Currently Reading:
The Importance of October for Schools and Financial Reporting

The Importance of October for Schools and Financial Reporting

October is a critical financial month for schools. Checking the first quarter statistical report and the October child count is of utmost importance. The trends between the end of 2019 and the start of 2020 indicate that there is added value in making sure that every student is counted in each category. If the district you work in is coming off its high year, this makes going through the data even more important. This is your opportunity to make sure you are checking your counts and ensuring that an accurate census of your district is completed and reflected for the purposes of State Aid.  

If you haven’t checked your estimate of needs, now would be a good time to complete this task. A good look at your allocations and your expenditures could keep problems from arising later. If you are not certain of using the estimate of needs for this record check, contact me or the person who prepared your estimate of needs and go over the document.  The most important thing in this check is to make sure that all your spending will be within your allocations. It is also wise to look at the personal property portion of your district's valuation to check the appreciation or depreciation of the district's personal property. This can help to alleviate issues in future budgeting activity.  

A comparison of federal program allocations to expenditures is also important at this time of year: check the amount of federal program allocations against your estimate of needs.  The most common mistake in managing allocations is to go over the allocation in Child Nutrition. This is extremely easy to do if you have added staff, made a major purchase or did a bona fide loan agreement in the previous year and spent down the Child Nutrition balance forward.  

If you need help in any of these areas please feel free to contact me at andy.evans@opsrc.net, and we will set a time to work through your questions.  

Andy Evans

Director, Finance

Andy serves as the Finance Director for OPSRC. In this role, he provides help in financial and business-related areas for schools. This includes budgets, managing cash flow, Estimate of Needs, federal programs and general service to aid in the effective use of district resources. Additionally, Andy serves as a resource in customizing budget spreadsheets, projection sheets, and other financial tools essential to administrators in maintaining their district’s financial health.

You may also like...

PD: Not Just for Teachers Anymore!

Fact: Your classroom is full of barriers Every teacher faces a few “elephants” in the classroom. You might refer to them as barriers, distractions or interruptions--things that get in the way of students being fully engaged in their learning. No matter the term you use, though, they require you to reconsider how you relate to and instruct your students and how you manage your classroom.

Read More
What's Your District's Social Media Stance?

I get it. Opening up social media sites on your district’s network can be scary and overwhelming, especially with the constant reports about online bullying and inappropriate communication between educators and students. But what is equally concerning to me is knowing that our students use unrestricted social media and other communication tools anyway, many without supervision, guidance and no understanding of their content’s ramifications.

Read More
New DOJ Transgender Guidance

U.S. Attorney General Jeff Sessions has issued a memorandum to all U.S. Attorneys directing that the Department of Justice's new policy is that Title VII of the Civil Rights Act of 1964 does not protect employees from discrimination based on transgender status.

Read More
The Importance of Administrator Presence at Teacher PD Sessions

As I continue to do more professional development around the state, two key thoughts are always confirmed:

Read More

Join in on the conversation