MASBO Regional Meetings MASBO Regional Meetings

In these MASBO regional meetings held in July 2020, valuable insights were shared regarding multiple revenue lines, certified taxable value, net pension liabilities, and budget validations. Discussions covered various topics such as transportation, revenue codes, and financial reporting. Attendees learned about important updates, funding opportunities, and financial responsibilities in a school finance context.

• MASBO
• Regional Meetings
• Revenue Insights
• Fiscal Updates
• School Finance

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1. MASBO Regional Meetings MASBO Regional Meetings July 2020 July 2020 Steve Hamel, Interim Services/Trainer Marie Roach, Association Services Coordinator Denise Williams, Executive Director 406-431-0124 406-461-8804 406-461-3659 July 27 @ 10:00 a.m. Region 1 July 28 @ 10:00 a.m. Region 3 July 29 @ 10:00 a.m. Region 5 July 27 @ 2:00 p.m. Region 2 July 28 @ 2:00 p.m. Region 4 July 29 @ 2:00 p.m. Region 6

2. MASBO Regional Meetings TFS, Budget and a little Pupil Transportation (led by Steve Hamel) TFS Multiple Revenue Lines Certified Taxable Value Net Pension Liability MAEFAIRS Validations Notice of Budget Hearing Bus Inspections MASBO News (led by Marie Roach) P-card rebate checks New MASBO logowear CARES Act Funding (led by Denise Williams) ESSER Funds OPI Coronavirus Relief Funds Governor

3. TFS, Budget and a little Pupil Transportation TFS, Budget and a little Pupil Transportation TFS Multiple Revenue Lines Certified Taxable Value Net Pension Liability MAEFAIRS Validations Notice of Budget Hearing Bus Inspections

4. Multiple Revenue lines on TFS Revenue codes renamed/un-abbreviated. 2018-19 revenues reported with abbreviated titles 2019-20 revenues reported with complete titles Only an issue this year.

5. Multiple Revenue Examples, not complete, you will see others, especially Transportation

7. CERTIFIED TAXABLE VALUE Supposed to be to you by August 3rd

8. NET PENSION LIABILITIES http://mpera.mt.gov/EMPLOYERS/2019-GASB-Information https://trs.mt.gov/trs-info/employersgasbreports2019 OPI Leadership School Finance Accounting Scroll to bottom of page

9. Validations In both TFS and Budget, run report

10. Validations In both TFS and Budget, run report

11. FINAL BUDGET MEETING NOTICE Montana Code Annotated 2019 TITLE 20. EDUCATION CHAPTER 9. FINANCE Part 1. School Budgets Notice Of Final Budget Meeting 20-9-115. Notice of final budget meeting. Between July 1 and August 10 of each year, the clerk of each district shall publish one notice, in the local or county newspaper that the trustees of the district determine to be the newspaper with the widest circulation in the district, stating the date, time, and place that the trustees will meet for the purpose of considering and adopting the final budget of the district, stating that the meeting of the trustees may be continued from day to day until the final adoption of the district's budget, and stating that any taxpayer in the district may appear at the meeting and be heard for or against any part of the budget.

12. BUS INSPECTION REPORTS Due 30 days before the start of the fall semester

13. MASBO News MASBO News P-card rebate checks 149 p-Card participants purchased over $26.1 million between April 2019 and March 2020 Rebates checks totaling $302,108.52 issued July 28, 2020 Rebate amounts posted masbo.com/services/procurement cards Email Marie if you don t receive your check by Aug 15 Please cash as soon as possible New MASBO logowear 2020 Share the Vision t-shirts available for purchase S-4XL Order thru link on masbo.com home page Email Marie with any questions

14. CARES Act Funding CARES Act Funding ESSER Funds OPI Coronavirus Relief Funds (CRF) Governor

15. CARES Act Funding CARES Act Funding OPI ESSER Grants Governor CRF Grants Application method E-Grants Certification document Deadlines Apply by 7/31/2020 amend by 9/30/2020 Cash requests thru 25thof month Payments on 10thof following month Two opportunities Apply by July 31; Payment on Aug 7 Apply by Aug 14; Payment Aug 21 Spending timeline March 27, 2020 September 30, 2022 March 1, 2020 December 31, 2020 Allocation method FY2020 Title I allocations: $10,000 minimum $418.55 X FY2021 budget limit ANB Allowable expenditures See OPI Guidance See Governor s one-pager Coding Use a unique Project Reporter Code (PRC) Fund X15 Miscellaneous Programs Revenue source: 7650 Expenditure Program: 765 Fund X15 Miscellaneous Programs Revenue source: 7700 Expenditure Program: 770

16. Spending Considerations MUST BE RELATED TO COVID-19 OPI ESSER Funds The CARES Act has general guidance that all grants be used to prevent, prepare for, and respond to coronavirus. Governor s Coronavirus Relief Funds Expenses must be specifically related to adjusting, adapting, and providing accommodations for students, parents, educators, and schools and their learning environment due to the needs generated by COVID 19. TRACK AND DOCUMENT AS YOU SPEND

17. Spending Considerations TIMELINES OPI ESSER Funds March 27, 2020 thru September 2022 $$$ SPEND THIS MONEY FIRST! Governor s Coronavirus Relief Funds March 1, 2020 thru December 30, 2020

18. Spending Considerations TIMELINES Governor s Coronavirus Relief Funds March 1, 2020 thru December 30, 2020 FY2020: March 1, 2020 June 30, 2020 FY2021: July 1, 2020 December 31, 2020

19. Spending Considerations TIMELINES Governor s Coronavirus Relief Funds recoding expenditures FY2020: March 1, 2020 June 30, 2020 You can reimburse your district funds for money spent on COVID-19 related items that you would have spent on something else Restores budget authority Increases reserves Potentially increases fund balance reappropriated (lowers taxes)

20. Spending Considerations TIMELINES Governor s Coronavirus Relief Funds recoding expenditures Identify expenditures made during March 1, 2020 June 30, 2020 Accrual entry 6-30-2020 to recode COVID-19 related expenditures incurred during the period March 1, 2020 June 30, 2020 using the Governor s Coronavirus Relief Fund grant.

21. Spending Considerations TIMELINES Governor s Coronavirus Relief Funds Accrual entry 6/30/2020 Debit: XXX-170 Due from Other Funds Credit: XXX-XXX-XXXX-PRC Expenditure[PRC = project reporter code, if used in original coding] Debit: X15-770-XXXX-XXX-PRC Expenditure[PRC is required for this entry] Credit: X15-606 Due to Other Funds Debit: X15-180 Due from Other Governments Credit: X15-7700-PRC Gov CRF Grant Revenue[PRC is required for this entry]

22. Spending Considerations TIMELINES Governor s Coronavirus Relief Funds receipt of grant cash Apply by July 31; Payment on Aug 7 or Apply by Aug 14; Payment Aug 21

23. Spending Considerations TIMELINES Governor s Coronavirus Relief Funds Receipt of cash in August 2020 For receipt of the cash in Fund 15 Debit: X15-101 Cash [full amount received] Credit: X15-180 Due From Other Governments [accrual from FY2020] Credit: X15-7700-PRC Governor s CRF Grant [portion not related to accrual] Then send the cash to the fund(s) involved in the June 30, 2020 entry Debit: X15-606 Due to Other Funds Credit: X15-101 Cash Debit: XXX-101 Cash Credit: XXX-170 Due from Other Funds

24. Spending Considerations TIMELINES Governor s Coronavirus Relief Funds current year expenditures FY2021: July 1, 2020 December 31, 2020 Coordinate with district s re-opening plan See MT-PEC Guidance Personnel hired for full school year Use Gov s CRF funds through 12/31/2020 Use other funding source for 1/1/2021 end of year Coordinate with OPI ESSER Funds? may need to amend the grant