budget basics boot camp basic training
DESCRIPTION
Butte County Office of Education. Budget Basics Boot Camp Basic Training. Agenda. Basic Training -Basics of SACS -Break -Budget. Basics of SACS. Topics -What is SACS? -SACS Org Keys and Cost Centers -SACS Resource Codes -Fiscal Year/Project Year -SACS Object Codes -Using SACS. - PowerPoint PPT PresentationTRANSCRIPT
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BUDGET BASICS BOOT CAMPBASIC TRAINING
Butte County Office of Education
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AgendaBasic Training
-Basics of SACS-Break-Budget
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Basics of SACSTopics
-What is SACS?-SACS Org Keys and Cost Centers -SACS Resource Codes-Fiscal Year/Project Year-SACS Object Codes-Using SACS
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WHAT IS SACS?Basics of SACS
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What is SACS?SACS (Standardized Account Code
Structure) is a series of account codes used to easily:
• classify revenues and expenses•keep accounting in regulatory
compliance•facilitate financial reporting
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SACS ORG KEYS AND COST CENTERSBasics of SACS
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What is an Org Key, basically?-An Org Key is an account number used to pay
for goods and services and accept income
-Each program has it’s own set of Org Keys
-There are different Org Keys used for different type of revenues and expenses
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What is an Org Key, specifically?
-An Org Key is a shortcut to a specific combination of SACS
codes
-This SACS code combination is like the DNA of the Org Key, it can
and cannot do specific things because of it’s “DNA”
-Like DNA, every Org Key is unique
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What are the SACS codes that makeup the DNA of each Org Key?
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What is an Org Key, specifically?Each Org Key contains a combination of these SACS
Codes making up it’s “DNA”:• Fund•Resource•Project Year•Goal •Function•School•Manager
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Types of Org KeysDue to the need for different specific SACS code combinations, BCOE has developed four main different types of Org Keys.
They are:1.“Regular” Org Keys
2.“OGA” Org Keys3.“Admin” Org Keys4.“M&O” Org Keys
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“Regular” Org KeysA “Regular” Org Key is used for the majority of program expenses, like:
•Books•Salaries and Benefits
•Services•Independent Contractors
•Equipment
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“OGA” Org Keys“OGA” stands for “Other General
Administration”. An OGA Org Key is only ever used for two things:
1.Indirect costs
2. Revenues
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“Admin” Org Keys“Admin” stands for “Administration”. An
Admin Org Key is used for:
• Administration expenses as defined by your specific program
•Most common example is a school budget with “Site” expenses and “Admin” expenses
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“M&O” Org Keys“M&O” stands for “Maintenance and
Operations”. An M&O Org Key is used for:
• Maintenance expenses
•“CU” or Cost Unit costs for pooled maintenance and operations expenses
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What is Cost Center?A Cost Center is:
• A group of related Org Keys with the same Resource Code
•A Cost Center generally contains at least one Regular Org Key and one OGA Key.
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SACS RESOURCE CODESBasics of SACS
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What is a Resource Code?Generically, a Resource Code is the part
of the SACS that:• Classifies specific revenues and
resulting expenditures•Restricted programs generally each
have their own resource code•Reporting is generally done based on
Resource Code
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What is a Resource Code?Here are some examples of
Resource Codes at BCOE:•Migrant Education - 3060•Juvenile Court School - 2400
•After School Education and Safety – 6010•Routine Repair and Maintenance - 8100
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SACS Resource Code Matrix
Description Resource Code Range
Unrestricted Resources 0000-1999
Restricted Revenue Limit Resources 2000-2999
Federal Restricted Resources 3000-5999
State Restricted Resources 6000-7999
Local Restricted Resources 8000-9999
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FISCAL YEAR/PROJECT YEARBasics of SACS
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Fiscal YearA fiscal year, in California Schools, is:
• A year that runs 12-months•From July 1 – June 30
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Project YearA Project Year:
•Is defined as any span of time•Can last for as many or as few
months required•Is generally used for Federal
programs as their year is 15 months; from July 1 through September 30
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Project YearProject Year Org Keys also have a two extra
digits representing the project year at the end of the Org Key
For example:If Org Key 30113 was made into a project year, it
would be 3011314; the 14 represents the year ending in 2013-14.
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SACS OBJECT CODESBasics of SACS
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What is a SACS Object Code?An Object Code is the part of the SACS
code used for:•Classifying expenditures by the type of
item or services purchased•Classifying revenue by source and type
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SACS Object Code MatrixDescription Object Code Range
Certificated Salaries 1000-1999
Classified Salaries 2000-2999
Employee Benefits 3000-3999
Books and Supplies 4000-4999
Services and Other Operating Expenditures 5000-5999
Capital Outlay 6000-6999
Other Outgo 7000-7499
Other Financing Uses 7600-7699
Revenues and Other Financing Sources 8000-8999
Balance Sheet 9000-9999
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More on SACS Object CodesThe BCOE Administrative Services
Operating Procedure explains, specifically, which Object Codes are used for which
expenses. To access it, go to the BCOE website, www.bcoe.org, select “Administrative Services”, select “Procedures”, then select “Expenditures”.
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USING SACSBasics of SACS
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Using SACSEnsuring revenues and expenses are properly coded is not important, it is
mandatory due to the SACS State Reporting Software, which tests for these errors.
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Coding ExpensesTo properly code an expense do the
following:1. Select the correct Org Key
2. Select the correct Object Code3. Write them in this manor:
“Org Key-Object Code”For example, 0100007210-4300
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ExamplesFor Fiscal Services to purchase copy paper:
0100007210-4300
For Title I, Part A to pay a teacher:2042914-1100
For BTSA to pay for food for trainings:67396-5800
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BREAKButte County Office of Education