Year-end Reporting in ePlan August 2016 Maryanne Durski, Executive Director, Office of Local Finance

Agenda

Agenda FY16 “To Do’s” before starting the FER FER reminders What’s new in year-end reporting Demonstration of a complete FER State Funds notes Still to come... A Word about FY17 Budgets Final Tips Questions?

FY16 “To Do’s” Before Starting the FER

Reimbursement Requests FY16 –Reimbursement Requests for FY15-16 Expenditures prior to June 30 should now be requested as part of the FER process If you have submitted a reimbursement request for FY16 funds, you cannot begin the FER for that grant until the reimbursement request is marked “Paid” in ePlan.

FY16 Revisions Complete any revisions already in process prior to beginning the FER Application must be in approved status before you can begin the FER State Funds budgets should reflect the final amended budget from your general ledger

Other Federal Funds Other Federal Funds are direct federal grants that do not run through the state Districts that receive these must enter budgeted revenues and expenditures for FY16 into ePlan Move FY16 Other Federal Funds application through the approval process Once it is in “TDOE Other Federal Funds Director Approved” status you may begin the FER

Other Federal Funds Project Aware districts – report all expenditures from July 1, 2015 through June 30, 2016 – even though grant did not go onto ePlan until Oct. 1, 2015 TIF grants –Not on ePlan in FY16 –Send spreadsheet with revenues, expenditures and fund balances OR –Send a printout from your accounting software –Send to

FER Reminders

Final Expenditure Report Final Expenditure Report (FER) –Covers expenditures incurred between July 1, 2015 to June 30, 2016 –Due as soon as possible in ePlan, no later than August 31

Final Expenditure Report - Carryover Carryover (if applicable) loaded ONLY after FER is completed – part of the FER process Carryover will move into new grant application where it will need to be budgeted –This applies to Safe Schools – new this year

FER – Before you begin Application must be in Approved status All pending reimbursement requests must be paid OR If a reimbursement request has been started for FY16, it may be deleted prior to beginning the FER; reimbursement will be made as part of the FER process. If there is a reimbursement request for a negative amount, delete the request. “Excess” funds will be moved to FY17 as cash on hand (if grant has carryover) or refunded to state.

FER – Before you begin If you plan to upload data, create file from your local accounting system Directions to convert file to ePlan format are located in TDOE Resources

FER – Before you begin PowerPoint from webinar is located in TDOE Resources under Cross-cutting Fiscal Materials

What’s New in Year-end Reporting

New in ePlan All end-of-year financial reporting is now in ePlan –Balance Sheet Assets Liabilities Fund Balance/Reserves –Actual Revenues –Actual Expenditures –Other Year-end Reports Items available when in “FER Draft Started” status

New in ePlan Reporting of revenues, expenditures and balance sheet required for all grants except: –Coordinated School Health –Family Resource Center –Safe Schools –Voluntary Pre-K As of Aug. 9, 2016 actual revenues, final expenditures and balance sheet items may be uploaded or keyed in manually

New in ePlan Revenue, expenditure and balance sheet amounts should be entered including “cents”. If uploading, amounts may be rounded in the file from your accounting system. This is OK, but may cause balancing issues (totals may be out of balance by a dollar or more – make adjustments in ePlan to balance).

Demonstration of FER

FER - Procedure End of Fiscal Year All application revisions complete No intent to further revise budget No pending Reimbursement Requests LEA changes status to “FER Draft Started”

FER - Procedure LEA is now in the FER workflow –No more budget or application revisions allowed –May not create any new Reimbursement Requests Each grant section now contains: –Actual Revenue –Final Expenditures –Balance Sheet –FER Summary Report 1 –FER Summary Report 2 Some grants will also have a Final Expenditure Report section including Carryover

FER - Procedure

To upload Revenues, click “Upload Revenue Data”.

FER - Procedure Click “Choose file” Once file is chosen, click “Create”

FER - Procedure Click “Process Revenue Upload”

FER - Procedure Actual revenue is now loaded into the FER

FER - Procedure Repeat Process for Balance Sheet data –Beginning of Year Reserves have been loaded into ePlan –Make any adjustments necessary to Beginning of Year Reserves –For grants where one subfund may be used for multiple grants (e.g. Other Federal Funds, IDEA Discretionary Grants, Perkins Discretionary Grants, etc.) Beginning of Year Reserves should be entered as an adjustment on the Balance Sheet for these grants –You may have negative reserves

FER - Procedure Balance Sheet adjustment

FER - Procedure Expenditures –For federal funds Final expenditures will pre-load with most recent reimbursement request data Manually key in any changes –For “State Funds” and “Other Federal Funds” Expenditures may be uploaded or manually keyed Exception: If there is an expenditure in a line with nothing budgeted: You may do a budget revision to put at least $1 in that line item and then key in expenditures OTHERWISE You MUST upload expenditures so that a value can load into that line item; keying in expenditures will not be an option

FER Summary Report 1 Compares total assets to total liabilities plus fund balance If not in balance, correct errors on Balance Sheet so that FER Summary Report 1 balances If not, you will have an error message and not be able to complete the FER

FER Summary Report 2 Compares Total Available Funds to Total Expense plus End of Year Reserve plus Fund Balance If not in balance, correct errors in report so that Summary Report 2 balances If not, you will have an error message and not be able to complete the FER

FER Summary Report 2

FER – Validation Once all data is in – CHECK VALIDATION MESSAGES –On Sections page –Errors will prevent you from completing the FER –Warnings are for information

FER - Validation Click on “Messages” to see what the error/warning is

FER -Completion Once all data is entered and all validation errors are cleared, click “FER Draft Completed”

FER - Completion LEA Fiscal Representative will approve LEA Authorized Representative will approve State will approve FER is completed

State Funds Notes

FER – State Funds Final amended budget (revenues and expenditures) must be entered into ePlan as a Revision to State Funds before the FER can be started Process is the same as for revisions in other ePlan grants

FER – State Funds The following information needs to be uploaded/entered for all funds under the State Funds heading –Actual revenue –Final expenditures –Balance sheet Actual Revenues, Final Expenditures and Balance Sheet data can be uploaded or entered manually

FER – State Funds Revenues –If uploading, clear out any reserve amounts that may have loaded into the Actual Revenues page in error –There should be no amounts in the Reserves lines on the Actual Revenues page

FER – State Funds Balance Sheet –Beginning of Year Reserves are already loaded into the balance sheet –Make any necessary adjustments in the “Adjustment” column Audit adjustments Encumbrances

FER – State Funds Expenditures –May be uploaded or entered manually –10% “overage” restriction does NOT apply in State Funds grants –If there is an expenditure in a line with nothing budgeted: You may do a budget revision to put at least $1 in that line item and then key in data OTHERWISE You MUST upload expenditures so that a value can load into that line item; keying in expenditures will not be an option

FER – State Funds Other Year-end Reports –Now available on ePlan –Complete by entering data into reports – same process as in eReporting

Still to Come...

Career Ladder Report –Ending balance of report will now become beginning balance of the next year’s report –Reserve will no longer feed from FER to the Career Ladder Report –Should ensure more accurate reporting and integrity of data

A Word About FY17 Budgets

FY17 Budgets Due in ePlan by Oct. 1, % Fund Balance and Maintenance of Effort tests are now in ePlan under FY17 State Funds application 3% Fund Balance test will not calculate correctly until you have entered the FER for the FY16 General Purpose Budget

FY17 Budgets Maintenance of Effort test (MOE) will not calculate correctly until FY16 final budget revisions and FY17 budgets are entered If either test fails, contact your fiscal consultant or the Office of Local Finance –MOE test at level 2 can be run in Nashville if needed

Final Tips

Complete the FER for the following grants by Aug. 10: –Coordinated School Health –Family Resource Center –Safe Schools –Voluntary Pre-K

Final Tips When creating the upload file, to increase the speed of the upload, you may want to: –Remove any line items that are “0” Check totals against your general ledger as you go –Revenue totals by category and overall total –Expenditures by category/total –Reserves Check validation messages on Sections page – click on hyperlinks to take you to the problem

Final Tips You may have negative assets, negative liabilities and/or negative reserves You may not have negative revenues or expenditures Be sure there are no “Reserves” amounts on the “Actual Revenues” page; if loaded in error, remove by entering “0”

Questions?

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