07/13/2015 – Financial Report

May 2015 Financial Report

07/13/2015 – Work/Business
eboard link icon  Agenda Item – Approval of Monthly Financial Report

Finance Update

Relative to the item of an assignment of part of the Fund Balance for a Pre-Tax Retirement Option (as approved by the BOE in the FY2016 Budget), the Superintendent’s Office, HR, Finance and Legal Af-fairs have started internal discussions based upon the Superintendent’s directive to structure options for Superintendent review and ultimately the Board’s consideration and approval. The desired goal is to provide such option to the workforce by January 1, 2016. This availability date, is however, dependent upon numerous structural/ procurement issues within the plan that still have to be addressed.

After Board approval of the FY2016 budget, Finance loaded the Budget in TERMS for all schools and divisions to access. Position allotments for each school were made based upon estimated enrollments which will be adjusted to actual enrollments at the beginning of the school year. The BOE approved the millage rate, also on June 17, 2015, and the Finance Division will deliver such approval to the DeKalb County Commission prior to their vote on all County millage rates.

Finance/Audit will hold (the week of July 13, 2015) a Bookkeeper “Boot Camp” which will review specifically Timekeeping/ Payroll/Accounts Payable documentation aimed at maintaining the integrity of our processes. All Schools have had the FY2015 fiscal year closed in Finance’s new School Books soft-ware.

Requisitions can now be entered by the schools for the purchase of supplies, and school based P-Cards are scheduled to be turned on by Finance/Purchasing on July 16, 2015.