Introducing A New Process Introducing A New Process For Reporting Financial Data For Reporting Financial Data to DPIto DPI

A Revised Format For A Revised Format For The PI-1505 ACThe PI-1505 AC

Effective with the 2000-2001 Effective with the 2000-2001 Annual Report the process was Annual Report the process was revised, updated and made revised, updated and made easier to work with.easier to work with.

Are new accounts being Are new accounts being added?added?

NO!NO!

Are account codes being Are account codes being changed?changed?

NO!NO!

Are we getting a new fund?Are we getting a new fund?

NO!NO!

Why did DPI changeWhy did DPI change the process? the process?

To improve the accuracy and To improve the accuracy and timeliness of reported data.timeliness of reported data.

The primary purpose of the The primary purpose of the Annual Report is to provide Annual Report is to provide data in order to pay aids.data in order to pay aids.

The most important of which is The most important of which is Equalization AidEqualization Aid

In order to properly certify aid In order to properly certify aid on October 15th, DPI on October 15th, DPI must must have all Equalization Aid have all Equalization Aid related financial data in related financial data in well well aheadahead of Oct. 15.of Oct. 15.

Prior to the introduction of the Prior to the introduction of the PI 1505 AC, too often, financial PI 1505 AC, too often, financial data had been reported late, data had been reported late, incomplete or incomplete or containing containing substantial errors!substantial errors!

What changes have been What changes have been made to address these made to address these problems?problems?

The existing PI-1505 has been The existing PI-1505 has been divided into two parts.divided into two parts.

1. 1. Financial DataFinancial Data for the for the October Aid CertificationOctober Aid Certification

2. 2. Non-Financial DataNon-Financial Data for Other Data Purposes,for Other Data Purposes,such as Determining such as Determining Categorical AidsCategorical Aids

Existing PI-1505

(Full Report)

FinancialData

Non-Financial

Data

Existing PI-1505

FinancialDatc

Non-Financial

DataPI-1505AC

The PI-1505 AC reportsThe PI-1505 AC reportsselected data from the full selected data from the full financial report to be used for financial report to be used for Oct. 15 aid certification.Oct. 15 aid certification.

It does not replace the existing It does not replace the existing Annual Report (PI 1505)Annual Report (PI 1505)

Is This A New Report?Is This A New Report?

Not Really! The PI-1505 AC Not Really! The PI-1505 AC deals only with data necessary deals only with data necessary to certify Equalization Aid on to certify Equalization Aid on October 15.October 15.

How short will PI-1505 AC form How short will PI-1505 AC form be?be?

Only Only 4343 accounts. Most accounts. Most districts will use only districts will use only 10 to 1510 to 15 of these accounts.of these accounts.

To look over a To look over a prototypeprototype of the PI-1505 of the PI-1505 AC, click the icon below Test it out by AC, click the icon below Test it out by entering data.entering data.

You can use this to prepare data for the actual PI-You can use this to prepare data for the actual PI-1505 AC internet report. Close it when you’re 1505 AC internet report. Close it when you’re done. You will return to this slide.done. You will return to this slide.

To look over a To look over a prototypeprototype of the PI-1505 of the PI-1505 AC, click the icon below Test it out by AC, click the icon below Test it out by entering data.entering data.

You can use this to prepare data for the actual PI-You can use this to prepare data for the actual PI-1505 AC internet report. Close it when you’re 1505 AC internet report. Close it when you’re done. You will return to this slide.done. You will return to this slide.

Microsoft Excel

Worksheet

How will this help districts in How will this help districts in their reporting?their reporting?

Districts will not need to Districts will not need to struggle with the full report as struggle with the full report as early to insure that the early to insure that the necessary data is reported. necessary data is reported.

Will all the financial data in the Will all the financial data in the existing Annual Report (PI-existing Annual Report (PI-1505) still need to be reported?1505) still need to be reported?

YesYes, but the full financial report , but the full financial report will not be due until October 1. will not be due until October 1.

When will the PI-1505 AC be When will the PI-1505 AC be due?due?

It will be reported via the internet It will be reported via the internet no later than no later than August 30 August 30

Early submission is encouragedEarly submission is encouraged..

How will DPI insure the How will DPI insure the accuracy of data reported on accuracy of data reported on the the PI-1505 ACPI-1505 AC Form? Form?

Districts will compile the Districts will compile the PI-PI-1505 AC1505 AC data in cooperation data in cooperation with their district auditor.with their district auditor.

Must the auditor concur with the Must the auditor concur with the PI-1505 ACPI-1505 AC??

Yes, auditors will be required to Yes, auditors will be required to submit the (PI 1506 AC) Audit submit the (PI 1506 AC) Audit Statement no later than Statement no later than September 13September 13. The PI-1506 AC . The PI-1506 AC must concur with the PI-1505 AC.must concur with the PI-1505 AC.

What data from the existing PI-What data from the existing PI-1505 is considered 1505 is considered Non-Non-Financial?Financial?

The tables found at the back of The tables found at the back of the prior year’s PI-1505 report.the prior year’s PI-1505 report.

The Non-Financial SideThe Non-Financial Side

What does DPI need?What does DPI need?Why does DPI need it?Why does DPI need it?

When does DPI need it?When does DPI need it?How does DPI get it?How does DPI get it?

DPI collects a number of pieces of DPI collects a number of pieces of non-financial data from districts that non-financial data from districts that directly impact the financial status of directly impact the financial status of the district.the district.

These pieces of data include:These pieces of data include:

The “Driver’s Education tableThe “Driver’s Education tableThe “Pupil Transportation tableThe “Pupil Transportation tableThe “Pupil Count” tableThe “Pupil Count” tableThe “School Calendar” tableThe “School Calendar” tableThe “Census” tableThe “Census” tableThe CYD/FYD “Debt” tablesThe CYD/FYD “Debt” tables

Is DPI Changing the Non-Is DPI Changing the Non-financial Data that is collected financial Data that is collected

annually?annually?

NO!!NO!!

We are still collecting the very same We are still collecting the very same data from districtsdata from districts..

How does DPI collect this data?How does DPI collect this data?

The Non-Financial Data is reported on The Non-Financial Data is reported on the Full Annual Report (PI-1505)the Full Annual Report (PI-1505)

In The Summer of 2002 DPI In The Summer of 2002 DPI Began to Introduce Non-Began to Introduce Non-Financial Data Reports on the Financial Data Reports on the Internet. You Can Do The Internet. You Can Do The Transportation Report Via the Transportation Report Via the Internet.Internet.

How does DPI plan to collect the rest How does DPI plan to collect the rest of the non-financial data this year?of the non-financial data this year?

The rest will be collected with the full The rest will be collected with the full Annual Report due on October 1.Annual Report due on October 1.

DPI plans to collect this Non-Financial data DPI plans to collect this Non-Financial data via the Internet in the future.via the Internet in the future.

Why are we changing the way the Why are we changing the way the “non-financials” are reported?“non-financials” are reported?

Most of this information is collected in the district Most of this information is collected in the district long before the full Annual Report financial report long before the full Annual Report financial report is due (October 1).is due (October 1).

Rather than holding the information in the district Rather than holding the information in the district business office until the completion of the full business office until the completion of the full Annual Report, you will be able to send this off, Annual Report, you will be able to send this off, via the internet to DPI and be done with it.via the internet to DPI and be done with it.

Why does DPI even need this information?Why does DPI even need this information?

*Debt Service is part of the 2/3 funding pot.*Debt Service is part of the 2/3 funding pot.

*Some categorical aids cannot be calculated *Some categorical aids cannot be calculated without the information from these tables without the information from these tables (transportation, driver’s education, library, (transportation, driver’s education, library, tuition and some federal programs depend tuition and some federal programs depend on pupil count.)on pupil count.)

*The school calendar verifies school days.*The school calendar verifies school days.

Will a full district audit still be Will a full district audit still be requiredrequired??

Yes! It will be due Yes! It will be due NovemberNovember 1 1 and there are no changes for and there are no changes for the format used in recent years.the format used in recent years.

In addition to the report tables, In addition to the report tables, what will DPI provide to help what will DPI provide to help districts with this process?districts with this process?

An Excel worksheet will be An Excel worksheet will be available on the internet to available on the internet to assist districts in preparing the assist districts in preparing the PI-1505 AC Short FormPI-1505 AC Short Form

On or about July 15 districts On or about July 15 districts received a document called, received a document called, “Annual Report Data Entries” “Annual Report Data Entries” sheet. This information reflects sheet. This information reflects school district data on file with school district data on file with the department.the department.

What if a district does not agree What if a district does not agree with data provided on the Data with data provided on the Data Entries Worksheet?Entries Worksheet?

The Data Entries Sheet The Data Entries Sheet Identifies district data that is Identifies district data that is currently on file with DPI. It currently on file with DPI. It should match what is reported should match what is reported on PI 1505 ACon PI 1505 AC

What if a district does not agree What if a district does not agree with data provided on the Data with data provided on the Data Entries Worksheet?Entries Worksheet?

Contact DPI immediately. Contact DPI immediately. There must be agreement There must be agreement before the PI-1505 AC will be before the PI-1505 AC will be accepted.accepted.

What else will DPI do to help?What else will DPI do to help?

Upon submission of the PI-Upon submission of the PI-1505 AC, DPI will do a “Quick 1505 AC, DPI will do a “Quick Audit” and notify the district of Audit” and notify the district of any exceptions. any exceptions.

What else will DPI do to help?What else will DPI do to help?

On September 23, after On September 23, after auditors have filed the audit auditors have filed the audit statement (PI-1506 AC) DPI statement (PI-1506 AC) DPI will provide a “preliminary” aid will provide a “preliminary” aid estimate.estimate.

This estimate of aid eligibility This estimate of aid eligibility is to be used to correct data is to be used to correct data submitted to DPI to submitted to DPI to calculate the district revenue calculate the district revenue cap and tax levies. cap and tax levies.

How will any exceptions be How will any exceptions be resolved?resolved?

District data can be changed by District data can be changed by the auditor on the PI 1506 AC the auditor on the PI 1506 AC between between Sept 23Sept 23 and and Oct 1.Oct 1.

Time-Line SummaryTime-Line Summary

July 15July 15 - Districts receive “Annual - Districts receive “Annual Report Data Entries” sheet.Report Data Entries” sheet.Aug 1- Aug 30Aug 1- Aug 30 District & Auditor District & Auditor Prepare PI-1505 ACPrepare PI-1505 ACAugust 30August 30 - PI-1505 AC Short - PI-1505 AC Short Form due (Internet)Form due (Internet)

Time-Line SummaryTime-Line Summary

September 13September 13 - PI-1506 AC, - PI-1506 AC, the Audit Statement duethe Audit Statement dueSeptember 23September 23 - Preliminary Aid - Preliminary Aid EstimateEstimateOctober 1October 1 - Last day to submit - Last day to submit Non-Financial dataNon-Financial data

Time-Line SummaryTime-Line Summary

October 1October 1 - Last day to amend - Last day to amend PI-1506 AC PI-1506 AC October 1October 1 - PI-1505 Full - PI-1505 Full Financial (PI-1505) dueFinancial (PI-1505) due

Time-Line SummaryTime-Line Summary

October 15October 15 - DPI will certify - DPI will certify General Aid for 2002-2003General Aid for 2002-2003November 1November 1 - Audit Report due - Audit Report due

If there are any questionsIf there are any questions,, please contact one of the please contact one of the following:following:

Brad Adams, 267-3752Brad Adams, 267-3752Jim McIntosh, 266-3464Jim McIntosh, 266-3464