W.A.S.D.A. NEW ADMINISTRATOR’S WORKSHOP BUILDING YOUR FIRST YEAR BUDGET THE STATE PERSPECTIVE...

W.A.S.D.A. NEW W.A.S.D.A. NEW ADMINISTRATOR’S ADMINISTRATOR’S

WORKSHOPWORKSHOPBUILDING YOUR BUILDING YOUR

FIRST YEAR BUDGET FIRST YEAR BUDGET

THE STATE PERSPECTIVETHE STATE PERSPECTIVEFebruary 1, 2006February 1, 2006

Jerry LandmarkJerry LandmarkKaren KucharzKaren Kucharz

SCHOOL FINANCE TEAM SCHOOL FINANCE TEAM

Our goal is to help you help yourself….but we’re always Our goal is to help you help yourself….but we’re always available in case you need more!available in case you need more! ““The most important outcome of formal education is The most important outcome of formal education is

to help students become independent of formal to help students become independent of formal education” – Paul Gray in Technology Revieweducation” – Paul Gray in Technology Review

Handouts:Handouts: Finance Team Home Page/Team Assignments; Finance Team Home Page/Team Assignments; The “Big Perspective” Road Map;The “Big Perspective” Road Map; Blank 06-07 Revenue Limit Worksheet;Blank 06-07 Revenue Limit Worksheet; Fund 10 Sample Budget; Fund 10 Sample Budget; Budget Adoption and Hearing Worksheets;Budget Adoption and Hearing Worksheets; Cost Increases vs. Revenue Limit Change;Cost Increases vs. Revenue Limit Change; Debt Timeline;Debt Timeline; Status & Deadlines;Status & Deadlines; Power Point SlidesPower Point Slides

How We Can Help YouHow We Can Help You

Get on our listserv – a weekly Get on our listserv – a weekly message updating you on school message updating you on school finance topics of concern- by finance topics of concern- by sending an email to one of the sending an email to one of the finance consultants;finance consultants;

Watch the WASDA Library Videos Watch the WASDA Library Videos presented by the Finance Team;presented by the Finance Team;

Attend one of the Spring Finance Attend one of the Spring Finance Workshops held in April.Workshops held in April.


Attend workshops sponsored by Attend workshops sponsored by WASDA & WASBO that we present at:WASDA & WASBO that we present at: ““Everything You Wanted to Know About Everything You Wanted to Know About

School Finance…..” March 15 in Madison, School Finance…..” March 15 in Madison, March 22 in Wisconsin Rapids; March 22 in Wisconsin Rapids;

Accounting Conference, March 29&30;Accounting Conference, March 29&30; ““Getting It Right” in October;Getting It Right” in October; School Finance Academy, July 19&20.School Finance Academy, July 19&20.


Become familiar with our website Become familiar with our website at:at:http://www.dpi.wi.gov/sfs/index.htmlhttp://www.dpi.wi.gov/sfs/index.html

Don’t hesitate to call one of us for Don’t hesitate to call one of us for questions or guidance!questions or guidance! See Handout “Finance Team Home See Handout “Finance Team Home

Page/Team AssignmentsPage/Team Assignments

The “Big Picture”The “Big Picture”Revenue Limit Calculation

Budget PlanningPapers

3rd Friday Count,Oct 1 Tax Values,

October 15 Aid

Certify Levies via

PI-401 & PC-401

(in portal)

Budget Adjustments to BOE

Send tax bills.

PI-1508

Budget Report PI-1504

Annual Meeting?

Helping You Develop Your Helping You Develop Your Budget Budget

Most Important: Revenue Most Important: Revenue LimitLimit

The 06-07 Revenue Limit is a key The 06-07 Revenue Limit is a key piece of your budgeting…..check piece of your budgeting…..check the link to the latest one we have the link to the latest one we have on the web site. on the web site.

Let’s take a brief look….Let’s take a brief look….





06-07 Revenue Limit



Revenue Limit CalculationBudget Planning

Papers

A Bird’s Eye ViewA Bird’s Eye View


Next: Comparing BudgetsNext: Comparing Budgets

Year 1 vs Year 2


What About Aid?What About Aid? Know what revenue you’re getting, and Know what revenue you’re getting, and

when you’ll receive it;when you’ll receive it; ~~Equalization Aid~~Equalization Aid

~~Tax Levies~~Tax Levies~~Categorical Aids~~Categorical Aids~~Federal Grants~~Federal Grants~~Local Fees~~Local Fees

Get some of these numbers from the “Aid Get some of these numbers from the “Aid Information” page on the left-hand sidebar of Information” page on the left-hand sidebar of our website.our website.

Use the “State Aids Payment Schedule” on our Use the “State Aids Payment Schedule” on our website scan bar to help determine cash flow.website scan bar to help determine cash flow.

Helping You Develop Your Helping You Develop Your Budget Budget Equalization AidEqualization Aid

There is little need to figure out your There is little need to figure out your equalization aid at this time to prepare for equalization aid at this time to prepare for the budget – the revenue limit determines the budget – the revenue limit determines how much money you have available. how much money you have available.

DPI will provide an estimate in April and DPI will provide an estimate in April and July.July.

Equalization aid plus the funds 10, 38 and Equalization aid plus the funds 10, 38 and 41 tax levies equal the revenue limit 41 tax levies equal the revenue limit amount.amount.

Helping You Develop Your Helping You Develop Your Budget Budget Equalization AidEqualization Aid

If you want to do an aid If you want to do an aid estimate before we give estimate before we give you one in April, use you one in April, use the Simplified the Simplified Percentage Method on Percentage Method on our website under our website under “Worksheets “Worksheets Executable”Executable”

Keep in mind we don’t Keep in mind we don’t have the 06-07 have the 06-07 guarantees or cost guarantees or cost ceiling numbers yet - ceiling numbers yet - any estimate will be any estimate will be little more than a guess little more than a guess - so, let’s look at 05-06.- so, let’s look at 05-06.

05-06 Equalization Aid


What About Debt?What About Debt?Debt is an important part of the Debt is an important part of the

budget process. Questions on budget process. Questions on refinancing or referendum debt refinancing or referendum debt should be referred to Gene should be referred to Gene Fornecker;Fornecker;

Info on debt is on our website – look Info on debt is on our website – look

for “Debt Reporting;”for “Debt Reporting;”

Is your debt in Fund 38 or 39?Is your debt in Fund 38 or 39?

Remember: Referendum debt does Remember: Referendum debt does not affect revenue limit, but it not affect revenue limit, but it DOES affect tax levy!DOES affect tax levy!


A Final Heads-Up About DebtA Final Heads-Up About Debt The debt levy is determined by The debt levy is determined by

calendar-year payments; the calendar-year payments; the budget reflects fiscal-year budget reflects fiscal-year payments.payments.

Debt Timeline

Helping You Develop Your Helping You Develop Your Budget Budget What’s New in What’s New in

Account Codes?Account Codes? Find out the latest accounting Find out the latest accounting

changes: click “WUFAR” on the left-changes: click “WUFAR” on the left-hand side bar of the web site.hand side bar of the web site.

It provides a number of help tools for It provides a number of help tools for school accounting, including:school accounting, including: Definitions;Definitions; Links to information in special areas Links to information in special areas

such as Membership – Debt Service – Tax such as Membership – Debt Service – Tax Transactions;Transactions;

Sample transaction coding;Sample transaction coding; Easy to access matrix for building Easy to access matrix for building

allowable codes.allowable codes.

Helping You Develop Your Helping You Develop Your BudgetBudget

What’s Fund Balance?What’s Fund Balance?

Do a cash flow analysis to help Do a cash flow analysis to help determine short-term determine short-term borrowing needs.borrowing needs.

Use our Fund Balance Use our Fund Balance Practices web page for help Practices web page for help with fund and cash balance.with fund and cash balance.

Sooner or later, someone will Sooner or later, someone will ask you to explain it to them!!!ask you to explain it to them!!!


Do You Need to Know What Others Are Do You Need to Know What Others Are Doing?Doing?

- it provides districts, - it provides districts, legislators, and general legislators, and general public direct reading public direct reading access to the DPI access to the DPI database. This is database. This is audited financial audited financial information. information.

The School Finance Data The School Finance Data WarehouseWarehouse can help you see what can help you see what other districts spend in a other districts spend in a particular area – and it has your particular area – and it has your history, too!history, too!


After the Preparation…..After the Preparation…..

Let’s look at the “Budget Let’s look at the “Budget Hearing and Adoption” Hearing and Adoption” worksheet on the web page…worksheet on the web page…

Budget Hearing & Adoption


Reporting to DPIReporting to DPIFind out what’s due and when – go Find out what’s due and when – go

to the “Reporting Portal” on the to the “Reporting Portal” on the web site. It’s on the “Status and web site. It’s on the “Status and Deadlines” page.Deadlines” page.

See Handout See Handout

Looking at it in a different way…..Looking at it in a different way…..

Calculate Revenue Limit

Total all sources of revenue

Calculate salaries, wages, and fringe benefits

Calculate a budget for educational programs

Outline ExpectedCash flow

Calculate a budget for “fixed”expenses i.e. heat, utilities,

non-referendum debt

Is end result balanced….?Cuts? Use Fund Balance?

SCHOOL FINANCE SCHOOL FINANCE WEB PAGE:WEB PAGE:

http://www.dpi.wi.gov/sfs/http://www.dpi.wi.gov/sfs/index.htmlindex.html

Please contact us with Please contact us with questions or comments!questions or comments!

Or call:Or call:

Lori Ames, Consultant, 264-3464Lori Ames, Consultant, 264-3464 Brad Adams, Consultant, 267-3752Brad Adams, Consultant, 267-3752 Karen Kucharz, Consultant, 267-9707Karen Kucharz, Consultant, 267-9707 Jerry Landmark, Assistant Dir., 267-Jerry Landmark, Assistant Dir., 267-

92099209 Gene Fornecker, Auditor, 267-7882Gene Fornecker, Auditor, 267-7882 Natalie Rew, Auditor, 267-9212 Natalie Rew, Auditor, 267-9212 Kathryn Guralski, Auditor, 266-3862Kathryn Guralski, Auditor, 266-3862 David Carlson, Director, 266-6968David Carlson, Director, 266-6968

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W.A.S.D.A. NEW ADMINISTRATOR’S WORKSHOP BUILDING YOUR FIRST YEAR BUDGET THE STATE PERSPECTIVE...

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