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CLOSEDOWN NEW YEAR GUIDANCE PACK 200607 – for Schools Using

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					                FMS6 - PROCEDURE NOTE - No 52

         Accounting for Standards Fund from April 2009

From April 2009 Standards Fund allocations will be included within Fund 01.
They will be advanced to schools using the Accounts Payable School
Advances (APSA) system via the Statement of Account as before but will be
coded to CFR Ledger codes I05-01 and I15-01 (previously issued against 66
or 67). Funds 66 and 67 will no longer be used.
You will need to complete the following stages below to account for the new
procedures:
1. Link Standards Fund Income Ledger Codes to Fund 01
2. Set up Standards Fund Income Cost Centres
3. Set up Expenditure Cost Centres for Targeted Grants
4. Link Ledger Codes to Cost Centres
5. Add Ledger Codes I05-01 and I15-01 to the KCC Reconciliation and
   Income and Expenditure Reports
6. Unlink and Delete obsolete Cost Centres/Ledger Codes
7. Rename Obsolete Standards Fund Cost Centres if unable to delete
8. Process Outstanding OLD Year, Standards Fund, Purchase Orders in the
   New year
Linking Ledger Codes to Fund 01 and New Cost Centres:
Income Ledger Codes I05 and I15 may need to be linked in FMS6 to Fund
01. We recommend new Cost Centres are set up specifically to account for
the Standards Fund Income advanced against these Ledger Codes.
Suggested Code Structure for Standards Fund Income:
CFR Code            Cost Centre Description
I05-01                K05             Standards Fund Income
I15-01                K15             Pupil Focused Extended Schools

Checking / linking Income Ledger Codes:
Link Standards Fund Income Ledger Codes to Fund 01 in the NEW year
 Tools
 General Ledger Set-up
 Worksheet 5 Ledger Codes
 Highlight Income Ledger Code I05
 Double click or use the edit pencil on the right
 Check the Funds currently linked at the bottom of the page
 If necessary, use the spyglass on the right of the Funds box
 Highlight Fund 01 in the Other Funds box
 Double click or use the Choose arrow to move to the Linked Funds box
 Save
 Save
 Repeat for I15 if necessary



CFE Finance                         1
April 2009
Set up Cost Centres for Standards Fund Income:
We suggest K05 and K15 unless they are already being used for another
purpose, in which case you can set up appropriate new cost centres for
Standards Fund as required.

Set up expenditure Standards Fund Cost Centres for Targeted Grants:
Any unspent ‘targeted’ Standards Fund (e.g. Music) at the end of the OLD
year, will need to be identified separately in your accounts in the NEW year
and spent appropriately as directed by the original guidelines for the grant.
You will need to ensure that you can identify any targeted bids separately for
the New year.

To enable you to do this, we recommend new Cost Centres are set up
specifically for this purpose and for any new targeted grants you may receive
in the NEW year. You will need to decide on a naming convention for these
Cost Centres e.g. SMUSIC (for Music) or an incremental convention e.g. S01,
S02 etc and link them to all appropriate Ledger Codes e.g. E19-01, E27-01
etc

Standards Fund ‘Targeted Grant’ Expenditure Code examples:
CFR Code            Cost Centre Description
E19-01                  SMUSIC          Standards Fund Music bid
E03-01                  S01, S02 etc.   Standards Fund Targeted Grant

All other Standards Fund Expenditure:
For all other Standards Fund expenditure your existing Fund 01 Ledger
Codes and Cost Centre structure can be used.

Set up Cost Centres in the NEW year
 Tools
 General Ledger Set-up
 Worksheet 2: Cost Centres
 Double click the yellow folder for 01 LM Formula
 You will have further levels of yellow folders in your Cost Centre set up
   structure and will need to double click until you reach an appropriate folder
 Click on the Add (+) White File to add a new Cost Centre Definition
 Enter the new Cost Centre (see examples)
 Enter an appropriate description (see examples)
 Tab to populate the Abbreviation Field
 Click the Check Spending tick to remove it
 Save
 Repeat for other Cost Centres as required
 Save




CFE Finance                             2
April 2009
Link Ledger Codes to Cost Centres
Linking Cost Centres to Ledger Code/s in the NEW year
 Tools
 General Ledger Set-up
 Worksheet 6: C/Centre Ledger Links
 Add (+) on the right
 Highlight the new Cost Centre in the Available Cost Centres box (see
   examples)
 Double click or use the small white arrow to move to the Chosen Cost
   Centres box
 Highlight the appropriate Ledger Code/s in the Available Ledger Codes
   box (see examples). A Fund 01 Ledger Code must be used
 Double click or use the small white arrow to move to the Chosen Ledger
   Codes box
 Create Links
 Message – Number of links created: e.g. 1 Number found to exist
   previously: 0
 OK
 Save


Add Ledger Codes I05 and I15 to the KCC Reconciliation and Income &
Expenditure Reports
As you have set up newly linked ledger codes (e.g. I05-01) you will need to
update the KCC Income & Expenditure and KCC Reconciliation Reports to
include them.

Procedure notes are available on Kent Trust Web. From the Home Page
select Finance from the Most Popular menu on the left hand side. Select
SIMS and select Revised Notes 11 and 12.

Unlink and Delete Incorrect / Obsolete Codes
At the beginning of the NEW year we recommend deleting all Fund 66 and 67
linked code combinations where possible. The links should be cleared from
the system by firstly unlinking the code combination. This process can only be
carried out if the combination hasn’t been used for a FULL financial year and
after a FINAL Closure has been carried out.

Unlink Cost Centres/Ledger Codes in the NEW year
 Tools
 General Ledger Setup
 Worksheet 6: C/Centre Ledger Links
 Ledger Codes are displayed on the left and their linked Cost Centres are
   on the right
 Highlight the obsolete ‘linked’ Ledger Code and Cost Centre
 Click the Minus on the right hand side


NOTE: an error message will be displayed if the link cannot be deleted




CFE Finance                           3
April 2009
Delete obsolete Cost Centres in the NEW year
 Tools
 General Ledger Setup
 Worksheet 2: Cost Centres
 Double click to select the appropriate Yellow Fund Folder
 Highlight the Cost Centre (White File) to be deleted
 Click the Minus on the right hand side


NOTE: an error message will be displayed if the Cost Centre cannot be
deleted

NOTE: if the Standards Fund code combinations are not used at all in
2009/10 you will be able to delete them at the beginning of the next financial
year 2010/11

Rename Obsolete Standards Fund Cost Centres where necessary
If Standards Fund Cost Centre and Ledger Code combinations cannot be
unlinked and deleted, as described above, we suggest you rename the Cost
Centres to prevent further transactions being processed against them in the
NEW year e.g. Do Not Use 1. If using this example you will need to
increment each Cost Centre by one as the description has to be unique.

Rename Standards Fund Cost Centres in the NEW year to Do Not Use etc.
 Tools
 General Ledger Set-up
 Worksheet 2: Cost Centres
 Double click the yellow folder for 66 or 67
 Click the edit pencil to the right and change the Fund description to Do Not
  Use
 Highlight in turn each Cost Centre (white file)
 Click the edit pencil to the right and change description to Do Not Use 1
 You will need to increment each Cost Centre by one to make the
  description unique
 Save
 Repeat for other Cost Centres as required
 Save


Outstanding OLD Year Standards Fund Purchase Orders in the New
year:
The codes used for any outstanding and transferred Standards Fund
Purchase Orders, raised in the OLD year, can be changed in the NEW year to
Fund 01 when the invoices are processed. Standards Funds 66 & 67 must
NOT be used.

Additional Information/Support
For additional help or information Contact the Trading & Contract
Management Unit: 0845 365 5368
financeschoolsupport@kent.gov.uk



CFE Finance                           4
April 2009

				
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Description: CLOSEDOWN NEW YEAR GUIDANCE PACK 200607 – for Schools Using