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31 October 2023

Accounting for Compensatory Revenue...New Rules

FY23 legislation requires at least 80% of Compensator Revenue (Basic Skills and English Learner) be spent by site. At some point we expect MDE will ask for verification. You can track site spending with a spreadsheet, or, use Smart Finance. If you use SMART Finance, Region 1 recommends having a revenue account for each site and allowable expenditures for each site. We would be happy to help you build the necessary accounts.

See the screen displays below that show you where to get Compensatory Revenue by site. In this example, if you want to use SMART Finance, we recommend a revenue account for each site (using the ORG number) and an additional account using ORG 005 for district wide if you are not going to spend 100% at each site. At year end, best practice would be to have expenses equal (or slightly greater than) revenue by site.



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