SMART Finance Related News
Recent legislation allows districts to be reimbursed for ‘between term’ unemployment. New UFARS object code 281 has been added to Chapter X. You will want to code ‘between term’ unemployment to this new object with a Finance dimension of 000. Do not code the new unemployment to special ed (finance 740) or any other restricted area. You may use a generic program number like 790. For now, code all ‘between term’ unemployment to fund 01…not fund 02 or 04. This is 100% reimbursed through State aid until the State Aid is exhausted. Regular unemployment should be handled the same way as in the past using object 280. This new law took effect May 28 of FY23. When you get your quarterly billing after July 1, you should make a JE in FY23 using object 281 for the amount that belongs in the FY23 fiscal year. This will be reimbursed sometime in FY24. MDE will be updating instructions for new ‘between term’ unemployment in the near future. Contact Region 1 with questions or help posting necessary journal entries.