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Financial Checklist for the New School Year

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Posted in:  
August 1, 2016

As we begin the new financial year, it is important to remember a few critical posting requirements for financial transparency and policy items. These are required by the SDE and statute to provide the public with a window into the finances of districts.

  1. Board Agendas must be posted at the place of meeting and online.
  2. Board Minutes should be posted online
  3. Temporary and annual budgets must be posted on line.
  4. Monthly budgets must be posted on line. We will have a format that we are submitting to the SDE for compliance with this policy that will be placed behind the members-only section of our website.
  5. Credit Card statements must be posted on line. The SDE has been saying this since last year, and it is very important that you add these. Ben Parker has a convenient way to do this, so contact him if you need assistance. It is strongly recommended that you don’t just scan these with darkened account numbers; it is possible to restore the account numbers.
  6. Bullying policies must be posted on line
  7. Board policies should be posted on line
  8. Student handbooks should be posted on line
  9. Child abuse hotline numbers should be posted on line and on the superintendent's office window or door.

There are also a few other things we highly recommend that you check prior to getting into the swing of the new school year:

  1. Make sure your ADA, ADM and WADM all match what is reported on your initial allocation sheet: A: Check your final Statistical Report numbers; B: The ADA is extremely important due to the changes in the calculation of the Motor Vehicle Tax. Our research into this issue will be sent to you in the very near future; C: Remember that ADA is used in motor vehicle, gross production and county 4-mill calculations. If you want to know your percentage against the state and your county, we will be sending that out to you next week based on the FY16 numbers.
  2. Check your chargeables against what is on the initial allocation sheet, as the formula that was used for your initial allocation was the first 11 months of FY 16 with June of FY15 added in to get the twelve months. This is extremely important because we saw a spike statewide in the county 4-mill.
  3. Check to make sure your clerks, treasurers, activity fund clerks and you are bonded correctly. Make sure that your clerks and treasurers have received the appropriate training.
  4. Check your board members' points, and make sure they are registered with the SDE.
  5. Check your bus drivers to determine if they have received their training requirements, have received their physicals, and if new, have had their drug testing completed.

Hopefully this is helpful for you. We know this isn’t a complete list, but it should help you prioritize. If you need anything, please don’t hesitate to contact me.

About the Author

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Andy Evans

Director, Finance

Andy serves as the Director of Finance for the 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.

Andy is a graduate of Southwestern Oklahoma State University with a Bachelor’s of Science in Natural Sciences and a Master’s in Education Administration. Andy has served as superintendent at Mountain View-Gotebo and the Prague school districts.

Want to learn some fun facts about Andy? Click here!

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