reglab/statecodes huggingface dataset:
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.2 - Clearing Accounts › Rule 10.10.206 - INSUFFICIENT CASH AVAILABLE

Current through Register Vol. 13, July 5, 2024
(1) If the sum
				of the cash available in all funds of the district is insufficient to finance
				the transfers to the clearing accounts, a warrant must be issued from the
				depleted budgeted fund(s) for transfer to the clearing accounts. This transfer
				warrant must be registered by the county treasurer as outlined in
				20-9-212,
				MCA.
(2) As an alternative, the
				district may temporarily abandon use of the clearing accounts, draw warrants
				against each fund, and register warrants as provided in
				20-9-212,
				MCA. School districts may also issue revenue anticipation notes through the
				Economic Development Board of the Department of Commerce to provide temporary
				financing to pay warrants issued against budgeted funds. In addition,
				7-6-2701,
				MCA, allows counties to invest in the registered warrants of school
				districts.
20-9-102,
					 20-9-201,
					 20-9-220, MCA;
					 IMP,
					 20-9-102,
					 20-9-201,
					 20-9-220,
					 MCA;
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.2 - Clearing Accounts › Rule 10.10.207 - TRANSFERS-NONBUDGETED FUNDS

Current through Register Vol. 13, July 5, 2024
(1) Transfers to
				clearing accounts and warrants issued cannot be made from nonbudgeted funds in
				excess of the cash available. Cash available shall include cash on hand and
				receivables to be collected within 30 days.
20-9-102,
					 20-9-201,
					 MCA; IMP,
					 20-9-102,
					 20-9-201,
					 20-9-210,
					 20-9-220,
					 MCA;
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.2 - Clearing Accounts › Rule 10.10.208 - VOIDED WARRANTS

Current through Register Vol. 13, July 5, 2024
(1) If a warrant is
				subsequently voided, the warrant must be deleted from the payroll or claim
				account's outstanding warrant list and the cash returned to the fund(s) which
				had originally transferred the money.
(a) If
				the voided warrant was issued against the current year's budget, the
				appropriate expenditure account(s) should be reduced by the amount of the
				voided warrant.
(b) If the voided
				warrant was issued against a prior year's budget, the appropriate revenue
				account as provided in the School Accounting Manual should be increased by the
				amount of the voided warrant.
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.2 - Clearing Accounts › Rule 10.10.209 - INTEREST EARNED

Current through Register Vol. 13, July 5, 2024
(1) Interest
				revenue shall not be recorded in payroll and claims clearing
				accounts.
(2) Interest earned on
				the investment of money in payroll and claims clearing accounts shall be added
				to the regular interest earnings for distribution to the various
				funds.
20-9-102,
					 20-9-201,
					 20-9-220, MCA;
					 IMP,
					 20-9-102,
					 20-9-201,
					 20-9-220,
					 MCA;
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.301 - CALCULATING TUITION RATES

Current through Register Vol. 13, July 5, 2024
(1) The maximum
				regular education tuition rate a district may charge per student is 20% of the
				per ANB rate established in
				20-9-306(15),
				MCA, for the first ANB for the year of attendance. For a kindergarten student
				enrolled in a half-time program as provided in
				20-1-301(2)(a),
				MCA, and a preschool child with disabilities the rate is one-half the rate for
				an elementary student.
(2) Pursuant
				to
				20-5-323,
				MCA, the maximum tuition rate for a student without disabilities who has been
				placed outside their resident district by a state agency or court may exceed
				the regular tuition rate calculated in (1) if:
(a) the student has unique needs that require
				a district to provide a program specifically designed to meet those needs; and
(b) the costs of the program can
				be documented and exceed the receiving school district's average general fund
				budget per budgeted ANB in the year preceding the year of attendance.
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.301A - DEFINITIONS (REPEALED)

Current through Register Vol. 13, July 5, 2024
20-9-102,
					 MCA; IMP,
					 20-9-102,
					 MCA;
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.301B - OUT-OF-DISTRICT ATTENDANCE AGREEMENTS

Current through Register Vol. 13, July 5, 2024
(1) For purposes of
				this rule:
(a) a child's guardian means an
				adult who is responsible for the child and has the reciprocal rights, duties
				and responsibilities with the child and whose status is created and defined by
				law;
(b) placement by a court of
				competent jurisdiction includes federal and state district courts, tribal
				courts, and youth courts established pursuant to Title 41, chapter 5, MCA;
				and
(c) for the purpose of this
				rule placement by a "state agency" includes placement by tribal agencies, the
				Department of Corrections or the Department of Public Health and Human
				Services. Placement by a state agency does not include placement by a private
				or not-for-profit entity under contract with the Department of Corrections or
				the Department of Public Health and Human Services.
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.301C - OUT-OF-STATE ATTENDANCE AGREEMENTS

Current through Register Vol. 13, July 5, 2024
(1) The
				Superintendent of Public Instruction is authorized to establish reciprocal
				agreements for out-of-state attendance with border states or provinces. The
				tuition charge for a Montana student attending school in a state or province
				with a reciprocal agreement is governed by the conditions of the reciprocal
				agreement.
(2) The amount of
				tuition paid by a Montana district for a student without disabilities who
				attends school in a state or province not governed by a reciprocal tuition
				agreement cannot exceed the annual average cost per student in the student's
				district of residence. If the tuition rate charged by the receiving district is
				less than the Montana district's annual average cost per student, the tuition
				payment may not exceed the lesser of the two amounts.
(3) Districts may agree to pay tuition
				charges that are less than the maximum allowed rates.
(4) Provided it is in an operating status, a
				school district that is responsible for paying tuition charges for a resident
				student who attends an out-of-state public school may receive reimbursement for
				the amount of tuition paid, up to the state's portion of the per ANB
				entitlement per student for the year of attendance.
(a) Calculations will be based on the tuition
				reports submitted in accordance with ARM
				10.10.301D.
(b) The Superintendent of Public Instruction
				shall provide payment of the amount calculated in (4)(a), but not more than the
				amount of tuition paid by the district for resident students who attended
				school out-of-state, in the year the out-of-district attendance report is
				submitted, provided it is submitted, with documentation of payment, to the
				Superintendent of Public Instruction by December 31 following the school year
				of attendance.
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.301D - TUITION REPORT

Current through Register Vol. 13, July 5, 2024
(1) Following the
				close of each fiscal year, the trustees of a district shall provide an
				out-of-district attendance report to the Superintendent of Public Instruction.
				That report shall be in a format prescribed by the Superintendent of Public
				Instruction and shall list, for the most recent school year:
(a) resident students who attended a public
				school out-of-state for which the district is responsible for payment of the
				tuition charges; and
(b) resident
				students attending day treatment programs under approved individualized
				education programs at private nonsectarian schools in the previous school year.
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.302 - PAYMENT AND CLOSING OF PRIOR YEAR ACCRUED EXPENDITURES AND ENCUMBRANCES

Current through Register Vol. 13, July 5, 2024
(1) A list showing the detail and total
				amount of accrued expenditures and encumbrances reported by fund shall be
				retained by the district for audit purposes.
(2) All accrued expenditures and
				encumbrances, except contracts for construction, for the prior year must be
				closed by the district before June 30th of the current year.
20-9-102,
					 20-9-201,
					 MCA; IMP,
					 20-5-320,
					 20-5-321,
					 20-5-323,
					 20-9-102,
					 20-9-201,
					 20-9-209,
					 MCA;
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.303 - COST ALLOCATIONS BETWEEN DISTRICTS

Current through Register Vol. 13, July 5, 2024
(1)
				In the event certain shared costs, such as administrative costs, curriculum
				coordinator salaries, school psychologist salaries, etc., cannot reasonably be
				identified directly to either the elementary district or the high school
				district or between funds within a district, the school district administration
				shall prepare a cost allocation plan for approval by the board of trustees
				prior to adoption of the final budget. The cost allocation plan should
				reasonably distribute such costs between districts and funds within a district,
				consistently from year to year. Shared costs shall be budgeted and accounted
				for in accordance with the cost allocation plan approved by the board of
				trustees.
(2) The following
				allocation bases shall be used to allocate shared costs:
(a) ANB or enrollment per district;
(b) full time equivalent (FTE) staff per
				district;
(c) FTE teaching staff
				per district;
(d) floor space
				occupied or space occupied over time per district;
(e) miles driven, student miles driven,
				driver hours per district;
(f)
				students served per district;
(g)
				taxable valuation per district; or
(h) time spent providing services.
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.304 - STUDENT EXTRACURRICULAR ACTIVITY FUNDS

Current through Register Vol. 13, July 5, 2024
(1) School
				districts maintaining student extracurricular activity funds may use a separate
				checking account or the county treasurer as a depository for student funds.
(2) To allow the Superintendent of
				Public Instruction to comply with reporting requirements by the National Center
				for Education Statistics of the U.S. Department of Education, school districts
				shall report all the financial activity relating to student extracurricular
				activity funds on the trustees' financial summary provided by the
				Superintendent of Public Instruction.
(3) The student extracurricular fund must not
				be used as a petty cash fund for district expenditures.
(4) Cash balances in the student
				extracurricular fund may not be loaned to other district funds, may not be used
				to finance district expenditures for purposes other than student
				extracurricular activities, and may not be used as a convenience to pay the
				district's liabilities pending reimbursement from the appropriate district
				fund, except when student extracurricular expenditures are subsidized by the
				general fund.
(5) Excess money in
				the student extracurricular activity fund may be invested in accordance with
				20-9-213(4),
				MCA. Interest earned may either be credited to a general operating account
				within the fund to be used to offset administrative costs or distributed to the
				accounts within the fund based on cash balances.
(6) Student extracurricular expenditures
				subsidized by the district general fund may be paid from the student
				extracurricular fund and later reimbursed from the general fund. The claim
				against the general fund must be properly authorized, completely documented and
				easily traced into the extracurricular fund records. For example, meal and
				motel costs for students and advisors may be paid from the student
				extracurricular fund and later reimbursed from the general fund upon filing a
				properly authorized claim.
AUTH:
					 20-9-102,
					 20-9-201,
					 MCA; IMP:
					 20-9-102,
					 20-9-201,
					 20-9-504,
					 MCA
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.305 - BUDGET AUTHORITY FOR CORRECTION OF PRIOR PERIOD EXPENDITURE ERRORS

Current through Register Vol. 13, July 5, 2024
(1) Transactions recorded to correct
				expenditures reported in a prior year shall be charged against the current
				year's budget as provided in
				20-9-209(2),
				MCA.
(2) As provided in
				20-9-208(1),
				MCA, a budget transfer may be made from other appropriation item(s) to provide
				budget authority for corrections of prior period expenditure errors which
				result in a net reduction to beginning fund balance. Prior period adjustment
				must be within the total budget limit imposed by
				20-9-133,
				MCA.
20-9-102,
					 20-9-201,
					 MCA; IMP,
					 20-9-102,
					 20-9-201,
					 MCA;
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.306 - BANK ACCOUNTS OR OTHER DEPOSITORIES

Current through Register Vol. 13, July 5, 2024
(1) As
				provided by
				20-9-212
				and
				20-9-504,
				MCA, the county treasurer is the custodian and depository of all school
				district monies except student extracurricular funds. Other bank accounts or
				depositories outside the control of the county treasurer shall be limited to:
(a) accounts with the state Board of
				Investments or investment firms maintaining a unified investment program in
				accordance with ARM
				10.10.625;
(b) petty cash accounts;
(c) interim depository accounts for school
				lunch or driver's education fees;
(d) money held by the district in investment
				accounts established under
				20-9-235,
				MCA; and
(e) gifts or endowments if
				such accounts are required by the donor.
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.307 - REPLACEMENT WARRANTS AND CHECKS

Current through Register Vol. 13, July 5, 2024
(1) When a
				replacement warrant is issued to replace a lost warrant as provided in
				7-7-2104,
				MCA, or a canceled warrant as provided in
				20-9-223,
				MCA, the following rules shall apply:
(a) The
				original warrant shall be removed from the unpaid outstanding warrant
				list.
(b) The word "duplicate" and
				phrase "replacement warrant for warrant no." shall be plainly printed across
				the face of the warrant.
(c) The
				school district shall send the county treasurer a letter, including the
				original indemnity bond if required, stating which warrant number has been lost
				or canceled and which warrant number has been issued to replace the lost or
				canceled warrant.
(d) The amount of
				the replacement warrant shall be shown on the list of warrants issued for the
				month but shall not be included in the total of the warrants issued or in the
				amounts transferred to the clearing accounts.
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.308 - COUNTY INVESTMENT OF SCHOOL DISTRICT FUNDS

Current through Register Vol. 13, July 5, 2024
(TRANSFERRED)
20-9-102,
					 MCA; IMP,
					 20-9-212,
					 20-9-213,
					 MCA;
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.309 - DISTRIBUTION AND REAPPROPRIATION OF COUNTYWIDE FUNDS

Current through Register Vol. 13, July 5, 2024
(1) The county superintendent of schools
				shall distribute the cash balance in the countywide retirement fund to district
				and cooperative funds on a monthly basis in the proportion each district's or
				cooperative's net requirement bears to the total of all net district and
				cooperative requirements. Net requirement is defined as the total district or
				cooperative retirement budget less estimated revenues.
(2) The cash balance in the county
				transportation fund must be distributed as provided in
				20-10-146,
				MCA.
(3) The cash balance in the
				elementary and high school countywide retirement and transportation funds at
				fiscal year end must be reappropriated in the following fiscal year once
				distributions to school districts for the current and prior years are 100% of
				the total net district requirements.
20-9-102,
					 MCA; IMP,
					 20-9-213,
					 MCA;
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.310 - UNOBLIGATED TUITION MONEY IN THE MISCELLANEOUS PROGRAMS FUND

Current through Register Vol. 13, July 5, 2024
(1) If, for any given year, tuition money
				deposited in the miscellaneous programs fund under
				20-5-324,
				MCA, remains unobligated at year end, the money shall be transferred to the
				general fund prior to closing of the accounts for that fiscal year.
(2) In accordance with generally accepted
				accounting principles, transfers due to the general fund are to be accrued by
				June 30 in the district's accounting records as operating transfers. The actual
				cash transfer to the general fund shall be made before September 30 of the next
				fiscal year.
20-9-102,
					 MCA; IMP,
					 20-5-324,
					 20-9-321,
					 20-9-507,
					 MCA;
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.311 - BUS DEPRECIATION RESERVE FUND

Current through Register Vol. 13, July 5, 2024
(1) Section
				20-10-147,
				MCA, allows school districts to budget each year in a bus depreciation reserve
				fund an amount that does not exceed 20% of the original cost of a bus,
				communication system, or safety devices installed on the bus. The amount
				budgeted may not, over time, exceed 150% of the original cost of the bus,
				communication system, or safety devices.
(2) Annual depreciation may not exceed 20% of
				the bus, communication system, or safety devices' original cost.
(3) The cost of new parts added after the
				original purchase of a bus, communication system, or safety devices may not be
				depreciated.
(4) The bus
				depreciation reserve fund shall not be used to depreciate or replace motor
				vehicles designed to carry ten or fewer persons.
(5) The bus depreciation reserve fund may be
				used to depreciate and replace "over-the-road" coaches used for student
				activities and athletics.
(6) The
				trustees of a district may use the bus depreciation reserve fund to replace or
				purchase an additional school bus as defined in
				20-10-101(4)
				(a) , MCA. Additional buses that do not meet
				the definition of a school bus in
				20-10-101(4)
				(a) , MCA, and that result in expansion of
				the district's fleet must be purchased from the general, transportation,
				student activity, or other fund as allowed by law.
AUTH:
					 20-9-102,
					 MCA; IIMP:
					 20-10-147,
					 MCA
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.312 - COMPENSATED ABSENCE LIABILITY FUND

Current through Register Vol. 13, July 5, 2024
(1) If
				the ending fund balance in the compensated absence liability fund (CALF) on
				June 30 exceeds 30% of the maximum liability on June 30 as defined in
				20-9-512,
				MCA, the excess balance shall be transferred back to the general
				fund.
(2) In accordance with
				generally accepted accounting principles, transfers due to/from the CALF are to
				be accrued prior to year's end in the district's accounting records as
				operating transfers. The actual cash transfer to/from the CALF shall be made
				before September 30th of the next fiscal year.
20-9-102,
					 MCA; IMP,
					 20-9-512,
					 MCA;
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.313 - BUILDING RESERVE FUND

Current through Register Vol. 13, July 5, 2024
(1) Expenditures
				from the building reserve fund established under
				20-9-503,
				MCA, are limited to the cash balance available in the fund.
(2) Short-term interfund loans from a
				district's other funds may be used to fund expenditures in advance of tax
				collections in the building reserve fund. Such interfund loans must be repaid
				by year-end. Short-term interfund loans between school districts shall not be
				made.
(3) Proceeds of a loan to be
				repaid from the building reserve fund established under
				20-9-503,
				MCA, must be deposited in the building reserve fund.
20-9-102,
					 MCA; IMP,
					 20-9-503,
					 MCA;
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.314 - INTERNAL SERVICE, ENTERPRISE, AND AGENCY FUNDS

Current through Register Vol. 13, July 5, 2024
(1) School districts may establish an
				internal service, enterprise, or agency fund if the intended purpose for which
				such fund will be used is approved by the Superintendent of Public Instruction.
				These funds shall be operated and accounted for as nonbudgeted funds.
(2) If the purpose for which a district
				intends to establish one of these funds is approved, the Superintendent of
				Public Instruction will provide the district guidance on the application of
				generally accepted accounting principles to that type of fund. If a district
				fails to comply with generally accepted accounting principles or with
				accounting policies established by the Superintendent of Public Instruction,
				the Superintendent may rescind approval to use the fund.
(3) Working capital needed to begin
				operations of an internal service fund may be derived from contributions of
				noncash assets from other funds or an interfund loan from the general fund.
				Interfund loans must be repaid before the end of the fiscal year.
(4) The intended purpose of an internal
				service fund is to provide services within a district and to be self-supporting
				without accumulating a profit. For example, a district's centralized purchasing
				operation may be accounted for in an internal service fund. Total costs of the
				services being provided, such as the costs of supplies, operation and
				maintenance of machinery, salaries and benefits for personnel responsible for
				providing the services, etc., should be recouped through user charges.
(a) The fund balance of an internal service
				fund must be kept within a range sufficient to maintain the operation without
				accumulating excess resources. If the balance becomes too high, charges to the
				funds receiving the services should be reduced. Excess balances in an internal
				service fund are not available for other purposes and must not be transferred
				to other funds.
(b) Charges must be
				made to all funds that receive services. Charges to the user funds must be
				reasonably determined and must be paid within the budgets of the user funds in
				the year services were provided. Expenditures charged to the user funds must be
				supported by invoices. Charges must be supported by documentation of actual
				usage.
(c) Services provided to
				users outside the district should be occasional in nature and the cost of such
				services must not be charged to district funds. Instead, such costs must be
				charged to those outside users and their payments recorded as revenue in the
				internal service fund.
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.315 - LITIGATION RESERVE FUND

Current through Register Vol. 13, July 5, 2024
(1) The board of
				trustees may establish a litigation reserve fund when litigation is pending.
				Pending litigation is defined as any type of contested hearing that could
				result in a judgment with adverse fiscal consequences against the school
				district. Such proceedings may include but are not limited to actions heard by
				a county superintendent, the state Superintendent of Public Instruction, the
				Montana Human Rights Commission, a district court, the Montana Supreme Court,
				the Equal Opportunity Commission, Fair Labor Standard Boards, etc.
(2) The litigation reserve fund may be used
				to pay awards or judgments, including costs if so ordered in the judgment. This
				fund may also be used to pay settlements agreed upon before a judgment is
				rendered, back wages including benefits, and civil penalties.
(3) The litigation reserve fund shall not be
				used to pay costs of attorney fees, witness fees, travel, copies, telephone,
				transcripts, etc.
(4) When the
				litigation ends, any remaining fund balance in the litigation reserve fund
				shall be immediately transferred back to the general fund.
(5) In accordance with generally accepted
				accounting principles, transfers due to or from the litigation reserve fund
				must be accrued prior to year's end in the district's accounting records as
				operating transfers. The actual cash transfer to or from the litigation reserve
				fund shall be made before September 30th of the next fiscal year.
20-9-102,
					 MCA; IMP,
					 20-9-515,
					 MCA;
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.316 - DISTRICT RETIREMENT FUND

Current through Register Vol. 13, July 5, 2024
(1) School
				districts will report retirement fund expenditures on the trustees' financial
				summary either by:
(a) reporting expenditures
				distributed to all expenditure programs and functions used in payroll;
				or
(b) reporting resources
				transferred to a special education cooperative for nonfederal employee benefits
				and a single, undistributed total for the remaining retirement fund
				expenditures.
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.317 - INVESTMENT POOLS (TRANSFERRED)

Current through Register Vol. 13, July 5, 2024
20-9-102,
					 20-9-201;
					 MCA; IMP,
					 20-9-212,
					 MCA;
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.318 - SCHOOL FLEXIBILITY PAYMENT

Current through Register Vol. 13, July 5, 2024
(1) For
				purposes of calculating a district's school flexibility payment for fiscal year
				20XX, the following definitions apply:
(a)
				"Average student amount" means the amount calculated by:
(i) multiplying either the cash balance or
				the fiscal year 20XX appropriation in the school flexibility account, whichever
				is less, by 40 percent; and
(ii)
				dividing by average statewide budgeted ANB for the previous five-year period.
				Average statewide budgeted ANB is calculated using the final ANB for fiscal
				years 20XX-5 through 20XX-1.
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.319 - CLOSURE OF A SCHOOL DISTRICT FUND

Current through Register Vol. 13, July 5, 2024
(1) Trustees may
				not close a fund into a fund of another school district. An elementary fund
				must be closed into another elementary fund, and a high school fund must be
				closed into another high school fund.
(2) Pursuant to
				20-9-201,
				MCA when trustees determine that a tuition fund is inactive and will no longer
				be used, they must close the fund into the miscellaneous programs
				fund.
(3) Pursuant to
				20-9-443,
				MCA when all bond principal, interest, and fees and all SIDs outstanding have
				been fully paid, the trustees shall close the debt service fund into the
				building reserve fund, general fund, or technology fund. The district shall
				identify money transferred from the debt service fund using a project reporter
				code number and track the subsequent uses of the money that are limited by
				20-9-443,
				MCA.
(4) Pursuant to
				20-9-505,
				MCA, a district entering nonoperating status shall close all funds, except the
				debt service fund and the miscellaneous programs fund, into a single
				nonoperating fund of the district.
(5) Pursuant to
				20-9-201,
				MCA except as provided in (1) through (5) of this rule, trustees may close an
				inactive fund into any fund considered appropriate by the trustees if the fund
				does not have a cash or fund balance deficit. If an inactive fund has a cash or
				fund balance deficit, the district must resolve the deficit before closing the
				fund.
(6) Pursuant to
				20-9-201,
				MCA, the trustees shall notify the county treasurer in writing of the fund
				closure, stating the district fund into which the inactive fund is to be
				closed. The county treasurer shall deposit subsequent receipts on behalf of the
				closed fund, including subsequent tax receipts, in the fund to which the
				inactive fund was closed.
AUTH:
					 20-9-102,
					 MCA; IMP:
					 20-9-201,
					 20-9-443,
					 20-9-505,
					 20-10-147,
					 MCA
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.3 - Special Accounting Practices › Rule 10.10.320 - CASH AND BUDGET TRANSFERS BETWEEN SCHOOL DISTRICT FUNDS

Current through Register Vol. 13, July 5, 2024
(1) Trustees may
				transfer cash between funds only if the transfer is specifically allowed by law
				or administrative rule.
(2)
				Trustees shall hold a properly noticed hearing to accept public comment on a
				transfer before the transfer can occur, except the following cash transfers:
(a) transfers from the general fund to the
				compensated absences fund under
				20-9-512,
				MCA, or transfer of an excess balance in the compensated absences fund to the
				general fund;
(b) transfers of
				unused employer contributions for self-insurance group coverage allowed by
				2-18-703,
				MCA;
(c) transfers from the general
				fund to the litigation reserve fund and, upon settlement of the litigation, a
				transfer returning the balance to the general fund under
				20-9-515,
				MCA;
(d) transfers between the
				federal impact aid fund and the debt service fund under
				20-9-437
				and
				20-9-443,
				MCA;
(e) transfers from any fund,
				except the miscellaneous programs fund, to support an interlocal agreement fund
				under
				20-9-703,
				MCA;
(f) transfers under
				20-3-363,
				MCA, from any budgeted or nonbudgeted fund, except the retirement fund, debt
				service fund, or compensated absence fund. Transfers from the general fund may
				not exceed the amount of direct state aid received by the district;
(g) closure of district funds to establish a
				nonoperating fund under
				20-9-505,
				MCA;
(h) transfers of unused
				tuition receipts from the miscellaneous programs fund to the general fund as
				provided in ARM
				10.10.310; and
(i) transfers of excess funds in the lease or
				rental agreement fund to the general fund as required in
				20-9-509,
				MCA.
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.4 - GAAP › Rule 10.10.401 - DEFINITION

Current through Register Vol. 13, July 5, 2024
(1) The governmental environment differs
				markedly from that of business enterprises. Governmental accounting systems and
				reports and the information they provide will differ accordingly. Thus, a set
				of generally accepted accounting principles (GAAP) applicable to governmental
				accounting and reporting has been developed for use by governmental units.
				These accounting principles are designed to enhance fiscal control, facilitate
				compliance with GAAP and finance-related legal and contractual requirements and
				result in financial statements and reports that fulfill many user information
				needs. GAAP provide uniform minimum standards of and guidelines for financial
				accounting and reporting. GAAP encompass the conventions, rules and procedures
				necessary to define accepted accounting practices at a particular time. They
				include not only broad guidelines of general application, but also detailed
				practices and procedures.
(2) The
				primary authoritative source on the application of GAAP to school districts is
				the Governmental Accounting Standards Board (GASB). The basic accounting
				principles are explained in detail in the "Codification of Governmental
				Accounting and Financial Reporting Standards" published by GASB.
(3) To assure school districts comply with
				GAAP and to clarify application of GAAP when necessary, the Superintendent of
				Public Instruction establishes uniform accounting and reporting policies for
				all school districts. This will be accomplished through the issuance of the
				"School Accounting Manual" and subsequent updates. In the absence of policy
				from the Superintendent of Public Instruction, the hierarchy of GAAP set forth
				in GASB Statement 1 should be followed. This hierarchy is as follows:
(a) Pronouncements of the Governmental
				Accounting Standards Board (GASB) ;
(b) Pronouncements of the Financial
				Accounting Standards Board (FASB) ;
(c) Pronouncements of bodies composed of
				expert accountants that follow a due process procedure, including broad
				distribution of proposed accounting principles for public comment, for the
				intended purpose of establishing accounting principles or describing existing
				practices that are generally accepted;
(d) Practices or pronouncements that are
				widely recognized as being generally accepted because they represent prevalent
				practice in a particular industry or the knowledgeable application to specific
				circumstances of pronouncements that are generally accepted; and
(e) Other accounting literature.
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.4 - GAAP › Rule 10.10.402 - FOCUS OF GENERALLY ACCEPTED ACCOUNTING PRINCIPLES

Current through Register Vol. 13, July 5, 2024
(1) The primary focus during the
				implementation of generally accepted accounting principles shall be accounting
				methods and internal financial reporting.
(2) Each district's accounting methods shall
				provide information to present fairly and with full disclosure the financial
				position and results of financial operations of the funds and account groups of
				the district in conformity with generally accepted accounting principles,
				except that for budgetary control purposes, encumbrances may be recorded as
				expenditures in the accounting records.
20-9-102,
					 20-9-201,
					 MCA; IMP,
					 20-9-201,
					 MCA;
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.4 - GAAP › Rule 10.10.403 - SCHOOL ACCOUNTING MANUAL

Current through Register Vol. 13, July 5, 2024
(1) The
				Superintendent of Public Instruction shall publish and distribute to each
				school district an accounting manual which shall be referred to as the "School
				Accounting Manual." Such accounting manual, as now or hereafter amended, shall
				govern the accounting procedures of each school district and is hereby
				incorporated into this chapter by this reference. The accounting manual shall
				prescribe accounting methods and principles to be used by each school
				district.
20-9-102,
					 20-9-201,
					 MCA; IMP,
					 20-9-201,
					 MCA;
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.4 - GAAP › Rule 10.10.404 - BASIS OF ACCOUNTING

Current through Register Vol. 13, July 5, 2024
(1) All school
				districts will use the generally accepted basis of accounting for each fund as
				set forth by the Governmental Accounting Standards Board to measure the
				district's financial position and results of financial operations. School
				districts shall be permitted to maintain the accounting system on the cash
				basis during the year. However, all adjusting entries required to convert the
				accounting system to the modified accrual or full accrual basis of accounting
				must be recorded prior to the year-end closing of the accounts.
20-9-102,
					 20-9-201,
					 MCA; IMP,
					 20-9-201,
					 MCA;
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.4 - GAAP › Rule 10.10.405 - CLOSING PERIOD

Current through Register Vol. 13, July 5, 2024
(1) The time period
				used after June 30th to determine the actual or estimated amount of all
				accruals, deferrals, and necessary adjustments existing as of June 30th shall
				be known as the "closing period."
(2) As required by
				20-9-213, MCA,
				every transaction will be recorded in the appropriate account before the
				accounts are closed at the end of the fiscal year in order to properly report
				the receipt, use, and disposition of all money and property for which the
				district is accountable.
20-9-102,
					 20-9-201,
					 MCA; IMP,
					 20-9-201,
					 MCA;
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.4 - GAAP › Rule 10.10.406 - STANDARD CHART OF ACCOUNTS

Current through Register Vol. 13, July 5, 2024
(1) For reporting
				purposes, a standard chart of accounts will be used by all school districts as
				prescribed by the Superintendent of Public Instruction. The chart of accounts
				will be in substantial conformity to the chart of accounts as presented in
				"Financial Accounting for Local and State School Systems" published by the
				National Center for Education Statistics. School districts shall not maintain
				funds or accounts that are not included in the standard chart of
				accounts.
20-9-102,
					 20-9-201,
					 MCA; IMP,
					 20-9-201,
					 MCA;
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.4 - GAAP › Rule 10.10.407 - FIXED ASSET INVENTORY

Current through Register Vol. 13, July 5, 2024
(1) All school
				districts shall maintain fixed asset inventory and depreciation records to
				allow reporting of fixed assets in conformity with generally accepted
				accounting principles.
20-9-102,
					 20-9-201,
					 MCA; IMP,
					 20-9-103,
					 20-9-213,
					 MCA;
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.5 - Monthly and Annual Reports › Rule 10.10.501 - COUNTY TREASURER'S FINANCIAL REPORTS

Current through Register Vol. 13, July 5, 2024
(1)
				As provided by
				20-9-212,
				MCA, the county treasurer's monthly report shall include an itemized report for
				each fund maintained by the school district showing the paid warrants,
				registered warrants, amounts and types of revenue received, and the cash
				balance.
(a) The county treasurer should
				consider including copies of A101 receipts and other supporting documentation
				with the monthly report or sending this information to each school district as
				received.
(b) The county
				treasurer's June report must include all money collected on behalf of school
				districts through June 30.
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.5 - Monthly and Annual Reports › Rule 10.10.502 - FINANCIAL REPORTS FILED WITH THE SUPERINTENDENT OF PUBLIC INSTRUCTION

Current through Register Vol. 13, July 5, 2024
(1) Monthly, quarterly, and annual financial
				reports shall be prepared by the administration of each school district and the
				county superintendent of schools on paper forms or electronically as provided
				by the Superintendent of Public Instruction. If a district or county
				superintendent chooses to generate their own paper forms, they will be accepted
				only if the format duplicates the preprinted forms provided by the
				Superintendent of Public Instruction.
(2) For electronic reporting of monthly,
				quarterly, and annual financial reports, the school district shall be in
				compliance with the specification requirements as provided by the
				Superintendent of Public Instruction.
20-9-102,
					 20-9-201,
					 MCA; IMP,
					 20-9-102,
					 20-9-213,
					 MCA;
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.5 - Monthly and Annual Reports › Rule 10.10.503 - REPORTS - NOTIFICATION TO BOARD OF PUBLIC EDUCATION

Current through Register Vol. 13, July 5, 2024
(1) According to
				20-9-344,
				MCA, the Board of Public Education may order the Superintendent of Public
				Instruction to withhold distribution of BASE aid from a district when the
				district fails to submit reports or budgets as required by law or
				rule.
(2) The purpose of
				withholding distribution of a district's BASE aid is to ensure that required
				reports and budgets are prepared properly and are submitted timely. Therefore,
				the Office of Public Instruction will notify the Board of Public Education if a
				district or county repeatedly:
(a) fails to
				submit reports or budgets in accordance with prescribed deadlines, or
(b) fails to prepare reports or budgets
				correctly. This section applies to reports and budgets that are necessary for
				the Office of Public Instruction to determine the district's BASE aid or are
				necessary for the Office of Public Instruction to monitor a district's
				compliance with statutory restrictions.
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.5 - Monthly and Annual Reports › Rule 10.10.504 - FUNDING ADJUSTMENTS FOR PRIOR/CURRENT YEAR REPORTING ERRORS

Current through Register Vol. 13, July 5, 2024
(1) The Office of
				Public Instruction conducts several checks on the accuracy of data reported by
				trustees, county treasurers, county superintendents of schools and school
				districts. If errors are found in data reported as a result of these checks, or
				if an error is brought to the Office of Public Instruction's attention by the
				district, county or another outside party, the Office of Public Instruction may
				require an amended report or budget to be submitted and may make any necessary
				adjustment to the district's state or federal payments.
(2) Regardless of the year the report or
				budget error occurred, whenever possible, any resulting adjustment to the
				district's prior or current year state payment will be made in the year the
				error is discovered. The adjustment will be made by increasing or decreasing,
				as appropriate, current year state payments remaining to be distributed to the
				district.
(3) If the amount
				remaining to be distributed to the district in the current year is less than
				the amount of an adjustment decreasing the district's state payment, the
				balance of the adjustment will be made by reducing state payments to the
				district in the following year or years until all prior year over-distributions
				of state payments have been recovered.
(4) The Superintendent of Public Instruction
				may require a district to provide reasonable documentation supporting the
				amount of additional state payments to be distributed to the district due to
				errors in financial or ANB data reported in the prior or current year. Examples
				of reasonable supporting documentation include copies of district accounting
				records, copies of county accounting records and official audit
				opinions.
(5) Revisions to the
				annual trustees' financial summary report made by the district or cooperative
				after December 10 of the ensuing fiscal year will not be considered in
				calculating amounts used for special education reversion or for federal
				maintenance of effort requirements.
(6) Material revisions to the annual
				trustees' financial summary submitted by December 10 shall be accepted, limited
				to the following types of adjustments:
(a)
				coding revisions between revenue or expenditure line items providing no change
				occurs in the fund balance of budgeted funds; and
(b) revisions in balance sheet accounts
				provided no change occurs in the fund balance of budgeted funds.
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.5 - Monthly and Annual Reports › Rule 10.10.505 - DISTRICT REVENUE AND EXPENDITURE REPORTS

Current through Register Vol. 13, July 5, 2024
(1) The district clerk shall make available
				revenue and expenditure reports to the board of trustees.
(2) The recommended format for revenue and
				expenditure reports for budgeted funds is:
(a) The revenue budget report should show by
				revenue account the amount budgeted by fund for each revenue account, the
				amount collected to date, and the amount remaining to be collected.
(b) The expenditure budget report should show
				the amount budgeted by line item, function, or in total, the amount expended to
				date and the amount of budget authority remaining.
Administrative Rules of Montana › Department 10 - EDUCATION › Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES › Subchapter 10.10.6 - Investments › Rule 10.10.601 - COUNTY INVESTMENT OF SCHOOL DISTRICT FUNDS

Current through Register Vol. 13, July 5, 2024
(1) As required by
				20-9-212,
				MCA, county treasurers shall invest, within three days of receipt, money
				received in the elementary and high school county equalization funds, the
				county levies in support of district retirement obligations, and the county
				levy in support of transportation schedules. The taxes must remain invested
				until one working day before they are distributed to school districts within
				the county or remitted to the state.
(2) County treasurers shall allocate
				proportionately to, and deposit investment income received, in the funds
				established to account for elementary and high school county equalization, the
				county levies for retirement, and the county levy for transportation.
20-9-102,
					 MCA; IMP,
					 20-9-212,
					 20-9-213,
					 MCA;