1 Illinois State Board of Education 1 Changes to the FY2010 Annual Financial Report (AFR) Presenters: Christine Kolaz, Lou Ferratier Debbie Hemberger, Ken Wargo

2 Cover Page: New Requirements for Cook County Only  All Regional superintendent duties will now be done by the Intermediate Service Centers (ISC) in Cook County. - Districts are now required to send the AFRs to the ISC for signatures. - See our website for a list of ISCs and their districts.

3 3  #21. If the district falls under the tax cap law, be sure to check this box and enter the effective date.  The audit questionnaire page must be certified by the auditing firm. The electronic AFR can have a typed signature but the paper copy must have a business signature (hand written or stamped). Audit Questionnaire (Page 2) Part C – Other Issues

4 4 Financial Profile Information (page 3) Clarification of Long-Term Debt  Section D. Long-Term Debt refers to All Long-Term Debt Outstanding. - This includes Bonds, Leases, and Other Debt Obligations. - The amount in cell H37 is linked from page 6, Cell N36.

5 Statement of Assets and Liabilities:  Amount to be Provided for Payment on Long-Term Debt, Cell N22 and is linked to page 25, J49.  Long-Term Debt Payable, Page 6, Cell N36 is linked to page 25, I49. Clarification of Long-Term Debt (cont.)

6 Schedule of Long-Term Debt (Page 25)  All Long-Term Debt must be listed on the Schedule of Long-Term Debt. This includes Leases, (Transportation Fund too), and Other Long-Term Obligations. - These are a crucial part of the Financial Profile calculation.

7 Schedule of Capitalized Outlay & Depreciation (Page 27)  Allowable Depreciation, Cell I20 must be entered to accurately calculate the Per Capita Tuition Charge.

8 Operating Expense Per Pupil (OEPP)/Per Capita Tuition Charge (PCTC), (Page 28 & 29)  Cells F136 through F159 are ARRA revenues that are backed out of the PCTC. The ARRA Total is on line F160. The rows are hidden to keep the number of pages down to a minimum. - These cells are expandable by first highlighting rows 135 and Select: Format – Rows – Unhide. This will show all the rows between 135 and To re-hide the rows, simply select undo until the rows are re-hidden.

9 Estimated OEPP/PCTC for  The Final OEPP/PCTC for are no longer verified. - The districts can now locate the final calculations on our website. - The current state OEPP/PCTC’s are available at:

10 Embedding PDF and Word Files (page 34)  All supporting documentation must be embedded into the Opinion-Notes If you can embed pdfs and word files there is no need to send additional file copies with the AFR. This is only necessary if you cannot embed the files. - Please do not embed excel files. Instead add them as additional sheet and rename the tab. - If you amend the AFR at a later date, these files must be embedded in the amended file. If you want us to use the previously embedded files you need to tell us.

11 Unprotecting the A-133 Federal Compliance Reports  A-133 sheets from pages 35 through 44 have a blank password. This means you can unprotect these sheets if absolutely necessary for additional space or corrections. - However, these pages are formatted to ISBE’s specifications and should remain in the same basic format. - To unprotect select: Tools – Protection – Unprotect Sheet.

12 Downloading & Submitting FY10 AFR  To download and submit, go to: - All the information is there, including the ISBE presentations.

13 Due Dates  AFRs are due to the Regional Office of Education (ROE)/Intermediate Service Centers (ISC) by October 15,  AFRs are due to ISBE by November 15, 2010 (unless an extension is granted).  Extension of Time can be obtained by the ROE/ISC up to December 15,  ROE’s must submit a copy of the approval letter to ISBE by fax, , or postal service.

14 School Business Services Division Office Phone: 217/ Office Fax: School Business Debbie Hemberger: Christine Kolaz: Questions?