Fiscal Requirements

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Fiscal Requirements June 25th
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• I am proud of Tennessee's reputation for good
  government, and I want and expect us to be a
  model for other states in how we handle Recovery
  Act money sensibly turning square corners, and
  with every nook and cranny of what we do and what
  we spend well-lighted and visible to the public.
• Governor Phil Bredesen

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State Budget Update

• FY09 FY10 of FY09
• Extended Contracts 24,206,000 15,000,000
  61.9
• CSH 15,604,600 15,422,500
  98.2
• Internet Connectivity 4,678,400 3,678,400
  78.6
• Professional Dev. 1,667,600 1,667,600
  100
• SSMS 2,700,000 3,700,000 137
• Family Resource 3,463,200 3,463,200
  100
• Safe Schools 4,841,200 4,841,200
  100
• Pre-K 83,000,000 83,490,000 100.6
• Currently, Safe Schools is only being funded at
  3,092,800 or 63.8 of the FY09 amount. If
  Revenues do not drop further it may be funded at
  full budgeted amount for FY10, 4,841,200.

American Recovery and Reinvestment Act of
2009 Speed economic recovery ? Create and save
jobs ? Provide needed services to Tennesseans
4
State Fiscal Stabilization Funds (SFSF)Education
Portion (81.8)

• BEP FY09 18,000,000
• BEP FY10 172,400,000
• BEP FY11 172,214,400
• Higher Education 412,520,600
• Tennessees Total 775,135,000

American Recovery and Reinvestment Act of
2009 Speed economic recovery ? Create and save
jobs ? Provide needed services to Tennesseans
5
State Fiscal Stabilization Funds (SFSF)State
Gov. Portion (18.2)

• FY10 FY11
• Extended Contract 15,000,000 15,000,000
  
• CSH 15,422,500 15,422,500
• Internet Connectivity 2,063,000
  2,063,000
• Professional Dev. 582,000
  582,000
• SSMS 2,700,000 2,700,000
• Family Resource Centers 3,463,200
  3,463,200
• Safe Schools 3,092,800 3,092,800
• Exemplary Educators 2,250,000
  2,250,000
• Other DOE 4,112,800 3,862,800
• Education Total 51,686,300 51,436,300
• Other State Gov. 51,447,200
  17,893,200
• Total State Gov. 103,133,500 69,329,500
• Total FY10 FY11 172,463,000

American Recovery and Reinvestment Act of
2009 Speed economic recovery ? Create and save
jobs ? Provide needed services to Tennesseans
6
SFSF Total

• Education (81.8) 775,135,000
• State Gov. (18.2) 172,463,000
• TNs SFSF Total 947,598,000

American Recovery and Reinvestment Act of
2009 Speed economic recovery ? Create and save
jobs ? Provide needed services to Tennesseans
7
SFSF (Education/81.8) Account Numbers

• BEP ARRA Revenue 46512
• BEP ARRA Exp. 71100-116-xxx
• Department is encouraging cost center.
• 71100-116 (Regular Instruction Teachers) should
  be sufficient to cover the entire ARRA portion of
  a LEAs BEP.

American Recovery and Reinvestment Act of
2009 Speed economic recovery ? Create and save
jobs ? Provide needed services to Tennesseans
8
LEA Reporting Requirements

• LEAs will report 71100-116 expenditures after the
  second quarter of FY10 FY11 to cover the amount
  in the LEA SFSF application (BEP).
• LEAs will have 5 days at the close of the quarter
  to report expenditures for that quarter.
• Local Finance will then flow out that amount of
  funds in 46512 in the February BEP payment.

American Recovery and Reinvestment Act of
2009 Speed economic recovery ? Create and save
jobs ? Provide needed services to Tennesseans
9
SFSF (State Gov./18.2) Account Numbers

• Current New
• Extended Contract 46612 46615
• CSH 46590 46591
• Internet Conn. 46590 46592
• Professional Dev. 46590 46593
• Family Resource 46590 46594
• SSMS 46590 46595
• Safe Schools 46980 46981
• These expenditures will have to be cost centered
  and accounted for separately.

American Recovery and Reinvestment Act of
2009 Speed economic recovery ? Create and save
jobs ? Provide needed services to Tennesseans
10
USDA Accounting

• USDA Food Service Equipment
• Revenue 47115
• Expenditure 73100-710-xxx
• These expenditures will have to be cost centered
  and accounted for separately.

American Recovery and Reinvestment Act of
2009 Speed economic recovery ? Create and save
jobs ? Provide needed services to Tennesseans
11
Quarter Dates and Deadlines

• Expenditures will be the only thing reported in
  the quarterly reports, revenue is not required to
  be reported.
• There will not be a quarterly report for 2008
  2009, any ARRA expenditures during 2008 2009
  will be captured through eReporting via the
  Annual Financial Report.

American Recovery and Reinvestment Act of
2009 Speed economic recovery ? Create and save
jobs ? Provide needed services to Tennesseans
12
2009 2010 Quarter Dates and Deadlines

• Quarter 1 (July Sept) October 7th
• BEP ARRA funds will then flow out as a part of
  the November BEP payment in BEP ARRA Revenue
  46512. The remainder of the November BEP payment
  will flow out in BEP Revenue 46511.

American Recovery and Reinvestment Act of
2009 Speed economic recovery ? Create and save
jobs ? Provide needed services to Tennesseans
13
2010 2011 Quarter Dates and Deadlines

• Quarter 1 (July Sept) October 7th
• BEP ARRA funds will then flow out as a part of
  the November BEP payment in BEP ARRA Revenue
  46512. The remainder of the November BEP payment
  will flow out in BEP Revenue 46511.

American Recovery and Reinvestment Act of
2009 Speed economic recovery ? Create and save
jobs ? Provide needed services to Tennesseans
14
eReporting

• The quarterly reports will be done via eReporting
  in the AFR Detail Report.
• LEAs will report YTD total for the first quarter.
• The file upload option in eReporting will be
  available, assuming all LEAs will use
  71100-116 manual entry would probably be the
  easier method.
• Please contact your fiscal consultant for
  technical assistance with eReporting.

American Recovery and Reinvestment Act of
2009 Speed economic recovery ? Create and save
jobs ? Provide needed services to Tennesseans
15
eReporting AFR Detail
American Recovery and Reinvestment Act of
2009 Speed economic recovery ? Create and save
jobs ? Provide needed services to Tennesseans
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eReporting

• After each quarterly reporting cycle, the Office
  of Local Finance will capture the expenditures in
  a database and then zero out all amounts in
  eReporting.
• These amounts will be removed from eReporting
  when a LEA begins completing Annual Financial
  Report.

American Recovery and Reinvestment Act of
2009 Speed economic recovery ? Create and save
jobs ? Provide needed services to Tennesseans
17
Questions???
American Recovery and Reinvestment Act of
2009 Speed economic recovery ? Create and save
jobs ? Provide needed services to Tennesseans