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Transportation Transfer Provision

SB 02, section 10 requires districts transfer budgeted and non-budgeted funds to the transportation fund to eliminate any increase in school district property taxes that would otherwise be caused by Senate Bill 2. This can be accomplished by reducing transportation spending, covering the lost state revenue from transportation fund reserves, or transferring budgeted and/or non-budgeted funds to the transportation fund. The maximum amount allowed to transfer is equivalent to the shortages associated with the transportation block grant reduction and state transportation appropriation reduction. (Districts cannot transfer from the debt service fund or retirement fund.)

All transfers related to this must use the object code 913 and the corresponding revenue code 5303. This transaction should be recorded as an interfund operating transfer, addressed in the School Accounting Manual, Section 5-0520.30 – Interfund Transfers – Operating Transfer.

For example:

To record an operating transfer between funds: For example, assume the district transfers $600 from the General Fund to the Transportation Fund at fiscal year-end.

General Fund (01)

Debit: 802 Expenditures $600

Credit: 101 Cash $600

Expenditures Subsidiary Ledger

X01-XXX-6100-913 Transportation Transfers (FY 18 – 21) Out $600

Transportation Fund (10)

Debit: 101 Cash $600

Credit: 402 Revenues $600

Revenues Subsidiary Ledger

X10-5303 Transportation Transfers (FY 18 – 21) $600

NOTE: Charges to expenditure object 913-Transportation Transfers and income credited to revenue source 5303-Transportation Transfers (FY 18 – 21) should balance at all times.

Ensure a cash transfer entry is also completed by September 30th.

Assuming an increase in district property taxes is estimated:

1. For FY 2018, districts will need to transfer up to an amount equivalent to the payment reduction (the final amount will not be known until June 2018).

2. In FY 2019, districts will need to transfer up to an amount equivalent to the payment reduction (the final amount will not be known until June 2019) and the amount of the school transportation block grant amounts (found in the district budget for FY 2018 under fund (10) and revenue 3444 or refer to the chart below).


Account codes:

Please use the following new expenditure object codes beginning July 1, 2016.

355 Computer Services

Contracted services to the school district for computer services, such as consulting and planning.

 455 Repairs & Maintenance- Technology Equipment

Includes ongoing service agreements for technology hardware (e.g., personal computers and servers) and for the costs for renting or leasing technological equipment.

535 Communications

Services provided by persons or businesses to assist in transmitting and receiving data communication services, to establish or maintain computer-based communications, networking, and Internet services; video communications services to establish or maintain one-way or two-way video communications via satellite.

645 Online Textbooks

E-Books.

682 Supplies – Technology Related (revised)

Technology-related supplies include supplies that are typically used in conjunction with technology-related hardware or software not exceeding the capitalization threshold.   Some examples are CDs, flash or jump drives, parallel cables, and monitor stands. E-readers, including Kindles and iPads, that fall below capitalization thresholds should be reported here as well. Software costs below the capitalization threshold should be reported here. Licenses and fees for services such as subscriptions to research materials over the Internet should be reported with object code 535 Communications. (Used primarily with functions 1000, 2230 and 2580, but may also be used with 2620, 2650 and 2730.) Audio-Visual supplies previously reported here are now reported under object code 610.

 

735 Major Technology Equipment and Software

 

Expenditures that exceed the capitalization threshold for computer hardware and software, monitors, overhead projection devices for computers, and computer packages.