xt7ksn012z0x https://exploreuk.uky.edu/dips/xt7ksn012z0x/data/mets.xml Kentucky. Department of Education. Kentucky Kentucky. Department of Education. 1962-02 bulletins  English Frankford, Ky. : Dept. of Education  This digital resource may be freely searched and displayed in accordance with U. S. copyright laws. Educational Bulletin (Frankfort, Ky.) Education -- Kentucky Educational Bulletin (Frankfort, Ky.), "Uniform School Financial Accounting", vol. XXX, no. 2, February 1962 text 
volumes: illustrations 23-28 cm. call numbers 17-ED83 2 and L152 .B35. Educational Bulletin (Frankfort, Ky.), "Uniform School Financial Accounting", vol. XXX, no. 2, February 1962 1962 1962-02 2022 true xt7ksn012z0x section xt7ksn012z0x   

 

 

This 1
parent we
Manual 0
developed
parable fa
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It ha
Manual w
that. have I
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erenco to l

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recognized
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system.

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accounts u

 

 FOREWORD

This revised Accounting Manual is being presented to clarify ap-
parent weaknesses that have developed in our present Accounting
Manual of June, 1958. As you will recall, the Manual of 1958 was
developed because of a need at the State and Federal level for com-
parable facts and statistics in making nation—wide reports of school
financial transactions.

It has developed that the accounting codes used in the 1958
Manual were not sufficient to carry on the regular and new programs
that have developed since that date. You will notice that alphabetical

numbering of accounting codes has been completely dropped in pref—
erence to numerical codes.

The committee in presenting this revised Accounting Manual has
recognized the growing need of machine accounting. The system and

code numbers used in the Manual can easily be adapted to a machine
system.

The accounting system of any State is one that needs constant
study and revision.

'At the present time, there are five school districts that have pilot
DII’OJects in the use of clearing accounts as recommended in Chapter
SIX, Handbook Two, Financial Accounting for Local and State School
S3’stems, U. S. Office of Education, 1957.

When a system of clearing accounts is adapted to all school dis-

tricts, this Manual will be revised and an approved system of clearing
accounts will be implemented.

WENDELL P. BUTLER
Superintendent of Public Instruction

 

 

 

  

 

 

 

 

 

INTRODUCTION

The success of school administration depends largelyroéi0 31:11::
izinrr the overall needs of the school (:‘ommun'ity, planninpf “acme
eduzational needs, and then promoting financial i'cquisiglsfl: Clan be
the pI‘Ograln best suited to the youth being 501322;.”11nm'p. System
accomplished more Wisely by prowding a scum] ( 1 "to“; {”1119
such as this which is adopted for the public se ioo sy
Commonwealth.

Under the common school laws of the Commonwealth (ft 11:81]]112121‘1
it is mandatory that each county and independent selioo1L (“£1 supp}
periiitendent make monthly and annual financial i-epoits [to “(mounting
intendent of Public Instruction, showing therein a‘stiit .lgqgificamu
0f the district receipts and expenditures Jfor each maJoi c6146“) mm
and other necessary financial and administrative data: m .flw 111.0“
expenditure classifications are being reVised to eon1 oii‘nmnmmjdby
common practices throughout the fifty states and .t 1(I)S(1‘ H 1&6“1 the
the United States Office of Education in collecting (a (
various state departments of education.

. i (T
In order to provide detailed instructions for ume-mirilwciiilttilcl:
to establish common terminology in keepingr With nationa tpacnd ex-
and to entail acceptable codifications for all lllflJOl.‘ receip s med
Pendituresy the Superintendent of Public lnstruction. has 2111:: local
the contents of this MANUAL. It will be expedient fm 1113“ngial
districts to maintain an even more detailed analysis of then hi imam.
activities than is provided herein. This is especially true in te New
districts. However, in all cases, district accounting; should be in c
ment With these adopted expenditure classifications.

1' I

There is a high correlation between the efficiency and Milujffliils

success of a school. system and the accuracy and thoroughnesscerlwd

financial records. It is incumbent upon all school personnel cg]: rum

‘ to Operate within the common school law and. to abide by fa] dent

and regulations of the State Board of Education. ’lhc 017-121 boom“?

ments, instruments and reports from all. local school districlstmldem

the bases for records and data filed in the office of the Snperni CS 0
of Public Instruction. Therefore, there are three chief pui‘POS

the Kentucky Uniform Financial Accounting System:

160

FIRST
the State l
records of
reputation
public scho

SECOI
jeetiuc‘ mor
with more
should be e
of the seho(

'l‘lll Rl
local school
loeal board
their oblig'a
ture establi:

These 1
system. Ne;
confidence i
vision of a ]

Therefi
superintend
izingr these :
Effective Tl]
mon School:

Every (
district fro].
vided if at y
”300le shot
f01‘ I'efei‘ene

The ins
July 1, 196i
this date shz
instructions,
herein. Que
lined in this
State Depar

 

 visual.
1‘ those
execute
can be
system
in the

 

utucky.
rict su-
. Super-
ounting
fieation

major
e most
yed b."
0111 the

nunting,
~actices.
nd CX'
. proved
I y local
nancifll
larger
agree

ucatiofl
S of its
cerned
e rules
] docil-
becO1110
.endelll
oses Of

FIRST, to aid auditors, accountants, and other representatives of
the State Department of Education in examining- and interpreting
records of all financial transactions. This not only safeguards the
reputation of those school officials responsible for the handling of
public school funds, but. also protects the interest of the public.

SECOND. to guide local executives and administrators in pro-
jecting more efficient school programs and to enable them to determine
with more accuracy which practices. procedures. and/or agencies
should be eliminated, modified or continued for the common welfare
of the school eonnuunity.

THIRD, to display at all times the exact financial status of the
local school system; and depict to the State Department of Education,
local board of education, the school administrators and local citizens,
their obligations and assets. and the soundness of the financial struc-
ture established primarily for the education of youth.

These purposes alone are sufficient to justify a sound accounting
system. Neatness and accuracy of records and reports ’N‘nd to inspire
confidence in personnel responsible for the administration and super-
v1s10n of a progressive school system.

Therefore, this MANUAL is designed to facilitate the work of
Si - . . .~ - -
.ipeimtendents, secretaries, treasurers and clerical personnel in real-
iznw - . . .

,5 these and other minor purposes in the rewsion of a modern and

effective Uniform Financial Accounting System for the Public Com-
mon Schools of Kentucky.

(1i t_Every Effort should be made to protect the records of the school
Vigiéetffrom hazards such as fire, flood, etc. A vault should be pro-
e 1 at all Doss1ble for protection of these records. All financial

re ' '
f (iords ShOuld be kept in the office of the superintendent 0f SChOOIS
01 reference at any time.

I - ,
Plhellnstructions throughout this MANUAL are effective as of
, 962. All official documents, instruments and reports after

July

this dat
I. e I - u . .
inStrnct' shall be Prepared 0n the rewsed forms in keeping With these
i .10 ‘ 1 - . . . .
herein QM, find plocessed in the light of the informatlon prOVIded
- uestrons arising:- as to the interpretations of procedures out-

lincl ' '
StatC 1n thlS MANUAL should be referred to the Division of Finance,
, c Department of Education.

 

 

 

  

 

 

ACKNOWLEDGMENTS

Many individuals actively shared in developing this Manual. lt

J amcs H. Johnson
Leon Smith
Alfred Barr
Edward Spencer
Claude Taylor
James W. Colvin
E. C. Grayson
Walter W. Roschi

is obviously impossible to list the names of each person who made :1
contribution. The following are the review committee members who
approved the final draft of the Manual:

()n'ensboro Independent Schools
MeCracken County Schools
Louisville Independent Schools
Department of Education
Department of Education
Department of Education
Jefferson County Schools

Department of Education

162

FORM!

Adequ
are the to
of any seln
system is e
informatim

Aceur:
of the loca
responsible

Kentu
vised to 1‘(
through in
counting- 1w
quate and
of a1] schoo
executives
ing‘ the eff
and (3) g-
custody of

The fo
counting a]
lar eaten-ma
Office of I

GENE
in triplicab
intendent, .
school distr
group estin‘
taxation. V
by the Stat
for the file;

WORK
Working B

 

  
 
 
 
 
   
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
   
   
  
    
   
  

‘mal. It
made a
ers who

ools

ools

FORMS USED IN THE UNIFORM FINANCIAL
ACCOUNTING SYSTEM

Adequate financial information and accurate records and reports
are the foundation and framework for an efficient administration
of any school system; without such information the foundation of the
system is endangered. School officials and employees need financial
information in the daily administration of the schools.

Accurate accounting for school moneys is a basic responsibility
of the local board of education, which is the agency that is directly
responsible to the taxpayers for all phases of the educational program.

Kentucky’s financial accounting system for schools has been re-
vised to reflect the most useful and helpful financial information
through improved reports and financial statements. The various ac-
counting records and forms are so drawn as to make available ade-
quate and accurate information for the sound financial accounting
of all school funds. They have been so planned as to: (l) assist school
executives in formulating, or amending. policies; (2) aid in ascertain-
mg‘ the efficiency of personnel, methods, materials. and equipment;
and (3) guarantee the fidelity of the trust of all persons having
CllStOdy of public school funds.

'Ilhe following discussion will explain the use of the various ac—
countmg and report forms as revised in accordance with the particu-
lar categories and codifications as recommended by the United States
Office. of Education and adapted to Kentucky’s needs:

. GENERAL BUDGET, FORM F-1.—’I‘his form is to be prepared
Etgfihcate, one copy to be retained for the files of the local super-
School edit; and the original and one copy submitted annually by all
group 68: Dots prior to ‘July 1. Only the mayor headings are used to
taxatimll 1116;178:de expenditures, estnnated receipts and sources of local

- en the General Budget of any district has been approved

b -
fy‘the State Board of Education, one approved CODY Will be returned
01 the files of the local district.

WORKING BUDGET, FORM F-10.—The Close Estimate or

Wo ' -
rkmg Budget 1s to be made out in triplicate, one copy to be re-

163

 

  

 

 

tained for the files of the local Board of Education, and the original
and one copy submitted by all school districts annually on or befon
September 15. This form gives a categorical breakdown in detail of
all items of receipts and expenditures. It is an operating budget
based upon more definite information than was available when the
General Budget, F—l, was submitted. and the close estimates are re
vised in accordance with the corrections shown by the final tax certi-
fication and other pertinent information. At this time there shonhl
be no doubt as to the assessed valuation of property. taxpaying fran-
chise corporations, Foundation li’rogram allotment and other sonrees
of revenue. Also, it is now possible to reeord accurately the cash
balances as of July ]. Since this form becomes the operational guide
for the financial administration of the schools for the fiscal year, and
must be adhered to and not exceeded except through obtaining special
approval of the State, Board of Education. great care should be exer-
cised in its preparation.

No additional items of anticipated expenditure may be inserted
nor may the heading of any item be changed. Sub-divisions of eate-
gories provided may be made by notations on the margin, but tllP
totals must be entered in the, budget as presented.

In both the receipts and expenditures sections of the form, (‘Ol-
umns have been provided for including the actual information for
the two previous fiscal years for comparative purposes. In the (‘Vtm
there is a sizable difference in the amount of any receipt or expel”?
category as lulgeted for the current year as compared with T111”
actually smut during th" Elast )‘ear. a letter of explanation act‘Om'
panying the \Vorking ludget. F—lO, might greatly (‘XPG‘lllt’ ill
approval. This will also eliminate further eorrespoui'lenee.

The \Vorking Budget, F—lO, and the front page of the Salal‘,"
Schedule, F—lO-G, must be thoroughly cross~cheeked before 1'900‘11'
mendation to the State, Board of Education for approval. After til“
Proval, one CODY of each will be returned for the files of the keel
district. The receipts and the expenditures must balance.

SALARY SCUEDTTLE, FORM F-lO-6.—This form is a 5111)Dl("
ment to the \Vorking Budget, F-lO. The grand total of all Salami
listed hereon must agree with the sum of the instructional codes '1'0‘
quested in the budget reeapitulation, as submitted on the Work“llrr
Budget, F—lO. Actually, the amounts listed on the Salary SChedule'

164

lV-lll-li. arr
instructioi

The r
IMO-6, is
One copy
Board of
local distr

SAL
the listing
plenients

SAL
known as '
mits at cm
instructi01

new finan
non-reveni
month all
to the Rec
of inonthl‘

EXP
Pepted ma
form, ther
for each d
to be totalt
maryy R3
eial report

to assist ii
Annual Fi

EXP
wise is a 1
tnres to b

 

 original
r before
letail of
budget,
hen the
are re-
1X certi-
‘ should
1g fran-
sources
he cash
ll guide
an, and
* special
be exer-

.nserted
of cate-
but the

7m, col-
ion for
9 event
3xpense
th that
accom-
lite lit

Salary
recom-
ter HP‘
9 local

supplt'
mlaries

deg 1'6" g

'orkill‘J

bedllle: ’

F-lO-G, are a detail breakdown by persons of the amount shown for
instructional salaries on the \Vorking Budget, F-10.

The required number of copies of the complete Salary Schedule,
F-10-6, is submitted annually by each school district by September 15.
One copy is retained for the local files. After approval by the State
Board of Education, one copy will be returned for the files of the
local district.

SALARY SCHEDULE, FORM F-10-7.—This form is used for
the listing of all certified personnel in each school district. This sup-
plements Form F-lO—G.

SALARY SCHEDULE, FORM F-10-8.—This form is generally
known as “Changes in Salary Schedule” which a school district sub-
mits at certain periods in the school year as specified. All changes in
instructional personnel are listed hereon.

RECEIPT LEDGER, FORM F—15.——-This form is a part of the
new financial record book. Receipts are divided as to revenue and
non-revenue and coded as to sources. At the end of each calendar
month all columns are to be totaled, balanced and carried forward
to the Receipts Summary, F-25. This is necessary for the preparation
0f monthly financial reports.

EXPENDITURES LEDGER, FORM F-20.—The generally ac-
cepted major divisions of school accounts are consolidated into one
form, thereby eliminating the necessity of having separate ledgers
for each division. At the end of each calendar month all columns are
t0 be totaled, balanced and carried forward to the Expenditure Sum-

Diary, F-30. This is necessary for the preparation of monthly finan-
clal reports.

RECEIPTS SUMMARY, FORM F-25.—This form provides for
of CCimdensation of receipts from various sources. Monthly the totals
0 “Inns are to be. brought forward from the Receipts Ledger, F-15,

t ("o u ' ‘ .
gasyst Ill preparlng the Monthly Financial Report, F-50, and the
nnual Financial Report, F55-

the

EXPENDITURE SUMMARY, FORM F-30.——This form like-
S a part Of the financial record and permits monthly expendi-

Wise 1
ture . -
S t0 be carried forward from the Expenditure Ledger, F-20, for

165

 

 

  

 

 

 

conveniently arriving at totals to be used in preparing the Monthly
Financial Report, F-50, and the Annual Financial Report, F-55.

ORDERS OF THE TREASURER, FORM F-40.'—_TlllS order
sheet is the treasurer’s authority and protection for expending school
funds. Although the minutes of the board of education show that
claims properly presented are legally authorized to be paid, this form
is the treasurer’s official notice to make the disbursements. Treasurers
are cautioned to “make no disbm'semcnt for (my claim unless pri-
sented on this form properly signed by the secretary and the chairman
of the particular board of education.”

TREASURER’S MONTHLY REPORT, FORM F-45.r’l‘his is
a monthly financial report of the local treasurer to the board of edu-
cation, revealing the financial condition of the treasury.

MONTHLY FINANCIAL REPORT, FORM F-50.#The monthly
financial report is a budget control statement to be submitted by the
secretary of the board to the Division of Finance, State Department
of Education, by the fifteenth of each succeeding calendar month.

Qolumn one of the monthly report is for reporting expenditureS
made for the current month; column, two is for the budgeted allow
ance for the particular item at the beginning of the school year, as
revealed by the approved Working Budget, F-lO; column three is fol‘
the accumulated or total amount expended to and including the month
reported; column four is for reporting the difference between column
two and column three, thus giving the unexpended balance in each
budgeted item. When expenditures are in excess of amounts budfl'eted
the difference is reported in “rec ” in column four. Receipts are
treated likewise. Such report will reveal monthly to board members
the true condition of unexpended funds. It also will enable the State
Department of Education to check monthly on boards of education
as to whether or not their expenditures for any items are exceeding
budget appropriations.

ANNUAL FINANCIAL REPORT, FORM F-55.—-One cop.V Of
this form is submitted annually to the Division of Finance, State
Department of Education, by the treasurer of each district on 07‘ M
fore July 15. This form is arranged for a comparative analysis Of
actual financial transactions for the fiscal year with budgetary GStl'
mates as submitted on the Working Budget, F-lO, at the beginning of

166

the fiscal
budgeted,

The 1
financial
a buildint
aration o
chairman

pany bon
insurance
capital 01
informatit
submitted
Report,

the chain

 

 the fiscal year involved. \Vhen expenditures are in excess of amounts
budgeted, the difference is reported in “red” in column three.

The new form also provides for a recapitulation of the annual
financial transactions, a comprehensive balance sheet, a sinking fund,
a building fund, and capital outlay fund reconciliation. After prep-
aration of this report by the treasurer, it must also be signed by the
chairman and the secretary before submission. It is necessary that
the books of the local board be fully posted, totaled, checked, and
closed before this report is submitted.

ANNUAL FINANCIAL REPORT, INDEBTEDNESS ANAL-
YSIS, FORM F-55—1.—This form, Part ll, provides for a convenient
detail analysis of the liabilities of a school district. It is divided into
nine sections dealing with voted bonds, funding bonds, holding com-
Pany bonds, short term loans, accounts payable, accounts receivable,
insurance on buildings mortgaged for issuance of revenue bonds, and
capital outlay fund recapitulation. Each section contains pertinent
information for the particular type of indebtedness. The report is
submitted annually by each district along with the Annual Financial
Report, Part I, on or before July 15, fully signed by the treasurer,
the chairman, and the secretary of the board.

.TAX COLLECTOR’S MONTHLY REPORT, FORM F-60.——
This is a monthly financial report of the sheriff or special tax collector
to the board of education. It provides for an itemized statement of
taxes collected during the current month, sources of revenue being
listed under seven major headings. It is designed to systematize and

clarlfy financial relations between the. tax collector and the board of
education.

CLAIM FORM, F-75.—This form is issued and recommended
£101" use in all cases Where the vendor, or person rendering the service,
cfifinlméifizze a stzllndard printed invoice upon which to present the
ized and V6]? iepiylc aim to be legal must be presented in writing, item-
where standwgeci'tte Claim Form R-7b, must be used in all cases
of acceptinaidapmn ‘cd mvozccbr 01mm as not available. The practice
blank Ched; is ims on small pieces of paper, backs of envelopes and

. i indefenslble and cannot be approved.

The, ' - .
of ser . claim when presented on this form must show the exact kind
vi , .. ,
CG, Whele, When and by whom performed; also time and rate.

167

 

 

  

 

 

All such claims must be signed by the claimant, and approved by the
superintendent or other designated personnel before presented to the
board of education for payment.

All paid claims, whether on Form F-75 or standard invoices, must
have entered thereon the cheek number by which payment was made.
the date check was issued, and the expense code to which charge is
posted. In many cases the charge will be prorated among several codes.

GENERAL RECORD BOOK, FORM F—90.!The General Record
Book is the official record of all of the board of education’s proceed-
ings when in session. Since the Kentucky Statutes state “the secre-
tary . . . shall record in a book provided for that purpose all its offi-
cial proceedings,” it naturally follows that the General Record Book
shall contain the complete minutes of the board of education——eve1‘y
topic acted upon, every decision by the board. every elaim presented
for payment, every salary paid, and all reports and petitions coming
before the board.

In addition to the complete record of business transacted about
special sections are provided for recording- the name, occupation, ad-
dress, date of election, date qualified and term end of all board mem-
bers.

BOND REGISTER, FORM F-95.—This form becomes a part Of
the financial record and provides for recording- all information con—
cerning bond issues outstanding. All districts with voted, funding 01‘
holding company bonds must keep this form filled out in detail at all
times as a part of its permanent records.

INSURANCE REGISTER, FORM F-]00.—This form is 31503
part of the permanent financial record system. The form is so draw"
as to provide the board of education, the public and all auditOI‘S with
all information relative to insurance carried by a board of educatiol1
on its property. This form must of necessity be kept up-to-date 0113“
Insurance transactions.

BOND OF TREASURER, FORM F-B—5.—This form must he
submitted in triplicate by all boards of education for bonding the
treasurer for one or more years. (Note: Treasurer’s bonds should be
so executed that the premium date falls due coinciding with the fiscal
year end, June 30). If this bond form is executed for more than 0119
year, continuation certificates from the surety company must be Suh‘

168

form is St
designatet
oral” met

Whei
of the sect
Superinte

Whei
be returne

 

 

 d by the
:d to the

es, must
is made,
harge is
al codes.

1 Record
proceed-
ie secre-
its offi-
rd Book
.—every
resented
coming

31 above.
,ion, ad-
rd mem-

part of
ion con-
tding 01'
H at all

s alsoa
) drawn
DI'S with
.ucation
e on all

must be
ing the
ould be
e fiscal

ian one i
be Sllb' :

mitted each July. When approved by the State Board of Education,
two copies will be returned to the local board of education.

COLLATERAL DEPOSITORY BOND, FORM F-B-15.—This
form is submitted in triplicate by all boards of education when the
designated depository uses the “escrow agreement” or the “collat-
eral” method of protection.

When used as the “collateral” method, the safe-keeping receipt
of the securities as deposited must be on file in the Office of the Local
Superintendent of Schools.

When approved by the State Board of Education, two copies will
be returned to the local board of education for its files.

169

 

 

  

 

CLASSIFICATION OF RECEIPT ACCOUNTS

The following page contains the classification of standard receipt
accounts included in this manual. The classification is designed to
accommodate the needs of both large and small school districts in the
Commonwealth. It contains minimum essentials for all school distrieh
and provides additional standard accounts for those districts that may
wish to go beyond the minimum.

The classification of receipt accounts as listed herein are for use
in accounting of receipts to the general fund.

“There, legal requirements or other considerations necessitate the
establishment of special funds, other data is available for pl'Olm'
classification.

The source of the receipts determines the classification as indi-
cated by the two digits code. Examples: Codes #11—18 inclusive are
receipts from local taxation, Codes #21—23 inclusive are receipts from
tuition, Codes #31-35 inclusive are receipts of revenue from all other
local sources, etc.

The receipt accounts are defined on pages immediately following
the codes classification.

170

 

REVENUE
TAXATIC
11. Get
12. e]
13. Re
14. Fre
15. W11
16. Bax
17. P01
18. Otl‘
TUITION
21. Pat
22. Pat
23. Tra
OTHER R
31. Int:
32. Re:
33. N0!
34. Stu
35. A11
REVENUI
41. For
42. 0th
FEDERA1
52. Puk
53. Pu]:
54. 0th
REVENUE
61. Pu]:
63. 0th

 

 I S — RECEIPTS —

receipt
'lied to

in the
istricts
at my TAXATION

11. General Property Tax

12. General Property Delinquent Tax
01' “SP 13. Revenue in Lieu of Taxes

14. Franchise Tax

15. Whiskey Tax
ate “1“ 16. Bank Shares Tax
proper 17. Poll Tax

18. Other Taxes

REVENUE RECEIPTS

REVENUE FROM LOCAL SOURCES

3 Mi TUITION

1V9 31'“ . 21. Patron Tuition (Regular Program)
5 from 22. Patron Tuition (Summer Program)
1 other 23. Transfer Tuition

. OTHER REVENUE FROM LOCAL SOURCES
10mm; 31. Interest from Investments and Temporary Deposits
32. Rental of School Facilities

33. Non-Public School Transportation
34. Student Fees

35. All Other Revenue Receipts

REVENUE FROM STATE SOURCES

41. Foundation Program Fund
42. Other

FEDERAL AID THROUGH THE STATE
51. School Lunch
52. Public Law 864 (Title III)

53. Public Law 864 (Title V)
54. Other

REVENUE FROM FEDERAL SOURCES
61. Public Law 874
62. Public Law 815
63. Other

 

 

 

 

  

NON-REVENUE RECEIPTS

BONDS AND LOANS

71. Sale of Bonds (Voted and Funding)
72. Temporary Loans

SALE OF SCHOOL PROPERTY AND INSURANCE ADJUSTMENTS
81. Sale of Real Property
82. Sale of Equipment
83. Sale of Miscellaneous Items
84. Insurance Recovery

ADVANCEMENTS AND REFUNDS

91. Receipts from Advancements
92. Refunds

172

REVENU

TAXAT]

11.

12.

13.

14.

15.

16.

17.

18.

G
t;
e1
G
p:
it

0t

TUITIOI‘

21.

22.

23.

TI
re
DE
Tl
re
p1
T1
sc

 

 — RECEIPTS —

REVENUE RECEIPTS

REVENUE FROM LOCAL SOURCES

TAXATION

11.

General Property Tax—Enter here all taxes collected from the
tax levy made by the local taxing authorities on personal prop-
erty and real estate.

General Property Delinquent Tax—Delinquent taxes on personal
property and real estate, whenever collected, are to be recorded
in this classification.

Revenue in Lieu of Taxes—Enter here all revenue collected
locally in lieu of taxes. Examples: Collections from municipal
housing commissions and utilities.

Franchise Tax—Enter here all revenue from taxpaying franchise
corporations assessed by the State Tax Commission (real estate,
personalty, and intangibles). Also, delinquent franchise tax,
whenever collected, is to be recorded in this category.

Whiskey Tax—Enter here all taxes collected from the whiskey
withdrawal tax.

Bank Shares Tax—Revenue from bank shares tax, including
delinquent taxes of same, are to be recorded here.

Poll Tax—Revenue from poll tax, including delinquent taxes of
same, are to be recorded here.

Other taxes—Enter here revenue from taxes which are not
otherwise classified.

TUITION

21.

Tuition from Patrons (Regular Program)——~Enter here tuition
received from individuals for out of district pupils who are
Partmlpatmg in the regular school program.

Tuition from Patrons (Summer Program)——Enter here tuition

received from individuals participating in the summer school
program.

Transfer Tuition—Enter here all tuition received from other
school districts.

 

 

 

 , I

. 31.

34.

35.

41.

42.

51.

52.
53.

54.

61.
62.

63.

 

32.

33.

OTHER REVENUE FROM LOCAL SOURCES

Interest from Investments and Temporary Deposits—Enter here
interest received from short-term investments in government
securities and time deposits at banks.

Rental of School Facilities—Enter here all money received from
the rental of school land, buildings, and equipment.

Non-Public School Transportation—Enter here all reimburse-
ment received for actual cost of transportation of non-public
school pupils.

Student Fees—Enter here all revenue received from student fees.

All Other Revenue Receipts—Enter here all other revenue
receipts not otherwise classified. Examples: Gifts, donations.
contributions, fines turned over to the board, etc.

REVENUE FROM STATE SOURCES

Foundation Program Fund—Enter here all allotments received
from the Foundation Program Fund, including the Capital Out-
lay Allotment.

Other—Enter here all revenue from state sources not otherwise
classified. Examples: Agriculture, Home Economics, T & 1, Rural
Development, etc.

FEDERAL AID THROUGH THE STATE

School Lunch—Enter here only the reimbursement for approved
Federal School Lunch Program and Federal School Milk Pro'
gram.

Public Law 864—Title III—Enter here reimbursement received
for purchases made under the provisions of Title III.

Public Law 864—Title V-A—Enter here reimbursements received
for purchases made under the provisions of Title V—A.

Other—Enter here all revenue received from the Federal gov”
ernment thru the state which are not otherwise classified.
Examples: TVA payments in lieu of taxes. Veterans Institutional
on-the-Farm Training Program, Civil Defense, etc.

. REVENUE FROM FEDERAL SOURCES

Public Law 874—Enter here all allotments received for maintc'
nance and operation of schools.

Public Law 815—Enter here any receipts providing finandal

assistance for construction of school facilities.

Other—Enter here receipts in lieu of taxes such as forestry
grants, TVA (direct from Federal government), etc.

174

BONDS AZ
71. Sai
sal

re\

72. Te]
SALE OF
ADJUSTM
81. Sa]
lan

82. Sa]
me

83. Sa]
of .

84. Ins
los.
ADVANCE
91. R61
fro

92. Rei
ove

etc

 

  

NON-REVENUE RECEIPTS

BONDS AND LOANS

71.

72.

Sale of Bonds (Voted and Funding)—Enter here receipts from
sale of voted and funding bonds. Do not enter school building
revenue bonds.

Temporary Loans—Enter here receipts from temporary loans.

SALE OF SCHOOL PROPERTY AND INSURANCE
ADJUSTMENTS

81.

82.

83.

84.

Sale of Real Property—Enter here proceeds from the sale of
land and buildings.

Sale of Equipment—Enter here proceeds from the sale of equip-
ment.

Sale of Miscellaneous Items—Enter here proceeds from the sale
of any item which is not otherwise classified.

Insurance Recovery—Enter here money received from insured
losses of school property.

ADVANCEMENTS AND REFUNDS

91.

92.

Receipts from Advancements—Enter here receipts of money
from advances previously made under expenditure Code 1460.

Refunds—Enter here refunds due to salary overpayments, other

overpayments, insurance adjustments on premiums, vandalism,
etc.

 

 

 

 

  

 

CLASSIFICATION OF EXPENDITURE ACCOUNTS

The expenditure accounts as listed in this manual are applicable
only to the General Fund.

Where legal requirements or other considerations necessitate the
establishment of specific funds, other data is available for .proper
classification of expenditures of those accounts. All school districts.
regardless of size, are to maintain the minimum expenditure accounts
as shown in the classification as long as they expend any money for
any of the purposes indicated by the individual minimum accounts.

Major Account Series Arc:

100—Administration

ZOO—Instruction

300——Attendance Services

400—Hea1th Services

SOD—Pupil Transportation Services

GOO—Operation of Plant

700—Maintenance of Plant

BOO—Fixed Charges

MOO—Community Service
1200—Capita1 Outlay
1300—Debt Service
MOO—Outgoing Transfers

. . . - l.
Expenditure Accounts are defined in another part of this mama

f
All school districts of the Commonwealth operate on a CaSh basis“?
accounting; in that revenue is recorded only when collected and 0