Transcript WUFAR Basics

WUFAR
(WISCONSIN
UNIFORM
FINANCIAL
ACCOUNTING
REQUIREMENTS)
Kathy Guralski, Auditor, School Finance Team
Wisconsin Department of Public Instruction
October 31, 2007
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This presentation is the first of two
webcast that will focus on reporting
by public elementary and secondary
schools in the State of Wisconsin.
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This webcast will focus on the
Wisconsin Uniform Financial
Accounting Requirements “WUFAR”
The second webcast will provide you
with examples of accounting
transactions and how to properly
account for them
WUFAR 101
Wisconsin Uniform Financial
Accounting Requirements
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It is a multi-dimensional reporting system that
can also be used as an accounting system
Not required accounting, but required reporting
Always used in conjunction with the Budget and
Annual Reports
Download off website
http://dpi.wi.gov/sfs/wufar.html
WUFAR Sequence of Dimensions
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Fund
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Location
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Source of revenue/Object of
expense
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Function
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Program or Project
WUFAR Account Format
Fund
Location
Object/
Function Program/
Source
Project
---------------------------------------------------------------XX
XXX
XXX
XXXXXX
XXX
Most of the commercial software used in districts will
display account codes in this order. In DPI reporting
you will see the function number preceding the
object or source. DPI reporting does not require
location detail.
Wisconsin Uniform Financial
Accounting Requirements - cont.
Code numbers are arranged in hierarchical order. A
zero (0) in any position of a code represents a total of
more detailed account codes.
The following is an example of a hierarchy in the
source dimension:
Fund Function
Description
10R 000000 210 Taxes
10R 000000 240 Payment for Services
10R 000000 260 Non-Capital Sales
10R 000000 270 School Activity Income
10R 000000 280 Earnings on Invest
10R 000000 290 Other Local Sources
10R 000000 200 Total Local Revenue
Wisconsin Uniform Financial
Accounting Requirements – cont
Code numbers are arranged in hierarchical order. A zero
(0) in any position of a code represents a total of more
detailed account codes.
The following is an example of a hierarchy in the
expenditure dimension:
Fund Function
10E 120000 100
10E 120000 200
10E 120000 300
10E 120000 400
10E 120000 500
10E 120000 900
10E 120000 000
Description
Salaries
Employee Benefits
Purchased Services
Non-Capital Objects
Capital Objects
Other Objects
Total Regular Curriculum
Reporting to DPI
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District general ledger will include more
detail of accounts than the DPI budget and
annual report. Many of the dimensions
will roll into the rollup account. For
example, on your general ledger you may
have account code functions 121000 for
Art and 122000 for English Language.
When you file your report with DPI both
functions will roll up into a 120000
function for Regular Education.
Reporting to DPI
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Download WUFAR allowable account
classifications by fund off website
http://dpi.wi.gov/sfs/wufar.html
WUFAR Account Format
Fund
------XX
Most of the commercial software used in districts will
display account codes in this order. In DPI reporting
you will see the function number preceding the
object or source. DPI reporting does not require
location detail.
FUND:
A fiscal and accounting entity
with a self-balancing set of
accounts…which are segregated
for the purpose of carrying on
specific activities in accordance
with special regulations,
restrictions, or limitations
FUND
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STAND ALONE ACCOUNTING ENTITY
BALANCE SHEET, REVENUES AND
EXPENDITURES FOR EACH FUND
WITHIN FUND, “DEBITS” MUST EQUAL
“CREDITS” (the fund must be selfbalancing)
CHANGE IN FUND BALANCE EQUALS
DIFFERENCE BETWEEN FUND REVENUES
AND EXPENDITURES
FUND
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ENDING FUND BALANCE MINUS
BEGINNING FUND BALANCE =
REVENUES MINUS EXPENDITURES
MORE REVENUES THAN
EXPENDITURES MEANS MORE
FUND BALANCE AT END OF YEAR
GENERAL FUND
FUND 10
FINANCIAL TRANSACTIONS
RELATING TO CURRENT
OPERATIONS NOT REQUIRED TO
BE ACCOUNTED FOR IN OTHER
FUNDS
SPECIAL PROJECTS FUNDS
FUND 21
GIFTS AND DONATIONS RECEIVED FROM PRIVATE PARTIES THAT
CAN BE USED FOR DISTRICT OPERATIONS
FUND 23
ANY REMAINING TEACH FUND BALANCE BEING USED TO MAKE
PAYMENTS ON A TEACH LOAN
FUND 27
SPECIAL EDUCATION AND RELATED SERVICES FUNDED WHOLLY
OR IN PART WITH STATE OR FEDERAL SPECIAL EDUCATION AID
FUND 29
SPECIAL REVENUE K-12 INSTRUCTIONAL PROGRAMS NOT
REQUIRED TO BE REPORTED IN OTHER SPECIAL REVENUE FUNDS
DEBT SERVICE FUNDS
FUND 38
Repayment of debt issues that were either; not
authorized by school board resolution before
August 12, 1993, or incurred without
referendum approval after that date.
FUND 39
Repayment of debt issues that were either;
authorized by school board resolution before
August 12, 1993, or approved by referendum.
CAPITAL PROJECTS
FUNDS
FUNDS 41, 48 AND 49
RECORDING EXPENDITURES
FINANCED THROUGH BONDS,
PROMISSORY NOTES, STATE TRUST
FUND LOANS, LAND CONTRACTS OR
TAX LEVY (EXPANSION FUND OR
TIF)
FOOD SERVICE FUNDS
FUND 50
ACCOUNT FOR THE DISTRICT’S FOOD SERVICE
ACTIVITIES
ACTIVITIES RELATING TO PUPIL AND
ELDERLY FOOD SERVICE ACTIVITIES
AGENCY FUND
FUND 60
ACCOUNT FOR ASSETS HELD BY THE DISTRICT
FOR PUPIL ORGANIZATIONS.
ONLY BALANCE SHEET ACCOUNTS FOR THIS
FUND ARE REPORTED IN THE BUDGET AND
ANNUAL REPORTS.
TRUST FUNDS
ASSETS HELD BY THE DISTRICT IN A TRUSTEE
CAPACITY FOR INDIVIDUALS, PRIVATE
ORGANIZATIONS, OTHER GOVERNMENTS AND/OR
OTHER FUNDS
FUND 72
ACCOUNTS FOR GIFTS AND DONATIONS SPECIFIED FOR THE
BENEFIT OF PRIVATE INDIVIDUALS AND ORGANIZATIONS
NOT UNDER THE CONTROL OF THE SCHOOL BOARD
FUND 73
ACCOUNTS FOR RESOURCES HELD IN TRUST FOR FORMALLY
ESTABLISHED DEFINED BENEFIT PENSION PLANS, DEFINED
CONTRIBUTION PLANS OR EMPLOYEE BENEFIT PLANS
COMMUNITY SERVICE
FUNDS
FUND 80
ACTIVITIES WHERE THE PRIMARY FUNCTION IS TO
SERVE THE COMMUNITY AND ARE OUTSIDE THE
REGULAR AND EXTRACURRICULAR PROGRAMS FOR
STUDENTS
PACKAGE AND COOPERATIVE
PROGRAM FUNDS
MULTIDISTRICT PROJECTS FOR WHICH IT IS NECESSARY
TO KEEP A SEPARATE RECORD OF ACTIVITY SO THAT
PARTICIPANT DISTRICTS’ SHARE CAN BE DETERMINED
FUND 91
EXPENDITURES MADE BY A HOST DISTRICT FOR PROGRAMS
MADE AVAILABLE TO OTHER DISTRICTS THROUGH A CESA
FUND 93
CONSORTIA PROGRAMS FUNDED WITH LOANS FROM THE TEACH
WISCONSIN BOARD
FUND 99
ALL OTHER TYPES OF COOPERATIVE INSTRUCTIONAL FUNDSNEVER REPORT SPECIAL EDUCATION
WUFAR Account Format
Fund
Location
--------------------XX
XXX
Most of the commercial software used in districts will
display account codes in this order. In DPI reporting
you will see the function number preceding the
object or source. DPI reporting does not require
location detail.
WUFAR Account Format
Fund
Location
Object/
Source
----------------------------------XX
XXX
XXX
Most of the commercial software used in districts will
display account codes in this order. In DPI reporting
you will see the function number preceding the
object or source. DPI reporting does not require
location detail.
SOURCE & OBJECT
The Source dimension is used to
classify revenues and other fund
sources by their origins.
The Object dimension is used to
identify the service or commodity
used in accomplishing a function.
REVENUE SOURCES
REVENUE CODING: 2 QUESTIONS
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“WHO’S PAYING THE MONEY?”
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“WHAT IS IT FOR?”
REVENUE CODING
SOURCE CODES
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LOCAL (SOURCE 200)
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A WI DISTRICT (SOURCE 300)
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DISTRICT OUTSIDE WI (SOURCE 400)
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INTERMEDIATE EDUCATIONAL AGENCY (SOURCE
500)
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STATE AGENCY (SOURCE 600)
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FEDERAL AGENCY (SOURCE 700)
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OTHER FINANCING (SOURCE 800)
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OTHER REVENUES (SOURCE 900)
EXPENDITURE OBJECTS
NORMAL RULE:
EXPENDITURES ARE CHARGED TO
THE FISCAL PERIOD WHEN THE
SERVICES ARE PROVIDED, SUPPLIES
ARE USED OR EQUIPMENT IS
ACQUIRED.
OBJECT CODING
–
–
–
–
–
–
MOST-USED OBJECT CODES
Salaries (100 Objects)
Fringe Benefits (200 Objects)
Purchased Services (300 Objects)
Non-Capital Objects (400 Objects)
Capital Objects (500 Objects)
Debt Retirement (600 Objects)
WUFAR Account Format
Fund
Location
Object/
Function
Source
-------------------------------------------------XX
XXX
XXX
XXXXXX
Most of the commercial software used in districts will
display account codes in this order. In DPI reporting
you will see the function number preceding the
object or source. DPI reporting does not require
location detail.
FUNCTION
CLASSIFICATION
FUNCTION DESCRIBES THE
PURPOSE FOR WHICH A SERVICE
OR MATERIAL OBJECT IS
ACQUIRED.
Reporting to DPI is often at the 2
or 3-digit function level, but local
districts can use more detail for
tracking expenditures.
FUNCTIONAL CODING
THE QUESTION TO ANSWER:
Which defined purpose caused the
revenue or expense to be
incurred???
Defined Purposes: (AKA: FUNCTIONS)
–
–
–
–
–
Instructional (100000) limited to activities
between students and teaching staff
Support Services (200000) administrative,
technical & logistical support to both instructional
and non-instructional programs
Community Services (300000)
Non-Program Trans. (400000)purchased
instructional services,, interfund transfers, open
enrollment tuition are included here
District-Wide (500000)used only with revenue
sources
WUFAR Account Format
Fund
Location
Object/
Function Program/
Source
Project
---------------------------------------------------------------XX
XXX
XXX
XXXXXX
XXX
Most of the commercial software used in districts will
display account codes in this order. In DPI reporting
you will see the function number preceding the
object or source. DPI reporting does not require
location detail.
PROGRAM/PROJECT
CLASSIFICATION
Program/Project is designed to
identify a group of activities.
Generally these activities are
identified separately for financial
support. They may also be used
for internal tracking by district.
PROGRAM/PROJECT
CLASSIFICATION
•
Project codes 100-599 are
determined by DPI
•
•
•
http://www.dpi.state.wi.us/sfs/onlin
e_ar.html
Project codes 600-999 are for
internal use
DPI collects ONLY fund 27
program/project codes
COMMON PROJECT CODES
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141 – identifies expenditures
reimbursed by ESEA Title I-A
341 – identifies expenditures
reimbursed by IDEA flow-through
grant
547 – identifies expenditures
reimbursed by food service aid –
lunch
ORGANIZATION OVERVIEW
Chart of
Accounts
Addendas
Fund 10
Fund 20
Fund 30
Fund 40
Fund 50
Other Funds
Annual
Report
to
DPI
Debt
Service
Amort.
Schedules
08 Debt
table.
Special
Ed.
Claim
Fund 27