Demystifying SACS - California School Fiscal Services SACS-1.pdf · Demystifying SACS How to Read...

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Demystifying SACS How to Read and Really Understand Your Budget Reports

Transcript of Demystifying SACS - California School Fiscal Services SACS-1.pdf · Demystifying SACS How to Read...

Page 1: Demystifying SACS - California School Fiscal Services SACS-1.pdf · Demystifying SACS How to Read and Really Understand Your Budget Reports

Demystifying SACS

How to Read and Really Understand

Your Budget Reports

Page 2: Demystifying SACS - California School Fiscal Services SACS-1.pdf · Demystifying SACS How to Read and Really Understand Your Budget Reports

2015 CCSA Mobile

Conference App To Download & Launch the App:

• Search “confservices” in the app store on your device • Open the app and enter event code: 2015 Set Up Your Account: • Once you’ve completed the steps above, select “My Account” button to log into the app • Enter your email address and the password “2015” to complete this step

Note: Directions are also listed on pg. 3 of the printed program.

Share Your Experience | #CCSACon | #OMMV

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2015 CCSA Mobile App

Session Evaluations

Share Your Experience | #CCSACon | #OMMV

Provide your feedback on all CCSA breakout sessions directly from the app:

• Select SCHEDULE Button • Tap the strand that corresponds to the session you want to evaluate • Use the arrows on the top to make sure you’re on the correct date • Scroll down until you find the session title • When you are inside a session description, click on the “Complete Session Evaluation”

link under the orange “Resources” header to complete a quick evaluation for that particular session.

Note: Directions are listed on the logistics button of the app.

Thank You!

Page 4: Demystifying SACS - California School Fiscal Services SACS-1.pdf · Demystifying SACS How to Read and Really Understand Your Budget Reports

What is SACS?

• SACS (standardized account code structure) is an account string containing seven numerically coded fields.

• The fields are used in combination to classify revenues, expenditures, assets, liabilities, and fund balances.

• This information is used to determine and report the

district or charter’s financial position.

62-1100-0-1110-1000-4300-01 Fund Resource Year Goal Function Object Site

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Poll Everywhere

This presentation uses Poll Everywhere.

To get started from your phone:

First, text 37607

Then, text JODYTHULIN

Or from your laptop, respond at:

PollEv.com/jodythulin

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What is SACS?

• The seven fields stay constant but the accounts in the fields are updated as needed to reflect changes in laws, regulations, types of transactions, or accounting principals or practices.

• Six of the seven SACS fields are required to be used when coding transactions.

• The site field is not required. (This field is an easy place

to keep track of LCAP expenditures for single school districts and charters)

62- 1100- 0- 1110- 1000- 4300- 01 Fund Resource Year Goal Function Object Site

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Why Do We Need SACS?

• To establish a uniform chart of accounts throughout the State.

• This improves our financial data collection, reporting, transmission, accuracy, and comparability.

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Why Is My School’s Account Code String Different?

Some districts/charters

didn’t want to change their

account string when SACS

was mandated.

The State still required that

all financial data conform

with SACS standards.

Many financial systems will

convert a district’s data to

match SACS upon exporting

your DAT file.

In the end, all financial data is formatted exactly the same when it is received by CDE.

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The Seven Fields of SACS

62-1100-0-1110-1000-4300-01

Fund Resource Year Goal Function Object Site

• Fund: A fund identifies specific activities or defines certain objectives in accordance with CDE.

• Charters typically use one of the following funds:

01 General Fund

09 Charter School Special Revenue Fund

62 Charter School Enterprise Fund

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Fund Resource Year Goal Function Object Site

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The Seven Fields of SACS

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Fund Resource Year Goal Function Object Site

Year: Identifies the reporting year for a project that has more than one reporting year during the LEA’s fiscal year. If a project’s reporting year is the same throughout the LEA’s fiscal year, the Project Year code is O.

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The Seven Fields of SACS

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Site: The site code designates a specific, physical school structure or group of structures that form a campus under a principal’s responsibility.

Consider numbering your school’s LCAP goals and then using that number to track all related expenditures . This will make it simple to report your annual expenditures on your LCAP update.

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Fund Resource Year Goal Function Object Site

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The Seven Fields of SACS

62-1100-0-1110-1000-4300-01

Fund Resource Year Goal Function Object Site

The remaining fields are where it’s all happening!

1. Resource

2. Goal – Function (think of them as sisters)

3. Object

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The Seven Fields of SACS

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Fund Resource Year Goal Function Object Site

• The Difference in Budgeting Revenue

Unrestricted vs. Restricted

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The Seven Fields of SACS

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Fund Resource Year Goal Function Object Site

Resource: The resource code is used to classify revenue and expenditures that have special accounting or reporting requirements or that are legally restricted.

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Fund Resource Year Goal Function Object Site

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Fund Resource Year Goal Function Object Site

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Fund Resource Year Goal Function Object Site

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The Seven Fields of SACS

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Fund Resource Year Goal Function Object Site

Object: The object code classifies revenue by source and expenditures by type of commodity or service.

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Fund Resource Year Goal Function Object Site

Books and Supplies

Range: 4000-4999

4100 Approved Textbooks

4200 Books & Other Ref. Materials

4300 Materials and Supplies

4400 Non-Capitalized Equip.

4700 Food

What are Locally Defined Codes?

CDE Requires: My school needs:

Books and Supplies

4310 Copy Paper

4320 Gas

4330 Cleaning Supplies

Locally-defined codes must “roll-up” to the CDE required codes when sending your data.

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Fund Resource Year Goal Function Object Site

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Fund Resource Year Goal Function Object Site

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Fund Resource Year Goal Function Object Site

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Fund Resource Year Goal Function Object Site

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Fund Resource Year Goal Function Object Site

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The Seven Fields of SACS

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Fund Resource Year Goal Function Object Site

Goal: The goal identifies the instructional goals and objectives. It groups costs by population, setting, and/or educational mode.

The Goal defines the “who”

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The Seven Fields of SACS

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Fund Resource Year Goal Function Object Site

Most Common Goals

• Regular Education: Goal 1110

• Special Education (RSP): Goal 5770

• Goal not required: Goal 0000

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The Seven Fields of SACS

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Fund Resource Year Goal Function Object Site

Function: The function identifies activities or services performed to support or accomplish one or more goals or objectives.

The Function defines the “what”

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The Seven Fields of SACS

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Fund Resource Year Goal Function Object Site

Most Common Functions:

• Instruction: Function 1000 • Special Education: Function 1120 • School Administration: Function 2700 • Maintenance: Function 8100

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The Seven Fields of SACS

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Fund Resource Year Goal Function Object Site

“Sister” Combinations

• Regular Education Instruction: 1110-1000

• RSP Instruction: 5770-1120

• School Administration: 0000-2700

• Maintenance: 0000-8100

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Fund Resource Year Goal Function Object Site

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Fund Resource Year Goal Function Object Site

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Resources that you just have to use!

California School Accounting Manual (CSAM): Procedures 305-330

http://www.cde.ca.gov/fg/ac/sa/

The Seven Fields of SACS 62-1100-0-1110-1000-4300-01

Fund Resource Year Goal Function Object Site

School Services of California Resource Description and Rules

http://www.sscal.com/catwizard/lookup_form.cfm

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Fund Resource Year Goal Function Object Site

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The Seven Fields of SACS

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Fund Resource Year Goal Function Object Site

Jody Thulin California School Fiscal Services Web: www.cfs-team.com Cell: (949) 910-0498