SMART Finance News You Can Use

SMART Finance Related News

Archive by author: Amanda KadrmasReturn

May 2020

04 May 2020

New FY20 Fund Balance Transfer Rules

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. ...

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August 2019

02 August 2019

Finding Negative Expenditures

To find negative expenditures (which MDE doesn’t like when we send UFARS data), here is a short cut:Go to Account Analysis and enter Periods 201901 to 201913, enter an E in the L column and click Find. Once the screen is populated, click on the End Balance heading. All negative expenses will appear at the top of your screen. Click Reset to switch back to Account Code order.

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September 2018

07 September 2018

Using Summary Screens and Account Analysis

Functionality has been added to summary screens and Account Analysis. You can click on any column heading item and change the sort order of the screen. For example, if you are using the Voucher Summary screen below, clicking on the Vendor Name column heading will sort the vendors in alphabetic order. If you want to go back to the original voucher number order, click the Reset button. You can also click and drag any column heading to different locations on the screen. ...

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August 2018

03 August 2018

Finding Negative Expenditures

To find negative expenditures (which MDE doesn’t like when we send UFARS data), here is a short cut. Go to Account Analysis and enter Periods 201801 to 201813, enter an E in the L column and click Find. Once the screen is populated, click on the End Balance column. All negative expenses will appear at the top of your screen. Click Reset to switch back to Account Code order.

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March 2018

06 March 2018

Requisition Users...

If your district only uses Online Ordering (like Express), we can eliminate the menu item ‘Order Requisition Entry’ to make in less confusing for your employees. Or, if your district never uses an Online Vendor, we can eliminate ‘Ordering’ from the menu. Contact Stacy if you would like this change or have questions.

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06 March 2018

Revenue Budgeting for FY19

The new FY 2019 Revenue Projection Model is now available on MDE’s website. http://w20.education.state.mn.us/MDEAnalytics/DataTopic.jsp?TOPICID=247. If you would like assistance working on next year’s revenue budget, send Stacy or Wayne your FY19 pupil estimates. We will use those pupil estimates to create a revenue budget using the Budget Workpapers in SMART Finance.If you are working with the FY 2019 Revenue Projection Model, note the following: On the User Inputs tab, ...

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February 2018

06 February 2018

House Cleaning Accounts

Do you have some accounts that haven’t been used for a few years and are no longer needed? Follow these steps to get a list of unused accounts: Run the Budget Workpapers including both types E and R Extract to Excel In Excel, sort the spreadsheet by all the columns that have dollar amounts to view accounts without activity Delete all accounts that you want to keep. Save the spreadsheet Send the spreadsheet to Region 1 and we will shut off the accountsOr, ask someone in finance at Reg...

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06 February 2018

Basic Skills Extended Time

If you are using MDE’s latest 2018 Revenue Project Model, a new finance dimension of 309 has been added for Basic Skills Extended Time. If there is money in this category on the Revenue Summary, you will need to show expenses and revenue using finance 309. If you plan to spend the revenue in the current year (which Region 1 would recommend) a closing account of 422 can be used.

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