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School Financial Services Update

• Ask Questions Anytime
• School Financial Services
• Other Topics
• FY 05-06 Budget Update
• FY 04-05 F-196 Update
• Financial Reporting Update
• SDAAC Update
• School District Training Needs
• SFS Rules Status
• QZABs
• Financial System Review Project
• Shared Service Arrangements
• FY 05-06 Accounting Manual Changes
• Other Topics Comments Questions?

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School Financial Services
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FY 05-06 Budget Update

• F-195/F-203 Status
• ABFR Status

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FY 04-05 F-196 Update

• Indirect Cost Rate Calculation
• MOE Tests
• Manual input item numbers for
• GMA Impact Fees (item 1581)
• SEPA Mitigation Fees (item 1591)

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Financial Reporting Update

• 2003-04 Statewide SD/ESD Financial Reporting
  Summary is complete and on our website
• New Program Series Reports!

SD/ESD 's
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SDAAC Update

• 2005-06 Meeting Schedule
• June thru September, 2005
• Subcommittee meetings
• October 28, 2005
• December 9, 2005
• January 27, 2006
• (Locations to be determined)
• Suggested FY 06-07 Projects?

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• School District Training Needs?
• Debt Service Fund Issues
• Federal Indirect Cost Rates
• School Financial Services Rules Status
• Conversion of sick leave on separation
• Leave Sharing
• Use of Lease Rental Proceeds in GF
• QZABs
• 11 million from 2004 2005 Allocations

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Financial System Review Project

• 1.9 million upgrade VAX systems
• When will this happen
• What we want them to know
• What we want to know

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Shared Service Arrangements andAccounting Manual
Updates for Fiscal Year 2005-06

• Christie M. Hazlett
• Supervisor, School District ESD Accounting

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Shared Service Arrangements

• Chapter 1
• Added Definitions
• Fiscal Agent
• An entity which has been empowered to handle
  fiscal matters for another entity, including
  disbursement of passing through of funds. This
  may include ensuring that the funds are used only
  for specific purposes defined by the grant or
  agreement.
• Sub-Recipient
• An entity that expends grants or other financial
  assistance received from a fiscal agent and/or
  pass-through entity.

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Shared Service Arrangements

• Chapter 1 (Continued)
• Added Definitions
• Pass-Through Entity
• An entity that provides grants or other financial
  assistance received by a governmental entity to
  transfer to or spend on behalf of a secondary
  recipient or sub-recipient.
• Vendor/Contractor
• A contractor, dealer, distributor, merchant or
  other seller providing goods or services that is
  required of the conduct of a federal or state
  program. These goods or services may be for an
  organizations own use or for the use of
  beneficiaries of the federal or state program.
  (For example, an ESD or School District that
  provides a good or service to another ESD or
  School District would be considered a vendor.)

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Charts for SSAs (Hand Out)

• Chart 1 Fiscal Agent and Sub-Recipient
• Chart 2 Vendor
• Chart 3 Fiscal Agent, Sub-Recipients, Vendor

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Fiscal Agent Journal Entries (Hand Out)

• Chapter 7 Section 9 Shared Service Arrangements
  with Fiscal Agent Responsibilities
• Scenario 1 Fiscal Agent as a Participating
  District
• Scenario 2 Fiscal Agent as a Non-Participating
  District with Administrative Responsibilities
• Scenario 3 Fiscal Agent as a Non-Participating
  District with No Administrative Responsibilities
• Scenario 4 Fiscal Agent as a Participating
  District with On Behalf Payments

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Accounting Manual Changes

• Edits and other changes
• Reorder of chapters in GAAP order
• General Fund
• ASB Fund
• Debt Service Fund
• Capital Projects Fund
• Transportation Vehicle Fund
• Fiduciary/Trust Agency Funds
• Shared Service Arrangements
• Fiscal Agent journal entry examples

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Accounting Manual Changes

• Chapter 3 - Revenue Recognition
• Added clarification of revenue recognition versus
  reimbursement of expenditures.

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Accounting Manual Changes

• Chapter 4 General Ledger Accounts
• Deleted GLs
• 607 Accrued Vacation Leave
• 608 Accrued Vacation Leave
• Added GLs
• 536 Other Financing Uses Transfers Out
• Updated GLs
• Updated descriptions on several GLs.

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Accounting Manual Changes

• Chapter 5 Revenue Accounts
• Deleted Accounts
• 6177 Eisenhower Professional Development
• 6377 Eisenhower Professional Development
• Added Accounts
• 6162 Math Science Professional Development
  (NCLB Title II Part B).
• List of new revenue accounts (see handout)

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Accounting Manual Changes

• Chapter 5 Revenue Accounts (Continued)
• Update Accounts
• 2700 Rentals Leases (Description, SHB 1995)
• Other updates as necessary for new revenues
• Titles and descriptions in several account
  numbers

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Accounting Manual Changes

• Chapter 6 Expenditure Accounts
• Deleted
• Program 77 Eisenhower Professional Development
• Added
• Program 62 Math Science

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Accounting Manual Changes

• Chapter 6 Expenditure Accounts (Continued)
• Updated
• Activity 20 Instruction (Description)
• Activity 24 Guidance and Counseling
  (Description, includes homeless liaison work)
• Activity 25 Pupil Management Safety
  (Description, includes cell phones)
• Activity 61 Supervision (Description, includes
  property managers and other clarifications)
• Activity 67 Building Property Security
  (Description, includes cell phones)
• Others

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Accounting Manual Changes

• Chapter 7 Journal Entries
• Updates done as needed based on previously
  mentioned changes
• New Section on Fiscal Agent (talk about later)

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Accounting Manual Changes

• Chapter 10 Grant Management
• Financial Management of Grants section
• Added section that discusses that program grants
  may be more restrictive in the accounting for
  expenditures then the current version of the
  accounting manual allows

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Accounting Manual Changes

• Appendix A
• Glossary of Terms
• Terms Deleted
• Adult Basic Education
• Expendable Trust Fund
• Operating Transfer
• Residual Equity Transfer
• Terms Added
• Fiscal Agent
• Pass-Through Entity
• Sub-Recipient
• Vendor

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Accounting Manual Changes

• Appendix A Glossary of Terms (Continued)
• Terms Updated
• Other Financing Sources
• Other Financing Uses
• Replacement Costs
• Food Services School Food Services

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• Other Topics?
• Comments Feedback!
• Questions?

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OSPI School Financial Services
Christie
Ron
SD Business Manager
Mike
Pam