include Tort Immunity / Judgement
Fund expenditures (examples 2360 Tort Immunity Functions,
2362 Workers’ Compensation Payments, 2364 Insurance
Payments)
Renames 4000 Accounts (Nonprogrammed Charges) to
“Payments to Other LEAS and Governmental Units” for
payments to LEAS for Tuition and Transfers expenditures.
Additional Accounts Added To
Expenditure Functions


Expands 5000 Accounts (Debt Service) to identify
the Principal and Interest payments on various
“Long Term” and “Short Term” debt
Reclassifies the Object Dimensions 700 (Transfers)
and 800 (Tuition) within the 600 Series (Other
Objects) in combination with new function codes.


The existing 700 Object (Transfers) and the 800 Object
(Tuition) are combined in a new 600 Object. The new 600
Object will have new function codes to identify – transfers,
tutition etc.)
Adds other object classes for “Non-Capitalized
Equipment” (700) and “Termination Benefits” (800)
Non-Capitalized Equipment




Establishes the 700 Expenditure Object Account for purposes of “Noncapitalized Equipment”
This replaces the old “Transfers” Object 700.
“Items that would be classified as capital assets except that they cost less
than the capitalization threshold (that a District has established) but more
than the $500 minimum value established for purposes of calculating per
capita cost pursuant to Section 18-3 of the School code.”
Example:
 District purchases 25 new computers for their “tech lab”. The computers
are $1,000.00 each. The District’s capitalization threshold is $5,000.00.
The District accounts for each individual computer from an accounting
standpoint.


The District books the $25,000.00 expenditure in the Education Fund (10) in
Function 1100 – Regular Program, Object 700 –Non-Capitalized Equipment.
If the District above had a $1,000.00 capitalization threshold, then the
District would book the expenditure into the 600 Object series.
QUESTIONS?
School District Annual Budget
0
--DEFICIT BUDGET SUMMARY INFORMATION
OPERATING FUNDS ONLY
OPERATIONS &
MAINTENANCE
EDUCATIONAL
TRANSPORTATION
WORKING CASH
TOTAL
1. Direct Revenues
0
0
0
2. Direct Expenditures
0
0
0
0
0
0
0
0
0
0
0
0
0
3.
Difference
4. Estimated Fund Balance - June 30, 2008
0
0
0
Balanced Budget, no deficit reduction plan is required.
Deficit
Budget
Summary
(Page 21)
* A deficit reduction plan is required if the local board of education adopts (or amends) the 2007-08 school district budget in which the “operating funds”
listed above result in direct revenues (line 1) being less than direct expenditures (line 2) by an amount equal to or greater than one-third (1/3) of the
ending fund balance (line 4).
Note: The balance is determined using only the four funds listed above. That is, if the estimated ending fund balance is less than three times the
deficit spending, the district must adopt and file with ISBE a deficit reduction plan to balance the shortfall within three years.
“Operating Funds”
The deficit reduction plan, if required, is developed using ISBE guidelines and format (See Tab FinPlan 2008-11).
• Educational
• O&M
• Transportation
• Working Cash
School District Annual Budget
Deficit Budget
Plan
-District Number
ESTIMATED BUDGET
FY2007-08
0
District Name
0
County
Operations &
Maintenance Fund
Educational Fund
Transportation Fund
Working Cash Fund
Total
1. ESTIMATED BEGINNING FUND BALANCES
(must equal prior Ending Fund Balance)
0
0
0
0
0
0
0
0
0
0
3000
0
0
0
0
0
0
0
0
0
4000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Total Disbursements/Expenditures
0
0
0
Excess of Receipts/Revenue Over/(Under)
Disbursements/Expenditures
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
RECEIPTS/REVENUES
2. Local Sources
3. Flow-through Receipts/Revenue from One LEA to
Another LEA
4. State Sources
5. Federal Sources
6.
Acct
No.
1000
2000
Total Receipts/Revenues
DISBURSEMENTS/EXPENDITURES
Funct
No.
7. Instruction
1000
8. Support Services
2000
9. Community Services
3000
10. Nonprogrammed Charges
4000
11. Debt Services
5000
12. Provisions for Contingencies
6000
13.
14.
0
0
0
0
0
0
0
OTHER FINANCING SOURCES
15. Transfers from Other Funds
7100
16. Sale of Bonds
7200
17. Sale or Compensation for Fixed Assets
7300
18. School Technology Revolving Loan Program
7500
19. Other Sources
7900
20.
Total Other Financing Sources
OTHER FINANCING USES
21. Transfers to Other Funds
8100
0
0
0
22. Other Uses
8190
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
23.
24.
25.
Total Other Financing Uses
TOTAL OTHER FINANCING SOURCES AND (USES)
(Line 20 minus Line 23)
ESTIMATED ENDING FUND BALANCE
(Total of Lines 1, 14, 24)
0
(Pages 22-28)
QUESTIONS?
School District Annual Budget
Administrative
Costs
ESTIMATED LIMITATION OF ADMINISTRATIVE COSTS
(For Local Use Only)
This is an estimated Limitation of Administrative Costs Worksheet only. It is intended for use during the budgeting
process to estimate the district's percent increase of FY2008 budgeted expenditures over FY2007 actual expenditures.
Budget information is copied to this page. Insert the prior year estimated actual expenditures to compute the estimated
percentage increase (decrease).
The official Limitation of Administrative Costs Worksheet is attached to the end of the Annual
Financial Report (ISBE Form 50-35) and may be submitted in conjunction with that report.
An official Limitation of Administrative Costs Worksheet can also be found on the ISBE
website at www.isbe.net/sfms/AdminCaps/AdminCaps.htm .
ESTIMATED LIMITATION OF ADMINISTRATIVE COSTS
WORKSHEET
(Section 17-1.5 of the School Code)
Estimated Actual Expenditures, Fiscal Year 2007
(10)
Description
Funct.
No.
(20)
Operations &
Maintenance
Educational
School District Name:
RCDT Number:
0
00-000-0000-00
Budgeted Expenditures, Fiscal Year 2008
(10)
Total
(20)
Operations &
Maintenance
Educational
Total
1. Executive Administration Services
2320
0
0
0
2. Special Area Administration Services
2330
0
0
0
3. Other Support Services - School
Administration
2490
0
0
4. Direction of Business Support Services
2510
0
0
5. Internal Services
2570
0
0
6. Direction of Central Support Services
2610
0
0
7. Deduct - Early Retirement or Other Pension
Obligations Included Above
8.
9.
Totals
Estimated Percent Increase (Decrease) for
FY2008 (Budgeted) over FY2007 (Actual)
0
0
0
0
0
0
0
0
0
0
0
(Page 29)
0
0
Enter Actual Data!
- Estimate of
FY08 Budgeted
Expenditures
Compared to
FY07 Actual
Expenditures
Questions?
School District Annual Budget
REPORTING OF PUBLIC VENDOR CONTRACTS OF $1,000 OR MORE
In accordance with the School Code, Section 10-20.21, all school districts are required to file a report listing ‘vendor contracts’ as an attachment to their budget. In this context, the term "vendor contracts"
refers to "all contracts and agreements that pertain to goods and services that were intended to generate additional revenue and other remunerations for the school district in excess of $1,000, including
without limitation vending machine contracts, sports and other attire, class rings, and photographic services. The report is to list information regarding such contracts for the fiscal year immediately
preceding the fiscal year of the budget. All such contracts executed on or after July 1, 2007 must be approved by the school board.
(Sheet is unprotected and can be re-formatted as needed, but must be used for submission)
Name of Vendor
Product or Service
Provided
Net Revenue
Non-Monetary
Remuneration
Purpose of Proceeds
Distribution Method and Recipient of
Non-Monetary Remunerations
Distributed
Vendor Contracts
(Page 30)
- Vendor Contracts
of $1,000 or More
New Revenue
Account 1980
Questions?