Introducing A New Process For Reporting Financial Data to DPI A Revised Format For The PI-1505 AC

Effective with the Annual Report the process was revised, updated and made easier to work with.

Are new accounts being added? NO!

Are account codes being changed? NO!

Are we getting a new fund? NO!

Why did DPI change the process?

To improve the accuracy and timeliness of reported data.

The primary purpose of the Annual Report is to provide data in order to pay aids. The most important of which is Equalization Aid

In order to properly certify aid on October 15th, DPI must have all Equalization Aid related financial data in well ahead of Oct. 15.

Prior to the introduction of the PI 1505 AC, too often, financial data had been reported late, incomplete or containing substantial errors!

What changes have been made to address these problems? The existing PI-1505 has been divided into two parts.

1. Financial Data for the October Aid Certification 2. Non-Financial Data for Other Data Purposes, such as Determining Categorical Aids

Existing PI-1505 (Full Report) Financial Data Non- Financial Data

Existing PI-1505 Financial Datc Non- Financial Data PI-1505AC

The PI-1505 AC reports selected data from the full financial report to be used for Oct. 15 aid certification. It does not replace the existing Annual Report (PI 1505)

Is This A New Report? Not Really! The PI-1505 AC deals only with data necessary to certify Equalization Aid on October 15.

How short will PI-1505 AC form be? Only 43 accounts. Most districts will use only 10 to 15 of these accounts.

To look over a prototype of the PI-1505 AC, click the icon below Test it out by entering data. You can use this to prepare data for the actual PI AC internet report. Close it when you’re done. You will return to this slide.

How will this help districts in their reporting? Districts will not need to struggle with the full report as early to insure that the necessary data is reported.

Will all the financial data in the existing Annual Report (PI- 1505) still need to be reported? Yes, but the full financial report will not be due until October 1.

When will the PI-1505 AC be due? It will be reported via the internet no later than August 30 Early submission is encouraged.

How will DPI insure the accuracy of data reported on the PI-1505 AC Form? Districts will compile the PI AC data in cooperation with their district auditor.

Must the auditor concur with the PI-1505 AC? Yes, auditors will be required to submit the (PI 1506 AC) Audit Statement no later than September 13. The PI-1506 AC must concur with the PI-1505 AC.

What data from the existing PI is considered Non- Financial? The tables found at the back of the prior year’s PI-1505 report.

The Non-Financial Side What does DPI need? Why does DPI need it? When does DPI need it? How does DPI get it?

DPI collects a number of pieces of non-financial data from districts that directly impact the financial status of the district.

These pieces of data include: The “Driver’s Education table The “Pupil Transportation table The “Pupil Count” table The “School Calendar” table The “Census” table The CYD/FYD “Debt” tables

Is DPI Changing the Non- financial Data that is collected annually? NO!! We are still collecting the very same data from districts.

How does DPI collect this data? The Non-Financial Data is reported on the Full Annual Report (PI-1505)

In The Summer of 2002 DPI Began to Introduce Non- Financial Data Reports on the Internet. You Can Do The Transportation Report Via the Internet.

How does DPI plan to collect the rest of the non-financial data this year? The rest will be collected with the full Annual Report due on October 1. DPI plans to collect this Non-Financial data via the Internet in the future.

Why are we changing the way the “non-financials” are reported? Most of this information is collected in the district long before the full Annual Report financial report is due (October 1). Rather than holding the information in the district business office until the completion of the full Annual Report, you will be able to send this off, via the internet to DPI and be done with it.

Why does DPI even need this information? *Debt Service is part of the 2/3 funding pot. *Some categorical aids cannot be calculated without the information from these tables (transportation, driver’s education, library, tuition and some federal programs depend on pupil count.) *The school calendar verifies school days.

Will a full district audit still be required? Yes! It will be due November 1 and there are no changes for the format used in recent years.

In addition to the report tables, what will DPI provide to help districts with this process?

An Excel worksheet will be available on the internet to assist districts in preparing the PI-1505 AC Short Form

On or about July 15 districts received a document called, “Annual Report Data Entries” sheet. This information reflects school district data on file with the department.

What if a district does not agree with data provided on the Data Entries Worksheet?

The Data Entries Sheet Identifies district data that is currently on file with DPI. It should match what is reported on PI 1505 AC

What if a district does not agree with data provided on the Data Entries Worksheet? Contact DPI immediately. There must be agreement before the PI-1505 AC will be accepted.

What else will DPI do to help? Upon submission of the PI AC, DPI will do a “Quick Audit” and notify the district of any exceptions.

What else will DPI do to help? On September 23, after auditors have filed the audit statement (PI-1506 AC) DPI will provide a “preliminary” aid estimate.

This estimate of aid eligibility is to be used to correct data submitted to DPI to calculate the district revenue cap and tax levies.

How will any exceptions be resolved? District data can be changed by the auditor on the PI 1506 AC between Sept 23 and Oct 1.

Time-Line Summary July 15 - Districts receive “Annual Report Data Entries” sheet. Aug 1- Aug 30 District & Auditor Prepare PI-1505 AC August 30 - PI-1505 AC Short Form due (Internet) Time-Line Summary July 15 - Districts receive “Annual Report Data Entries” sheet. Aug 1- Aug 30 District & Auditor Prepare PI-1505 AC August 30 - PI-1505 AC Short Form due (Internet)

Time-Line Summary September 13 - PI-1506 AC, the Audit Statement due September 23 - Preliminary Aid Estimate October 1 - Last day to submit Non-Financial data Time-Line Summary September 13 - PI-1506 AC, the Audit Statement due September 23 - Preliminary Aid Estimate October 1 - Last day to submit Non-Financial data

Time-Line Summary October 1 - Last day to amend PI-1506 AC October 1 - PI-1505 Full Financial (PI-1505) due Time-Line Summary October 1 - Last day to amend PI-1506 AC October 1 - PI-1505 Full Financial (PI-1505) due

Time-Line Summary October 15 - DPI will certify General Aid for November 1 - Audit Report due Time-Line Summary October 15 - DPI will certify General Aid for November 1 - Audit Report due

If there are any questions, please contact one of the following: Brad Adams, Jim McIntosh,