SMART Finance News You Can Use

SMART Finance Related News

July 2024

UFARS Unaudited Data Submission

You will need to send your first “unaudited” data to MDE by September 15th (since this year it falls on a weekend you will have until Monday, September 16th).  Region 1 goes through an extensive checklist before we submit your data, so please plan to give us plenty of time for this. 
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Accounting Calendar...Did You Know?

Two extra Periods are built into the Accounting Calendar. Once period 202412 is open, the next period number for FY24 is 202413. It can be used for fiscal yearend journal entries including auditor’s adjustments. The last period for FY24 is 202414. It is for Region 1 use only. We use this period to do closing entries. Closing entries zero the expense and revenues and move the dollars to the fund balances. Note that for periods 202413 and 202414, the G...
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MDE School Business Bulletin #74

MDE has published the School Business Bulletin #74 with the latest information from the State on FY24 and what is coming in FY25. Find it here: 
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June 2024

Reminder: Complete Career and Technical Education Levy Revenue Reporting by June 6th

Read the April 27 memorandum regarding Career and Technical Education (CTE) Levy Reporting from Assistant Commissioner Angela Mansfield, Office of Educational Opportunity, and Sally Reynolds, Director of the Career and College Success Division. The CTE Levy reporting system will open May 2 for entering the anticipated FY25 (2024-2025 school year) budgets. Budgets must be entered for approved CTE programs by June 6.Minnesota Statutes, section 124D.4531, directs the Minnesota Department of Ed...
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May 2024

COVID Grant Coding

Below is a chart showing the related Course codes by fiscal year to be used for various Covid Federal grants. This chart is revised from MDE’s website with the Finance and Course numbers in each column. Covid Grants administered though SERVS must have the correct Course number. Before yearend, you can work on making sure your accounts are using the correct Course numbers. This will be discussed at our yearend meetings.  
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Using SMART Windows to Search for Data

Did you know that you can search for data using multiple fields on more than one line? This functionality works in all search windows (Account Analysis, Voucher Detail Summary, Payment Detail Summary, Invoice Detail Summary, Receipt Detail Summary, etc…). Enter a portion of the data you wish to pull and then click the “Find/Retrieve” icon. Need to start over? Just click the “Query” icon and update as needed 
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Chapter 10 Errors

Now would be a good time to address any Chapter 10 errors you may have. Region1 has reached out to those who have errors so if you did hear from us and need assistance, please reach out. We will not be able to submit your data to MDE without corrections. 
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April 2024

COVID Grants and Course Numbers

As districts receive COVID funds, make sure the correct course number identifying fiscal year is used. Go to MDE’s web site and to see the latest flow chart for COVID accounts. Federal Relief Funds ( 
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Entering Requisitions for Next Year (FY24-25)

If your district wants to create requisitions for FY24-25 in SMARTeR, the Accounting Calendar in SMART Finance needs to be opened through July (open the GL in both 202413 & 202414).To create a requisition for FY24-25, enter 07/01/2024 in the Date required field of the requisition entry screen.  This will change the GL period to 202401 on the detail lines of the requisition (Note:  Depending on the security level, the person entering the requisition may not see the GL Peri...
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Purchase Orders for FY24-25

As you get ready to enter POs for next year, all the Periods on the Accounting Calendar need to be open through 202501.  For Periods 202413 and 202414, open GL only. Contact someone in finance if you need help with this. Once period 202501 is open, POs can be saved for the next fiscal year. 
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