The New IPAM and AFR Rules and Regulations

Presenters:Illinois State Board of Education

Miller CooperPMA Financial, Inc.

Overview

Over past five years, ISBE and various sub-committees have reviewed and considered updates to the Illinois Program Accounting Manual (IPAM).

Changes included consistency with Federal accounting manuals, updates to GAAP accounting standards, and changes to various local laws.

Changes were provided for review to IASBO, IASA, IASB, etc. During 2006, changes to IPAM and subsequent changes to

Accounting Rules were provided to JCAR for review and public comment.

Changes were adopted by JCAR effective with FY2009 BUDGET and AFR financial reporting periods.

Illinois Program Accounting Manual Basis for school district accounting, budgeting and

reporting Consistency with federal accounting program

manuals and account codes IPAM Rules

Found at ISBE’s website – under “RULES CURRENTLY IN EFFECT” http://www.isbe.net/rules/archive/default.htm

IPAM Chart of Accounts/Manual Found at ISBE’s website – under “SCHOOL BUSINESS

SERVICES – PUBLICATIONS” http://www.isbe.net/sfms/pdf/ipam.pdf

http://www.isbe.net

ECS | CeRTS | IWAS | FRIS I nquiry | Teachers | Students | Administrators | Student Assessment | I L Learning Standards | Programs | Forms | Glossary Skip navigation Search ISBE:

News

Board

Supt. Conference Budget Agency Information Divisions Rules Accountability Assessment Career Development Certification Curriculum & Instruction Data Analysis Early Childhood EFAB Eng. Language Learning External Assurance Funding & Disbursements Grants & RFPs Legislation NCLB Nutrition Professional Providers Report Card ROE Services Rules & Waivers School Business Services School Finance Special Education Student I nform. System Supplemental Ed. Serv. Teaching & Learning Textbook Loan Program

Textbook Relocation Program

Employment at I SBE Education Vacancies Contact ISBE Send ISBE a File

State Board of Education working with local districts to improve technology training through online courses

More than 340 teachers learning how to better bring technology into the classroom

SPRINGFIELD — The I llinois State Board of Education (ISBE) announced today that more than 340 teachers in 26 districts statewide will be participating in a series of in-depth, online courses focused on bringing technology into the classroom. The classes, which begin in J anuary, are an integral part of the I llinois Enhancing Education Through Technology (EETT) grant program, which aims to improve access to technology and to provide technology integration training to teachers and students in the state.

“The explosion in technological development means that we are trying to prepare many of today’s students for future careers. That’s why integrating technology into the classroom is important,” said State Superintendent Christopher A. Koch. “Our students need to be technologically literate in order to be successful in and beyond the classroom. That foundation starts with our teachers and these courses are valuable tools for their professional development.”

The federal EETT grant will help districts train teachers on how to mix advanced technology with everyday classroom learning. The grant also funds ongoing professional development that focuses on new trends in the technology arena. The primary goal is to help teachers grow, and in turn, improve student achievement.

The online education courses are available through

Upcoming Meetings

Calendar of Meetings

Hot Topics and Resources

• The I llinois State Response to Intervention (RtI) Plan

• Guide to Requirements for Certification, Endorsement, and Assignment

• Guidance for Graduation Requirements (Updated 12/07)

• I llinois Home-Schooling Information

• School Registration Guidance

• School Information

• School District Financial Profile

• FY 2007 Readiness and Emergency Management for Schools

• Certification Application Process

Budget Highly Qualified Worksheet NCLB Funding School Improvement

* Full information is available on

ISBE’s website under “Rules & Waivers”. Click

on “Rules”

23 Illinois Administrative Code–Section 100 Changes Effective July 1, 2009 Contains updated account code tables

Table A – Classification of Funds Table B – Balance Sheet Accounts Table C – Revenue Accounts Table D – Expenditure Accounts Table E – Sources/Uses Accounts; Miscellaneous Table F – Expenditure Object Accounts

RULE CHANGES Rule Changes discussed today are found in 23 Illinois

Administrative Code 100. Rules for Code Sections 110 and 125 will be obsolete effective

July 1, 2008. New requirement for “Accounting, Budgeting, Financial Reporting,

and Auditing” Currently found under “Proposed New Part 100” on the website.

IPAM Currently found under “Amendment to Part 110” Part 110 is replaced by changes in Part 100 effective July 1,

2008. Student Activity Funds

Currently found under “Amendment to Part 125” Part 125 is merged into Part 100 effective July 1, 2008.

State Reporting Requirements For Account Codes

Fund Account – “Source”Revenue XX XXXX (xxxx)

Fund Function ObjectExpenditure XX XXXX Xxx

Additional Coding at Local Discretion - Examples:- Transaction Type X- Fiscal Year XX - Balance Sheet XXX

NOTE:

The red “x’s” are additional optional account code spaces that ISBE is recognizing in the IPAM account code structure. Account and “Source” are used interchangeably

- Salary Type XXX

School District Annual Budget

Accounting Basis:

Cash

Accrual

Submit budget (as adopted) on ISBE Form 50-36 to:

District Name:

County:

, ,

.

,

,

day of , 20 ,

.

Note: The electronic version does not require member signatures.

*

ISBE 50-36 (5/2007)SB08

June 30, 2008

District RCDT No:

ILLINOIS STATE BOARD OF EDUCATION

100 North First Street

SCHOOL DISTRICT BUDGET FORM *Springfield, Illinois 62777-0001

School Business and Support Services Division

July 1, 2007 - June 30, 2008www.isbe.net/sfms/budget/2008/budget.htm

July 1, 2007

July 1, 2007 June 30, 2008

MEMBERS VOTING YEA: MEMBERS VOTING NAY:

Budget of School District No. , County of

State of Illinois, for the Fiscal Year beginning and ending

WHEREAS the Board of Education of

County of State of Illinois, caused to be prepared in tentative form a budget, and the Secretary

of this Board has made the same conveniently available to public inspection for at least thirty days prior to final action thereon;

AND WHEREAS a public hearing was held as to such budget on the

notice of said hearing was given at least thirty days prior thereto as required by law, and all other legal requirements have been complied with;

NOW, THEREFORE, Be it resolved by the Board of Education of said district as follows: Section 1: That the fiscal year of this School District be and the same hereby is fixed and declared to be

beginning

Section 2: That the following budget containing an estimate of amounts available in each Fund, separately, and expenditures from each be and the same is hereby adopted as the budget of this school district for said fiscal year.

ADOPTION OF BUDGET

The Budget shall be approved and signed below by Members of the School Board. Adopted this

* Based on the Illinois Program Accounting Manual for Local Education Agencies (LEAs) as required by Section 17-1 of the School Code. A certified copy of this document must be filed with the county clerk within 30 days of adoption as required by Section 18-50 of the Property Tax Code (35 ILCS 200/18-50).

and ending

day of by a roll call vote of Yeas, and Nays, to wit:, 20

School District No .

Cover PageForm 50-36

School District Annual Budget Current Budget Provisions

Adopted by September 30th

Submitted electronically to ISBE Required to be “BALANCED” within 3 years of the initial

“UNBALANCED” budget School Code, Section 17-1 These changes were adopted effective FY2007 financial cycle. FY2008 Budget Forms are available on ISEB website

http://www.isbe.net/sfms/budget/2008/budget.htm FY07 and FY08 Budget Documents are stored in archived files by

RCDT #’s. ftp://ftpfinance.isbe.net/SDB/

New Budget Provisions Effective FY2009 finance cycle beginning July 1, 2008. New FY2009 Budget and AFR documents will be available on the

ISBE website in Spring 2008.

Illinois School District Budget Format Budget Summary

Estimated Fund Balance (at beginning of Fiscal Period) Receipts / Revenues Disbursements / Expenditures Line 18 – Excess of Direct Receipts/Revenues Over (Under) Direct

Disbursements/Expenditures Other Financing Sources (7000)

Transfers from Other Funds Sale of Bonds

Other Finances Uses (8000) Transfers to Other Funds

Estimated Fund Balance (at end of Fiscal Period) Summary of Cash Transactions

Estimated Balances on Hand (beginning of Fiscal Period) Receipts Disbursements Estimated Balances on Hand (end of Fiscal Period)

Estimated Receipts/Revenues Estimated Disbursements/Expenditures Deficit Budget Information Estimated Limitation of Administrative Costs Reporting of Public Vendor Contracts of $1,000 or More

QUESTIONS?

School District Annual Budget

Budget Summary

(Pages 2 & 3)

Original Budget Date:

Amended Budget

[See page 31 for references]

(10) (20) (30) (40) (50) (60) (70) (80)

Acct #

Educational Operations & Maintenance

Bond & Interest Transportation Municipal Retirement/

Social Security

Site & Construction/

Capital Improvement

Working Cash Rent

1.

RECEIPTS/REVENUES

2. LOCAL SOURCES 1000 0 0 0 0 0 0 0 03. FLOW-THROUGH RECEIPTS/REVENUES FROM ONE LEA

TO ANOTHER LEA2000

0 0 0 04. STATE SOURCES 3000 0 0 0 0 0 0 0 05. FEDERAL SOURCES 4000 0 0 0 0 0 0 0 06. Total Direct Receipts/Revenues 0 0 0 0 0 0 0 0

7. Receipts/Revenues for "On Behalf of" Payments 2 3998

8. Total Receipts/Revenues 0 0 0 0 0 0 0 0

DISBURSEMENTS/EXPENDITURES

9. INSTRUCTION 1000 0 010. SUPPORT SERVICES 2000 0 0 0 0 011. COMMUNITY SERVICES 3000 0 0 0 012. NONPROGRAMMED CHARGES 4000 0 0 0 0 0 013. DEBT SERVICES 5000 0 0 0 0 0 014. PROVISION FOR CONTINGENCIES 6000 0 0 0 0 0 015. Total Direct Disbursements/Expenditures 0 0 0 0 0 0 016. Disbursements/Expenditures for "On Behalf of"

Payments 2

41800 0 0 0 0 0 0

17. Total Disbursements/Expenditures 0 0 0 0 0 0 018.

0 0 0 0 0 0 0 0

OTHER FINANCING SOURCES (USES)

OTHER FINANCING SOURCES (7000)

TRANSFER FROM OTHER FUNDS (7100)

19. Permanent Transfer from Working Cash Fund - Abolishment (Section 20-8)

7110

20. Permanent Transfer from Working Cash Fund - Interest (Section 20-5)

7120

21. Permanent Transfer (Section 17-2A) 7130

22. Permanent Transfer of Interest (Section 10-22.44) 7140

23. Permanent Transfer from Site and Construction/Capital Improvement Fund (Section 10-22.14)

7150

24. Perm. Transfer of Excess Accumulated Fire Prev. & Safety

Tax Proceeds & Int. Earnings (Sec. 17-2.11) 3

7160

25. Perm. Transfer of Excess Accumulated Fire Prev. & Safety

Bond Proceeds and Int. Earnings (Sec. 10-22.14) 3

7170

26. Permanent Transfer from Working Cash Fund - Abatement (Section 20-9)

7180

SALE OF BONDS (7200) 7200

27. Principal on Bonds Sold (Amount of Original Issue) 4 7210

28. Premium on Bonds Sold 7220

29. Accrued Interest on Bonds Sold 7230

30. Sale or Compensation for Fixed Assets 5

(Section 2-3.12 and 17-2.11)

7300

Excess of Direct Receipts/Revenues Over (Under) Direct Disbursements/Expenditures

ESTIMATED FUND BALANCE July 1, 2007

(MM/DD/YY)

0

Description

vvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvv

Major Rule Changes Effective FY2009 Eliminates “Rent Fund” (Currently Fund 80) Creates NEW “TORT

IMMUNITY/JUDGEMENT FUND” (New Fund 80)

Renames “Bond & Interest Fund” (Fund 30) to “DEBT SERVICE FUND”

Renames “Site & Construction Fund/Capital Improvement Fund” (Fund 60) to “CAPITAL PROJECTS FUND” There is no ISBE threshold requirement for

“Capital Projects”.

Major Rule Changes

Expands 7000 & 8000 Accounts (Other Finance Sources/Uses) to address pledged transfers for the “Debt Service Fund” and “Capital Projects Fund”

Adds (new) 9000 Accounts for resources such as “E-Rate Transactions”, Donated Food Commodities”, “State Textbook Loan Program”, and “QZAB Tax Credits”

Capital Projects Fund or Fund Group Renamed from the “old” Site & Construction Fund. “This fund or fund group is required to account for proceeds resulting from each bond

issue, receipts from other long term financing agreements (including impact fee agreements), or construction or maintenance grants used to finance a capital project, capital lease, lease purchase agreement, or if a tax is levied in accordance with Section 17-2.3 of the School code.”

If you have a capital project with a dedicated funding source, especially anything where debt was used as the funding source, then it should be accounted in this fund.

ISBE does not have a requirement as to a “capital projects” threshold dollar amount. Examples:

District A issues $150,000 Debt Certificate for a Repair Project at one of their school buildings. Credit Fund 60 – Capital Projects Fund the $150,000. Expenditures should be accounted for in Fund 60 for the project. When the project is complete, if there are remaining dollars in Fund 60 (Capital Projects) and the

District wishes to transfer the remaining dollars back to an operating fund (O&M), then the District would transfer from Fund 60 to Fund 20 via account #7150. The Fund 20 would reflect the transfer in account #8150.

District B receives $600,000 in Impact Fees from their local builder to be used for capital projects at their local school. Credit Fund 60 – Capital Projects Fund the $600,000 Expenditures should be accounted for in Fund 60 for any projects the District would begin using those

funds. As a recommendation, during the Fiscal 2008 Audit, District’s should request that Auditors

establish the opening fund balances for the Capital Projects Fund. NOTE: Any such transactions for pupil transportation such as leasing of buses must be

reflected in the Transportation Fund so State Funding is not impeded.

Debt Service Fund or Fund Group Replaces the “old” Bond & Interest Fund “This fund or fund group is required if taxes are levied to retire bond

principal, or to pay bond interest, or if other revenue is pledge to pay principal, interest, or service charges on other long-term debt instruments. “

Revenue may be required to be transferred in from other funds to make long term debt payments. (I.e. – Other Sources/Uses – Account 8430 transfers revenue from one fund to pay for principal on capital leases)

The Debt Service Fund will allow for debt service “expenditures” via 5300 accounts.

As previously stated, School District should work with their auditors to develop opening fund balance positions in this fund.

Example: District A, that issued a $150,000 Debt Certificate for a Repair Project, and

credited Fund 60 with the Proceeds, needs to make the principal payment on the Debt Certificate. The District intends to use operating dollars from the O & M Fund to pay for the Debt Certificates. District transfers dollars from Fund 20 (O&M) to Fund 30 (Debt Service) via account #

8400 (Funds for Principal Payments) and 8500 (Funds for Interest Payments). Fund 30 (Debt Service) would reflect the transfer of dollars in account # 7410 (Transfers from Other Funds to Pay Principal on Capital Leases) and 7510 (Transfers from Other Funds to Pay Interest On Capital Leases).

District makes principal and interest payments from Fund 30 (Debt Service) via account #5270 (Interest Payments) and 5370 (Principal Payments)

Tort Immunity and Judgment Fund Replaces old “Rent Fund” New name and purpose for Fund 80! “This fund is required if taxes are levied or bonds are sold for tort

immunity or tort judgment purposes.” As previously stated, Districts should review with their auditors

the effect of transferring existing balances established for “tort purposes” into the newly created “Tort Immunity Fund”.

Example: Revenues from Tort Levy can be directly accounted for in Fund

80. Expenditures can be accounted for through account number

2360 – 2372 Balances in Fund 80 should be established with assistance from

District’s auditors.

QUESTIONS?

School District Budget Changes

(10) (20) (30) (40) (50) (60) (70) (80) (90)

DescriptionAcct

# Educational

Operations & Maintenance

Bond & Interest Transportation Municipal Retirement/

Social Security

Site & Construction/

Capital Improvement

Working Cash RentFire Prevention

& Safety

1. ESTIMATED BALANCE ON HAND July 1, 2007 (Cash Plus Investments at Cost)

101-5 180

2.0 0 0 0 0 0 0 0 0

OTHER RECEIPTS

3. Loans from Other Funds 430

4. Loan Repayments from Other Funds 1505. Corporate Personal Property Tax Replacement Tax

Anticipation Notes406

6. Tax Anticipation Warrants Issued 407

7. Tax Anticipation Notes Issued 408

8. Teachers'/Employees' Orders Issued 409

9. State Aid Anticipation Certificates Issued 410

10. Other (Attach Itemization) 499

11. Total Other Receipts (Total Lines 3-10) 0 0 0 0 0 0 0 0 012.

0 0 0 0 0 0 0 0 0

13. Total Amount Available (Total Lines 1 & 12) 0 0 0 0 0 0 0 0 014.

0 0 0 0 0 0 0 0 0

OTHER DISBURSEMENTS

15. Loans to Other Funds 10 150

16. Loan Repayments to Other Funds 43017. Corporate Personal Property Replacement Tax Anticipation

Notes Redeemed406

18. Tax Anticipation Warrants Redeemed 407

19. Tax Anticipation Notes Redeemed 408

20. Teachers'/Employees' Orders Redeemed 409

21. State Aid Anticipation Certificates Redeemed 410

22. Other (Attach Itemization) 499

23. 0 0 0 0 0 0 0 0 024.

0 0 0 0 0 0 0 0 025.

0 0 0 0 0 0 0 0 0

Total Direct Receipts & Other Financing Sources 8

(Total from Budget Summary, Lines 6 & 33)

ESTIMATED BALANCE ON HAND June 30, 2008 (Cash Plus Investments at Cost) (Total Line 13 less line 24)

Total Direct Receipts, Other Financing Sources, & Other Receipts (Total Lines 2 & 11)

Total Direct Disbursements & Other Financing Uses 9

(Total from Budget Summary, Lines 15 & 43)

Total Other Disbursements (Total Lines 15-22)

Total Direct Disbursements, Other Financing Uses, & Other Disbursements (Total Lines 14 & 23)

Cash Summa

ry (Page 4)

Reclassifies: Interfund Loans; Notes and Warrants

School District Budget Changes

(10) (20) (30) (40) (50) (60) (70) (80) (90)

DescriptionAcct

#Educational

Operations & Maintenance

Bond & Interest TransportationMunicipal

Retirement/ Social Security

Site & Construction/

Capital Improvement

Working Cash RentFire Prevention

& Safety

RECEIPTS/REVENUES FROM LOCAL SOURCES 1000

1. General Levy 111110

2. Tort Immunity Levy 1120

3. Leasing Levy 12

1130

4. Special Education Levy 1140

5. Social Security/Medicare-Only Levy 1150

6. Area Vocational Construction Levy 1160

7. Summer School Levy 1170

8. Other Tax Levies (Describe & Itemize) 1190

9. 0 0 0 0 0 0 0 0 0

PAYMENTS IN LIEU OF TAXES

10. Mobile Home Privilege Tax 1210

11. Payments from Local Housing Authority 1220

12. Corporate Personal Property Replacement Taxes 131230

13. Other Payments in Lieu of Taxes (Describe & Itemize) 1290

14. Total Payments in Lieu of Taxes 0 0 0 0 0 0 0 0 0

TUITION

15. Regular Tuition from Pupils or Parents 1311

16. Regular Tuition from Other LEAs 1312

17. Regular Tuition from Other Sources 1313

18. Summer School Tuition from Pupils or Parents 1321

19. Summer School Tuition from Other LEAs 1322

20. Summer School Tuition from Other Sources 1323

21. Vocational Tuition from Pupils or Parents 1331

22. Vocational Tuition from Other LEAs 1332

23. Vocational Tuition from Other Sources 1333

24. Special Education Tuition from Pupils or Parents 1341

25. Special Education Tuition from Other LEAs 1342

26. Special Education Tuition from Other Sources 1343

27. Adult Tuition from Pupils or Parents 1351

28. Adult Tuition from Other LEAs 1352

29. Adult Tuition from Other Sources 1353

30. Total Tuition 0

AD VALOREM TAXES LEVIED BY LOCAL EDUCATION AGENCY

Total Ad Valorem Taxes Levied by LEA

vvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvv

FundingAcc’t

Local 1000s

Flow-Through 2000s

State 3000s

Federal 4000s

Estimated Revenues(Pages 5 -

10)

Additional Account Codes In Revenue Section

Adds “Local” Revenue accounts Impact Fees (Acct 1930) TIF Payments (Acct 1960) Driver Education Fees (Acct 1970) Vendor Contract Proceeds (Acct 1980)

School District Budget Changes

(10) (20) (30) (40) (50) (60) (70) (80)

DescriptionFunct

#Salaries

Employee Benefits

Purchased Services

Supplies & Materials

Capital Outlay Other Objects Transfers Tuition

10 - EDUCATIONAL FUND (ED)

INSTRUCTION (ED) 1000

1. Regular Programs 1100

2. Special Education Programs (Function 1200-1220) 1200

3. Educationally Deprived/Remedial Programs 1250

4. Adult/Continuing Education Programs 1300

5. Vocational Programs 1400

6. Interscholastic Programs 1500

7. Summer School Programs 1600

8. Gifted Programs 1650

9. Bilingual Programs 1800

10. Truant Alternative & Optional Programs 1900

11. Total Instruction 14 0 0 0 0 0 0 0SUPPORT SERVICES (ED) 2000

Support Services - Pupil 2100

12. Attendance & Social Work Services 2110

13. Guidance Services 2120

14. Health Services 2130

15. Psychological Services 2140

16. Speech Pathology & Audiology Services 2150

17. Other Support Services - Pupils (Describe & Itemize) 2190

18. Total Support Services - Pupil 0 0 0 0 0 0

Support Services - Instructional Staff 2200

19. Improvement of Instruction Services 2210

20. Educational Media Services 2220

21. Assessment & Testing 2230

22. Total Support Services - Instructional Staff 0 0 0 0 0 0

Support Services - General Administration 2300

23. Board of Education Services 2310

24. Executive Administration Services 2320

25. Special Area Administration Services 2330

26. 0 0 0 0 0 0Support Services - School Administration 2400

27. Office of the Principal Services 2410

28. Other Support Services - School Administration (Describe & Itemize)

2490

29. 0 0 0 0 0 0

Support Services - Business 2500

30. Direction of Business Support Services 2510

31. Fiscal Services 2520

32. Operation & Maintenance of Plant Services 2540

33. Pupil Transportation Services 2550

34. Food Services 2560

35. Internal Services 2570

36. Total Support Services - Business 0 0 0 0 0 0

Total Support Services - General Administration

Total Support Services - School Administration

vvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvv * Renamed “Payments to LEAs and Governmental Units”

Estimated Expenditure

s (Pages 11 -

19)Functions Acc’t

Instruction 1000s

Support Services 2000s

Community Serv. 3000s

**Nonprogram. Chgs. 4000s

Debt Serv. 5000s

Contingencies 6000s

Additional Accounts Added To Expenditure Functions

Instruction (1000 Accounts) New Accounts

Pre-K (Account 1125) Driver Education (Account 1700) Tuition Payments to PRIVATE Entities (Accts within 1900)

Support Services (2000 Accounts) New Accounts

Expands 2300 accounts to include Tort Immunity / Judgement Fund expenditures (examples 2360 Tort Immunity Functions, 2362 Workers’ Compensation Payments, 2364 Insurance Payments)

Renames 4000 Accounts (Nonprogrammed Charges) to “Payments to Other LEAS and Governmental Units” for payments to LEAS for Tuition and Transfers expenditures.

Expands 5000 Accounts (Debt Service) to identify the Principal and Interest payments on various “Long Term” and “Short Term” debt

Reclassifies the Object Dimensions 700 (Transfers) and 800 (Tuition) within the 600 Series (Other Objects) in combination with new function codes. The existing 700 Object (Transfers) and the 800 Object

(Tuition) are combined in a new 600 Object. The new 600 Object will have new function codes to identify – transfers, tutition etc.)

Adds other object classes for “Non-Capitalized Equipment” (700) and “Termination Benefits” (800)

Additional Accounts Added To Expenditure Functions

Non-Capitalized Equipment

Establishes the 700 Expenditure Object Account for purposes of “Non-capitalized Equipment”

This replaces the old “Transfers” Object 700. “Items that would be classified as capital assets except that they cost less

than the capitalization threshold (that a District has established) but more than the $500 minimum value established for purposes of calculating per capita cost pursuant to Section 18-3 of the School code.”

Example: District purchases 25 new computers for their “tech lab”. The computers

are $1,000.00 each. The District’s capitalization threshold is $5,000.00. The District accounts for each individual computer from an accounting standpoint. The District books the $25,000.00 expenditure in the Education Fund (10) in

Function 1100 – Regular Program, Object 700 –Non-Capitalized Equipment. If the District above had a $1,000.00 capitalization threshold, then the

District would book the expenditure into the 600 Object series.

QUESTIONS?

School District Annual Budget 0

---

DEFICIT BUDGET SUMMARY INFORMATIONOPERATING FUNDS ONLY

EDUCATIONALOPERATIONS & MAINTENANCE

TRANSPORTATION WORKING CASH TOTAL

1. Direct Revenues 0 0 0 0 0

2. Direct Expenditures 0 0 0 0

3. Difference 0 0 0 0 0

4. Estimated Fund Balance - June 30, 2008 0 0 0 0 0

*

The deficit reduction plan, if required, is developed using ISBE guidelines and format (See Tab FinPlan 2008-11).

Balanced Budget, no deficit reduction plan is required.

A deficit reduction plan is required if the local board of education adopts (or amends) the 2007-08 school district budget in which the “operating funds” listed above result in direct revenues (line 1) being less than direct expenditures (line 2) by an amount equal to or greater than one-third (1/3) of the ending fund balance (line 4).

Note: The balance is determined using only the four funds listed above. That is, if the estimated ending fund balance is less than three times thedeficit spending, the district must adopt and file with ISBE a deficit reduction plan to balance the shortfall within three years.

Deficit Budget

Summary(Page 21)

“Operating Funds”

• Educational

• O&M

• Transportation

• Working Cash

School District Annual Budget

--District Number

0District Name

0County

Educational FundOperations &

Maintenance FundTransportation Fund Working Cash Fund Total

1.

0 0 0 0 0

RECEIPTS/REVENUESAcct No.

2. Local Sources 1000 0 0 0 0 03. Flow-through Receipts/Revenue from One LEA to

Another LEA2000

0 0 0 04. State Sources 3000 0 0 0 0 0

5. Federal Sources 4000 0 0 0 0 0

6. 0 0 0 0 0

DISBURSEMENTS/EXPENDITURESFunct No.

7. Instruction 1000 0 0

8. Support Services 2000 0 0 0 0

9. Community Services 3000 0 0 0 0

10. Nonprogrammed Charges 4000 0 0 0 0

11. Debt Services 5000 0 0 0 0

12. Provisions for Contingencies 6000 0 0 0 0

13. 0 0 0 014.

0 0 0 0 0

OTHER FINANCING SOURCES

15. Transfers from Other Funds 7100 0 0 0 0 0

16. Sale of Bonds 7200 0 0 0 0 0

17. Sale or Compensation for Fixed Assets 7300 0 0 0 0

18. School Technology Revolving Loan Program 7500 0 0 0

19. Other Sources 7900 0 0 0 0 0

20. Total Other Financing Sources 0 0 0 0 0

OTHER FINANCING USES

21. Transfers to Other Funds 8100 0 0 0 0 0

22. Other Uses 8190 0 0 0 0

23. Total Other Financing Uses 0 0 0 0 0

24. 0 0 0 0 0

25. 0 0 0 0 0

FY2007-08

ESTIMATED BEGINNING FUND BALANCES (must equal prior Ending Fund Balance)

ESTIMATED BUDGET

TOTAL OTHER FINANCING SOURCES AND (USES) (Line 20 minus Line 23)

ESTIMATED ENDING FUND BALANCE (Total of Lines 1, 14, 24)

Total Receipts/Revenues

Excess of Receipts/Revenue Over/(Under) Disbursements/Expenditures

Total Disbursements/Expenditures

Deficit Budget

Plan (Pages 22-28)

QUESTIONS?

School District Annual Budget

This is an estimated Limitation of Administrative Costs Worksheet only. It is intended for use during the budgeting process to estimate the district's percent increase of FY2008 budgeted expenditures over FY2007 actual expenditures. Budget information is copied to this page. Insert the prior year estimated actual expenditures to compute the estimated percentage increase (decrease).

The official Limitation of Administrative Costs Worksheet is attached to the end of the Annual Financial Report (ISBE Form 50-35) and may be submitted in conjunction with that report.

An official Limitation of Administrative Costs Worksheet can also be found on the ISBEwebsite at www.isbe.net/sfms/AdminCaps/AdminCaps.htm .

School District Name:

RCDT Number:

Estimated Actual Expenditures, Fiscal Year 2007 Budgeted Expenditures, Fiscal Year 2008(10) (20) (10) (20)

DescriptionFunct.

No.Educational

Operations & Maintenance

Total EducationalOperations & Maintenance

Total

1. Executive Administration Services 2320 0 0 0

2. Special Area Administration Services 2330 0 0 03. Other Support Services - School

Administration2490

0 0 0

4. Direction of Business Support Services 2510 0 0 0 0

5. Internal Services 2570 0 0 0

6. Direction of Central Support Services 2610 0 0 07.

0 0

8. Totals 0 0 0 0 0 09.

Enter Actual Data!Estimated Percent Increase (Decrease) for FY2008 (Budgeted) over FY2007 (Actual)

Deduct - Early Retirement or Other Pension Obligations Included Above

(For Local Use Only)ESTIMATED LIMITATION OF ADMINISTRATIVE COSTS

00-000-0000-00

0

(Section 17-1.5 of the School Code)

ESTIMATED LIMITATION OF ADMINISTRATIVE COSTS WORKSHEET

Administrative Costs

(Page 29)

- Estimate of FY08 Budgeted Expenditures Compared to FY07 Actual Expenditures

Questions?

School District Annual Budget REPORTING OF PUBLIC VENDOR CONTRACTS OF $1,000 OR MORE

(Sheet is unprotected and can be re-formatted as needed, but must be used for submission)

Name of VendorProduct or Service

ProvidedNet Revenue

Non-Monetary Remuneration

Purpose of ProceedsDistribution Method and Recipient of

Non-Monetary Remunerations Distributed

In accordance with the School Code, Section 10-20.21, all school districts are required to file a report listing ‘vendor contracts’ as an attachment to their budget. In this context, the term "vendor contracts" refers to "all contracts and agreements that pertain to goods and services that were intended to generate additional revenue and other remunerations for the school district in excess of $1,000, including without limitation vending machine contracts, sports and other attire, class rings, and photographic services. The report is to list information regarding such contracts for the fiscal year immediately preceding the fiscal year of the budget. All such contracts executed on or after July 1, 2007 must be approved by the school board.

Vendor Contracts(Page 30)

- Vendor Contracts of $1,000 or More

New Revenue Account

1980

Questions?