Why FFB?Why FFB?
Allow unique identity for each budgetAllow unique identity for each budget
Tracked separately from other fundsTracked separately from other funds
Easy to report finances for only one Easy to report finances for only one projectproject
TopicsTopics
Getting to know Budget NumbersGetting to know Budget Numbers– What do those 19 numbers mean?What do those 19 numbers mean?– Exercise: examining a fully financed budgetExercise: examining a fully financed budget
From grant budget to green worksheetFrom grant budget to green worksheet– Exercise: magnet grant budgetExercise: magnet grant budget
From Green worksheet to ed524From Green worksheet to ed524
From Green worksheet to Fully Financed budget From Green worksheet to Fully Financed budget formsforms– Exercise: Magnet Green worksheet to FFB formExercise: Magnet Green worksheet to FFB form
29-005-352-610-6430-345029-005-352-610-6430-3450
29 = Fund29 = Fund
005 = Organization (org)005 = Organization (org)
352 = Program (Prog)352 = Program (Prog)
610 = Finance (Fin)610 = Finance (Fin)
6430 = Object (Obj)6430 = Object (Obj)
3450 = Course3450 = Course
What is a Fund?What is a Fund?
Indicates the source of moneyIndicates the source of money
Schools and programs typically have more Schools and programs typically have more than one fundthan one fund
Each fund has its own rulesEach fund has its own rules
Examples:Examples:– 01 = General Fund01 = General Fund– 21 = Compensatory Aid21 = Compensatory Aid– 29 = Fully Financed29 = Fully Financed
What is an ORG?What is an ORG?
A district-assigned numberA district-assigned number
Might be a school numberMight be a school number– 210 = Central High School210 = Central High School– 410 = Adams Elementary410 = Adams Elementary
Could be district-wideCould be district-wide– 005 = District Wide005 = District Wide
What is a Program?What is a Program?
Designates instructional or support Designates instructional or support services provided with fundingservices provided with funding– 050 = School Administration050 = School Administration– 230 = Foreign Language230 = Foreign Language– 610 = Curriculum Development610 = Curriculum Development
What is Finance?What is Finance?
Defines a specific local, federal, or state Defines a specific local, federal, or state project or duty (assigned by funder)project or duty (assigned by funder)– 315 = Desegregation Aid and Levy315 = Desegregation Aid and Levy– 306 = Staff Development306 = Staff Development– 000 = no designation000 = no designation
300 codes are state funds300 codes are state funds
400 codes are federal through state funds400 codes are federal through state funds
500 codes are federal direct funds500 codes are federal direct funds
Object CodesObject Codes
Identifies the service or commodity Identifies the service or commodity purchased or receivedpurchased or received5XXX is a revenue5XXX is a revenue– 5096 = Gift or Private Grant5096 = Gift or Private Grant– 5620 = Fundraiser Sales Receipts5620 = Fundraiser Sales Receipts
6XXX is an expense6XXX is an expense– 6143 = Teacher/Counselor Salary6143 = Teacher/Counselor Salary– 6401 = Non-Instructional Supplies6401 = Non-Instructional Supplies– 6555 = Technology Equipment6555 = Technology Equipment
Course CodesCourse Codes
Used to identify unique grants/projectsUsed to identify unique grants/projects– 1080 = Preschool Incentive1080 = Preschool Incentive– 2570 = Medtronic Grant2570 = Medtronic Grant– 3500 = PEP Grant3500 = PEP Grant– 0000 = No Designation0000 = No Designation
Which code to use?Which code to use?
Most Fully Financed budgets have all but Most Fully Financed budgets have all but the object code “fixed”the object code “fixed”
The budget number is provided like thisThe budget number is provided like this
29-005-240-000-XXXX-350029-005-240-000-XXXX-3500
The XXXX is the object code, and these The XXXX is the object code, and these will be the only numbers that can change.will be the only numbers that can change.
Object Codes – the breakdownObject Codes – the breakdown
All expense codes will start with a 6All expense codes will start with a 6
61XX = Salary / Personnel Costs61XX = Salary / Personnel Costs
62XX = Benefits62XX = Benefits
63XX = Fees63XX = Fees
64XX = Supplies64XX = Supplies
65XX = Capital65XX = Capital
68XX = Miscellaneous68XX = Miscellaneous
61XX – Salary & Personnel61XX – Salary & Personnel
6110 = Administrators (in title not function)6110 = Administrators (in title not function)6130 = Teaching Assistants - Classroom6130 = Teaching Assistants - Classroom6131 = Educational Assistants - Classroom6131 = Educational Assistants - Classroom6140 = Licensed Classroom Teachers6140 = Licensed Classroom Teachers6141 = Non-Licensed Classroom (JROTC, etc.)6141 = Non-Licensed Classroom (JROTC, etc.)6143 = Licensed Instructional Support (TOSA, Nurse, 6143 = Licensed Instructional Support (TOSA, Nurse,
Counselor, Social Worker, etc.)Counselor, Social Worker, etc.)6144 = Non-Licensed Non-Classroom (TAs, EAs, etc.)6144 = Non-Licensed Non-Classroom (TAs, EAs, etc.)6145 = Substitute Teachers6145 = Substitute Teachers6170 = Non-Instructional Support (Clerical, Accounting, 6170 = Non-Instructional Support (Clerical, Accounting,
Evaluator)Evaluator)6185 = Other Salary Payments (usually hourly pay)6185 = Other Salary Payments (usually hourly pay)
62XX = Benefits62XX = Benefits
6210 =6210 = FICA (social security/Medicare)FICA (social security/Medicare)
6214 =6214 = PERA (Public Employees Retirement PERA (Public Employees Retirement Association)Association)
6218 =6218 = TRA (Teachers Retirement Association)TRA (Teachers Retirement Association)
6220 =6220 = Employee Insurance (Employer Paid)Employee Insurance (Employer Paid)
6250 =6250 = TSA / Deferred CompensationTSA / Deferred Compensation
6296 =6296 = Professional Growth (per employee Professional Growth (per employee contract)contract)
63XX = Fees63XX = Fees
6305 = Fees for Services (Consultants, contracts, 6305 = Fees for Services (Consultants, contracts, etc.)etc.)
6320 = Communication services (telephones)6320 = Communication services (telephones)6329 = Postage / Parcel Services6329 = Postage / Parcel Services6350 = Repair / Maintenance Services6350 = Repair / Maintenance Services6360 = Field Trip Buses / Taxi Fare6360 = Field Trip Buses / Taxi Fare6366 = Travel & workshops – in-state6366 = Travel & workshops – in-state6368 = Travel & workshops – out-of-state6368 = Travel & workshops – out-of-state6395 = Field Trip Admission Fees6395 = Field Trip Admission Fees
Travel DetailsTravel Details
Sometimes the in-state / out-of-state logic Sometimes the in-state / out-of-state logic doesn’t apply:doesn’t apply:
6368 is only used for out-of-state travel for 6368 is only used for out-of-state travel for Federally Funded grants only (e.g. for Federally Funded grants only (e.g. for grantee conferences in Washington, D.C.)grantee conferences in Washington, D.C.)
If funding comes from a private foundation If funding comes from a private foundation or non-Federal funds, all travel is under or non-Federal funds, all travel is under object code 6366.object code 6366.
64XX = Supplies64XX = Supplies
6401 = Supplies for staff (office supplies,6401 = Supplies for staff (office supplies,Professional Development Professional Development
materials, materials, etc.)etc.)
6430 = Instructional Supplies for students6430 = Instructional Supplies for students
6460 = Textbooks6460 = Textbooks
6461 = Standardized Testing Materials6461 = Standardized Testing Materials
6490 = Food6490 = Food
65XX = Capital65XX = Capital
6520 = Building acquisitions/construction6520 = Building acquisitions/construction
6530 = Equipment – not technology6530 = Equipment – not technology
6555 = Technology equipment6555 = Technology equipment
68XX = Miscellaneous68XX = Miscellaneous
6820 = Dues and professional 6820 = Dues and professional membershipsmemberships
6895 = Indirect costs6895 = Indirect costs– Rate of reimbursement if set by MDE annuallyRate of reimbursement if set by MDE annually– Not all grants will have indirect costs Not all grants will have indirect costs
budgetedbudgeted– If indirect is budgeted, only the first $25,000 of If indirect is budgeted, only the first $25,000 of
contracts is included in the calculation, and no contracts is included in the calculation, and no capital expenditures are included.capital expenditures are included.
Submit to the Business OfficeSubmit to the Business Office
The Fully Financed Form – both sheetsThe Fully Financed Form – both sheets
The award notice from the funderThe award notice from the funder
The check (if you have it already)The check (if you have it already)
Revising a FFBRevising a FFB
Necessary if lines are changing by 10% or Necessary if lines are changing by 10% or more.more.
Must be pre-approved by funderMust be pre-approved by funder
Follow same procedure as the original Follow same procedure as the original FFB form; it will not be the original.FFB form; it will not be the original.
Submit funder approval with revised FFBSubmit funder approval with revised FFB