SMART Finance News You Can Use

SMART Finance Related News

September 2021

September 15th Initial UFARS Reporting Deadline

Just a reminder that your district is required to send initial UFARS data to MDE by September 15th. It takes several hours for Region 1 to review/prepare each district for closing and sending data. Please don’t wait until the last minute.
[+] Read More
August 2021

Federal Pandemic Relief Funds

MDE has created a resource for explaining the various pandemic grants, priorities for each fund, Finance code information and accounting procedures. Visit this link to see various documents, including a helpful flow chart.  Federal Relief Funds (
[+] Read More

Fixed Assets for FY21

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. 
[+] Read More

Default Images

There was a change in our software for the default images for Invoices and PO’s. This is for the districts that have separate logos or signatures attached. We instructed everyone to change the image when you sign into SmartFin each day, but you have to do it every time you sign in.We have done an update to the software that will allow us to permanently set a default by user for these so that you won't have to change it every time you sign in. If you would like us to set this up fo...
[+] Read More

Emergency Connectivity Funds

If a school district or charter school decides to apply and receives funds from the Emergency Connectivity Fund, the appropriate code is Finance Code 599 to record the revenue and expenditures. Use source 500 with the revenue account
[+] Read More
July 2021

Sorting Summary Screens

More flexibility has been added to sorting Summary Screens.  After data is retrieved on a Summary Screen, click on the Sort icon on the menu bar.For instructions, click on the "?". See below.
[+] Read More

Federal Pandemic Grant Flowchart

MDE has created a resource for explaining the various pandemic grants, priorities for each fund, and Finance code information. Click on the link to get the latest version. Federal COVID-19 Funding Flowchart
[+] Read More

New Accounting Requirement for Leases

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 ( 
[+] Read More

UFARS Codes and Chapter X for FY22

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.
[+] Read More
June 2021

Getting Ready for the Audit

Now would be a good time to take a look at the State and Federal receivable accounts in all funds. These accounts should have a zero balance. If there is a balance any of these accounts (B XX-121-XXX, B XX-122-XXX, and B XX-123-XXX), take a look at the entry in period 202013 that created the receivable and reverse it (or part of it). Contact Stacy, Kameron, or Wayne if you would like assistance.
[+] Read More
Page 5 of 9 First 34[5]67 Last
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