SMART Finance News You Can Use

With the enrollment fluctuations and unexpected Covid revenue, now might be a good time to review both revenue and expenditure budgets for FY22.  On the revenue side, note the following: Compare your current enrollment with the enrollment used to prepare the original budget. If there are material differences, use MDE’s revenue projection model to review/change the revenue budget.  Review/update the Covid grant accounts with latest revenue estimates. (Make sure you have expen...

If you need a new Student Activity Account, you could recycle an old account that is not being used. Just change the descriptions in the Account Code setup window.  This is much easier than building new accounts, account classifications and fund balances.

Now would be a good time to update your FY22 Revenue Budget.  If you would like Region 1 assistance, please send us your latest FY22 enrollment and we will use the Budget Workpapers in SMART Finance to prepare a revised budget for your review. There is a new FY22 Revenue Projection Model on MDE’s website at this link.  Data Reports and Analytics (mn.gov).  See the example below. 

MDE informed Region 1 about a problem with the UFARS/SERVS Budget Comparison report. This report may not match the budget that was entered and approved. See the example below. MDE is not sure when this report will be fixed.  When reconciling federal programs, use the SERVS Manage Applications & Budgets window. In the past, Region 1 has assisted our districts with the UFARS/SERVS reconciliation to avoid losing funding.  If you would like our assistance for FY21, ...