FY 2008-09 MEDMS Financial Data

ADMINISTRATIVE LETTER: 21
POLICY CODE: JF/DI

TO: Superintendents of Schools
FROM: Susan A. Gendron, Commissioner of Education
DATE: September 24, 2008
RE: FY 2008-09 MEDMS Financial Data

I am writing to remind you that your school administrative unit should be submitting FY 2008-09 actual expenditure and revenue data to the MEDMS Financial System on a quarterly basis.

The purpose of submitting these data is two-fold: 1) to provide your financial staff the opportunity to review the data and correct any errors and warnings that may be identified during the file validation process (this is especially important to do prior to the end of the fiscal year to ensure that your unit can submit an error-free file at year-end and avoid the withholding of subsidy checks); and 2) to provide my staff with the opportunity to further analyze the MEDMS Financial System and identify any areas in need of change in order to ensure accurate calculation of your unit’s subsidy, tuition rate and other financial reports for which these data are the basis.

Quarter 1 expenditure and revenue data should be submitted after quarterly closing entries have been posted to your accounting system. These file submissions should contain transactions posted from July 1, 2008 through September 30, 2008.

Should you need clarification regarding the quarterly financial data submission, please contact Joanne Allen, School Finance Coordinator at joanne.allen@maine.gov or Karla Miller, School Finance Coordinator at karla.miller@maine.gov