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Adult Education Financial Matters

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Title: Adult Education Financial Matters


1
Adult Education Financial Matters
2
Adult Education Financial Matters
  • Accounting Codes
  • EF-X-132 Financial Page
  • Budget Approval Process
  • Other Issues
  • Questions

3
Accounting Codes
  • Form the backbone of any financial reporting and
    accountability system
  • This structure gives an entity the ability to
    accurately and effectively report on its
    financial activities
  • Provide a uniform means for comparing
    evaluating organizations (i.e. School Districts)
  • Maine DOE Model Chart of Accounts http//www.mai
    ne.gov/education/data/schfindata.htm

4
http//www.maine.gov/education/data/schfindata.htm
5
Accounting Codes
  • Expenditures use a series of levels in a
    hierarchy to identify the following
  • The fund from which the funds are being expended
  • The program that is spending the funds
  • The function for which the funds are being spent
  • The object on which the funds are spent
  • The level of instruction associated with the
    expenditure (Cost Center)

6
Accounting Codes
  • Further they identify
  • The project for which funds are being spent
  • The operational unit on which the funds are being
    spent
  • The subject matter on which the funds are being
    spent
  • The job class associated with the expenditure

7
Accounting Codes
  • Expenditures use a series of levels in a
    hierarchy to identify the following
  • The fund from which the funds are being expended
  • The program that is spending the funds
  • The function for which the funds are being spent
  • The object on which the funds are spent
  • The level of instruction associated with the
    expenditure (cost center)

8
Accounting Codes
100 6500 1000 1010 40
  • These are the minimum categories in the States
    Chart of Accounts
  • Additional categories may be added for more local
    level detail

9
Accounting Codes
The fund from which the funds are being expended
100 6500 1000 1010 40
10
Accounting Codes
Examples of Fund Codes
Fund Code 150 may be used to specifically
differentiate Adult Education from other General
Fund expenditures if the LEA wishes
11
Accounting Codes
  • The program that is spending the funds

100 6500 1000 1010 40
12
Accounting Codes
Examples of Program Codes (specifically
applicable to adult education)
Summary Code
13
Accounting Codes
  • The function for which the funds are being spent

100 6500 1000 1010 40
14
Accounting Codes
Examples of Function Codes
15
Accounting Codes
  • The object on which the funds are spent

100 6500 1000 1010 40
16
Accounting Codes
Examples of Object Codes
17
Accounting Codes
  • The level of instruction associated with the
    expenditure (Cost Center)

100 6500 1000 1010 40
18
Accounting Codes
Examples of Cost Center Codes
19
Accounting Codes
  • Handbook - 2R
  • Out of date
  • Chart of Accounts
  • Required for all financial reporting to MDOE

20
Accounting Codes
Can you name these accounts?
21
Accounting Codes
Benefits for the teacher of an adult education
CTE course
22
Accounting Codes
Supplies for an adult education high school
completion course
23
Accounting Codes
Salary for an adult education teacher of an adult
transitions course
24
Accounting Codes
Salary for an adult education Director
25
Accounting Codes
Salary for an adult education teacher of an adult
transitions course
26
Accounting Codes
Salary for an adult education teacher of an
college transitions course
27
Program Codes
Subsidizable Category
28
Special Object Codes
29
The EFX-132 is the Form for Reporting Your
Programs Financial Information and Calculating
Subsidy.
30
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31
(No Transcript)
32
EF-X-132 Page 1
  • FTE Full Time Equivalent (expressed as a
    decimal)
  • FTE calculation based on a standard 40 hour work
    week
  • Hours worked as stipulated in contract or other
    work agreement
  • Divide hours worked by 40
  • Work 20 hours FTE .50
  • Work 32 hours FTE .80
  • Work 19 hours FTE .48

33
(No Transcript)
34
EF-X-132 Page 1
  • Item 10 Major Duties
  • These are NON-ADULT EDUCATION duties
  • Examples
  • Alternative Education Director
  • Affirmative Action Officer for district
  • Gifted and Talented Coordinator
  • DO NOT list duties that are part of the Adult
    Education Directors job (e.g. intake, testing,
    designing the course catalogue, registrations,
    submitting reports)
  • Being on the Districts Administration Team is
    considered part of the duties of an Adult
    Education Director

35
EF-X-132 Financial Page
36
EF-X-132 Financial Page
  • Organization based on the hierarchy of the MDOE
    Chart of Accounts
  • Section A Instructional Programs
  • Section B Grants and Contracts (Fund 200)
  • Section C Administration
  • Additional information and detail
  • Data used to calculate the Adult Education
    Subsidy (Items marked with an asterisk)

37
EF-X-132 Financial Page
Subsidizable Expenditure
38
EF-X-132 Financial Page
39
EF-X-132 Financial Page
40
EF-X-132 Financial Page
1.00
Line 10f on Page 1
Directors Salary Detail Page 3
41
EF-X-132 Financial Page
42
EF-X-132 Financial Page
43
EF-X-132 Financial Page
Directors reported salary reduced by the 25
reflecting the percentage of time spent on
Alternative Education
1.00
44
Accounting Codes
  • How do your codes stack up?
  • What differences exist
  • What will it take to reconcile those differences
  • What special needs do you have (for codes)
  • Unique programs
  • Local reporting expectations (e.g. multi SAU
    adult ed programs)
  • Would you be able/feel comfortable having the
    adult education financial data reported as part
    of the MDOE Data Warehouse reporting process?

Talk to your Bookkeeper NOW!
45
Financial Reporting
  • FY2008
  • Data submitted on the EF-X-132
  • Data also submitted on the MEDMS Financial system
  • Data compared for accuracy and completeness
  • Actual Subsidy will be calculated from the
    EF-X-132
  • FY2009
  • Financial data submitted on the MEDMS system only

46
Subsidy Calculation Worksheet
  • Fill in the amounts from the appropriate cells on
    the EF-X-132
  • Provides an estimate of your subsidy for the
    following year.
  • The one unknown is the Prorate

47
Subsidy Calculation Worksheet
48
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49
Questions on Financial Reporting
50
Recent Financial Issues And Changes
51
Recent Financial Issues
  • Public Law of 2007 Chapter 131
  • Updated and revised adult education statutes
  • Codified Adult Education Warrant Article language
  • Added Adult Transitions to the subsidy formula
  • Clarified other definitions and processes
  • Revision of the Adult Education Regulation

52
Recent Financial Issues
  • Public Laws 2008 Chapter 599
  • Made technical corrections to the warrant
    language section of the adult education statutes
  • Administrative Letter 38
  • Clarified the School Budget Approval Process for
    2008-09 (including adult education)
  • DOE MAEA issued additional guidance relative to
    the adult education budget approval process

53
Recent Financial Issues
  • Adult Education Budget Approval Process
  • Must have a separate warrant article for adult
    education
  • Warrant article must conform to the language in
    the statutes (Title 20-A Sec. 8603-a)
  • Warrant article voted on by the legislative
    body for the SAU
  • Adult Education is not part of the EPS cost
    centers and is therefore not subject to the
    validation referendum

54
Questions on Financial/Budget Issues
55
Got Questions?
  • Call - 624-6754
  • Email - andy.mcmahan_at_maine.gov
  • District level Bookkeeper Contact
    joanne.allen_at_maine.gov
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