Webinar Reminder
If you have specific questions for the Finance
Information Sharing & Questions webinar held on Tuesday’s at 9:00 to 9:30
please send those in time to allow us to research if necessary prior to the
webinar. The email address is finance.officers.only@dpi.nc.gov
Health Plan and Retirement Rates
For FY 2016-17, school districts and participating charter
schools should budget $5,659 as the annual (fiscal year) cost for the Health
Plan. The retirement rate should be at
16.33% (per Section 36.20.(b) of the Budget Bill). State funding will be distributed
when OSBM decides to establish those rates and releases funds to us from the
Reserve for Future Benefits. The use of the higher rates is also
referenced in the Budget:
Section 36.24.(b) of S.L. 2016-94: If the Director of
the Budget determines that the additional cost‑controlling measures adopted by
the Board of Trustees and the State Treasurer as directed in subsection (a) of
this section are sufficient to reduce the projected employer premium increases
to four percent (4%) or less in both the 2018 and 2019 plan years, then the
Director of the Budget is authorized to reallocate funds in the Reserve for
Future Benefit Needs to individual State agency budgets. The projected employer premium
increases should be calculated assuming the Reserve for Future Benefit Needs is
reallocated.
Federal Cash Zero Out
During the Budget Update session at the FBS conference, it
was communicated that the Federal Cash Zero Out process will be discontinued,
effective immediately. Due to the need for some LEAs to have the time to
review and/or modify their current procedures, this action will be delayed
until further notice. Any questions or comments on this item should be
directed to Alexis Schauss at alexis.schauss@dpi.nc.gov
FY 2016 - 13th Month
MFR File – Reminder (LEAs Only)
This is a reminder
that we will pull your FY 2016 13th month MFR File on Wednesday evening,
July 27, 2016. Please make sure your
LEA is signed into FY 16.
The 13th month information
is very important because the information represents your "Per Pupil"
calculation and the information is reported in the NC School Report Cards. All 115 LEAs will need to upload their FY
2016 13th Month MFR files by Wednesday, July 27, 2016.
Please do the
following before building the 13th Month MFR file (Please make sure that you
are signed into FY 16):
(1) Book the Period
12 zero-out entry to your GL in June (Period 12).
(2) Correct all of
your MFR errors, including local account codes.
(3) Review the
AFR/MFR Recommendations located on the Financial and Business Services web
page:
http://dpi.state.nc.us/docs/fbs/finance/reporting/amfr/recommendations.pdf
(4) Local Fund 2 PRC 056 mirrors State Fund 1 PRC 056;
otherwise, use Local Fund 2 PRC 706.
(5) Your LEA will
need to record your State Textbook expenditures through journal entries. (Rev.
1-3211-130-000 and Exp. 1-5110-130-412)
If you have questions
about your MFR file, please contact Roxane Bernard at (919) 807-3725 or roxane.bernard@dpi.nc.gov or Richard Smith at 919-807-3729 or richard.smith@dpi.nc.gov.
Federal Overspent Programs (LEAs
Please wait until DPI sends your LEA a letter providing
instructions on how to pay back any federal overspent programs from FY
15-16. Your LEA cannot pay back
federal overspent programs through the BUD system.
Also, your LEA cannot prepare BUD entries to pay back Single
Audit Questioned Costs. Your LEA will
need to send in a check from local funds to pay back federal questioned
costs.
Your LEA can pay back state overspent for FY 15-16 as
a prior year refund within the BUD system.
If you have additional questions, please contact Roxane
Bernard at 919-807-3725 or roxane.bernard@dpi.nc.gov
or Richard Smith at 919-807-3729 or richard.smith@dpi.nc.gov
Charter Schools - State PRC 036 First Installment (Charter
Schools Only)
The Allotment section allotted the first state installment
of PRC 036 for charter schools on Tuesday, July 19, 2016.
New charter schools will need their certificate of occupancy
approved by the Office of Charter Schools and their cash management and MSAS
forms processed before they have access to their first installment of state
funds.
If you have
questions about your MFR file, please contact Roxane Bernard at (919) 807-3725 or roxane.bernard@dpi.nc.gov
|
