W'A'S'D'A' NEW ADMINISTRATORS WORKSHOP

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W.A.S.D.A. NEW ADMINISTRATORS WORKSHOP

• BUILDING YOUR
• FIRST YEAR BUDGET
• THE STATE PERSPECTIVE
• February 1, 2006
• Jerry Landmark
• Karen Kucharz

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SCHOOL FINANCE TEAM

• Our goal is to help you help yourself.but were
  always available in case you need more!
• The most important outcome of formal education
  is to help students become independent of formal
  education Paul Gray in Technology Review
• Handouts
• Finance Team Home Page/Team Assignments
• The Big Perspective Road Map
• Blank 06-07 Revenue Limit Worksheet
• Fund 10 Sample Budget
• Budget Adoption and Hearing Worksheets
• Cost Increases vs. Revenue Limit Change
• Debt Timeline
• Status Deadlines
• Power Point Slides

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How We Can Help You

• Get on our listserv a weekly message updating
  you on school finance topics of concern- by
  sending an email to one of the finance
  consultants
• Watch the WASDA Library Videos presented by the
  Finance Team
• Attend one of the Spring Finance Workshops held
  in April.

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How We Can Help You

• Attend workshops sponsored by WASDA WASBO that
  we present at
• Everything You Wanted to Know About School
  Finance.. March 15 in Madison, March 22 in
  Wisconsin Rapids
• Accounting Conference, March 2930
• Getting It Right in October
• School Finance Academy, July 1920.

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How We Can Help You

• Become familiar with our website at
• http//www.dpi.wi.gov/sfs/index.html
• Dont hesitate to call one of us for questions or
  guidance!
• See Handout Finance Team Home Page/Team
  Assignments

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The Big Picture
Certify Levies via PI-401 PC-401 (in portal)
Revenue Limit Calculation
3rd Friday Count, Oct 1 Tax Values, October 15
Aid
Annual Meeting?
Budget Planning Papers
Send tax bills. PI-1508
Budget Adjustments to BOE
Budget Report PI-1504
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Helping You Develop Your Budget Most Important
Revenue Limit

• The 06-07 Revenue Limit is a key piece of your
  budgeting..check the link to the latest one we
  have on the web site.
• Lets take a brief look.

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Helping You Develop Your Budget Most Important
Revenue Limit
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Helping You Develop Your Budget Most Important
Revenue Limit
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Helping You Develop Your Budget Most Important
Revenue Limit
Revenue Limit Calculation
Budget Planning Papers
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Helping You Develop Your Budget Next Comparing
Budgets

• A Birds Eye View

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Helping You Develop Your Budget What About Aid?

• Know what revenue youre getting, and when youll
  receive it
• Equalization AidTax LeviesCategorical
  AidsFederal GrantsLocal Fees
• Get some of these numbers from the Aid
  Information page on the left-hand sidebar of our
  website.
• Use the State Aids Payment Schedule on our
  website scan bar to help determine cash flow.

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Helping You Develop Your Budget Equalization Aid

• There is little need to figure out your
  equalization aid at this time to prepare for the
  budget the revenue limit determines how much
  money you have available.
• DPI will provide an estimate in April and July.
• Equalization aid plus the funds 10, 38 and 41 tax
  levies equal the revenue limit amount.

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Helping You Develop Your Budget Equalization Aid

• If you want to do an aid estimate before we give
  you one in April, use the Simplified Percentage
  Method on our website under Worksheets
  Executable
• Keep in mind we dont have the 06-07 guarantees
  or cost ceiling numbers yet - any estimate will
  be little more than a guess - so, lets look at
  05-06.

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Helping You Develop Your Budget What About Debt?

• Debt is an important part of the budget process.
  Questions on refinancing or referendum debt
  should be referred to Gene Fornecker
• Info on debt is on our website look for Debt
  Reporting
• Is your debt in Fund 38 or 39?
• Remember Referendum debt does not affect
  revenue limit, but it DOES affect tax levy!

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Helping You Develop Your Budget A Final
Heads-Up About Debt

• The debt levy is determined by calendar-year
  payments the budget reflects fiscal-year
  payments.

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Helping You Develop Your Budget Whats New in
Account Codes?

• Find out the latest accounting changes click
  WUFAR on the left-hand side bar of the web
  site.
• It provides a number of help tools for school
  accounting, including
• Definitions
• Links to information in special areas such as
  Membership Debt Service Tax Transactions
• Sample transaction coding
• Easy to access matrix for building allowable
  codes.

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Helping You Develop Your BudgetWhats Fund
Balance?
Do a cash flow analysis to help determine
short-term borrowing needs. Use our Fund Balance
Practices web page for help with fund and cash
balance. Sooner or later, someone will ask you
to explain it to them!!!
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Helping You Develop Your BudgetDo You Need to
Know What Others Are Doing?
The School Finance Data Warehouse can help you
see what other districts spend in a particular
area and it has your history, too!

• - it provides districts, legislators, and general
  public direct reading access to the DPI database.
  This is audited financial information.

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Helping You Develop Your BudgetAfter the
Preparation..

• Lets look at the Budget Hearing and Adoption
  worksheet on the web page

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Helping You Develop Your BudgetReporting to DPI

• Find out whats due and when go to the
  Reporting Portal on the web site. Its on the
  Status and Deadlines page.
• See Handout

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• Looking at it in a different way..

Total all sources of revenue
Outline Expected Cash flow
Calculate Revenue Limit
Calculate salaries, wages, and fringe benefits
Calculate a budget for fixed expenses i.e.
heat, utilities, non-referendum debt
Calculate a budget for educational programs
Is end result balanced.? Cuts? Use Fund Balance?
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• SCHOOL FINANCE WEB PAGE
• http//www.dpi.wi.gov/sfs/index.html
• Please contact us with questions or comments!

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Or call

• Lori Ames, Consultant, 264-3464
• Brad Adams, Consultant, 267-3752
• Karen Kucharz, Consultant, 267-9707
• Jerry Landmark, Assistant Dir., 267-9209
• Gene Fornecker, Auditor, 267-7882
• Natalie Rew, Auditor, 267-9212
• Kathryn Guralski, Auditor, 266-3862
• David Carlson, Director, 266-6968