financial services budget department budget 101. marilyn farrell, budget director marilyn farrell,...

FINANCIAL SERVICES

BUDGET DEPARTMENTBUDGET 101

Marilyn Farrell, Budget Director– [email protected],

x8012 Amy Parker, Budget Coordinator

– [email protected], x8024

Patty Epps, Position Control– [email protected],

x8122

BUDGET DEPARTMENT

ACCOUNT CODE STRUCTURE GAAP and Legal Compliance

– Guidelines for financial accounting and reporting are derived from generally accepted accounting principles (GAAP).

– School districts are required to adhere to GAAP.

– The Texas Education Code (TEC) and other state statutes contain the legal requirements for public school finance, accounting, budgeting and reporting.

ACCOUNT CODE STRUCTURE

STUDENT DEMOGRAPHICS

ACADEMIC PERFORMANCE

PERSONNEL INFORMATION

FINANCIAL DATA (MUNIS)

Public Education

Information Management

System (PEIMS)

TEA


FUND CODE FUNCTION OBJECT SUB-OBJECT ORGANIZATION

PROGRAM ACTIVITY SOURCE PROJECT

*Source: Budget Management Guidelines and Procedures document available for download on the Budget website

1 2 9 5 3 4 6 7 10

FUND FUNCTION OBJECT SUB-OBJECT ORGANIZATION PROGRAM ACTIVITY SOURCE PROJECTXXX XX XXXX XX XXX XX XXXX XXX XXXXX

SEGMENTS


FUND CODE - A fund (3 digits) is an accounting entity with a self-balancing set of accounts recording financial resources and liabilities. The fund's purpose can be established by the state or federal government as well as the school district.

EXAMPLES OF FUND TYPES– General Fund (Fund 199)– Special Revenue Funds (Funds 200 – 499)

Federal (Funds 200 – 379) State (Funds (380 – 459) Local (Funds (460 – 499)

– Capital Projects Funds (Funds 600 – 699)– Internal Service Funds (Funds 750 – 799)– Fiduciary Funds (Funds 800 – 899)

1 2 9 5 3 4 6 7 10


SEGMENTS

*Refer to the Budget Management Guidelines and Procedures document available for download on the Budget website for a complete listing.


– 11 Instruction– 12 Library– 13 Staff Development– 23 Campus Administration– 31 Counselor– 33 Nurse– 34 Transportation to/from school

– 36 Extracurricular– 41 General Administration– 51 Maintenance– 52 Security– 53 Data Processing– 61 Community Services

FUNCTION - A function (2 digits) represents a general operational area in a school district and groups together related activities. Most school districts use all of the functions in the process of educating students or organizing the resources. For example, in order to provide the appropriate atmosphere for learning, school districts transport students to school (function 34), teach students (function 11), feed students (function 35) and provide health services (function 33). Each of these activities is a function.

SUMMARY OF COMMONLY USED FUNCTIONS

1 2 9 5 3 4 6 7 10


SEGMENTS



OBJECT - An object code (4 digits) identifies the nature of an account or transaction. The school district's accounting records are to reflect expenses at the most detailed level, as depicted in the chart of accounts for accounting and Public Education Information Management System (PEIMS) reporting (actual data) purposes.

SUMMARY OF COMMONLY USED OBJECT CODES– 6100 Payroll - Common Object Codes

6112 – Substitutes for Teachers/Professionals 6118 – Teacher/Professional Extra Duty Pay 6121 – Support Personnel Extra Duty 6122 – Substitutes for Support Personnel/Temps 614X – Payroll Benefit Accounts

1 2 9 5 3 4 6 7 10


SEGMENTS



SUMMARY OF COMMONLY USED OBJECT CODES (cont’d)– 6200 Services – Common Object Codes

6219 – Professional Services 6239 – Education Service Center (e.g. Region IV) 6245 – Buildings and Grounds Contracts (e.g. painting, repairs) 6249 – Equipment Repair Contracts (e.g. copier maintenance) 6269 – Rentals/Operating Leases (e.g. copier leases) 6291 – Consulting Services 6299 – Miscellaneous Contracted Services

1 2 9 5 3 4 6 7 10


SEGMENTS



SUMMARY OF COMMONLY USED OBJECT CODES (cont’d)

– 6300 Supplies – Common Object Codes 6321 – Textbooks 6329 – Reading Materials 6399 – Teaching/General Supplies

1 2 9 5 3 4 6 7 10


SEGMENTS




– 6400 Other Operating – Common Object Codes 6411 – Employee Travel 6412 – Student Travel 6494 – Field Trips (Humble ISD Transportation) 6495 – Dues 6499 – Miscellaneous Operating

1 2 9 5 3 4 6 7 10


SEGMENTS




– 6600 Capital Outlay – Common Object Codes 6631 – Vehicles >= $5,000 6639 – Furniture, Equipment and Software >= $5,000 6649 – Controllable Assets* 6669 – Library Books and Media

1 2 9 5 3 4 6 7 10


SEGMENTS



SUB-OBJECT - The sub-object (2 digits) further identifies the object code (numeric and alpha) and is used by a district, campus, or department for management purposes to distinguish accounts.

Sub-objects are optional in most cases and are used by the district to further define expenses such as:– Printing (PR)– Technology (65)– Postage (PM)– Mileage (MI)– Subject Areas such as Math (54), Science (67), etc.

1 2 9 5 3 4 6 7 10


SEGMENTS



ORGANIZATION - An organization (3 digits) is a group of employees who are obligated to complete a specific responsibility and will generally have an identifiable leader or an individual who is accountable for the overall completion of the responsibility.

Organizations are defined by the Financial Accounting Standards and Reporting Guidelines published by TEA– 001-040 High Schools– 041-100 Middle Schools– 101-698 Elementary Schools– 699 Summer School

1 2 9 5 3 4 6 7 10


SEGMENTS


– 700-997 Administrative

– 998 Unallocated– 999 Undistributed


PROGRAM - A program intent code (2 digits) is used to account for the cost of instruction and other services that are directed toward a particular need of a specific set of students. The intent (the student group toward which the instructional or other services is directed) determines the program intent code, not the demographic makeup of the students served.

SUMMARY OF PROGRAM CODES– 11 Basic Education– 21 Gifted & Talented– 22 Career & Technology– 23 Special Education– 24 State Comp Ed (SCE)– 25 Bilingual– 26 AEP Basic Services– 28 DAEP Basic Services– 30 SCE Title I

1 2 9 5 3 4 6 7 10


SEGMENTS


– 31 High School Allotment– 32 Prekindergarten– 33 PreK Special Education– 34 PreK Compensatory Education– 35 PreK Bilingual Education– 91 Athletics– 99 Undistributed


ACTIVITY - The activity (4 digits) identifies the campus program, student group, or department program for which the expenditures are intended. Activities can be linked to expenditure as well as revenue accounts.

Activities are optional in many cases. They are required for centralized activity fund accounts. Activities used by the district to further define groups or departments such as:– Athletics groups (Basketball, Cross Country, Football,

etc.)– Academic groups (Debate/Speech, Science Olympiad,

etc.)– Departments/Classes (Math, English, Science, Library,

etc.)– Organizations/Clubs (NHS, Student Council, Honor Choir,

etc.)

1 2 9 5 3 4 6 7 10


SEGMENTS



SOURCE - The source (3 digits) identifies the campus/department with budget authority over the expense/receipt. A department can continue to maintain control over those funds that are transferred to campuses and still maintain proper PEIMS coding.

Source Codes are locally defined by the District and are used to assign budget authority within the financial system. See Summary of Organization Codes for list of values.

1 2 9 5 3 4 6 7 10


SEGMENTS



PROJECT - The project code identifies grants, bond projects, maintenance projects and other special projects where costs must be accumulated as separate projects with 5 characters in length.

Project Codes are locally defined by the district. Some of the examples of how project codes are used to further define expenditures are:– Projects beginning with F are granted by the Education Foundation– Projects beginning with B are capital projects usually funded by bonds– Projects that begin with numbers are generally federal, state or local

grants where the first three digits define the fund, the fourth digit defines the expenditure period (e.g. 3 is for 2012-13) and the letter code separates multiple grants that may be combined in the same fund.

– Projects that begin with GF are part of the General Fund allocation– Projects that begin with SP denote special projects related to unforeseen

events (fire damage, water damage, etc.)

1 2 9 5 3 4 6 7 10


SEGMENTS


GENERAL INFORMATION Budget Management Guidelines and

Procedures Document available for download on the Budget webpage

GENERAL INFORMATION 2.1 – Definitions

– Accounting Periods - The months within a fiscal year are referred to as accounting periods in MUNIS. The District’s financial reporting periods begin with July (period 1) and end with June (period 12).

– Budget Amendment – This is a transfer of budget money between general ledger accounts. These items are generally processed by the budget department.

GENERAL INFORMATION 2.1 – Definitions (cont’d)

– Capital Asset – Items with a useful life of more than one year and a unit cost greater than or equal to $5,000 (object code 6639.) Capital asset as defined by the District's capitalization policy includes equipment, furniture, works of art, historical treasures and infrastructure.


– Controllable Asset – Items that do not meet the district's capitalization threshold, but for which the district maintains an inventory record, and which have a useful life of more than one year (object code 6649.) See the Capital Outlay Guidelines for a specific list of items which qualify.


– External Budget Amendment - transfer to/from an account outside of the originating department’s budget authority.

– Fiscal Year - The start and end of the District’s financial year. The district’s fiscal year begins with July and ends with June.

– Internal Budget Amendment - transfer to/from accounts within the originating department’s budget authority.


– Journal Entry – This is a transfer of actuals (e.g. revenues, expenditures) between general ledger accounts. These items are generally processed by the general ledger accountants.

– Multiyear Fund – Need exists to manage financial information for a set of accounts greater than one fiscal year (many federal grants have a begin and end date of greater than one year), or where the fiscal year of the grant does not line up with the district’s fiscal year (Jul – Jun.)

GENERAL INFORMATION

Journal Acronyms– Accounts Payable

API - AP Invoice Posting APM - AP Invoice Maintenance

– Budget Entries BUA - Budget Adjustment BUC - New Budget Posting

– Cash Receipts CRP - Posted Payments & Reversals GCR - General Cash Receipts

GENERAL INFORMATION Journal Acronyms (cont’d)

– Encumbrances GEL - General Encumbrance Journal

– Journal Entries GEN - General Journal Entry GNI - General Journal Import GRV - Journal Reversal

– Inventory Entries (Warehouse) INI - Inventory Issue

– Work Order Entries (Print Shop, Postage) WOJ - Work Order Journal

GENERAL INFORMATION Journal Acronyms (cont’d)

– Purchase Order Entries POE - PO Entry POL - PO Liquidation POM - Purchase Order Maintenance SOY - Open New Fiscal Year YEC - Close Current Fiscal Year

– Payroll Entries PRJ - Payroll Distribution Journal PRX - Payroll Texas TRS

BUDGET TRANSFERS AND AMENDMENTS Querying and Printing Posted Journals

– Under the Financials Menu, select General Ledger Menu, Journal Entry/History, then click Journal Inquiry/Print

– In the Journal Inquiry/Print screen, click the magnifying glass to enter “find” mode

– Input these criteria to find a budget amendment journal: Year = Fiscal year journal was posted (2012) Period = Period journal posted (Jul = 1, etc.) or leave blank. Journal = Enter journal number or leave blank Source = BUA for budget amendment journals Created by = your user id (first initial and first 6 letters of last

name) Leave the remaining fields blank and click Accept (green check) Scroll through journals on screen, print, display or save as PDF file

QUERIES, REPORTS AND GUIDELINES Budgeting for P-Cards

– Funds set aside using sub-object P1– P-Cards using 199-General Fund

Funds will be re-appropriated each year from your current year allocation

Set aside funds will be used against P-Card purchases for June each year

In the event a P-Card is cancelled, remaining funds will be released into available balance

– P-Cards using other funding sources Funds will be set aside one time and remain set aside until

P-Card is deactivated Set aside funds will be used against P-Card purchases for

the last month the P-Card is active Remaining funds will be released into available balance

THANK YOU!!

financial services budget department budget 101. marilyn farrell, budget director marilyn farrell,...

Documents