11/6/2015 FY2010 Final Budget · 11/6/2015 FY2010 Final Budget
Illinois State Board of Education 1 FY2010 Annual Financial Reports.
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Transcript of Illinois State Board of Education 1 FY2010 Annual Financial Reports.
![Page 1: Illinois State Board of Education 1 FY2010 Annual Financial Reports.](https://reader035.fdocuments.in/reader035/viewer/2022081519/56649f335503460f94c4fbfe/html5/thumbnails/1.jpg)
Illinois State Board of Education
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FY2010Annual Financial Reports
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23 ILLINOIS ADMINISTRATIVE CODE, Part 100
ISBE Web Page (www.isbe.net)http://www.isbe.net/rules/archive/pdfs/100ARK.pdf
Illinois General Assembly Web Pagehttp://www.ilga.gov/commission/jcar/admincode/
023/02300100sections.html
School District AFR
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ISBE Webpage - www.isbe.net
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Rules are available here for viewing
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Fund Account Balance Sheet XX XXXRevenue XX XXXX
Fund Function Object “Source”
Expenditure XX XXXX XXX (xxxx)
Additional Codes:
- Transaction Type X - Fiscal Year XX
State Reporting Requirements
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ISBE Form 50-35
FY2010 Change
s
School District - AFR
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School District AFR
Pages 7 & 8
Tort Fund (80)
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TORT IMMUNITY
A Separate Tort Immunity Fund (80) Was Created, effective FY2009.
This Fund Is Required if Taxes Are Levied or Bonds Are Sold for Tort Immunity or Tort Judgment Purposes.
All “New” Tort Immunity Monies Are Deposited and Accounted for in Fund 80.
School District AFR
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School District AFR
Page 7
7000Accts.
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School District AFR
Page 8
8000Accts.Accounts – 8410 thru 8910
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OTHER SOURCES/USES OF FUNDS
Expanded 8000 Accounts (Other Uses) for Pledged Transfers to Debt Service Fund (30) or Capital Projects Fund (60)
School District AFR
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School District AFR
Tort Fund (80)
Page 21
Added Accounts – 2371 & 2372
Disbursements/Expenditures
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TORT FUND (80) - New Expenditure Accounts
Added:- Function 2371 - Property Insurance (Building & Grounds)- Function 2372 - Vehicle Insurance (Transportation)
Also - See the School Code, Sections 17-7 and 17-8 on Insurance Premiums for School Buildings, School Fixtures, Transportation and Related Costs.
School District AFR
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School District AFR
Fire Preventi
on & Safety Fund (90)
Page 22
Added Accounts – 5200 & 5300
Disbursements/Expenditures
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FIRE PREVENTION & SAFETY FUND (90) – New Expenditure Accts.
Debt Services - Accounts for Principal & Interest on Long-Term Debt
Added:- Function 5200 – Interest on Long-Term Debt- Function 5300 – Payment of Principal on Long-Term Debt
School District AFR
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SCHEDULES AND RELATED INFORMATION
Financial Profile ARRA Schedule of Receipts & Disbursements
Schedules of Restricted Taxes & Selected Revenues
Schedule of Capital Outlay Operating Expenditures & Per Capita Costs Schedule of Indirect Cost Data
School District AFR
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Financial Profile(Page 4)
“Operating Funds”
• Educational
• O&M
• Transportation
• Working Cash
School District AFR
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FINANCIAL PROFILE
Calculated Two Ways to Account for Delays in General State Aid (GSA) or Mandated Categorical Aid (MCAT) Due to School Districts: (1) Utilizing A Base Calculation (AFR estimate – Page 4), and
(2) Additional Revisions to this Calculation (by ISBE) to Adjust for Applicable Late Payments of GSA or MCATs.
School District AFR
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FINANCIAL PROFILE – Changes In Base (est.) Calculation
Adjustments to Revenues for Debt Services or Capital Projects (only from Funds 10 & 20)New Accounts 8410 – 8910 (Other Uses - AFR, Page 8) for Pledged Transfers to Debt Service Fund (30) or Capital Projects Fund (60). Includes Taxes, Grants, Other Revenues, but not Fund Balances.
Adjustments to Fund Balance for Deficit in Tort Fund (80). Treated the Same as MR/SS Fund (50)
School District AFR
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FINANCIAL PROFILE - GSA & MCATS
Additional Calculations (by ISBE) for Late Payments:
For Cash Basis School Districts, adjustments are made to Fund Balance, Revenue and Cash. Amounts are determined from delays in payments for the current year and prior year.
For Accrual Basis Districts, Only Cash Is Adjusted
School District AFR
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School District AFR
ARRASchedule of Receipts &
Disbursements
(Page 23)Districts Must
Document Expenditures with Fund, Function,
Object, and Revenue Account Codes for ARRA Expenditures
Within Detailed Ledger Reports
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School District AFR
Schedule of
Restricted Taxes & Selected RevenuesPage 26
New Reporting
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SCHEDULE OF RESTRICTED LOCAL TAX LEVIES AND SELECTED REVENUE SOURCES
New Reporting Added – The School Facility Occupation Taxes
Added – Driver Education Also – The Tort Immunity Sections on This
Page Should Be Completed Only If Expenditures Are Reported in a Fund Other Than Tort Immunity Fund (80) as a Result of Existing (restricted) Fund Balances.
School District AFR
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Schedule of Capital
Outlay (Page 27)
Non – Capitalized Equipment
School District AFR
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NON-CAPITALIZED EQUIPMENT
A Capital Asset - Except the Cost Is Less Than the Capitalization Threshold Adopted by the School Board.
School District AFR
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Operating Expenditures & Per Capita
Costs(Pages 28 & 29)
Less Activity Not Applicable to Regular K-12 Programs
Total Expenditures
School District AFR
Operating Expenditures Per Pupil
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Operating Expenditures & Per Capita
Costs(Pages 28 & 29)
Less Offsetting Revenues
School District AFR
Includes Adjustment for Offsetting Revenues from State Sources Except Those from the Common SchoolFund and Federal Sources Except Those from Federal Impaction Aid
• Acct 4850 ARRA General State Aid – Education Stabilization
• Acct 4870 ARRA General State Aid – Other Government Services Stabilization
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Schedule of Indirect Cost
Data (Page 30)
School District AFR
Termination BenefitsObject 800
Limited – Only Payments Made to Terminated or Retiring Employees as Compensation for Unused Sick or Vacation Days.
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Questions ?
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School Business Services Division
217/785-8779
http://www.isbe.net/sbss/default.htm