Consolidated Administration

1
Consolidated Administration

• Pickwick April 3rd 4th
• Paris April 15th 16th
• Fall Creek Falls April 24th 25th
• Sevierville April 29th 30th

2
Accounting Structure

• Category
• 71000 Instruction
• 72000 Support
• Object
• 100 Salary
• 200 Benefits
• In-service
• 196 Personnel
• 524 Other

3
Indirect Cost at year end

• Indirect cost should be calculated and paid prior
  to 6/30 of each year.
• Indirect cost not paid by 6/30/08, receivable or
  payable set up.

4
Consolidated Administration

• More flexibility
• Eliminates the required PARSs daily tracking
• Can record every 6 months
• Includes all cost for supervisor and their staff.
• Personnel
• Benefits
• Travel
• Supplies for supervisors office
• In-service/Staff Development (Administrators)
• Equipment

5
Consolidated Administration

• Separate sub fund in 142 (011 019)
• Example Transfer 75,000 from Title I
• Request Title I funds and receive in Title I sub
  fund.
• Do journal entry in Title I sub fund.
• Debt 99100-590, Transfer Out 75,000
• Credit 11140 cash 75,000
• This amount should be reported as expenditure on
  FACTS for Title I.

6
Consolidated Administration

• In consolidated sub fund do this entry
• Debit 11140 cash 75,000
• Credit 49800 transfers 75,000
• All expenditures for consolidated would be in
  consolidated sub fund
• The expenses in consolidated administration
  should not be reported on FACTS.

7
Transfers

• Title II A transfer to Title V 5,000
• Request funds from Title II A, or from where
  allocated
• Receipt in Title II A sub fund
• Debt 11140 cash 5,000
• Credit 47189 Title II A revenue 5,000

8
Transfers

• Do journal entry to transfer funds to Title V in
  Title II books.
• Debit transfers out 99100-590 5,000
• Credit cash 11140 5,000
• This amount should be reported on FACTS as Title
  II expense.

9
Transfers

• Record funds in Title V sub fund
• Debit 11140 cash 5,000
• Credit 49800 transfers 5,000
• Spend in Title V as planned in the budget
• The total 5,000 will be reported as expense in
  Title V
• This expense will be recorded on FACTS in Title V.

10
Transfers

• Year end balances will need to be re-budgeted
  in 2009 for all funds.
• First be sure to request all funds needed to
  cover all expenditures by June 30.
• Request funds earlier enough in month to cover
  expenditures or a receivable will need to be
  set-up.

11
Transfers

• Indirect cost should be included in this request
  and can be set up as payable if that is needed.
• The total amount of the allocation less the
  amount expended on FACTS should be re-budgeted.
• Any cash on hand that is not obligated should
  also be re-budgeted.

12
Questions?