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Retail Sales Time Payments

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					                  INSTRUCTIONS FOR COMPLETING FINANCIAL PROGRESS REPORTS

(If additional assistance is required, contact Wendy Shaw at: 945-6132 or email:        weshaw@gov.mb.ca

PROJECT IDENTIFICATION:

     ENTER School Division/District Name
     ENTER School Name
     ENTER Project Description
     ENTER Project # (as assigned by the PSFB - progress report should not be submitted without a PSFB
     project #)

REPORT STAGE:

     If this is the last progress report for this project, check the final box - final payouts cannot be made unless
     this box is checked.

AMOUNT APPROVED AND ACTUAL AMOUNT PAID:

     There are four (4) columns in this section.
     Column (A) are the project amounts (called final support) approved to date by the PSFB.
     Column (B) is the balance forward of year-to-date amounts paid from the last progress report submitted.
     Column (C) is the current amount paid and is the amount of this progress report claim.
     Column (D) is the new year-to-date total of actual amounts paid on this project.

EXPENDITURE CATEGORY:

     Progress report payments are grouped into several categories which are determined by the final support
     approved by the PSFB. When payments to contractors/suppliers are made, current payment amounts are
     ENTERED using these categories. Each category has three lines (except Holdback and Interest); the first
     line is the amount paid to the contractor/supplier before GST and RST, the second line is the GST paid (this
     amount is automatically calculated), and the third line is the RST paid on the invoice (this amount is
     entered). The refundable portion of the GST is also calculated and included in the Total Current
     Refundable GST (CELL H69).

     HOLDBACKS:

     Recording Holdbacks requires special consideration, since holdback amounts are withheld from payments
     to the contractor and the funds are allocated to an interest-bearing trust account by the school division.
     Effectively, the holdback funds are not available to the school division, therefore, the holdback is recorded
     as if it were paid out at the time the holdback is withheld.

     ENTER the holdback amount in Column (C). The amount is automatically added to the Total Current
     Holdback (Cell H67) in the Reconciliation section and is part of the reconciliation of the current amount and
     the current payments.

     When the actual holdback is paid to the contractor, there are three amounts to enter in column (C). Any
     interest paid on the holdback is not included in the progress report.
     ENTER the amount of the holdback (excluding GST, RST and interest) paid to the contractor in the Contract
     line. The Net GST and the refundable GST will automatically calculate based on the amount of the
     holdback entered.
     ENTER the RST paid on the holdback, if any, in the Contract RST line.
     ENTER the holdback amount (excluding GST and RST) as a negative in Column (C) in the Holdback line.

     If the holdback is the only current amount on this progress report, the total of the Actual Amount Paid -
     Current (CELL G40) in column (C) is the non-refundable GST and the RST paid on the holdback. This
     same amount should also be in Total Current Amount (CELL H71) in the Reconciliation section.
                 INSTRUCTIONS FOR COMPLETING FINANCIAL PROGRESS REPORTS

LIST OF CURRENT PAYMENTS:

    ENTER the cheque date, the cheque # and the actual amount paid for amounts reported in the Current
    amounts paid Column (C). These amounts would include all taxes paid. If this is a holdback payment do
    not include the interest paid on the holdback.
    If the contractor/supplier is paid with one cheque for more than one project, only expenditures for this
    project should be reported in this section.

LIST OF DEBENTURE FINANCING:

    ENTER the date of the debenture, the school division by-law # and the debenture amount in the appropriate
    column. These amounts will be compared to amounts recorded by the PSFB to ensure that all debentures
    have been reported.

RECONCILIATION:

    All amounts that appear in this section are automatically calculated and no entries are required in this
    section. This section is used to reconcile amounts entered in Column (C) the Actual Amount Paid - Current
    with the List of Current Payments. The total Actual Amount Paid - Current (CELL G40) should equal the
    Total Current Amount (CELL H71). If these amounts are not equal, the entries in Column (C) Actual
    Amount Paid - Current and entries in the List of Current Payments should be reviewed. Progress reports
    should not be submitted unless these CELL amounts are equal.

CERTIFICATION:

    The Secretary-Treasurer must certify each progress report.
                                    THE PUBLIC SCHOOLS FINANCE BOARD (PSFB)
                                         FINANCIAL PROGRESS REPORT FOR
                                          DEBENTURED CAPITAL PROJECTS
                                                     AS OF:

SCHOOL DIVISION/DISTRICT:
SCHOOL:
PROJECT DESCRIPTION:                                                                                 PROJECT # :


REPORT STAGE (if final, please check):
             FINAL                                            AMOUNT
                                                                                              ACTUAL AMOUNT PAID
                                                          APPROVED BY
                                                           THE PSFB        PER LAST REPORT          CURRENT            TO DATE
           EXPENDITURE CATEGORY
                                                             (A)                  (B)                 (C)                (D)
CONTRACT (net of holdback deduction)                                                                               $             -
                                Net GST (1.60%) >                      -                  -                    -                 -
                     Retail Sales Tax (RST) paid >                                                                               -
HOLDBACK                                                                                                                         -
ARCHITECT FEES                                                                                                                   -
                                Net GST (1.60%) >                      -                  -                    -                 -
                     Retail Sales Tax (RST) paid >                                                                               -
INTEREST                                                                                                                         -
PRINTING                                                                                                                         -
                                Net GST (1.60%) >                      -                  -                    -                 -
                     Retail Sales Tax (RST) paid >                                                                               -
              OTHER (please specify):
(Enter First Other Payment Category here)                                                                                        -
                                Net GST (1.60%) >                      -                  -                    -                 -
                     Retail Sales Tax (RST) paid >                                                                               -
(Enter Second Other Payment Category here)                                                                                       -
                                Net GST (1.60%) >                      -                  -                    -                 -
                     Retail Sales Tax (RST) paid >                                                                               -
(Enter Third Other Payment Category here)                                                                                        -
                                Net GST (1.60%) >                      -                  -                    -                 -
                     Retail Sales Tax (RST) paid >                                                                               -
(Enter Fourth Other Payment Category here)                                                                                       -
                                Net GST (1.60%) >                      -                  -                    -                 -
                     Retail Sales Tax (RST) paid >                                                                               -
            TOTAL EXPENDITURES                        $                -   $              -     $              -   $             -


                     LIST OF CURRENT PAYMENTS                                            LIST OF DEBENTURE FINANCING
        CHEQUE DATE                 CHEQUE #               AMOUNT                DATE               BY-LAW #           AMOUNT




                                                                                  DEBENTURES ISSUED TO DATE:       $             -

                                                                RECONCILIATION

                 TOTAL CURRENT PAYMENTS:              $                -            TOTAL CURRENT HOLDBACK:        $             -

              CURRENT INTEREST PAYMENTS:              $                -       TOTAL CURRENT REFUNDABLE GST:       $             -

    TOTAL PAYMENTS INCLUDING INTEREST:                $                -                TOTAL CURRENT AMOUNT:      $             -


I HEREBY CERTIFY THAT THE ABOVE INFORMATION IS TRUE AND CORRECT AND REPRESENTS ACTUAL PAYMENTS MADE:




                                            DATE                                              SECRETARY TREASURER

				
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