SMART Finance News You Can Use

If you are entering fixed assets for FY21, don’t forget to change the FA Fiscal Yr to 2021 by clicking on the drop down arrow. 

Beginning July 1st, districts are required to comply with the new accounting rules for leases. You can find these new accounting instructions starting on the bottom of page 13 of our yearend book, or in MDE’s School Business Bulletin #68. Click on this link to access MDE’s School Business Bulletins Financial Management (mn.gov). 

Region 1 has updated the FY22 UFARS dimensions and Chapter X grids with the new reporting requirements. You can now build accounts with a Start Date of 202201. Each district will need to build any new UFARS segment dimensions in Account Segment Setup before building the new accounts.

A revised FY22 Revenue Projection Model is available on MDE’s website that is using a new FY22 Whatif incorporated in the Report tab.  Use this this link to get the new FY22 Revenue Projection Model: https://public.education.mn.gov/MDEAnalytics/DataTopic.jsp?TOPICID=247The Whatif will be updated later this spring after the legislature makes any funding changes.  If you would like assistance working on next year’s revenue budget, send Stacy, Kameron, or Wayne your FY22 pupil...