Weekly Finance Newsletter - August 11, 2017

Having trouble viewing this email? View it as a Web page.

 

NCDPI - Financial Services Banner

August 11, 2017

FINANCIAL AND BUSINESS SERVICES

Financial and Business Services is made up of two divisions: School Business Administration,
and Financial Services. These Divisions report to Adam Levinson, CFO

Friendly Reminder to all Finance Officers and Interims

Thumbs Up

Any time you change who is occupying your Finance officer position, please notify Annette Clifton at Annette.clifton@dpi.nc.gov.

 

Please refer to the following link for the Finance Officers Policy Manual. https://stateboard.ncpublicschools.gov/policy-manual/finance-officers/professional-certification-program-for-nc-school-finance-officers


FY 2018 Travel Subsistence Rate Changes

Information regarding Travel Subsistence Rate Revision, Effective July 1, 2017, is available on the North Carolina Office of State Budget and Management’s (OSBM) webpage at https://ncosbm.s3.amazonaws.com/s3fs-public/documents/files/memo20170706_TravelSubsistenceRateChanges.pdf


Monthly Financial Reports (LEAs Only)

Calendar

DPI netviewed your July 2017 MFR reports yesterday (Thursday, August 10) for the month of July 2017 (Period 1). 

DPI will netview your latest 13th month 2017 MFR reports next Wednesday, August 16, from the Tuesday, August 8, 2017 pull.  The MFR reports are your general ledger and there is a report called the PGA10RP5 MFR Revenue/Expenditure Summary Report that should assist you with Funds 1 and 3 Revenue and Expenditure differences.

 

The Final 13th month 2017 MFR pull will be on Tuesday, August 29, 2017.

 

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.

 


Federal Overspent Programs (LEAs Only)

Please do not attempt to pay back overspent federal funds until DPI sends your LEA a letter providing instructions on how to pay back federal overspent programs from FY 2016-17.  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 2016-17 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.

 



Don't Miss This

Compliance with Audit/Financial Reporting Due Dates

 

Please make sure that you meet all published deadlines for audit/financial reporting!  Failure to provide timely and complete required reports, including responses to federal fiscal monitoring reports and audit resolution letters, constitutes noncompliance with state and federal laws and regulations.  State and federal legislation authorizes DPI to impose enforcement remedies due to noncompliance.  Instances of repeated or chronic failure to respond will be referred to the State Board of Education in conjunction with a request that appropriate action be taken as prescribed by North Carolina General Statute § 115C-438, 2 CFR 200.338 and SBE Policy CHTR-006.  Remedies for enforcement include the following:

  • Temporarily withholding payments, including salaries for administrative officers
  • Disallowing costs
  • Suspending or terminating awards
  • Initiating suspension or debarment proceedings
  • Withholding further federal or state awards
  • Assigning Financial Noncompliance status (for a charter school)
  • Implementing other remedies that may be legally available.

 

Please contact Leigh Ann Kerr at 919-807-3553 or leighann.kerr@dpi.nc.gov with any questions about audit/financial reporting due dates or processes.