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INFORMATIONAL LETTER: 55
TO: Superintendents of Schools
FROM: Susan A. Gendron, Commissioner of Education
DATE: December 14, 2006
RE: MEDMS Financial Module Update
I am pleased to inform all of you that the MEDMS Financial System project is on schedule and the new system will be implemented on January 2, 2007.
In two Administrative Letters that were sent to you earlier this year, I stated that beginning with the FY 2007-08 fiscal year, all financial data would be collected via the new MEDMS module. The following reporting forms will no longer be utilized by the School Finance and Operations Team for collection of FY 2007-08 financial data: EFM 46 Annual Budget Report, EFM 45 Annual Revenue and Expenditure Report and EFS 02 Annual Report of Special Education Revenue and Expenditures. The first financial data submission in the new MEDMS Financial Module will be the FY 2007-08 Budget; this is due no later than August 15, 2007. Please note that for the current fiscal year ending June 30, 2007, you will still be required to file the EFM 45 report and the EFS 02 report.
Should your school administrative unit be unable to submit financial data by the due dates and in the format required via the MEDMS Financial System, (State law 20-A, §6801-A, Subsection 1) provides me with the authority to withhold state subsidy until your school unit has the ability to comply with the requirements of the MEDMS Financial System. As the Department has been working with school administrative units for over two years on the revised state chart of accounts, I am hopeful that all units are ready to begin using the new financial system.
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