Special Revenue

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Special Revenue
Budget Preparation and Procedures Presented
by Billie J. Fisher, Budget Services
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Budget Services
Budget Services main objective is to
provide customer service and documents that
reviews the District budgets, its operations
and its primary goals.
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Organizational Leadership to call for Assistance
Ed Carlon, Director
Capital Projects
Billie Fisher, Budget Analyst
Special Revenue Funds
Melanie Rease, Budget Analyst
General Fund/Position Control
Debbie Foster, Secretary
General Fund
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Responsibility of Budget Services

• Assist in the development of budgets
• Provide budget assistance to schools
• and departments
• Coordinate with director or contact
• person of a particular budget
• Meets with personnel of schools/departments
• to review and answer questions

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Responsibility of Budget Services

• Monitor the activity of an approved budget
• to stay within the guidelines
• Send out budget reports to schools and
• departments bi-weekly
• Send out purchase order reports bi-weekly

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Budget Preparation
Information Needed in Budget Services
1. Award Letter
2. Detail of Expenditures
3. Narrative of Grant
4. Allocated Amount
5. Budget Summary by Category
(Salary, fringes, purchased services, supplies,
equipment, other, indirect costs)

If you need assistance, I can help.
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Budget Preparation
Descriptions
Special Revenue
Award Letter
Narrative
Allocated Amount Beginning and Ending
Dates Allowable Expenditures Funding
Source Sub-Fund Code (can be assigned if one is
not given)
Special Revenue funds are used to segregate
and account for proceeds of a specific revenue
source that are restricted to expenditures for
specified purposes. Funds are not expended
unless prior authorization of the award is
received from the grant agency.
A narrative is a brief description that
summarizes the aim, focus and the grants
initiative.
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Submit approved award letters to Budget Services
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SAMPLE
Grant Award Letter
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Budgets

• A budget detail must be submitted to
• Budget Services each year for
• A New grant
• All carryover funds
• Grants the District is awarded each year,
• such as Title One, Special Education,
• Career Education, Adult Education, etc.

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Narrative Sample

• 320 Gifted Talented EIA Advanced Placement
  Program
• The purpose of the Advanced Academic Program
  is to provide a rigorous accelerated and enriched
  program
• for academically talented students who need
  programs
• beyond those being provided by the regular
  school program. All goals were met.
• This project meets Strategies 7 and 4 in the
  Districts Strategic Plan
• S. C. Regulation 43-220 Section II
  monitors the
• evaluation of this program.

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Categories Outlined
Salaries (Regular, Temporary, Overtime,
Additional) 100000
Fringe Benefits
(Health, Dental, Life, Retirement, Social
Security, 200000
Medicaid, Workers Compensation)
Purchased Services (Instructional, Misc. Purch.
Services, Travel, etc.) 300000 Supplies
Materials (Supplies and Materials)
400000 Capital
Outlay (Equipment)
500000 Other
Objects (Other Objects, dues and fees)
600000 Transfers
(Transfers, Indirect Costs)
700000
6-digit category
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YOUNG ADULT POPULATION FUND CODE 920
Sample Detailed Budget
ALLOCATED AMOUNT 178,979.66
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Summary of Account Codes
by
3. Program (4-DIGITS) 0000-9000
2. Unit (3-DIGITS) 110-999
4. Function (4-DIGITS) 0000-5000

• Fund
• (3-DIGITS)
• 100-999

Categories
5. Object (6-DIGITS) 100000-900000
6. Project (5-DIGITS) 72010-79691
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Budget Preparation

• What is an Org Code?
• Derivation of unit/location, and an
• index number that is assigned to a
• Fund/Program/Function combination.
• It is based on the unique Fund/Program/Functi
  on Combination that is assigned in MUNIS, and the
  unit code is placed in the front of this code.

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Preparation Cont
FUND
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Preparation Cont
UNIT
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Preparation Cont
PROGRAM
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Preparation Cont
FUNCTION
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Preparation Cont
OBJECT
Example Salary 110211 Fringe 220000
Purchased Service 332200 Supplies 410100
Capital Outlay 545000 Other 640000 Indirect
Cost 791000
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Preparation Cont
PROJECT
Example 7 year 201 Fund Code
and 0 added Result 72010
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VERY IMPORTANT TO PROVIDE
Preparation Cont
FUND GIVEN BY the GRANTOR OR It is ASSIGNED
PROJECT DIRECTOR OR CONTACT PERSON
SCOPE OR A BRIEF SUMMARY OF THE GRANT
PURCHASE FOR STUDENT (Grade Level) or for STAFF
FTE Is the PERSONNEL for Regular
Salary Can be a .25 to 1.00
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Journal Voucher

• A Journal Voucher is a transaction that is
  used
• to re-classify funds in the General Ledger
  from
• fund to fund. It is used to move
  amounts in
• budgets from place to place.

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Purpose of a Journal Voucher

• A transaction used to update the General
  Ledger. It may be a
• posting of the original transaction,
  adjustment, reversal or a
• correction
• Used to transfer amounts between General
  Ledger accounts (i.e
• Special Revenue accounts), General Fund
  accounts, to accrue,
• reverse, re-classify, or correct data
• Journal Vouchers are entered in accordance
  within the
• accounting period
• An explanation and proper documentation is
  required and must
• provide a detail to satisfy an auditor
  (internal or external) auditor.

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Journal Vouchers
are used to
Special Revenue To General Fund
General Fund to Special Revenue
Re-classify Expenditures
J V
Deferred Revenue
Re-classify Cash to Current Year
Re-classify Indirect Cost
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Budget Transfers
are used to
Transfer money from line-item to line-item in the
same fund. It is not permissible to transfer
monies from one fund code to another fund.
Transferring monies from one fund-to-fund is
done with a Journal Voucher and will be processed
in the Finance Department.
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An Amendment to an approved budget is necessary
If it is outside the Approved Guidelines

Amend Budget With change(s)
New Y-T-D Budget Reports generated and mailed
Budget is then re-adjusted In MUNIS
A copy of approval from grantor
A copy of approval from grantor

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Amended Budget
Follow-up to an Estimated budget once the final
award is received you need to
Submit budget changes to the funding source
(SDE, Federal, EIA, etc.) for approval.
Send new approved funding amendment letter to
Budget Services Submit revised categories
and amount(s) to be adjusted
Adjustments will be made to budget (Budget
Services) A new Y-T-D budget report will be
mailed with the new adjustments
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Richland One Calendar Year forSpecial Revenue
Grants
Others may run beyond June 30th of a given year
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Review
Getting Budget Set up to use

• Award letter
• Narrative
• Contact persons name
• Location (Unit)
• What Program
• What Function
• If for Student or Staff
• If for student, what grade level
• Detail of approved expenditures (purchases)

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ReviewAmendment to a Budget

• Amendment help, contact Finance Department
• Amendment sent to the funding source
• for approval
• New award letter (with the approved
• change(s) to Budget Services
• A new detailed budget with changes
• (Budget must balance to the new
  amendment amount)

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ReviewAmendment to a Budget

• Budget Services will make changes
• to the budget
• Generate a Y-T-D budget report, and
• mail or fax the revised budget
• Budget reports are mailed out bi-weekly
• to the contact person named in the grant

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ReviewPurchase Orders

• Purchase order reports are mailed out bi-weekly
  
• Determine whether or not a PO should be closed
• or remain open
• Generate a change order if PO is to be closed
• Ask for PO to be flagged full to remove from
  list

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ReviewBudget Transfers

• Transfer funds from categories in the same fund
• Cannot move money from a line where there
• are no funds (no budget amount)
• After transfer of funds a new budget report is
• generated and mailed

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Special Revenue Documents Processed in Budget
Services
Budget Reports
0
194,409,833
Budgets
Budget Transfers
Change Orders
2,997,238
Requisitions
Purchase Order Reports
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If you need assistance
I can help with that
Call Budget Services
Or I can Come to your Work-site
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Special Revenue budgets are approved by District
Committees, The Board of School
Commissioners, and must be evaluated to
determine if the goals were accomplished.
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Special Revenue
Q and A