SMART Finance News You Can Use

When the FY24 Revenue Projection Model becomes available, go to MDE’s website using this link to download a copy: https://public.education.mn.gov/MDEAnalytics/DataTopic.jsp?TOPICID=247.If you would like assistance working on next year’s revenue budget, send Stacy, Melissa, or Anthony your FY24 pupil estimates.  We will use those pupil estimates to create a revenue budget using the Budget Workpapers in SMART Finance. If you begin working on the FY24 Budget note the following: On ...

If you need a new Student Activity Account, you could recycle an old account that is not being used. Just change the descriptions in the Account Code setup window and Account Classification window. This is much easier than building new accounts, account classifications and fund balances. 

We will be emailing 1099 instructions in the beginning of December.  All 1099s must be e-filed by 01/31/2023! **This leaves little time for corrections without jumping through hoops to e-file correcting 1099s. Initial accuracy is at a premium.**In preparation, please review your initial 1099 balances by going to Accounts Payable > Vendor Setup > Vendor 1099 Balance.  Enter 2022 in the Year column and click Find. 

Just a reminder that the UFARS reporting deadline is November 30th. Remember to check the Turn Around Reports on MDE’s website.  From the October Newsletter: After Region 1 submits your UFARS data to the State, it’s time to review and correct UFARS reporting errors. To see if you have UFARS compliance errors, go to the MDE MFR web site https://public.education.mn.gov/MDEAnalytics/DataTopic.jsp?TOPICID=9 Also, anytime you post journal entries for last yea...