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01 September 2020

UFARS Additions for Covid

For FY 21, related to the CARES Act, finance Code 154 will be added for the Coronavirus Relief Funds (CRF) that the state of MN recently requested. Finance Code 174 will be added for the County provided Coronavirus Relief Funds (some counties have passed along their funds to districts). Region 1 is waiting for MDE to officially release these accounts and update the Chapter X UFARS grid. We will let you know when these new dimensions are added to SMART Finance.
For FY20, balance sheet account 258 has been added to record the principal of EIDL and PPP loans that are outstanding and unpaid. These loans are part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act that Congress passed on March 27, 2020 to assist small businesses and non-profit entities. The loans were available through the Small Business Administration (SBA). 


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SMART Systems is owned, developed and supported by Regions I, II, III, IV and V, serving Minnesota school districts and other education related service agencies for more than 35 years