REVENUE and EXPENDITURE BUDGETED & NON-BUDGETED FUNDS

REVENUE and EXPENDITURE BUDGETED & NON-BUDGETED FUNDS
New Clerk Academy – June 2018 Jacki Young – Fairview Mike Arnold - Billings

Glossary Budgeted Fund Cash Fund Fund Balance re-appropriated (FBR)
Any fund for which a budget must be officially adopted by the Board of Trustees in order to expend money from the fund (MCA (a)) Cash Fund Expenditures are limited by cash on hand Fund Balance re-appropriated (FBR) Cash Remaining on June 30 less operating reserves allowed less any outstanding obligations Reserve Limits are Set by Montana State Law Cash that can be set aside and not used to fund next year’s budget Helps to pay bills that are due before revenues begin to come in State School Block Grant ( , MCA) Replaced Several non-levy revenues (HB124 – FY02) Amount paid is increased by .76% each year. Must be budgeted as non-levy revenue in the General & Transportation Funds

Terminology and Concepts
Why do we use separate funds? to account separately for resources affected by different types of spending restrictions because financial reporting standards require it Fund accounting Each fund has a self-balancing set of accounts (debits = credits) to keep the cash flow, revenues, expenditures and equity segregated from the other funds. It is desirable to have as few funds as legal and sound administrative requirements make possible.

Terminology and Concepts 20-9-201, MCA Fund Definitions
BUDGETED FUNDS NON-BUDGETED FUNDS Trustees must adopt a budget to spend money Local property tax levies are a common revenue source No budget is needed to spend money Expenditures are limited to cash available in the fund ( , MCA) No tax revenues Voted Levy – hold an election to obtain voter approval “Permissive” (non-voted) Levy - voter approval not required

General Fund (01) Budgeted Fund (MCA 20-9-201)
PURPOSE: Primary operating fund and it accounts for all financial resources of the district except those required to be accounted for in other funds. To finance general maintenance and operational costs of a district not financed by other funds.

General Funding Funding is comprised of the following sources.
Direct state aid equal to 44.7% of the district’s basic and per-ANB entitlements 100% of the total Quality Educator payment 100% of the total At-Risk payment 100% of the total Indian Education for All payment 100% of the American Indian Achievement Gap payment 100% Data for Achievement payment Special education allowable cost payments from the state Natural Resource Development payment Non-Levy Revenue and FBR Guaranteed Tax Base Aid (if the district is eligible) Voted & non-voted local levies

General Fund (01) Budgeted Fund
COMMON CODING Fund: 101 Elementary General 201 High School General Program: Varies Function: Varies Object Codes: All Object Codes Revenue Source: Varies RESERVE LIMIT 10% or $10,000 – Whichever is greater ( (1), MCA) VOTER APPROVAL OF TAX LEVIES BASE Levy – Permissive (non-voted) Over-Base Levy – Must get voter approval to increase the prior year’s over-BASE levy.

Transportation Fund (10) Budgeted Fund (MCA 20-10-101)
PURPOSE: Established for the purpose of financing: Maintenance and operations of district owned school buses Contracts with private carriers for school bus service Individual transportation contracts And any amount necessary for the purchase, rental or insurance of school buses or operation of the transportation program

Transportation Fund (10) Budgeted Fund
Transportation is the conveyance of a pupil by a school bus which is driven by a certified driver between the pupil’s legal residence or designated bus stop and the school of the pupil’s attendance. Reimbursement is given based on the miles traveled to transport eligible transportees on routes approved by the County Transportation Committee. An eligible transportee is a student between the ages of 5 and 21 who is a resident of the state regardless of District or County boundaries, who resides at least 3 miles from the nearest school. The student must be considered to reside with his/her parents who maintain legal residence within the boundaries of the district providing transportation.

Transportation Funding
School Bus Miles Reimbursed First 3 miles is not reimbursed/6 miles per day .95 per mile/rated capacity – not more than 49 passenger 1.15 per mile/rated capacity – 50 to 59 passenger 1.36 per mile/rated capacity – 60 to 69 passenger 1.57 per mile/rated capacity – 70 to 79 passenger 1.80 per mile/rated capacity – 80 or more passenger Nonbus mileage – vehicle driven by a bus driver to and from an overnight location of a school bus when it is more than 10 miles from the school 50 cents per mile

Transportation Funding
Individual Transportation Parent transports student(s) between residence and school OR between residence and bus stop Minimum of 35 cents per day Maximum of $12.95 per day for first student, $8.40/9.60 for each additional student Isolated rate is 1 and ½ times the regular rate Room and Board per diem is the same as maximum miles per day X 2 – 6 miles X .35 cents per mile OPI Website – Pupil Transportation – Forms – Individual Contract Tips and Reminders

On Schedule Calculation
Bus Miles Reimbursed + Nonbus Miles Reimbursed + Individual Transportation Contracts Reimbursed + 10% Contingency = On Schedule Reimbursement 50% County Reimbursement 50% State Reimbursement

On Schedule Spreadsheet
OPI has a great tool for this /PupilTransport/index.html When routes vary from day to day you may need to set up different reimbursements for the same route. Example: Runs one way on Monday, Wednesday and Friday (Route 1a) and another way on Tuesday and Thursday (Route 1b).

Over Schedule Calculation
When expenditure budget exceeds the reimbursement for On Schedule Remainder is funded by non-levy revenues and a local levy

Valid Expenditures Administrative salaries and benefits (% of time spent) Bus Driver wages and benefits – including 10 hours of training costs Fuel Repairs and maintenance to buses Insurance for buses Drug Testing Purchase of new or replacement yellow bus (not extra curricular) Individual transportation payments Isolation payments

Valid Expenditures (cont.) Two way radios and base stations Supplies and equipment necessary for transportation administration Constructing and maintaining bus storage facilities Utilities for bus storage facility Any equipment necessary for safely transporting students Contracted bus fees Crossing guards Any other costs related to transporting students from home to school Does not include costs for field trips, activities and athletic transportation.

COMMON CODING Fund: Elementary Transportation 210 High School Transportation Program: Regular Programs 200 Special Programs Function: Student Transportation Object Codes: All Object Codes 514 Individual Transportation Contracts Revenue Source: 1117 Local Property Tax Levy 2220 County Transportation Reimbursement 3210 State On-Schedule Transportation Reimbursement RESERVE LIMIT 20% of Current Year Budget (MCA (3)) VOTER APPROVAL OF TAX LEVIES None (permissive)

Bus Depreciation Reserve (11) Budgeted Fund MCA 20-10-147
PURPOSE: This fund is for the purpose of financing replacement of buses including two-way radio equipment owned by a school district. Effective 7/1/2015 (HB31) allows replacement of GPS, cameras and 2-way radios. Trustees of a district owning a bus or two way radio for purposes of transportation or for purposes of conveying pupils to and from school functions or activities have the authority to establish a bus depreciation reserve. “Depreciation” describes the process by which funds are raised.

Bus Depreciation Reserve Funding
Fund Balance Re-appropriated (Year End Cash Balance) Always budget at least the cash in the account +Non-Levy Revenues +Local Levy (Revenue code 1117) Limited to 20% of the acquisition cost of each asset (bus or a 2 way radio) each year, not to exceed 150% over time Example: Bus cost ,000 Annual depreciation is 20,000 Maximum depreciation 150,000

Bus Depreciation Reserve (11) Budgeted Fund
Levy Permissively up to that amount Your Assets are listed in MAEFAIRS and you enter how much you want to depreciate each year Depreciate the oldest buses first so you can be sure you get them depreciated out before they are no longer in use No longer have to sell all of the buses and get voter approval to transfer funds

VALID EXPENDITURES Funds can be used to convert, remodel, or rebuild buses Funds can be used to purchase an additional yellow bus for route (SB 229) Can replace a yellow bus or an activities (non-yellow) bus Replace 2 way radios Funds can not be used to buy additional activity bus (SB 229) Cannot be used for ordinary repairs and maintenance (SB 229) Effective 7/1/2015 (HB31) allows replacement of GPS, cameras and 2-way radios. Often use this fund to level out mills over all budgeted funds.

COMMON CODING Fund: Elementary Bus Depreciation 211 High School Bus Depreciation Program: Regular Programs 200 Special Programs Function: Student Transportation Object Codes: 660 Equipment under amount of capitalization policy (i.e. $5,000) 730 Equipment over amount of capitalization policy RESERVE LIMIT None. Districts usually reappropriate all fund balance to support the budget and allow for expenditures during the year. VOTER APPROVAL OF TAX LEVIES None (permissive)

School Food Services (12) Cash Fund MCA 20-10-201
PURPOSE: The purpose of this fund is to account for School Food service operations; to provide breakfast and lunch to students Funding Fund Balance re-appropriated (Year End Cash Balance) +Other Revenues Federal Reimbursement – based on a schedule of amounts that are multiplied by the number of daily participants in the breakfast, lunch or snack program; rates vary for free, reduced and full pay students; Federal payment is received through the OPI;

School Food Services (12) Cash Fund
+Other Revenues (cont.) State Payment – the state matching funds are based on a percentage of the federal payment, usually receive it once a year in the spring District – most often expenses are subsidized by the General Fund or, if available, Impact Aid Meal Ticket Sales (Adults & Students) – students and staff pay on a per meal basis; the prices is set by each school district. Adults must pay at least the free meal reimbursement rate or the district must subsidize the program in order to cover the difference. Tips The free and reduced count is used to drive many federal programs such as Gear-Up and E-rate; encourage people to take advantage of the free and reduced prices; Remember, for some children, this may be the only good, hot, nutritionally balanced meal they get in a day;

VALID EXPENDITURES Salaries – kitchen staff, meal distribution drivers, % of administration Benefits – of food services related staff Purchase, Repair, or Maintenance of food service equipment Supplies for food service Food

COMMON CODING Fund: Food Service (101 Elementary General, 201 High School General) Program: Food Service Function: Food Service Object Codes: All Object Codes (630 Food) Revenue Source: 4550 Federal Child Nutrition 3220 State Food Services Match 1600 Lunch Ticket Sales RESERVE LIMIT None

Tuition (13) Budgeted Fund MCA 20-5-323 MCA 20-5-324
PURPOSE: To finance tuition costs for elementary and high school districts with pupils attending schools outside their district of residence. SB191 in the 2013 Legislative Session also allowed schools to levy funds here to cover actual costs of services for an in-district student with an IEP. Funding Local Tax Levy (permissive) Fund Balance re-appropriated (Year End Cash Balance) +Non Levy Revenues

Tuition (13) Budgeted Fund
+Local Levy For geographical barriers approved by County Transportation Committee Agreements/Contracts for Grades 7 and 8 and Kindergarten in elementary districts that don’t offer K, 7 and/or 8 District placements (ie. IEP requirements) DPHHS and Court Placements (including Tribal court) are paid by the state out of county equalization before it is sent to the state Pay this year’s tuition in the next year so have the costs before you budget

VALID EXPENDITURES For students the trustees have placed in another district For students where geographic conditions make it impractical for the student to attend in his own district Pay this year’s tuition in the next year so have the costs before you budget With SB191, all SPED expenditures.

COMMON CODING Fund: Elementary Tuition 213 High School Tuition Program: Regular Education 280 Special Education (if using SB191 provisions) Function: Instruction Object Codes: 560 Tuition Revenue Source: Local Property Tax Levy 3445 Combined Block Grant RESERVE LIMIT None VOTER APPROVAL OF TAX LEVIES None (permissive)

IMPORTANT DISTINCTIONS: Tuition Fund (13) Used to pay tuition costs to other entities or for special education costs for in-district students (SB191) Funded by a local (permissive) levy and non-levy revenue General Fund (01) District charges other entities (parent, other districts and/or the state for out-of-district students) Deposit tuition receipts in the General Fund Tuition receipts may be used to fund the over-BASE levy in the General Fund

Retirement Fund (14) Budgeted Fund MCA 20-9-501
PURPOSE: To finance the employer’s contribution to the Teacher’s Retirement System (TRS), the Public Employees’ Retirement System (MPERA/PERS), Unemployment Compensation and Social Security, (FICA and Medicare); Retirement costs for employees paid from federal funds must be paid from the federal program rather than the retirement fund (exceptions: Impact Aid and School Foods)

Retirement Fund (14) Budgeted Fund
Funding Fund Balance re-appropriated (Year End Cash Balance) County Retirement Distribution (county-wide levy) +Non-Levy Revenues Interest Earnings Combined School Block Grant No other non-levy revenues as this is not a local levy

Funding (cont.) County Retirement Distribution Establish your expenditure budget based on your salary data (send salary data to County Superintendent for verification of your expenditure budget). Subtract any FBR and non-levy revenues County Superintendent calculates the countywide levy requirement for all districts in the county Non-Levy Revenue at County Level Oil and Gas Taxes Coal Gross Proceeds School Retirement Block Grants (MCA ) Guaranteed Tax Base Aid for Qualifying Counties (MCA ) (Eligible if the County Retirement Mill Value per ANB is less than the corresponding Statewide Mill Value per ANB)

Distributed a minimum of 2 times per year Should monitor this county levy calculation and the distribution received Have been many cases of errors in this calculation and distribution

VALID EXPENDITURES Employer share Social Security and Medicare Employer share TRS and PERS Employer payment of unemployment premium Early Retirement Bonus is not valid expenditures Payments to Employees are not valid expenditures

COMMON CODING Fund: 114 Elementary Retirement 214 High School Retirement Program: All Program Codes except Federal Funds Function: All Function Codes Object Codes: Social Security and Medicare 220 Teacher’s Retirement 230 Public Employee’s Retirement 240 Unemployment Compensation Revenue Source: County Retirement Distribution RESERVE LIMIT 20% of the budget ( (4)(a)(v), MCA) New Limit for FY14 VOTER APPROVAL OF TAX LEVIES None (permissive through countywide levy)

Federal Programs (15) Cash Fund MCA 20-9-507
PURPOSE: To account for local, state or federal grants and reimbursements Funding Federal: Per grant award State: Per grant award Local: Allowable miscellaneous receipts (often local donations)

Federal Programs (15) Cash Fund
Program/Revenue for Common Grant Awards 420/4200 Title I – Improving Basic Programs 427/4270 Title I D – Neglected, Migrant, At Risk 430/4300 Title II – Teacher and Principal Training and Recruitment 432/ Title III – English Language Acquisition 413/ Title VII – Indian Education 456/4560 IDEA Part B 457/4570 IDEA Pre-School Special Education 360/3600 Gifted & Talented Education 390/3900 State Vocational Education 452/4520 Carl Perkins 471/4710 Gear Up

E-grants Indirect Cost Rates Good budgeting tool Make application to the OPI – right now Very Simple Gives you additional options Have small amount of money left at year end can just claim Indirect Cost and clear it out Some grant applications require an indirect cost rate when applying

VALID EXPENDITURES Expenditures are only allowed that fall within the purpose of the grant Must include all Benefit Costs - approximately 16% of salary Must also include Health Insurance

COMMON CODING Fund: Elementary Misc. Programs (most common) 215 High School Misc. Programs Program: 100 Local Program Codes 3XX State Program Codes 4XX Federal Program Codes Function: All Function Codes Object Codes: All Object Codes

Adult Education (17) Budgeted Fund MCA 20-7-705
PURPOSE: To account for all district money received in support of the district’s adult education program. Funding Fund Balance re-appropriated (Year End Cash Balance) +Non-Levy Revenues Including Student Fees +Local Levy Permissive Levy Can levy an unlimited number of mills

Adult Education (17) Budgeted Fund
VALID EXPENDITURES “The instruction of persons 16 years of age or older who are not regularly enrolled, full-time pupils for the purposes of ANB computation.” Salaries for instructors Supplies necessary for instruction in the class, but not for projects taken home by the students

Adult Education (17) Budgeted Fund
COMMON CODING Fund: Elementary Adult Education 217 Adult Education Program: Adult Education Programs Function: Instruction Object Codes: All Object Codes Revenue Source: 1117 Local Property Tax Levy 1340 Fees for Adult Education RESERVE LIMIT 35% of Adult Education Fund Budget ( , MCA) VOTER APPROVAL OF TAX LEVIES None (permissive)

Traffic Education (18) Cash Fund MCA 20-7-507
PURPOSE: For the accounting of traffic education activities for students who are 15 or within 6 months of turning 15 and are taught by a certified traffic education instructor Funding Fund Balance re-appropriated (Year End Cash Balance) +State Payment Approximately $80 per student who completes the course

Traffic Education (18) Cash Fund
Funding (cont.) District Expenses subsidized by the general fund Local Fees charge per student as set by the Board of Trustees You may charge students not enrolled in your district more than in-district students only if you charge tuition

VALID EXPENDITURES Instructor Salaries Supplies: textbooks, gas, etc. Rent or purchase of a vehicle Insurance on vehicle Repairs and maintenance of driver education vehicle

COMMON CODING Fund: Traffic Education Program: Regular Programs Function: Instruction Object Codes: All Object Codes Revenue Source: Driver’s Education Fees from Students 3260 State Driver Education Reimbursement

Lease Rental (20) Cash Fund MCA 20-9-509
PURPOSE: To account for revenues and expenditures related to lease or rental of school property. (MCA ) Funding Fund Balance re-appropriated (Year End Cash Balance) Cannot have a year end balance of more than $10,000 ($20,000 for a K-12 district) Excess must be transferred to the general fund Non Levy Revenue Interest +Revenue from Rental Property

Lease Rental (20) Cash Fund
VALID EXPENDITURES Utilities Repair and maintenance of property Custodial expenses related to leased area Administrative cost of owning leased property Insurance for property Acquisition of additional housing or dormitory facilities

Lease Rental (20) Cash Fund
COMMON CODING Fund: Elementary Lease-Rental High School Lease-Rental Program: Regular Programs Function: XX Operation and Maintenance Object Codes: All Object Codes Revenue Source: Rentals

Compensated Absence Fund (21) Cash Fund MCA 20-9-512
PURPOSE: To finance the accumulated sick leave and vacation pay that a non-teaching or administrative school district employee is entitled to upon termination Funding Fund Balance re-appropriated (Year End Cash Balance) +Annual Transfer from General Fund Maximum of 30% of total district liability for admin and non-certified staff Calculation includes 25% of Accumulated Sick Leave 100% of Accumulated Vacation Leave X Their hourly rate + Benefit Costs Must have budget authority in General Fund for transfer to occur

Compensated Absences Calculation
COMPENSATED ABSENCES AS OF EMPLOYEE HOURLY VACATION TOTAL 25% OF COMP AB NAME RATE HOURS VAC LIAB SICK LEAVE S/L LIAB BENEFITS** LIAB 13.94 37.20 518.57 83.40 253.86 7.57 0.00 21.04 159.27 24.05 183.32 8.75 66.24 10.00 76.24 8.74 4.43 38.72 39.42 344.53 60.44 443.69 11.01 60.69 668.20 125.89 794.09 28.85 95.50 23.91 689.80 543.27 16.17 3.85 62.25 11.73 73.98 12.88 8.66 111.54 21.01 132.56 10.44 101.36 106.35 408.54 7.49 36.73 275.11 37.70 282.37 105.03 662.51 7.28 31.30 227.86 6.03 43.90 51.20 322.96 6.10 7.55 46.06 8.68 54.73 9.28 0.44 4.08 61.61 571.74 108.49 684.31 TOTALS 306.96 468.96 ** CLERICAL FICA PERS UNEMP WC = .151

Compensated Absence Fund (21) Cash Fund
VALID EXPENDITURES Sick and Annual Leave pay outs for Non-teaching and administrative staff only, at termination of employment Must transfer back to the General Fund any balance over 30% of the total liability X Transfers to General Fund

Compensated Absence Fund (21) Cash Fund
COMMON CODING Fund: 121 Elementary Compensated Absence 221 High School Compensated Absence Program: 100 Regular Programs 200 Special Programs Function: All Function Codes Object Codes: Personal Services – Salaries 200 Personal Services – Employee Benefits Revenue Source: Transfer from General Fund

Impact Aid (26) Cash Fund MCA 20-9-514
PURPOSE: This is federal money intended to replace the lack of tax revenue generated on land held in trust by the Federal Government. Entire law is property based, based on where the student(s) reside. Funding Fund Balance re-appropriated (Year End Cash Balance) +Estimated Revenue Annual Application based upon students who live on non-taxable land Revenue is received approx. December

Impact Aid (26) Cash Fund VALID EXPENDITURES
Allocation for students with disabilities must be spent on those student needs Allocation for construction must be spent on maintenance, repairs or construction of new buildings Remaining funds are spent at the discretion of the Board of Trustees

Impact Aid (26) Cash Fund COMMON CODING
Fund: Elementary Impact Aid 226 High School Impact Aid Program: All Program Codes Function: All Function Codes Object Codes: All Object Codes Revenue Source: Federal Impact Aid RESERVE LIMIT None

Litigation Reserve (27) Cash Fund MCA 20-9-515
PURPOSE: To pay legal settlements and court judgements ordered against the district Funding Transfer Amount Transfer from the general fund when litigation is pending Funds remaining after settlement/judgement must be returned to the general fund

Litigation Reserve (27) Cash Fund
VALID EXPENDITURES Costs named in the legal settlement/judgment order

Litigation Reserve (27) Cash Fund
COMMON CODING Fund: Elementary Litigation Reserve 227 High School Litigation Reserve Program: Regular Programs Function: Business Services Object Codes: 820 Judgment Against the District Revenue Source: Transfer from General Fund to Litigation Reserve Fund RESERVE LIMIT Once settlement/judgment is paid no reserve is allowed X Transfers to General Fund

Technology (28) Budgeted Fund MCA 20-9-533
PURPOSE: The purpose of this fund is to finance the purchase and maintenance of technological equipment and to provide technical training. to account for receipt of state Technology “Timber” money and other revenues and expenditures for technology equipment and computer network access

Technology (28) Budgeted Fund
Funding Fund Balance re-appropriated (Year End Cash Balance) +Non-Levy Revenues Interest Possibly Combined School Block Grant +State Technology Aid (taken away FY18/19) Referred to as “timber money” State’s appropriation is based on timber harvest in Common School trust lands when the harvest exceeds a certain threshold (MCA ) Distributed based upon size of a district’s BASE budget as compared to the total of all districts’ BASE budgets for the previous year (MCA )

+ Local Technology Levy Special election based on depreciation of items Levy amount is determined by The original cost of technology equipment and access costs + Purchases made during the year - Equipment disposed of during the year - The amount that has already been levied for each asset up to date Limited to 20% of the acquisition cost, not to exceed 150% over time Once the levy is approved, can continue to collect it based on the number of years shown on the ballot To increase the levy would require another vote; then the duration is limited to 10 years This can also be accomplished in the Building Reserve Fund

VALID EXPENDITURES Purchase, rental, repair, maintenance, and depreciation of technological equipment, including computers and computer network access Associated technical training for school district personnel Software maintenance fees, ie: for student information and accounting systems.

OTHER CONSIDERATIONS Levies approved prior to July 1, 2013 Can be permanent or durational Annual levy cannot exceed 20% of the original cost of equipment owned by the district Amount levied over time cannot exceed 150% of the original cost of the equipment $$ can be used for equipment, network access and training of school personnel Levies approved after July 1, 2013 May not exceed 10 years Can be based on all allowable costs listed in the statute (equipment, cloud storage, training, etc.) Districts with an existing perpetual levy can Ask for an increase in the amount of the levy to cover cloud computing and training, and/or Seek relief from tracking depreciation under existing levy Can propose a duration for each, not to exceed 10 years

COMMON CODING Fund: Elementary Technology 228 High School Technology Program: All Program Codes Function: All Function Codes Object Codes: All Object Codes Revenue Sources: 1117 Local Property Tax Levy 3281 State Technology Aid RESERVE LIMIT None VOTER APPROVAL OF TAX LEVIES Yes – can be permanent or durational

Flexibility Fund (29) Budgeted Fund MCA 20-9-543
PURPOSE: To account for receipt of the state Flexibility Payment (if any) and other revenues and expenditures. Trustees may use the fund, at their discretion. Funding Fund Balance re-appropriated (Year End Cash Balance) +Non-Levy Revenues Interest Combined School Block Grant

Flexibility Fund (29) Budgeted Fund
Funding (cont.) +State Flexibility Payment Based on an appropriation, if any from the legislature Distributed as follows: 40% based on the state’s five year average ANB 20% based on the previous year’s statewide average ANB 15% based on the number of schools in the state 25% based on the number of schools having more than 250 students There has not been an appropriation since 2003 + Local Levy Must be Voter Approved Limited to 25% of the estimated State Flexibility Payment When there is no State Payment, there cannot be a levy

VALID EXPENDITURES Technology Facility Expansion Student Assessment and Evaluation Curriculum Development Training for Classroom Staff to Support the Delivery of Education Programs Classroom Teacher Housing Retention of Certified Staff Increased Energy Costs Caused by Increases Since 2001 Facility/Equipment Expansion

COMMON CODING Fund: Elementary Flexibility Fund 229 High School Flexibility Fund Program: All Program Codes Function: All Function Codes Object Codes: All Object Codes Revenue Source: State Other Revenue Reserve Limit Currently no reserve limit Beginning July 1, 2010, 150% of Maximum General Fund Budget, excess must be remitted back to the state Voter Approval of Tax Levies Yes – can be permanent or durational No State Distribution – No Levy

Debt Service Fund (50) Budgeted Fund MCA 20-9-438
PURPOSE: To finance the paying of the principle and interest and associated fees on outstanding bonds and special improvement district (SID) assessments Funding Fund Balance re-appropriated (Year End Cash Balance) +Non-Levy Revenues Interest Combined School Block Grant All other revenues attached to a mill levy

Debt Service Fund (50) Budgeted Fund
Funding (cont.) +State School Facilities Reimbursement Provides State Subsidies to eligible schools to repay bonds District’s mill value per ANB must be less than the corresponding facility guaranteed mill value per ANB

If eligible, 3 calculations are made School Facility Entitlement (MCA ) K-6 ANB x $300; 7-8 ANB X $370, and 9-12 ANB X $450 State Reimbursement Payment (MCA ) Amount of State Equalization Aid distributed to a district that: >Has a district mill value per ANB that is less than the corresponding facility guaranteed mill value per ANB >Has a debt service obligation in the ensuing school year on bonds Percentage determined by [(1-(district mill value per ANB/facility guaranteed mill value per ANB) X (the lesser of: Total school facility entitlement calculated OR the district’s current year debt service obligation)

State Advance Payment (MCA ) Calculated same as state reimbursement payment, adjusted, if necessary, to the state’s prorated payment of facilities reimbursement in the prior year State advance payment is paid on in the first year of the bond Advances are distributed to eligible districts, within the available appropriation

Building Fund (60) Cash Fund MCA 20-9-508
PURPOSE: To account for building and construction projects using bond or insurance proceeds, federal funds, or proceeds from the sale of property Funding Fund Balance re-appropriated (Year End Cash Balance) Insurance Proceeds can be deposited here +Non-Levy Revenues Combined Block Grant Funds +Bond Sale Proceeds +District Property Sale Proceeds

Building Fund (60) Cash Fund
VALID EXPENDITURES Construction Building additions, remodeling or repairs Federal money can only be spent for the express purpose of the grant

Building Fund (60) Cash Fund
COMMON CODING Fund: Elementary Building Fund 260 High School Building Fund Program: Regular Program Function: Facilities Acquisition and Construction Services Object Codes: 720 Purchase of Existing Buildings 725 Major Construction Services 730 Major Equipment Revenue Source: Sale of Bonds 5200 Sale or Compensation for Loss of Assets

Building Reserve Fund (61) Budgeted Fund MCA 20-9-502
PURPOSE: To finance voter approved buildings or construction projects funded with district mill levies Funding Fund Balance Re-appropriated (Year End Cash Balance)

Building Reserve Fund (61) Budgeted Fund
Funding (cont.) +Non-Levy Revenues Interest Earnings Combined Fund School Block Grant +Local Levy Trustees must adopt a resolution addressing the duration of time over which the total amount of money will be raised, in equal, annual installments Limited to a maximum of 20 years for building-type reserve Limited to a maximum of 6 years for transitional-type reserve Must be Voter Approved

VALID EXPENDITURES Restricted to language on the ballot. Must specify purpose for which the building reserve would be used from the list below: To raise money for the future construction, equipping, enlarging of school buildings or for purchasing land needed for school purposes. To raise money for transitional costs of opening/closing schools, replacing school buildings or consolidating/annexing.

Possible Building Reserve Ballot Language The approval of ____ number of dollars and approximately ____ mills to be raised over a period of _____ years in annual, equal installments for the purpose of updating, maintaining, and equipping the ______ school facilities. ____ For ____ Against

COMMON CODING Fund: Elementary Building Reserve Fund 261 High School Building Reserve Fund Program: Regular Program Function: Operation and Maintenance Services 4000 Facilities Acquisition and Construction Services Object Codes: All Object Codes Revenue Sources: 1117 Local Property Tax Levy RESERVE LIMIT - None VOTER APPROVAL OF TAX LEVIES Yes, duration – Up to 20 Years

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REVENUE and EXPENDITURE BUDGETED & NON-BUDGETED FUNDS

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REVENUE and EXPENDITURE BUDGETED & NON-BUDGETED FUNDS

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