WUFAR (WISCONSIN UNIFORM FINANCIAL ACCOUNTING REQUIREMENTS)

WUFARWUFAR(WISCONSIN (WISCONSIN

UNIFORM UNIFORM FINANCIAL FINANCIAL

ACCOUNTING ACCOUNTING REQUIREMENTS)REQUIREMENTS)

Wisconsin Wisconsin Department of Department of

Public InstructionPublic Instruction

WUFAR 101 WUFAR 101 WWisconsin isconsin UUniform Financial niform Financial

AAccounting ccounting RRequirementsequirements

It is a multi-dimensional reporting system that can also be used as an accounting system

Not required accounting, but required reporting

Always used in conjunction with the Budget and Annual Reports

Download off website http://dpi.wi.gov/sfs/wufar.html

http://dpi.wi.gov/sfs/wufar.html


WUFAR Sequence of WUFAR Sequence of DimensionsDimensions

Fund

Location Source of revenue/Object of

expense Function Program or Project

WUFAR Account WUFAR Account FormatFormat

Fund Location Object/ Function Program/

Source Project

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XXX

Most of the commercial software used in districts will display account codes in this order. In DPI reporting you will see the function number preceding the object or source. DPI reporting does not require location detail.

Wisconsin Uniform Financial Wisconsin Uniform Financial Accounting Requirements - Accounting Requirements - cont.cont.

Code numbers are arranged in hierarchical order. A zero (0) in any position of a code represents a total of more detailed account codes.

The following is an example of a hierarchy in the source dimension:Fund Function Description 10R 000000 210 Taxes10R 000000 240 Payment for Services10R 000000 260 Non-Capital Sales10R 000000 270 School Activity Income10R 000000 280 Earnings on Invest10R 000000 290 Other Local Sources10R 000000 200 Total Local Revenue

Wisconsin Uniform Financial Wisconsin Uniform Financial Accounting Requirements – Accounting Requirements – contcont

Code numbers are arranged in hierarchical order. A zero (0) in any position of a code represents a total of more detailed account codes.

The following is an example of a hierarchy in the expenditure dimension:

Fund Function Description 10E 120000 100 Salaries10E 120000 200 Employee Benefits10E 120000 300 Purchased Services10E 120000 400 Non-Capital Objects10E 120000 500 Capital Objects10E 120000 900 Other Objects10E 120000 000 Total Regular Curriculum

FUND:FUND: A fiscal and accounting entity with A fiscal and accounting entity with

a self-balancing set of accounts…a self-balancing set of accounts…which are segregated for the which are segregated for the purpose of carrying on specific purpose of carrying on specific activities in accordance with activities in accordance with special regulations, restrictions, or special regulations, restrictions, or limitationslimitations

FUNDFUND STAND ALONE ACCOUNTING ENTITY

BALANCE SHEET, REVENUES AND EXPENDITURES FOR EACH FUND

WITHIN FUND, “DEBITS” MUST EQUAL “CREDITS” (the fund must be self-balancing)

CHANGE IN FUND BALANCE EQUALS DIFFERENCE BETWEEN FUND REVENUES AND EXPENDITURES

FUNDFUND

ENDING FUND BALANCE MINUS BEGINNING FUND BALANCE = REVENUES MINUS EXPENDITURES

MORE REVENUES THAN EXPENDITURES MEANS MORE FUND BALANCE AT END OF YEAR

WWisconsin isconsin UUniform Financial niform Financial AAccounting ccounting RRequirements equirements

((cont.) Funds

10 General Fund

GENERAL FUNDGENERAL FUND

FUND 10FUND 10

FINANCIAL TRANSACTIONS FINANCIAL TRANSACTIONS RELATING TO CURRENT RELATING TO CURRENT OPERATIONS NOT REQUIRED OPERATIONS NOT REQUIRED TO BE ACCOUNTED FOR IN TO BE ACCOUNTED FOR IN OTHER FUNDSOTHER FUNDS


((cont.) Funds

10 General Fund 20 Special Projects Fund

21 – Special Revenue Trust Fund 23 - TEACH 27 - Special Education Fund 29 – Other Special Projects Fund

SPECIAL PROJECTS SPECIAL PROJECTS FUNDSFUNDS

FUND 21GIFTS AND DONATIONS RECEIVED FROM PRIVATE PARTIES THAT CAN BE USED FOR DISTRICT OPERATIONS

FUND 23ANY REMAINING TEACH FUND BALANCE BEING USED TO MAKE PAYMENTS ON A TEACH LOAN

FUND 27SPECIAL EDUCATION AND RELATED SERVICES FUNDED WHOLLY OR IN PART WITH STATE OR FEDERAL SPECIAL EDUCATION AID

FUND 29SPECIAL REVENUE K-12 INSTRUCTIONAL PROGRAMS NOT REQUIRED TO BE REPORTED IN OTHER SPECIAL REVENUE FUNDS


((cont.) Funds

10 General Fund 20 Special Projects Fund

21 – Special Revenue Trust Fund 23 - TEACH 27 - Special Education Fund 29 – Other Special Projects Fund

30 Debt Service Fund 38 - Non-Referendum Debt Service 39 – Referendum Approved Debt Service

DEBT SERVICE FUNDSDEBT SERVICE FUNDS

FUND 38Repayment of debt issues that were either; not authorized by school board resolution before August 12, 1993, or incurred without referendum approval after that date.

FUND 39Repayment of debt issues that were either; authorized by school board resolution before August 12, 1993, or approved by referendum.


((cont.) FundsFunds

40 Capital Projects Fund 41 - Capital Expansion 48 – TIF Capital Improvement Levy 49 – Other Capital Project

CAPITAL PROJECTS FUNDSCAPITAL PROJECTS FUNDS

FUNDS 41, 48 AND 49FUNDS 41, 48 AND 49

RECORDING EXPENDITURES FINANCED RECORDING EXPENDITURES FINANCED THROUGH BONDS, PROMISSORY THROUGH BONDS, PROMISSORY NOTES, STATE TRUST FUND LOANS, NOTES, STATE TRUST FUND LOANS, LAND CONTRACTS OR TAX LEVY LAND CONTRACTS OR TAX LEVY (EXPANSION FUND OR TIF(EXPANSION FUND OR TIF))


((cont.) FundsFunds


50 Food Service Fund

FOOD SERVICE FUNDSFOOD SERVICE FUNDS

FUND 50

ACCOUNT FOR THE DISTRICT’S FOOD SERVICE ACTIVITIES

ACTIVITIES RELATING TO PUPIL AND ELDERLY FOOD SERVICE ACTIVITIES


((cont.) FundsFunds


50 Food Service Fund 60 Agency Fund

AGENCY FUNDAGENCY FUND

FUND 60

ACCOUNT FOR ASSETS HELD BY THE DISTRICT FOR PUPIL ORGANIZATIONS.

ONLY BALANCE SHEET ACCOUNTS FOR THIS FUND ARE REPORTED IN THE BUDGET AND ANNUAL REPORTS.


((cont.) FundsFunds


50 Food Service Fund 60 Agency Fund 70 Trust Funds

72 - Private Benefit Trust Fund 73 - Employee Benefit Trust Fund 76 - Investment Trust Fund

TRUST FUNDSTRUST FUNDSASSETS HELD BY THE DISTRICT IN A TRUSTEE CAPACITY FOR INDIVIDUALS, PRIVATE ORGANIZATIONS, OTHER GOVERNMENTS AND/OR OTHER FUNDSFUND 72ACCOUNTS FOR GIFTS AND DONATIONS SPECIFIED FOR THE BENEFIT OF PRIVATE INDIVIDUALS AND ORGANIZATIONS NOT UNDER THE CONTROL OF THE SCHOOL BOARD

FUND 73ACCOUNTS FOR RESOURCES HELD IN TRUST FOR FORMALLY ESTABLISHED DEFINED BENEFIT PENSION PLANS, DEFINED CONTRIBUTION PLANS OR EMPLOYEE BENEFIT PLANS


((cont.) FundsFunds

80 Community Service Fund80 Community Service Fund

COMMUNITY SERVICE COMMUNITY SERVICE FUNDSFUNDS

FUND 80ACTIVITIES WHERE THE PRIMARY FUNCTION IS TO SERVE THE COMMUNITY AND ARE OUTSIDE THE REGULAR AND EXTRACURRICULAR PROGRAMS FOR STUDENTS


((cont.) FundsFunds

80 Community Service Fund80 Community Service Fund 90 Package and Cooperative 90 Package and Cooperative

Program FundProgram Fund 91 – Packaged Services91 – Packaged Services 93 – TEACH Program Consortium93 – TEACH Program Consortium 99 – Other Package and Cooperative 99 – Other Package and Cooperative

ProgramProgram

PACKAGE AND COOPERATIVE PROGRAM FUNDS

MULTIDISTRICT PROJECTS FOR WHICH IT IS NECESSARY TO KEEP A SEPARATE RECORD OF ACTIVITY SO THAT PARTICIPANT DISTRICTS’ SHARE CAN BE DETERMINED

FUND 91EXPENDITURES MADE BY A HOST DISTRICT FOR PROGRAMS MADE AVAILABLE TO OTHER DISTRICTS THROUGH A CESA

FUND 93CONSORTIA PROGRAMS FUNDED WITH LOANS FROM THE TEACH WISCONSIN BOARD

FUND 99ALL OTHER TYPES OF COOPERATIVE INSTRUCTIONAL FUNDS- NEVER REPORT SPECIAL EDUCATION



Source Project

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XXX


SOURCE & OBJECT SOURCE & OBJECT

The Source dimension is used to classify revenues and other fund sources by their origins.

The Object dimension is used to identify the service or commodity used in accomplishing a function.

REVENUE SOURCESREVENUE SOURCES

REVENUE CODING: 2 QUESTIONS

“WHO’S PAYING THE MONEY?”

“WHAT IS IT FOR?”

REVENUE CODINGREVENUE CODINGSOURCE CODESSOURCE CODES

LOCAL (SOURCE 200) A WI DISTRICT (SOURCE 300)

DISTRICT OUTSIDE WI (SOURCE 400) INTERMEDIATE EDUCATIONAL AGENCY (SOURCE

500) STATE AGENCY (SOURCE 600) FEDERAL AGENCY (SOURCE 700) OTHER FINANCING (SOURCE 800) OTHER REVENUES (SOURCE 900)

EXPENDITURE OBJECTSEXPENDITURE OBJECTS

NORMAL RULE:

EXPENDITURES ARE CHARGED TO THE FISCAL PERIOD WHEN THE SERVICES ARE PROVIDED, SUPPLIES ARE USED OR EQUIPMENT IS ACQUIRED.

OBJECT CODING OBJECT CODING

MOST-USED OBJECT CODES– Salaries (100 Objects)– Fringe Benefits (200 Objects)– Purchased Services (300 Objects)– Non-Capital Objects (400 Objects)– Capital Objects (500 Objects)– Debt Retirement (600 Objects)



Source Project

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XXX


FUNCTION FUNCTION CLASSIFICATIONCLASSIFICATION

FUNCTION DESCRIBES THE PURPOSE FOR WHICH A SERVICE OR MATERIAL OBJECT IS ACQUIRED. Reporting to DPI is at the 2 or 3-digit function level, but local districts can use more detail for tracking expenditures.

FUNCTIONAL CODINGFUNCTIONAL CODING

THE QUESTION TO ANSWER:Which defined purpose caused the revenue or expense to be

incurred???

Defined Purposes: (AKA: FUNCTIONS)

– Instructional (100000) limited to activities

between students and teaching staff– Support Services (200000) administrative,

technical & logistical support to both instructional and non-instructional programs

– Community Services (300000)– Non-Program Trans. (400000)purchased

instructional services,, interfund transfers, open enrollment tuition are included here

– District-Wide (500000)used only with revenue sources

Chart ofAccounts

Fund 10

Fund 20

Fund 30

Fund 40

Fund 50

Other Funds

Addendas

DebtServiceAmort.

Schedules

08 Debt table.

AnnualReport

toDPI

SpecialEd.

ClaimFund 27

ORGANIZATION OVERVIEW

ACCOUNTING ACCOUNTING TRANSACTIONSTRANSACTIONS




PROPERTY TAX LEVIESPROPERTY TAX LEVIES

LEVIES INTO FUND 10, 38, 39, LEVIES INTO FUND 10, 38, 39, 41, 8041, 80

THE TOTAL LEVY IS REVENUETHE TOTAL LEVY IS REVENUE SOURCE 211 – CURRENT LEVYSOURCE 211 – CURRENT LEVY SOURCE 212 – CHARGEBACK LEVY SOURCE 212 – CHARGEBACK LEVY

(FUND 10 ONLY)(FUND 10 ONLY) TAXES RECEIVABLE AT JUNE 30TAXES RECEIVABLE AT JUNE 30

PROPERTY TAX REFUNDSPROPERTY TAX REFUNDS USUALLY PAYMENT TO MUNICIPALITY USUALLY PAYMENT TO MUNICIPALITY

FOR UNCOLLECTED PERSONAL FOR UNCOLLECTED PERSONAL PROPERTY TAXESPROPERTY TAXES FUND 10 FUNCTION 490 000 OBJECT 972FUND 10 FUNCTION 490 000 OBJECT 972(10 E 490 000 972)(10 E 490 000 972)

COLLECTION OF REFUNDCOLLECTION OF REFUND FUND 10 SOURCE 972 (10 R 000 000 972)FUND 10 SOURCE 972 (10 R 000 000 972)

SOURCE 212 LEVY – NET PAYMENTSSOURCE 212 LEVY – NET PAYMENTS OPTIONALOPTIONAL NOT NEGATIVENOT NEGATIVE

STATE AND FEDERAL AIDSTATE AND FEDERAL AID ENTITLEMENTSENTITLEMENTS

MOST BIG $ PROGRAMSMOST BIG $ PROGRAMS GENERAL AID, SPECIAL GENERAL AID, SPECIAL

EDUCATION,TRANSPORTATION,SAGEEDUCATION,TRANSPORTATION,SAGE REVENUE WHEN $ APPROPRIATEDREVENUE WHEN $ APPROPRIATED

REIMBURSABLE GRANTSREIMBURSABLE GRANTS ““GRANT” PROGRAMSGRANT” PROGRAMS

CLAIMED ON PI 1086, SOURCE 630/730CLAIMED ON PI 1086, SOURCE 630/730 REVENUE WHEN REIMBURSABLE REVENUE WHEN REIMBURSABLE

EXPENDITURE OCCURSEXPENDITURE OCCURS

CASH FLOW BORROWINGCASH FLOW BORROWING

GENERAL FUND TRANSACTIONGENERAL FUND TRANSACTION BALANCE SHEET TRANSACTION FOR BALANCE SHEET TRANSACTION FOR

PRINCIPALPRINCIPAL INTEREST EXPENSE – ACCRUAL AT JUNE INTEREST EXPENSE – ACCRUAL AT JUNE

3030 INTEREST REVENUEINTEREST REVENUE

IN FUND PRODUCING INCOMEIN FUND PRODUCING INCOME INTEREST RECEIVABLE AT JUNE 30 INTEREST RECEIVABLE AT JUNE 30

CASH FLOW BORROWING CASH FLOW BORROWING (cont’d)(cont’d)

Accounting transactions:Accounting transactions: Dr. CashDr. Cash $1,000,000$1,000,000 Cr. Temporary Notes Payable $1,000,000Cr. Temporary Notes Payable $1,000,000

(Acct. 10B 811 100)(Acct. 10B 811 100)

Dr. Interest Expense $ 40,000Dr. Interest Expense $ 40,000 (10E 682 281 000)(10E 682 281 000)

Cr. Interest Payable $ 40,000Cr. Interest Payable $ 40,000 (10B 811 700)(10B 811 700)

BOND ANTICIPATION BOND ANTICIPATION NOTESNOTES

OFTEN TAKEN OUT PRIOR TO OFTEN TAKEN OUT PRIOR TO RECEIVING PROCEEDS OF RECEIVING PROCEEDS OF “PERMANENT” DEBT ISSUANCE“PERMANENT” DEBT ISSUANCE

WHEN RECEIVED CREDIT WHEN RECEIVED CREDIT “LOANS” SOURCE 873 – CAPITAL “LOANS” SOURCE 873 – CAPITAL PROJECTS FUNDPROJECTS FUND

INTEREST PAYMENTS ON BANS – INTEREST PAYMENTS ON BANS – DEBT SERVICE FUND – TRANSFER DEBT SERVICE FUND – TRANSFER IN OR LEVY IN OR LEVY

CAPITAL LEASECAPITAL LEASE

““BORROWING” FROM A VENDOR BORROWING” FROM A VENDOR TO ACQUIRE ITEMTO ACQUIRE ITEM

JOURNAL ENTRY TO RECORD JOURNAL ENTRY TO RECORD FINANCING TRANSACTIONFINANCING TRANSACTION

PRINCIPAL AND INTEREST PRINCIPAL AND INTEREST PAYMENT TRANSACTIONS AS PAYMENT TRANSACTIONS AS PAYMENTS ARE MADEPAYMENTS ARE MADE

PAYROLL ITEMSPAYROLL ITEMS

ACCRUAL AT JUNE 30 FOR EMPLOYEE ACCRUAL AT JUNE 30 FOR EMPLOYEE SERVICES PROVIDEDSERVICES PROVIDED SALARIESSALARIES RELATED BENEFITSRELATED BENEFITS INCLUDES “SUMMER PAYROLLS”INCLUDES “SUMMER PAYROLLS”

NO ACCRUAL FOR POST-EMPLOYMENT NO ACCRUAL FOR POST-EMPLOYMENT BENEFITSBENEFITS

SPECIFIC RULES FOR UNSETTLED SPECIFIC RULES FOR UNSETTLED CONTRACTSCONTRACTS

UNSETTLED EMPLOYEE UNSETTLED EMPLOYEE CONTRACTSCONTRACTS

If mediation/arbitration when filing If mediation/arbitration when filing report—lowest offer is recordedreport—lowest offer is recorded

If settlement occurs after filing report If settlement occurs after filing report but before October 1, amend report but before October 1, amend report to show increased costto show increased cost

Settlement occurs after October 1—Settlement occurs after October 1—additional cost is reported in year additional cost is reported in year settlement occurssettlement occurs

WUFAR (WISCONSIN UNIFORM FINANCIAL ACCOUNTING REQUIREMENTS)

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