1

Financial Management Updateand eFACTS+TASBO Red River

Tom Canby, Director of Research and TechnologyTASBOFebruary 10, 2010

2

Presentation Topics

School FIRST Single Audit Update 14 FASRG Projects eFACTS+

3

School FIRST

65 % Expenditure Requirement Indicators 13 and 14 Deleted from School FIRST

Ratings to be issued June 2010

4

Single Audit

Small enrollment ISDs Federal Funds FSP Summary of Finances Are total federal fund expenditures =>

$500,000? Expanded audit Single Audit Act▪ OMB Circular A-133

Contact Independent Auditor

5

Update 14 FASRG

Changes 81st Legislative Session Other

Optimum Fund Balance and Cash Flow Worksheet

Definitional Changes Account Codes▪ Program Intent Codes▪ Effective immediately unless otherwise stated

ARRA▪ Fund Codes

6

Fund Balance and Cash Flow Worksheet

Changes Minimum recommended amount 2 months▪ Best Practices Update Government Finance

Officers Association (GFOA)

7

8

Fund Codes

Updates to Fund Code Titles New Fund Codes

ARRA

9

Object Codes

Exclude from 6399 Items < $5,000 Meet local capitalization policy Record under ▪ 6649, Capital Assets - Other - Locally Defined

Groupings ▪ 6669, Library Books and Media

10

Object Codes

6291, Consulting Services Clarification added to definition

Consulting does not include a routine service/activity that is necessary to the functioning of a school district’s programs, such as hiring additional people on contract to supplement present staff. It also does not apply to services provided to conduct organized activities (such as training or other similar educational activities.)

11

Program Intent Codes

New 31 High School Allotment

Change 25 Bilingual ESL▪ Do not report entire salary▪ Stipends only for salary

12

Budget Amendments

Clarification Must occur before end of fiscal year Best practice▪ Amend as soon as increase is projected for a

function code in legally adopted fund▪ 199, General Fund▪ 599 Debt Service▪ 101, 240, 701 Food Service

13

Competitive Procurement Increase in threshold to $50,000 Has ISD amended local policies and

administrative procedures? Federal awards

No exemption to procurement of professional services

Contracts > $100,000 Code of ethics▪ Are there conflicts of interest involving staff that

have control over federal funds▪ Real or apparent

14

ARRA

Corrections Requested Staff FTEs saved or funded Prior Quarter Only October 1 – December 31, 2009 Corrections Due February 28, 2010 Submit Expenditure Reporting (ER)

system

15

ARRA Con’t….

Report Corrections for ARRA Title I, Part A ARRA Title I, Part D, Subpart 2 ARRA Title I, School Improvement Grant ARRA Title II, Part D Education Technology

(formula and discretionary) ARRA IDEA-B Formula ARRA IDEA-B Preschool ARRA State Fiscal Stabilization Fund ARRA McKinney Vento Homeless

16

ARRA Con’t….

Confirm that the FTEs reported were calculated using the new guidance (available at http://ritter.tea.state.tx.us/edex/docs/1512QuarterlyReportingv3.pdf). 

17

Projects

HB 1705 DIR assist TEA implement▪ Standards ▪ Finance Systems▪ Student Systems

Sunset Administrative Rules Lighten load ISDs and Charter Schools

KPI Data Collection SystemKPI Data Collection System by Operational CategoryIT KPI Data Collection Systemhttp://www.surveymonkey.com/s/KKF7FS3 Maintenance & Operations KPI Data Collection Systemhttp://www.surveymonkey.com/s/KKMXVHW Transportation KPI Data Collection Systemhttp://www.surveymonkey.com/s/KKRR5PC Human Resources KPI Data Collection Systemhttp://www.surveymonkey.com/s/KKNFYBT 

KPI Data Collection System Con’t….

Payroll KPI Data Collection Systemhttp://www.surveymonkey.com/s/KKNHGKZ Financial Management and Budget KPI Data Collection Systemhttp://www.surveymonkey.com/s/KKXP6NM Accounts Payable KPI Data Collection Systemhttp://www.surveymonkey.com/s/KKNJCCG Procurement/Supply Chain KPI Data Collection Systemhttp://www.surveymonkey.com/s/KKMZL2D 

KPI Data Collection System Con’t….

Safety Security KPI Data Collection Systemhttp://www.surveymonkey.com/s/KKXQS5Q Food Service KPI Data Collection Systemhttp://www.surveymonkey.com/s/KKTCJK2 KPI Data Collection System – All Operational

Categories Listed Above (This all-in-one survey may be preferred when one employee is charged with collecting data for all operational areas)

http://www.surveymonkey.com/s/W2ZLLDT

KPI Data Collection System Con’t….

KPI Data Collection System – All Operational Categories Listed Above (This all-in-one survey may be preferred when one employee is charged with collecting data for all operational areas)

http://www.surveymonkey.com/s/W2ZLLDT

22

23

eFACTS+ Demos

Access TASBO web site Resources

Professional Version How to... Demos▪ Intro to Professional ▪ Viewing a Report in Professional ▪ Building a Report ▪ Building a Report2 ▪ Sorting ▪ Chart Features ▪ Opening Canned Reports ▪ Opening District and Campus Cubes ▪ Scattergraph

24

eFACTS+ Training

Onsite No charge Contact Michael Hancock 512.462.1711 X 234 mhancock@tasbo.org