SMART Finance News You Can Use

A FY23 Revenue Projection Model is now available. This model has the correct FY23 levy data, but, most of the aid estimates on the State Aids tab are from FY22. The Whatif will be updated later this spring as new estimates become available. The Revenue Projection Model is available on MDE’s website using this link: https://public.education.mn.gov/MDEAnalytics/DataTopic.jsp?TOPICID=247

If you would like assistance working on next year’s revenue budget, send Stacy, Kameron, or Wayne your FY23 pupil estimates. We will use those pupil estimates to create a revenue budget using the Budget Workpapers in SMART Finance.

If you begin working on the FY23 Budget on your own using the FY23 Revenue Projection model, note the following:

• On the Report tab, make sure the formula amount in cell E11 is 6863. Change it if necessary.
• On the User Inputs tab, enter FY22 IDEAS data on rows 41-60 until FY23 data is available.
• On the GenEd tab, make sure cell F8 is set to ‘From Report Tab’.
• Review the FY23 Compensatory revenue report from MFR on MDE’s web site and update the Basic Skills (finance 317) budget in SMART Finance if the FY23 amount is substantially different from FY22.
• The special ed revenue estimate is from FY22. 

We recommend copying the FY22 revenue budget to FY23 as a starting point.  Zero the one time FY22 Pandemic revenue accounts and add any new FY23 Pandemic Covid funding accounts needed.