Adult Education Finance for the NonFinancial Manager - PowerPoint PPT Presentation

Loading...

PPT – Adult Education Finance for the NonFinancial Manager PowerPoint presentation | free to view - id: 1a243a-ZDc1Z



Loading


The Adobe Flash plugin is needed to view this content

Get the plugin now

View by Category
About This Presentation
Title:

Adult Education Finance for the NonFinancial Manager

Description:

Adult Education Finance for the Non-Financial Manager. Finance for the Non-Financial Manager ... Case 1 Subsidy = $73,500.00 (local share $30,000.00) ... – PowerPoint PPT presentation

Number of Views:294
Avg rating:3.0/5.0
Slides: 90
Provided by: and94
Category:

less

Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: Adult Education Finance for the NonFinancial Manager


1
Adult Education Finance for the Non-Financial
Manager
2
Finance for the Non-Financial Manager
  • Accounting Codes
  • EF-X-132
  • Subsidy Formula
  • 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/handbook/handbookmenu.htm

4
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)

5
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

6
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)

7
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

8
Accounting Codes
The fund from which the funds are being expended
100 6500 1000 1010 40
9
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
10
Accounting Codes
  • The program that is spending the funds

100 6500 1000 1010 40
11
Accounting Codes
Examples of Program Codes (specifically
applicable to adult education)
Summary Code
12
Accounting Codes
  • The function for which the funds are being spent

100 6500 1000 1010 40
13
Accounting Codes
Examples of Function Codes
14
Accounting Codes
  • The object on which the funds are spent

100 6500 1000 1010 40
15
Accounting Codes
Examples of Object Codes
16
Accounting Codes
  • The level of instruction associated with the
    expenditure (Cost Center)

100 6500 1000 1010 40
17
Accounting Codes
Examples of Cost Center Codes
18
Accounting Codes
Can you name these accounts?
19
Accounting Codes
Benefits for the teacher of an adult education
CTE course
20
Accounting Codes
Supplies for an adult education high school
completion course
21
Accounting Codes
Salary for an adult education teacher of an adult
transitions course
22
Accounting Codes
Salary for an adult education Director
23
Program Codes
Subsidizable Category
24
Special Object Codes
25
The EFX-132 is the Form for Reporting Your
Programs Financial Information and Calculating
Subsidy.
26
(No Transcript)
27
(No Transcript)
28
(No Transcript)
29
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

30
(No Transcript)
31
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

32
(No Transcript)
33
EF-X-132 (Page 2) Enrollment Data
34
Demog Tab Pages 1 and 2
Finan Tab Page 3
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
  • 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 EFX-132
  • Questions

45
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!
46
Adult Education Subsidy Formula
  • Two Key Components of Formula
  • Allowable Expenditures
  • Ceiling

47
What Are Allowable Expenditures?
  • Instructional Costs

48
Instructional Costs
  • Teachers Salaries
  • Teachers Benefits
  • In The Following Instructional Categories
  • Local Literacy (6600)
  • High School Completion (6500)
  • Workforce Training Retraining (6300)
  • Adults With Disabilities (6400)
  • Adult Transitions (6060)

Projected to become a subsidizable category in
FY07
75 Reimbursement
49
What Are Allowable Expenditures?
  • Instructional Costs
  • Object Codes
  • Salaries 1010
  • Benefits 2010
  • Contracted Services eligible for subsidy 3430

50
What Are Allowable Expenditures?
  • Instructional Costs
  • Administrative Costs

51
Allowable Administrative Costs
  • Directors Salary Benefits
  • Assistant Directors - Salary Benefits
  • ABE Coordinator - Salary Benefits
  • Clerical - Salaries Benefits
  • Instructional Support Services -Salary Benefits

70 Reimbursement
52
What Are Allowable Expenditures?
  • Instructional Costs
  • Administrative Costs
  • Salaries 1040 1080

53
What Are Allowable Expenditures?
  • Instructional Costs
  • Administrative Costs
  • Salaries 1040 1080
  • Benefits 2040 2080

54
What Are Allowable Expenditures?
  • Instructional Costs
  • Administrative Costs
  • Supplies Other Support Services

55
Supplies/Other Support Services
  • Textbooks Instructional Materials
  • Certain Other Costs
  • Postage
  • Telephone
  • Publicity
  • GED Annual Fee
  • Fiscal Services
  • Travel To State Meetings

50 Reimbursement
56
Supplies/Other Support Services
  • Textbooks Instructional Materials
  • Supplies 6100

50 Reimbursement
57
Supplies/Other Support Services
  • Textbooks Instructional Materials
  • Certain Other Costs
  • Postage 5310
  • Telephone 5320
  • Publicity 5400
  • GED Annual Fee 8130
  • Fiscal Services 5000
  • Travel To State Meetings 5830

50 Reimbursement
58
Adult Education Subsidy Formula
  • Two Key Components of Formula
  • Allowable Expenditures
  • Ceiling

59
Adult Education Subsidy Formula
  • Ceiling Calculation
  • Local Share Subsidy Check Ceiling
  • 60,000 40,000 100,000

The Ceiling Represents the Maximum Amount of
Expenditures That Will be Considered for
Calculating the Subsidy.
60
XYZ Adult Community Education Program Subsidy
Calculation for FY2004 Case 1
  • Amount of state subsidy received in foundation
    year (FY02) - 70,000.00
  • Amount of Local Participation in foundation year
    (FY02) - - 30,000
  • Instructional Expenses - 70,000.00
  • Administrative Expenses - 40,000.00
  • Supply Expenses - 20,000.00

61
Subsidy Calculation
62
Subsidy Calculation Order of Operations
  • I Instructional Exp.
  • Am Administrative Exp.
  • Smart Supplies Exp.

63
Subsidy Calculation
64
Subsidy Calculation
65
Subsidy Calculation
66
Subsidy Calculation
67
Subsidy Calculation
68
Subsidy Calculation
69
Subsidy Calculation
70
Subsidy Calculation
71
XYZ Adult Community Education Program Subsidy
Calculation for FY2006 Case 2
  • Amount of state subsidy received in foundation
    year (FY04) - 70,000.00
  • Amount of Local Participation in foundation year
    (FY04) - - 80,000.00
  • Instructional Expenses - 70,000.00
  • Administrative Expenses - 40,000.00
  • Supply Expenses - 20,000.00

72
Subsidy Calculation
73
Subsidy Calculation
74
Subsidy Calculation
75
Subsidy Calculation
76
Subsidy Calculation
  • Case 1 Subsidy 73,500.00 (local share
    30,000.00)
  • Case 2 Subsidy 90,000.00 (local share
    80,000.00)
  • Conclusion?
  • The amount of your subsidy is impacted
    (positively or negatively) by the amount of the
    local share.

77
Subsidy Calculation
  • Also remember that how you spend your money
    (programming categories etc) will impact the
    amount of subsidy you get.
  • Example 1 director retires AEFLA coordinator
    takes over as director no new coordinator hired
    subsidy decreased (reduced admin. expenditures)
  • Example 2 Offered fewer HSC courses but
    increased enrichment classes offered total
    expenditures remained the same but subsidy
    decreased (expenditures for enrichment classes
    not part of subsidy formula)

78
Other Issues
  • No Subsidy For General Courses (AKA Enrichment
    or Quality of Life)
  • No Subsidy For Equipment Purchase or Upkeep
  • Do not include in the subsiduzable categories any
    expenditures that were paid for by grants or
    other sources (except registration fees). These
    would be reported under a separate column on the
    form.
  • Carl Perkins CTE AEFLA Grants already on form
  • Other activity would be reported under a separate
    6__ Other column

79
How Do I Account For Fees We Collected?
  • Registration Fees Are Reported on the EFX-132 (at
    the bottom of page 3)
  • Registration Fees collected for subsidizable
    activities will be subtracted from allowable
    Supply expenditures

80
How Do I Account For Fees?
  • What are Fees for subsidizable courses?
  • Were the participants charged a fee to take the
    course (including lab and/or materials fees)?
  • Was that teachers salary reported (on the
    EFX-132) in one of the program categories that is
    eligible for subsidy?
  • If the answer to both questions is Yes, then you
    have Fees For Subsidizable Courses

81
Remember, if an expenditure isnt in one of the
asterisked cells, it will not be included in the
subsidy calculation!
82
Subsidy Amount is Prorated Based on Available
Funds
Current Rate is About 60 /- (subsidy reduced by
40)
83
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

84
Subsidy Calculation Worksheet
85
(No Transcript)
86
(No Transcript)
87
http//www.maine.gov/education/aded/dev/subsidy/ad
ult_education_year.htm
88
Got Questions?
  • Call - 624-6754
  • Email - andy.mcmahan_at_maine.gov
  • District level Bookkeeper Contact
    joanne.allen_at_maine.gov

89
Adult Education Finance For the Non-Financial
Manager
About PowerShow.com