Tricks, Tips & Trade Secrets (!)to Successfully Navigating theDPI SAFR PI-1505 Annual Report

Tuesday, April 28, 2015Session #9

9:15 - 10:00 AM

Carey BradleyKaren Kucharz RobbeSchool Financial Services, DPI

#1 Recommendation

Start preparing for the DPI Annual Report at least 2-3 weeks BEFORE

the due date!

Don’t procrastinate!

Start early…….allot PLENTY of uninterrupted time especially if

you are new to the process.

Presentation Assumptions*

Cash has been reconciled to the bank statements. (Do MONTHLY. You’ll run into trouble, if not.)

All transactions have been posted to the ledger.• Final Check Run & Payables, etc.• Receivables & EOY Adjusting Entries (Name the batches

so you can re-find them easily.) Debits equal Credits. Your audit has been completed. (Schedule early enough.)

District Ledger Reflects All the Financial Activity for the Fiscal Year

*Assumes you have done all the year-end activities to ensure all the financial activity is accurately on the ledger: gathered all outstanding invoices/expenses from staff, liquidated

purchase orders, completed final grant claims, etc. Not focus of this presentation.

Before You Start the Extraction Processfrom Skyward SAFR……

KNOW YOUR DATA! Run Skyward Reports to get grand total

amounts to be used in comparing SAFR vs. Skyward AFTER you upload:

1.) Total Revenues and Expenditures for All Funds2.) All Balance Sheet Beginning and Ending Balances

(Have a copy of the district’s prior yearSAFR Annual Report for reference.)

Annual Report Process Overview

1. Finalize Ledger in SkywardFrom Accounting Perspective

Reconcile CashPost All Transactions to

LedgerDebits Equal Credits

3. Get Rejected Account Listing

4. Correct Rejected Accounts on

Skyward Ledger

2. Load Skyward Software Updates to Your Financial

Server

5. Get FINALExtract File

from Skyward

6. Upload File to SAFR

7. Make Sure SAFR Totals Match your

Skyward Totals BEFORE you Start Working in SAFR

8. Start to Address the “Errors” in the

SAFR Portal

Could take you some time to

just track down this software

update and get it installed on the Skyward

server.

XX

Should be 2014-15 !

Account Exceptions/Rejected Accounts

If the account in this list has an amount, it will NOT make it to SAFR. You need to address/correct these.

http://sfs.dpi.wi.gov/sfs_wufar

Resource:

Use online WUFAR matrices to find

“allowable” accounts.

Let’s look at a few:

Rejected Accounts & Explanations

If you need to, go back to Skyward ledger and journal entry everything to the correct account.Start extraction process again from beginning.

XXShould be 2014-15 !

Yes!

Reminder:

Do not make the changes here in the upload file. Your ledger will still be wrong.

Go back into the ledger, journal entry to correct account, and re-

extract.

XXShould be 2014-15 !

XX

XX

Should be 2014-15 !

Should be 2014-15 !

Be sure to note where this download file is stored on your local drive. You’ll need to locate this file for the SAFR upload.

XXShould be 2014-15 !

XXShould be 2014-15 !

SAFR(School Finance Reporting Portal)

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

PI-1500 controls who has access to what reports -

managed by 2 individuals in district. Call DPI if issues cannot

be resolved locally.

The 4 Most Problematic SAFR Edits

Rejected AccountsDPI Certified Amounts “On Record”Receivables, Grants, Aids Register,

and Related Revenues08B Long-Term Obligations

(Debt Payments & Debt Tables)

Work on errors from top/down, left/right.

Correct Beginning Balances before DPI Amount Errors

2012-13 Annual Report 2013-14 Annual Report

It makes sense that the ending balances from one year become the beginning balances for the next year, so………you’ll need to ensure ALL beginning balances in SAFR for ALL Balance tables match the ending

balances from the previous Annual Report. (including the 08 balances)

Balance Sheet Checking

DPI Amount Errors

Certified Amount Errors, Tax Levy Errors, and Amounts “On Record” are

all taken from either:

1.) information you have already reported to us via another report

2.) information we have provided via Aids Register, June and Delayed July

Aid Payment Journal Entries, etc.

Expected levy amounts are taken from the district-submitted

Tax Levy Report PI-401.

cents vs no cents!!!

Tax Levies

DPI June AND Delayed July Payment Adjusting Entries

http://sfs.dpi.wi.gov/sfs_steqaidexp

So, if you have a bookkeeper that, as a part of their job, automatically puts cash receipts on the ledger when they find a transmitted payment from DPI on the bank account, you might need to reverse what they did before you put these entries on.

DPI Adjusting Entries Jun/Jul Payment

DPI Amount Errorsand the Aids Register

Grant reimbursement is received in 2013-14, but the expenses are from 2012-13 (PY).

Grant Aid Amounts & Receivables

If the cash from a grant reimbursement claim won’t be received by the district until AFTER the start of the new

fiscal year, a grant receivable for the just-completed fiscal year needs to be booked in the ledger.

In accrual accounting, revenue is booked in the fiscal year in which it is earned. The grant expenditure occurred in the just-ended fiscal year, so the district “earned” the revenue in the just-ended fiscal year; however, since the actual cash will not

come until the “new” fiscal year, a receivable is used to account for the expected cash.

Grant ReceivablesTitle I-A Basic and Title I-A State Program Improvement 2012-13 reimbursement claims are completed and sent to DPI in a timeframe whereby the cash reimbursement

will not be received by the district until after June 30.

$86,972.41 $11,416.41

TOTAL for Source 751 = $98,388.82

Grant Receivables

13-14 Entry When the Cash Comes:Debit 10B-711000-001 Cash $98,388.82 (increase) Credit 10B-715000-001 Due from Oth Gov’nts $98,388.82 (decrease)

12-13 Receivable Entry:Debit 10B-715000-002 Due from Oth Gov’nts $98,388.82 (increase) Credit 10R-000000-751-141 ESEA Title 1 $86,972.41 (increase)

Credit 10R-000000-751-145 ESEA Title 1 $11,416.41 (increase)

So, the entry for the cash when it comes in 2013-14 does not affect revenues because you already

accounted for the revenue in the 12-13 ledger, the same year as the corresponding expenditures!

2012-13 Expected Value for Source 751

$272,303.69 – 98,507.35 + 98,388.82 = $272,185.16 (expected Source 751)

All 751s

12-13 Aids Register

Compare what is in your debt schedules with what you have

booked in your Annual.

Might need to update the debt schedule.

08 Long Term Obligations

08 Long Term Obligations

E-mail: dpifin@dpi.wi.govPhone: 608/267-9114Website: http://sfs.dpi.wi.gov/

Robert Soldner, Director ………………… 266-6968Debra Towns, Asst. Director …………… 267-9209Bruce Anderson, Consultant …………… 267-9707Carey Bradley, Consultant ……………… 267-3752Dan Bush, Consultant ……………………… 267-9212Karen Kucharz, Consultant ……………… 266-3464Victoria Chung, Accountant ……………. 267-9205Gene Fornecker, Auditor …………………. 267-7882Brian Kahl, Auditor …………………………. 266-3862Derek Sliter, Auditor ……….………………. 267-9218

(all Area Code 608)Call With Questions