SMART Finance News You Can Use

Because of the expenses incurred with COVID-19, transfers between certain fund balances are being allowed for FY20 only.  Now would be a good time to review all fund balances and determine if there is an excess in restricted areas where transfers are now being allowed.  It would be to your benefit to transfer funds that will improve the unrestricted fund balance in 01-422-000.  Improving the unrestricted fund balance will give districts more flexibility for future spending.  Go to this link to see the new fund transfer guidance.  https://education.mn.gov/MDE/dse/schfin/fin/