# GENERAL INSTRUCTIONS: ANNUAL FINANCIAL REPORT (CNPweb) National School Lunch, School Breakfast Programs 1/09

Save this PDF as:

Size: px
Start display at page:

Download "GENERAL INSTRUCTIONS: ANNUAL FINANCIAL REPORT (CNPweb) National School Lunch, School Breakfast Programs 1/09"

## Transcription

3 EXPENSES Report on a cash basis those bills that are paid during this year. In this section Column A will be known first and then will be allocated out to the other columns. Expenses often are not readily identifiable with a specific program. Consequently, in the long run it may be easier to use allocation percentages for more appropriate costs in each of the programs. Pages 6-7 describe a method that can be used to determine allocation percentages. There is a built-in option to select either dollar or percentage values for the program expense allocations. If the percentage method is used (preferred), the dollar amounts can be calculated from the dollars in Column A by the CNPweb system by clicking on the Calculate button at the bottom of the report. The reverse is true that if dollars are put in, the percentages will be figured by the system. Column B lines 9, 10, 11, 13, and 24 can be used to calculate the average cost per lunch which is the basis adult lunch prices, and for deciding student prices. Adding all the properly allocated expenses in any of the columns and dividing by the number of those meals served in the year will give an average cost per meal. Therefore, it is very important to allocate costs accurately among all the programs operated. Line 9 Column A Include all food costs paid for in this year. This includes costs of obtaining commodities and warehouse storage. Column B - G The total cost of food used must be distributed to all offered programs. For a method to more accurately determine expenses by program, see page 6. If there is income for food sales in any of Columns B - G, then there must be an expense for purchasing the food. Milk expense should be allocated to all programs of which it is a part. Do not put all milk expense in Column E. If the kindergarten Special Milk Program is in operation, then use it only for the cost of the kindergarten milks. Expenses must equal the amount in Column A. Line 10 Column A Report labor expenses paid in this year. Report gross salary as well as other employer-paid benefits, such as health insurance, retirement funds, employer-paid FICA, workman's compensation, unemployment compensation, etc., only when these benefits are charged to the food service account. Column B G Labor costs must be allocated to each program offered. Using allocation percentages obtained by conducting a time study of your workers would make this much simpler in the long run. See page 7 for this information. Line 11 Report bills paid this year for purchases of food service equipment costing less than \$300 per unit and most repairs regardless of cost. For questions on very expensive repairs and 'rebuilds,' call the State Agency. This line may be allocated using the same allocation percentages as for cost of food used. See page 6 Line 12 Report bills paid this year from food service funds for the purchase of food service equipment with a unit cost of \$ or more. Line 13 Post other allowable expenses paid this year, not already reported under any of the expense lines above. This includes non-food items napkins, soap, etc. Expenses that cannot be readily identified by program must be allocated to all programs using the same allocation percentages as those for cost of food used. See page 6. Line 14 Include any actual charges against the food service account for indirect costs. If the corporation chooses to recover the indirect expenses incurred in the operation of the food 3

4 service programs, this should be reported only after the transfer of funds is actually made. Line 15 Record loans repaid (including interest charges) and monies returned to the State Agency for audits or over claims. Line 16 Sum of lines 9 through line 15, Column A. This number will also be in Box 19. The next four lines should reflect all monies received by the food service operation and all monies expended regardless of what form it may take. Examples are cash on hand, cash in bank, checks, certificates of deposit, interest earned, etc. Line 17 Report the beginning operating balance of the year from your ledger records, not the bank statement! Do not forget to include any investments. This would also be the Ending Balance from last year s report. Line 18 Report all income received; it will be equivalent to box 8. Line 19 Report all expenses paid; it should equal box 16. Line 20 This will equal box 17 plus box 18 minus box 19, or the ending operating balance. It does not include unspent funds held on account in the Balance of Accounts section, box 23. The sum of 20 and 23 should be the same as the actual amount of money in the bank. Line 21 Report bills outstanding (unpaid) on June 30. Line 22 Report income outstanding (not yet received) on June 30 such as reimbursement or billings to outside organizations for food service. Line 23 Balance of Accounts is the unspent balance of funds being held on account for students and adults. As stated before, this is essentially an Accounts Payable type of account and represents a liability to the school food service account. Although schools usually have reasonable policies to discourage it, parents can in theory ask for a refund of the unspent money, subject to certain restrictions. Line 24 Report depreciation claimed on nonexpendable food service equipment. Annual depreciation is figured by taking the total net acquisition cost of the equipment times the annual depreciation factor. This line is not required to be filled in. Nonexpendable food service equipment is defined as having a useful life of more than one year and an acquisition cost of \$300 or more per unit. All nonexpendable food service equipment may be depreciated over a twelve-year period using the annual depreciation factor of Light trucks with an empty weight of less than 13,000 pounds and over-the-road tractor units may be depreciated for only four years using a annual depreciation factor of Heavy trucks with an empty weight of more than 13,000 pounds and trailers may be depreciated for only six years using a annual depreciation factor of If 1 and 2 above are shared with other users or provided from a central source, the depreciation cost must be prorated. Depreciation cannot be claimed for equipment that is rented, in storage, or not in use. Once equipment has been fully depreciated, it must be removed from the depreciation schedule. 4

5 Depreciation costs may be allocated using the same percentages obtained for allocating the cost of food. See page 6. Line 25 Unrestricted Indirect Cost Rate use only if there were indirect costs recovered by the school and listed in Line 14. This percentage is available from public school business manager. The final section of the report contains the certification. You must first select the last month of the program year for which a claim was filed. Then check that you certify the report to be true and correct, that records are available to support the report, and that it is in accordance with existing agreements. Please be reminded of existing record retention requirements. The Federal government requires retention three (3) years past the end of the federal fiscal year to which records pertain. State laws are more complicated: three (3) years for corporation accounts and five (5) years in the case of extracurricular accounts. Public records should never be destroyed without the permission of the county commission on public records. State records should be retained until audited by the State Board of Accounts and until any such audit is resolved. Nonpublic sponsors (including parochial schools) have to follow only the federal guidelines, while public sponsors must follow the federal and state guidelines, as well as those of the county commission. 5

6 ALLOCATION PERCENTAGES Using allocation percentages simplifies the distribution of costs to the offered programs on the Financial Report while providing realistic information. For example the dairy does not invoice for lunch milk, breakfast milk and extra milk. So rather than attempt to track all food items by program, it would be easier to distribute expenses by percentage. This whole process involves information more readily known by food service professionals in each kitchen than by a bookkeeper in the central office the menus and the portion costs. The percentages will be an educated guess using realistic data. The percentages can then be used to fill out the Expense section of the Financial Report. The State Agency strongly recommends recalculating percentages annually or whenever there is a significant change in programs offered, such as adding a snack program. Food cost percentages may be used to distribute all expense categories except labor. Labor cost percentages are likely to be different. Food Expense Allocation: Figure an average cost of food per person for breakfast and lunch using a week or two of menus and costs per serving from the year. Multiply this average cost of food per meal times the number of that type of meals actually served during the year. This should include all student and adult meals as listed on all the claims for that program year. For example: If a breakfast average food cost was \$.60 and there were 20,000 breakfasts served to students and adults during the year, then the Breakfast Food Expense would be about \$12,000. If the lunch average food cost was \$1.20 per meal and there were 65,000 lunches served to students and adults during the year, then the Lunch Food Expense should be about \$78,000. This is first step in determining reasonable percentages for the Food Expense line. If we already know Column A for the year (Example: \$110,000) and now have the estimates for lunch and breakfast, what is left must be Other Food Service. Put these dollar amounts in the AFR online with the dollar button on and let the CNPweb system figure the percentages by clicking on the Calculate button at the bottom of the report. (A) Total (B) Lunch (D) Breakfast (G) Other Food Svc. \$110, \$78,000 \$12,000 \$20, % 70.91% 10.91% 18.18% After the system shows what the percentages are by program (as above), it is reasonable to round up both breakfast and lunch to the next whole percentage numbers to allow for condiments, dropped trays, pan waste, etc. Also, using whole number percentages is easier to type into the percentage line of other items such as Equipment and Miscellaneous. Click the percentage button and round up lunch and breakfast % up to next whole number and make the Other Food % be whatever is left to be an even 100% across. Either Calculate or Submit will refigure the dollar amounts for you. The following example would be the result of that. (A) Total (B) Lunch (D) Breakfast (G) Other Food Svc. \$110, \$78,100 \$12,100 \$19, % 71% 11% 18% Use these same Food Expense percentages for Equipment, Miscellaneous, and if need, Depreciation. 6

7 Labor Expense Allocation: This works reasonably well if most employees have the nearly the same wage rate and every day has the same number of work hours. Column A is always 100%, so imagine it is also ALL the labor hours for one day paid for out of Food Service funds. You can then determine on a DAILY basis, the number of hours for preparation, service and cleanup of breakfast, lunch, snacks, and/or a la carte/catering. Consider preparation, serving time, and cleanup for each column at each kitchen. (Administrative time will be proportioned out with the percentages at the end.) These daily numbers can be used to determine percentages for each program of the total daily labor hours for the school district. Daily hours from each kitchen would be added together to come up with a corporation percentage. It s easiest to start with breakfast and any other small program. Service and cleanup time for lunch can be roughly estimated based on the proportion of kids getting lunch vs a la carte. If 2/3 of your customers are buying school lunch, then 2/3 of the lunch time serving and cleanup hours could be for lunch and 1/3 for a la carte. The last set of hours to figure would be preparation for lunch vs a la carte. This kitchen at School A has 6 people for 30 labor hours daily, lunch serving time is 1 hour, and lunch cleanup time is 1½ hr after lunch. One lady handles all of breakfast preparation, service and cleanup. A la carte preparation is minimal as all items are pre-packaged portions and ¼ of the customers purchase. Chart of Work Hours per day from kitchen at School A: A B D E (or C) G School A Total Hours NSLP SBP SMP (or Snack) Other Food Preparation Service Cleanup Total Hrs hrs hrs.25 hrs.25 hrs 2.00 hrs 6.50 hrs 4.50 hrs.50 hrs hrs 9.25 hrs 6.75 hrs.25 hrs hrs hrs hrs 1.00 hr.25 hrs 5.75 hrs Labor hours from each kitchen charted together for percentages at the corp level. A B D E (or C) G Total Hours NSLP SBP SMP (or Snack) Other Food School A School B Total Corp Hrs Corp % 100% 30 hrs hrs 1 hrs.25 hrs 5.75 hrs 50 hrs hrs 2 hrs hrs 80 hrs hrs 3 hrs.25 hrs hrs.6625 or 66%.0375 or 4%.0031 or.1%.2969 or 29.9% Now these percentages can be used on the AFR line 10 in the % line. Insert Labor dollars on Column A. Click the percentage button and only input your percentages. Using the Calculate button at the bottom of the form will figure the dollars appropriate for each percentage and place them in the form for you. 7

### School Nutrition Programs. Food Service Annual Financial Report. Child Nutrition Report Manual

School Nutrition Programs Food Service Annual Financial Report Child Nutrition Report Manual Revised November 2015 This manual illustrates how to enter, modify, and view-print the Food Service Annual Financial

### Financial Management: A Course for School Nutrition Directors. National Food Service Management Institute

Financial Management: A Course for School Nutrition Directors National Food Service Management Institute 1 Importance of Financial Management Objective: Know the importance of financial management to nutritional

### Michigan Department of Education Year End Report for the School Meals Program Frequently Asked Questions

Michigan Department of Education Year End Report for the School Meals Program Frequently Asked Questions The person completing the Year End Report should consult with their business manager and/or audit

### PURPOSE STATEMENT FOOD SERVICES

PURPOSE STATEMENT FOOD SERVICES The committee recommends this document as a tool for the Secretary of State Audits Division, the Oregon Department of Education, and school and education service districts

### S ECTION 4 F INANCIAL A NALYSIS AND P ROGRAM E VALUATION

F INANCIAL A NALYSIS AND P ROGRAM E VALUATION Financial Analysis and Program Evaluation Successful financial management of a school foodservice operation requires careful review and analysis of financial

### Manual of Accounting and Financial Reporting for Pennsylvania Public Schools CHAPTER 9 TABLE OF CONTENTS. Chapter 9 9.1

Manual of Accounting and Financial Reporting for Pennsylvania Public Schools CHAPTER 9 TABLE OF CONTENTS 9.1 9.1 ENTERPRISE FUNDS 9.2 Nature And Purpose 9.2 Food Service Fund 9.2 Basis Of Accounting And

### Office of School Support Services School Nutrition Programs October 2013

Michigan Department of Education Office of School Support Services School Nutrition Programs October 2013 Intent t and dscope To ensure the overall health of an SFA s nonprofit school food service Maintenance

### CLASSIFICATION AND DEFINITION OF CLEARING ACCOUNTS

PART 6 6-1 CLASSIFICATION AND DEFINITION OF CLEARING ACCOUNTS CLASSIFICATION OF CLEARING ACCOUNTS In an accounting system maintained on a cash basis, it becomes necessary to establish certain ledger accounts

### Instructions for E-PLAN Financial Planning Template

Instructions for E-PLAN Financial Planning Template The EPLAN template will assist you in preparing financial projections for your existing business. The template uses Microsoft Excel to prepare your projected

### Contracting with a Food Service Management Company Training Part 2. November 2014 36

Contracting with a Food Service Management Company Training Part 2 November 2014 36 Presentation can be found at: Pennsylvania Department of Education (PDE) Division of Food and Nutrition (DFN) http://www.education.state.pa.us/portal/server.pt/community/fns

### School Nutrition Programs Online Services Claim Manual

School Nutrition Programs Online Services Claim Manual Revised October 2015 This manual illustrates how to enter, modify, view-print claims for the National School Lunch Program, School Breakfast Program,

### Instructions for the Automated Administrative Budget Sponsors of Day Care Homes and Sponsors of Unaffiliated Centers

CHILD CARE FOOD PROGRAM (CCFP) Instructions for the Automated Administrative Budget Sponsors of Day Care Homes and Sponsors of Unaffiliated Centers The automated administrative budget is available on the

### ARCHDIOCESE OF LOUISVILLE FOOD SERVICE POS TRAINING MANUAL

ARCHDIOCESE OF LOUISVILLE FOOD SERVICE POS TRAINING MANUAL Archdiocese of Louisville Food Service Director Juanita Bisig 212 East College Street P.O. Box 1073 Louisville, KY 40201 (502) 585-3291 ext 1123

### BASIS OF ACCOUNTING WHICH ONE SHOULD YOU USE?

From time to time a question is raised by managers and board members regarding the basis of accounting that should be used when preparing interim financial statements for a homeowners association. Before

### Financial Management:

Financial Management: A Course for School Nutrition Directors 2nd Edition 8 hour Participant s Workbook i The University of Mississippi School of Applied Sciences Financial Management: A Course for School

### HEADING: CONTRACT AGENCY LEGAL NAME

COUNTY OF LOS ANGELES - DEPARTMENT OF HEALTH SERVICES ALCOHOL AND DRUG PROGRAM ADMINISTRATION COST REPORT FOR CONTRACTED SERVICES OUTPATIENT DRUG FREE SERVICES INSTRUCTIONS COST REPORT FOR CONTRACTED SERVICES

### 7.2.0 Appropriate Level of Fund Balance

NUMBER PRACTICES AGENDA DATES 2.9.0 Capitalization of Fixed Assets 11/14/2007 2.11.0 Investment Management 11/14/2007 2.13.0 Capital Expenditure 11/14/2007 2.14.0 Debt Service Payment Settlement 11/14/2007

### General Ledger Year-End Procedures 2014

General Ledger Year-End Procedures 2014 Introduction As we approach the end of the year, it is necessary to prepare for the annual audit as well as finish up the year s work from an accounting perspective.

TABLE OF CONTENTS CHAPTER 9 Purpose...1 Balance Sheet Accounts...1 Assets...1 Cash...1 Accounts Receivable...2 Accounts Receivable Allowances...4 Loans and Notes Receivable...4 Loans and Notes Allowances...5

### FINANCIAL POLICIES INDEX

FINANCIAL POLICIES INDEX Page Accounts Payable 2 Cash Receipts 6 Credit Cards 9 General Ledger Adjustments 10 Fixed Asset 11 Payroll Tax Reporting 13 Travel Reimbursement 14 Handling Mail 15 1 Accounts

### FAYETTEVILLE STATE UNIVERSITY ACCOUNTS PAYABLE AND TRAVEL POLICY

FAYETTEVILLE STATE UNIVERSITY ACCOUNTS PAYABLE AND TRAVEL POLICY Authority: Category: Issued by the Chancellor. Changes or exceptions to administrative policies issued by the Chancellor may only be made

### Appendix C: Examples of Common Accounting and Bookkeeping Procedures

Appendix C: Examples of Common Accounting and Bookkeeping Procedures In this Appendix the use of the term monthly means on a regular cycle, based on the needs of your district. Some of the sample accounting

### Study Guide - Final Exam Accounting I

Study Guide - Final Exam Accounting I True/False Indicate whether the sentence or statement is true or false. 1. Entries in a sales journal affect account balances in both the accounts receivable ledger

### AUDIT AND FINANCE COMMITTEE

Item: AF: I-4 AUDIT AND FINANCE COMMITTEE Wednesday, February 16, 2011 SUBJECT: REVIEW OF FAU INTERCOLLEGIATE ATHLETICS PROGRAM INDEPENDENT ACCOUNTANT S REPORT ON AGREED-UPON PROCEDURES FOR THE YEAR ENDED

### ARCHDICOESE OF SEATTLE

ARCHDICOESE OF SEATTLE SECTION C PARISH ACCOUNTING CONCEPTS INDEX I. ACCOUNTING DEFINITIONS 1C - 3C II. RECORD KEEPING JOURNALS 4C - 5C III. GENERAL LEDGER 5C IV. DOUBLE ENTRY ACCOUNTING V. RECEIVABLES,

### A contractor s chart of accounts is the heart of the accounting system. Of particular importance is the cost of sales section (beginning in the 41000

CHART OF ACCOUNTS A contractor s chart of accounts is the heart of the accounting system. Of particular importance is the cost of sales section (beginning in the 41000 series and ending in 43000). This

### M-48A Franchise Financial Summary

Overview These guidelines have been designed to help you understand the information contained in the Franchise Income / (Expense) Statement. It is comprised of the following reports: 1) Financial Summary

### Cash Flow Forecasting & Break-Even Analysis

Cash Flow Forecasting & Break-Even Analysis 1. Cash Flow Cash Flow Projections What is cash flow? Cash flow is an estimate of the timing of when the cash associated with sales will be received and when

### RESOURCE MANAGEMENT FOR PUBLIC & CHARTER SCHOOLS

RESOURCE MANAGEMENT FOR PUBLIC & CHARTER SCHOOLS BILL BALDRY, CPA MICHIGAN DEPARTMENT OF EDUCATION, SCHOOL NUTRITION PROGRAMS RESOURCE MANAGEMENT REVIEW In Michigan, the Resource Management (RM) review

### The Center for Health Information and Analysis. Adult Day Health Cost Report Directions

The Center for Health Information and Analysis Adult Day Health Cost Report Directions On behalf of the Executive Office of Health and Human Services (EOHHS), t he Center for Health Information and Analysis

### ACCOUNTING 105 CONCEPTS REVIEW

ACCOUNTING 105 CONCEPTS REVIEW A note from the tutors: This handout is designed to help you review important information as you study for your cumulative final exam. While it does cover many important

### COUNTY OF LOS ANGELES - DEPARTMENT OF HEALTH SERVICES ALCOHOL AND DRUG PROGRAM ADMINISTRATION COST REPORT FOR CONTRACTED SERVICES INSTRUCTIONS

COUNTY OF LOS ANGELES - DEPARTMENT OF HEALTH SERVICES ALCOHOL AND DRUG PROGRAM ADMINISTRATION COST REPORT FOR CONTRACTED SERVICES INSTRUCTIONS COST REPORT FOR CONTRACTED SERVICES (SUMMARY PAGE) Complete

### ACCOUNTANT Date: 5/2/2007

JOB DESCRIPTION ACCOUNTANT Date: 5/2/2007 QUALIFICATIONS: 1. Bachelor s Degree in accounting or in business administration with an accounting emphasis preferred 2. Knowledge of governmental fund accounting

### Most economic transactions involve two unrelated entities, although

139-210.ch04rev.qxd 12/2/03 2:57 PM Page 139 CHAPTER4 INTERCOMPANY TRANSACTIONS LEARNING OBJECTIVES After reading this chapter, you should be able to: Understand the different types of intercompany transactions

Table of Contents: Chapter 9 Chapter 9...2 9.1 Cash Management Policy Board... 2 9.2 Cash Receipts... 3 9.2.1 Stock Dividends and Interest... 4 9.2.2 Tax Receipts... 4 9.3 Special Funds Collections...

### ACCOUNTING RECORDS AND SOURCE DOCUMENTATION

ACCOUNTING RECORDS AND SOURCE DOCUMENTATION May 1994 Introduction Criteria for Accounting Documents and Records Accounting Procedures Manual Chart of Accounts Nine Principles Governing Accounting Records

### SPECIAL MILK PROGRAM

SPECIAL MILK PROGRAM 1. What is the Special Milk Program? The Special Milk Program provides milk to children in schools, child care institutions and eligible camps that do not participate in other Federal

### 5 IN THIS CHAPTER. Working Capital and Cash Flow Analysis

Working Capital and Cash Flow Analysis Cash is the most liquid of all assets, so many managers are particularly interested in how much cash is available to a business at any given time. Because the flow

### RULE 2 EFFECTIVE DATE JULY 7, 2013 (REVISED) NEBRASKA DEPARTMENT OF EDUCATION UNIFORM SYSTEM OF ACCOUNTING FOR NEBRASKA PUBLIC SCHOOL DISTRICTS

NEBRASKA DEPARTMENT OF EDUCATION RULE 2 UNIFORM SYSTEM OF ACCOUNTING FOR NEBRASKA PUBLIC SCHOOL DISTRICTS TITLE 92, NEBRASKA ADMINISTRATIVE CODE, EFFECTIVE DATE JULY 7, 2013 (REVISED) State of Nebraska

### STATE OF INDIANA. November 14, 2011. Board of Directors Foster Parent Services, Inc. 3798 W. Co. Road 500 S. Vallonia, IN 47281

` STATE OF INDIANA AN EQUAL OPPORTUNITY EMPLOYER STATE BOARD OF ACCOUNTS 302 WEST WASHINGTON STREET ROOM E418 INDIANAPOLIS, INDIANA 46204-2769 Telephone: (317) 232-2513 Fax: (317) 232-4711 Web Site: www.in.gov/sboa

### Office of Public and Indian Housing, Real Estate Assessment Center. Capital Fund Program Reporting ACCOUNTING BRIEF #15

Office of Public and Indian Housing, Real Estate Assessment Center PIH-REAC: PHA-Finance Accounting Briefs Issued Date: August 2011 Capital Fund Program Reporting ACCOUNTING BRIEF #15 GOVERNING REGULATIONS

### Chapter 19 Fundraising

Chapter 19 Fundraising Fundraising activities are governed by School District Policy 2.16, Fundraising Activities Related to Schools, and the DOE Redbook. The general guidelines for fundraising per the

### How to Use the Cash Flow Template

How to Use the Cash Flow Template When you fill in your cash flow you are trying to predict the timing of cash in and out of your bank account to show the affect and timing for each transaction when it

### AUDIT SUMMARY ONLINE TECHNICAL MANUAL

2014-2015 STATE OF NEW JERSEY DEPARTMENT OF EDUCATION DIVISION OF ADMINISTRATION &FINANCE OFFICE OF SCHOOL FINANCE AUDIT SUMMARY ONLINE TECHNICAL MANUAL TABLE OF CONTENTS PURPOSE.. 3 SUBMISSION DATES..

### In the event of a tie, the score on the last ten questions will be used as a tie-breaker.

NEW YORK STATE ASSOCIATION FUTURE BUSINESS LEADERS OF AMERICA SPRING DISTRICT MEETING ACCOUNTING I 2010 TEST DIRECTIONS 1. Complete the information requested on the answer sheet. PRINT your name on the

Understanding Financial Statements For Your Business Disclaimer The information provided is for informational purposes only, does not constitute legal advice or create an attorney-client relationship,

### Accounting Norms and Principles January 7, 2003

1 Accounting Norms and Principles January 7, 2003 The purpose of an accounting system is to provide credit union management with complete and accurate financial information that can be used to operate

### GRANT RECEIVABLES. A grant expenditure is incurred. A grant revenue is recorded when the check is received. (consider recording a receivable)

FALL ASBO 2011 BALANCE SHEET ACCOUNTS GRANT RECEIVABLES EXPENDITURE A grant expenditure is incurred. REVENUE A grant revenue is recorded when the check is received. (consider recording a receivable) There

### Windsor School Food Service

Windsor School Food Service Date: 08/01/14 To: Parents/Guardians: From: Dana Plant, Director of Food Service RE: School Breakfast/Lunch Program Updates Dear Parents/Guardians of Children attending the

### FLORIDA HIGH SCHOOL FOR ACCELERATED LEARNING - WEST PALM BEACH CAMPUS, INC. d/b/a QUANTUM HIGH SCHOOL

LEARNING - WEST PALM BEACH CAMPUS, INC. Financial Statements with Independent Auditors Reports Thereon June 30, 2015 CONTENTS Page Management s Discussion and Analysis 1 6 Report of Independent Auditors

THE BUSINESS ENTERPRISE CENTRE S GUIDE TO PROJECTING YOUR CASH FLOW The Business Enterprise Centre is a member of Last updated 16 Jan 2015 TD Page 1 of 26 Preface A cash flow statement reports the outflow

### CHAPTER II GENERAL LEDGER ACCOUNTS

CHAPTER II GENERAL LEDGER ACCOUNTS A general ledger is basic to an accounting system. The General Ledger of a fund is a summary record containing the balance of assets, liabilities, deferred revenues,

### Sample Test for entrance into Acct 3110 and Acct 3310

Sample Test for entrance into Acct 3110 and Acct 3310 1. Which of the following financial statements could properly have the following in the date line: For the Year Ended December 31, 2010"? a. Balance

### INSTRUCTIONS FOR COMPLETING BUDGET REQUEST FORM

1. 2. INSTRUCTIONS FOR COMPLETING BUDGET REQUEST FORM In accordance with the requirements of WS 16-4-104 The Department of Audit has modified the Standard Form. Please follow the steps below: a. Download

### REIMBURSEMENT PROCEDURE for FEMA PUBLIC ASSISTANCE

REIMBURSEMENT PROCEDURE for FEMA PUBLIC ASSISTANCE Financial Assistance Availability The impact of major or catastrophic emergencies can exceed local financial resources. Financial aid and assistance may

### USING QUICKBOOKS TO RECORD RESTRICTED TRANSACTIONS

USING QUICKBOOKS TO RECORD RESTRICTED TRANSACTIONS Recording Pledges Pledges are unconditional promises that a donor gives to your organization, which could include a promise for money over a period of

### HOUSE BILL 2587 AN ACT

Senate Engrossed House Bill State of Arizona House of Representatives Fifty-second Legislature First Regular Session 2015 HOUSE BILL 2587 AN ACT AMENDING SECTIONS 35-142 AND 35-315, ARIZONA REVISED STATUTES;

### MANAGING THE MONEY DIRECT FUNDING STANDARD

MANAGING THE MONEY DIRECT FUNDING STANDARD This guide explains the financial procedures for Agents who are managing Direct Funding of more than \$6,000 for an individual during a twelve month period. Recipients

### Using other accounts in QuickBooks

LESSON 5 Using other accounts in QuickBooks 5 Lesson objectives, 136 Supporting materials, 136 Instructor preparation, 136 To start this lesson, 136 Other account types in QuickBooks, 137 Tracking credit

### Basic Bookkeeping. For Small and Home Based Business

Basic Bookkeeping For Small and Home Based Business Benefits of Keeping Records All of your records are kept in one place and can easily be found when necessary. You know who owes you money and how much

### The accounting system and procedures detailed herein are based on IC 20-41-1-1 et seq..

Revised 2010-1-1 CHAPTER 1 SCHOOL EXTRA-CURRICULAR ACCOUNT - OVERVIEW INTRODUCTION The accounting system and procedures detailed herein are based on IC 20-41-1-1 et seq.. Activity or activities as used

### Reg. 1.5833-1 (Effective for tax years beginning on and after January 1, 1998) Allocation and apportionment of Vermont net income by corporations

Reg. 1.5833 ALLOCATION AND APPORTIONMENT OF INCOME Reg. 1.5833-1 (Effective for tax years beginning on and after January 1, 1998) Allocation and apportionment of Vermont net income by corporations (a)

### Web-based Illinois Nutrition System (WINS) Claim Instruction Manual. Illinois State Board of Education Funding & Disbursement Services

Web-based Illinois Nutrition System (WINS) Claim Instruction Manual Illinois State Board of Education Funding & Disbursement Services March 2014 Introduction Applications and claims for the school based

### CHAPTER 7 General Journal Entries

CHAPTER 7 Journal Entries Table of Contents Section Page INTRODUCTION 1 1 GENERAL FUND JOURNAL ENTRIES 2 1 Opening Entry... 1 Budget Entries... 2 Budget Entries Modifications... 2 Revenues Property Tax...

### In the event of a tie, the score on the last ten questions will be used as a tie-breaker.

NEW YORK STATE ASSOCIATION FUTURE BUSINESS LEADERS OF AMERICA SPRING DISTRICT MEETING ACCOUNTING II 2010 TEST DIRECTIONS 1. Complete the information requested on the answer sheet. PRINT your name on the

### NATIONAL FOOD SERVICE MANAGEMENT INSTITUTE THE UNIVERSITY OF MISSISSIPPI

NATIONAL FOOD SERVICE MANAGEMENT INSTITUTE THE UNIVERSITY OF MISSISSIPPI NFSMI F inan c ial M anagement I nformation S yste m 2 n d E d i ti o n Applied Research Division The University of Southern Mississippi

### Basics of accounting Documentation basics Choosing an accounting system Common tax issues Get an advisor!!!

Basics of accounting Documentation basics Choosing an accounting system Common tax issues Get an advisor!!! Money TRANSACTIONS CHART OF ACCTS GENERAL LEDGER BALANCE SHEET INCOME STATEMENT FINANCIAL STATEMENTS

### Financial Statement Guide. A Guide to Local Government Financial Statements

Financial Statement Guide A Guide to Local Government Financial Statements January, 2012 Ministry of Community, Sport and 1 Financial Statement Guide Table of Contents Introduction Legislative Requirements

### Intuit QuickBooks Enterprise Solutions 10.0 Complete List of Reports

Intuit QuickBooks Enterprise Solutions 10.0 Complete List of Reports Intuit QuickBooks Enterprise Solutions, for growing businesses, is the most powerful QuickBooks product. It has the capabilities and

### The University of Georgia Service Center Policy

TABLE OF CONTENTS The University of Georgia Service Center Policy 1. INTRODUCTION... 4 2. SCOPE... 4 2.1. Recharge Activities... 4 2.2. Service Centers... 4 2.3. Specialized Service Centers... 4 3. INTENT....

Mooresville Graded School District Financial Report Year Ended June 30, 2014 TABLE OF CONTENTS Exhibit Page No. Independent Auditors Report... 1 Management s Discussion and Analysis... 4 Basic Financial

### Welcome to this session on the Attendance, Meal Count and Meal Service requirements in the Child and Adult Care Food Program.

Welcome to this session on the Attendance, Meal Count and Meal Service requirements in the Child and Adult Care Food Program. My name is (introduce yourself). [Set up a Post It poster sheet with a parking

### Glossary of Accounting Terms

Glossary of Accounting Terms Account - Something to which transactions are assigned. Accounts in MYOB are in one of eight categories: Asset Liability Equity Income Cost of sales Expense Other income Other

Contents Highlights... 2 Quick Practice Session on Overheads... 2 Financial Quiz 2 - Overheads... 3 Learning Zone Overheads... 3 Fixed and Variable costs and Break-even analysis explained... 3 Fixed Costs...

### Accruals and prepayments

5 Accruals and prepayments this chapter covers... In the last chapter we have looked at the preparation of financial statements or final accounts using the extended trial balance, or spreadsheet, approach.

### C&I LOAN EVALUATION UNDERWRITING GUIDELINES. A Whitepaper

C&I LOAN EVALUATION & UNDERWRITING A Whitepaper C&I Lending Commercial and Industrial, or C&I Lending, has long been a cornerstone product for many successful banking institutions. Also known as working

### Accounting Basics, Part 1

Accounting Basics, Part 1 Accrual, Double-Entry Accounting, Debits & Credits, Chart of Accounts, Journals and, Ledger Part 1 What s Here Introduction Business Types Business Organization Professional Advice

### Month End Protocols Preparation for Monthly Financial Statements

Month End Protocols Preparation for Monthly Financial Statements General Notes for Month / Year End Protocols For Small or Midsized Nonprofit Organizations MONTHLY A good rule of thumb is to print a trial

### In this chapter, we build on the basic knowledge of how businesses

03-Seidman.qxd 5/15/04 11:52 AM Page 41 3 An Introduction to Business Financial Statements In this chapter, we build on the basic knowledge of how businesses are financed by looking at how firms organize

### Glossary of Accounting Terms Peter Baskerville

Glossary of Accounting Terms Peter Baskerville Account for or 'bring to account': An accounting phrase used to describe the recording of a financial transaction that is required under the generally accepted

### Farm Accounting Using QuickBooks

Farm Accounting Using QuickBooks Users Manual Stanley Schraufnagel Jenny Vanderlin TABLE OF CONTENTS Page Introduction and Acknowledgements. i Chapter 1: Accounting Basics 1 Chapter 2: Getting Started.

### FINANCIAL MANAGEMENT GUIDE FOR NON-PROFIT ORGANIZATIONS

FINANCIAL MANAGEMENT GUIDE FOR NON-PROFIT ORGANIZATIONS NATIONAL ENDOWMENT FOR THE ARTS OFFICE OF INSPECTOR GENERAL SEPTEMBER 2008 Questions about this guide may be directed to the National Endowment for

### 1. A set of procedures for controlling cash payments by preparing and approving vouchers before payments are made is known as a voucher system.

Accounting II True/False Indicate whether the sentence or statement is true or false. 1. A set of procedures for controlling cash payments by preparing and approving vouchers before payments are made is

### FINANCIAL MANAGEMENT POLICIES AND PROCEDURES

FINANCIAL MANAGEMENT POLICIES AND PROCEDURES SAMPLE 1. GENERAL PURPOSE The purpose of these policies is to establish guidelines for developing financial goals and objectives, making financial decisions,

### CACFP FINANCIAL MANAGEMENT

5-1 CACFP FINANCIAL MANAGEMENT The Importance of Good Financial Management All required records must be kept at least three years after the end of the Agreement year or one year after the audit of that

### Expense Section No. 700

Expense Section No. 700 Page No. GENERAL RULES FOR RECORDING EXPENSES 1 OPERATING EXPENSES (GL Control Account) 1 Approval Of 1 Entries in the Journal and Cash Record 2 Postings in the General Ledger 2

### FIXED ASSETS 11.1 Chapter 11 FIXED ASSETS

FIXED ASSETS 11.1 Chapter 11 FIXED ASSETS NARRATIVE Fixed assets are tangible and intangible property capable of being owned or controlled to produce value to the owner. They also represent an economic

### GUIDELINES AND STANDARDS FOR COST RECOVERY

GUIDELINES AND STANDARDS FOR COST RECOVERY Comprehensive Collection Program Effective July 1, 2012, Penal Code section 1463.007 under Senate Bill 857 (Stats. 2010, ch. 720), amends the standards by which

### REGULAR PAYROLL ACCOUNTING

REGULAR PAYROLL ACCOUNTING Millersville University uses the Human Resource System (HRS) to handle its payroll process for both regular employees and student employees. The Human Resource Information System

### THE STATE EDUCATION DEPARTMENT Room 475 EBA Office of Educational Management Services Albany, NY 12234 (518) 474-6541

THE STATE EDUCATION DEPARTMENT Room 475 EBA Office of Educational Management Services Albany, NY 12234 (518) 474-6541 Fund Balance - Reservations and Designations The following Reserve Funds are available

### DEPARTMENT OF SOCIAL SERVICES DIVISION OF LICENSING PROGRAMS. BUDGET PLANS FOR OPERATION OF A CHILD DAY CENTER (Model)

DIVISION OF LICENSING PROGRAMS FOR OPERATION OF A CHILD DAY CENTER (Model) A. Start Up Costs Renovation of Property Furniture Equipment Supplies (Initial Stock) Children's Supplies Cleaning and Maintenance

### Publication No. 140 Revised July 2015. Sample Financial Statements. for a Charter School. in North Carolina

Publication No. 140 Revised July 2015 Sample Financial Statements for a Charter School in North Carolina State and Local Government Finance Division North Carolina Department of State Treasurer 35-H-1

### Capital Area Council of Governments FY 2015 Cost Allocation Plan

Capital Area Council of Governments FY 2015 Cost Allocation Plan The Capital Area Council of Governments uses the cost allocation method prescribed in OMB Circular A 87, Department of Health and Human

### Breakeven Analysis. Breakeven for Services.

Dollars and Sense Introduction Your dream is to operate a profitable business and make a good living. Before you open, however, you want some indication that your business will be profitable, if not immediately

### Course Handouts Using the course handouts

Course Handouts Course Handouts Using the course handouts In this section, you ll find copies of handouts for referenced course. The handouts are available for download in Portable Document Format (PDF)