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Disbursements/Expenditures (Pages 15 - 22) Functions Acc’t Instruction 1000s Support Services 2000s Community Serv. 3000s Nonprogram. Chgs.* 4000s Debt Serv. 5000s Contingencies 6000s * Renamed - Payments to Other Districts and Governmental Units School District AFR
Audits are in accordance with generally accepted governmental auditing standards ---“Standards for Audit of Government Organizations, Programs, Activities and Functions” (2007) published by the Comptroller General of the United States.
Districts are to administer and use the SFSF program funds in accordance with all applicable statutes, regulations, and applications
Recipients cannot use SFSF funds for:
Payment of maintenance costs;
Stadiums or other facilities used for athletic contests, exhibitions or other events for which admission is charged to the general public;
Purchase or upgrade of vehicles;
Improvements of stand-alone facilities whose purpose is not the education of children – such as central office administrative buildings;
Financial assistance to students to attend private elementary or secondary schools unless the funds are used to provide special education and related services to children with disabilities as authorized by the IDEA Act;
School modernization, renovation, or repair that is inconsistent with State Law.
All funds must be expended in accordance to their respective purposes as authorized by the relevant federal law, regulation, and guidance
In order to comply with the federal regulations, each district receiving funds under ARRA shall include in its annual financial report (AFR) a detailed schedule of its receipts and expenditures for each revenue source received
Districts will need their auditors to audit the detailed schedule of receipts and expenditures
Districts may now be required to have an A-133 Single Audit conducted. They should inquire with their auditor if this will be necessary for the audit of their Fiscal Year 2009 and if their auditor meets the necessary criteria to conduct A-133 audits
ISBE Emergency Rules AFR - Page 23 ARRA -Schedule of Receipts & Disbursements
If a district is expending ARRA funds in FY 2009 and these expenditures are not budgeted in the current budget, a budget amendment will be necessary
If a district is expending ARRA funds in FY 2009 and the total expenditures in any fund is more than their current budget, a budget amendment will be necessary
If a district is expending just ARRA GSA, most probably the expenditures are already budgeted, the total expenditures in any fund will not increase and a budget amendment will not be necessary
If a district is expending ARRA Title I, ARRA IDEA, etc. most probably the expenditures are not budget, the total expenditures will increase and a budget amendment will be necessary – this includes flow-through funds from a special education cooperative
Districts will be required to document expenditures with fund, function, object, and revenue account code for ARRA expenditures within their detailed ledger reports as ARRA Funds can be obligated and expended through September 2011.
ISBE budget is not expected to change as ISBE does not collect expenditures to the fourth dimension – “revenue account code”
For FY 2012 AFR
The 2012 AFR will include the ARRA schedule of receipts and expenditures to document revenue/expenditures of ARRA funds