1. Basics for New Finance Officers Part II
Jan Johnston, Pendleton County Schools
Jennifer Pierce, Bellevue Independent Schools

2. Part II Agenda Budget Cycle On-Behalf Payments Tax Hearings
Draft Budget
Needs Assessment – check Board Policy/Procedures
Tentative Budget
Working Budget
On-Behalf Payments
Tax Hearings
Mandatory Reports

3. Budget Cycle – Board Policy 4.1
Draft Budget –
Due to be reviewed/presented to Board on or before January 31st
Does not need to balance
Should include items from district needs assessment (Board Procedure 4.1 AP2)
Tentative Budget
Due to Board on or before May 30th
Must balance
Must contain a minimum reserve of 2% contingency (sum of Fund 1 and Fund 51)
Detailed estimate of revenues and expenditures for following year

4. Budget Cycle – Board Policy 4.1
Working Budget
Due to Board on or before September 30th
Must balance
Must contain a minimum reserve of 2% contingency (sum of Fund 1 and Fund 51)
Close estimate of revenues and expenditures for current year

5. On-Behalf Payments General Fund Fund 400
Includes items paid by the State on-behalf of school employees
Health insurance, Life Insurance, Administration Fees, KTRS matches
Includes services provided at the State level
KISTA Energy Savings Capital Leases, Technology
Fund 400
Debt Service – records any debt service payment on bonds made by the district or made by others on-behalf of the district (for example, SFCC)

6. Tax Hearings
After completed unaudited AFR, the district (Superintendent and Finance Officer) will receive from Chay Ritter regarding tax rate adoption
Report 1
Summary of Compensating, Subsection (1) and 4% Tax Rates for both Real Estate and Personal Property
Motor Vehicle Tax Rate
Also shows requirements for hearings for each tax rate
Exonerations
Report 2 – shows House Bill 940 tax rate
Reports 3 and 4 – shows figures provided by PVA to Department of Revenue

7. Mandatory Reports Items to publish in newspaper Quarterly Reports
Non-discrimination policy statement (might not be finance person)
AFR (trying to get this changed)
Vendor List >$1,000 (use Newspaper Report in MUNIS)
Tax Hearing for anything except Compensating Rate
KY Board of Education Approved Tax Rate
School district budget
School report card (trying to get this changed)
Quarterly Reports
CDIP
Unemployment – KSBIT
941 Reports
SBAC Reports
MAP – 735 (Department of Medicaid Services)

8. Mandatory Reports Monthly Reports Other Reports Federal Cash Request
KTRS (TRS) – Pathways
CERS – START
Department of Labor
Federal Health
Other Reports
FRYSC Summary Reports (mid-year and final)
MOE (MoFE)
PSD/CSD and LEAD Reports
AFR – Unaudited and Audited
Tax Collector’s Report (Form F-60A) done by Sheriff’s Office – District does Local District’s Reconciliation of Taxes Collected Report (Form F-60B)

9. Questions??