Fully Financed Budgets Saint Paul Public Schools

Why FFB? Allow unique identity for each budget Tracked separately from other funds Easy to report finances for only one project

Topics Getting to know Budget Numbers –What do those 19 numbers mean? –Exercise: examining a fully financed budget From grant budget to green worksheet –Exercise: magnet grant budget From Green worksheet to ed524 From Green worksheet to Fully Financed budget forms –Exercise: Magnet Green worksheet to FFB form

= Fund 005 = Organization (org) 352 = Program (Prog) 610 = Finance (Fin) 6430 = Object (Obj) 3450 = Course

What is a Fund? Indicates the source of money Schools and programs typically have more than one fund Each fund has its own rules Examples: –01 = General Fund –21 = Compensatory Aid –29 = Fully Financed

What is an ORG? A district-assigned number Might be a school number –210 = Central High School –410 = Adams Elementary Could be district-wide –005 = District Wide

What is a Program? Designates instructional or support services provided with funding –050 = School Administration –230 = Foreign Language –610 = Curriculum Development

What is Finance? Defines a specific local, federal, or state project or duty (assigned by funder) –315 = Desegregation Aid and Levy –306 = Staff Development –000 = no designation 300 codes are state funds 400 codes are federal through state funds 500 codes are federal direct funds

Object Codes Identifies the service or commodity purchased or received 5XXX is a revenue –5096 = Gift or Private Grant –5620 = Fundraiser Sales Receipts 6XXX is an expense –6143 = Teacher/Counselor Salary –6401 = Non-Instructional Supplies –6555 = Technology Equipment

Course Codes Used to identify unique grants/projects –1080 = Preschool Incentive –2570 = Medtronic Grant –3500 = PEP Grant –0000 = No Designation

Which code to use? Most Fully Financed budgets have all but the object code “fixed” The budget number is provided like this XXXX-3500 The XXXX is the object code, and these will be the only numbers that can change.

Object Codes – the breakdown All expense codes will start with a 6 61XX = Salary / Personnel Costs 62XX = Benefits 63XX = Fees 64XX = Supplies 65XX = Capital 68XX = Miscellaneous

61XX – Salary & Personnel 6110 = Administrators (in title not function) 6130 = Teaching Assistants - Classroom 6131 = Educational Assistants - Classroom 6140 = Licensed Classroom Teachers 6141 = Non-Licensed Classroom (JROTC, etc.) 6143 = Licensed Instructional Support (TOSA, Nurse, Counselor, Social Worker, etc.) 6144 = Non-Licensed Non-Classroom (TAs, EAs, etc.) 6145 = Substitute Teachers 6170 = Non-Instructional Support (Clerical, Accounting, Evaluator) 6185 = Other Salary Payments (usually hourly pay)

62XX = Benefits 6210 =FICA (social security/Medicare) 6214 =PERA (Public Employees Retirement Association) 6218 =TRA (Teachers Retirement Association) 6220 =Employee Insurance (Employer Paid) 6250 =TSA / Deferred Compensation 6296 =Professional Growth (per employee contract)

63XX = Fees 6305 = Fees for Services (Consultants, contracts, etc.) 6320 = Communication services (telephones) 6329 = Postage / Parcel Services 6350 = Repair / Maintenance Services 6360 = Field Trip Buses / Taxi Fare 6366 = Travel & workshops – in-state 6368 = Travel & workshops – out-of-state 6395 = Field Trip Admission Fees

Travel Details Sometimes the in-state / out-of-state logic doesn’t apply: 6368 is only used for out-of-state travel for Federally Funded grants only (e.g. for grantee conferences in Washington, D.C.) If funding comes from a private foundation or non-Federal funds, all travel is under object code 6366.

64XX = Supplies 6401 = Supplies for staff (office supplies, Professional Development materials, etc.) 6430 = Instructional Supplies for students 6460 = Textbooks 6461 = Standardized Testing Materials 6490 = Food

65XX = Capital 6520 = Building acquisitions/construction 6530 = Equipment – not technology 6555 = Technology equipment

68XX = Miscellaneous 6820 = Dues and professional memberships 6895 = Indirect costs –Rate of reimbursement if set by MDE annually –Not all grants will have indirect costs budgeted –If indirect is budgeted, only the first $25,000 of contracts is included in the calculation, and no capital expenditures are included.

Exercise: Examining a Fully Financed Budget

Exercise: From Grant Budget to Green Worksheet

Exercise: Green worksheet to FFB form

Submit to the Business Office The Fully Financed Form – both sheets The award notice from the funder The check (if you have it already)

Revising a FFB Necessary if lines are changing by 10% or more. Must be pre-approved by funder Follow same procedure as the original FFB form; it will not be the original. Submit funder approval with revised FFB

Questions? Comments?