FY 2008-09 Year End Financial Reporting – due September 18, 2009

ADMINISTRATIVE LETTER: 55
POLICY CODE: JF/DI

TO: Superintendents of Schools
FROM: Susan A. Gendron, Commissioner
DATE: June 25, 2009
RE: FY 2008-09 Year End Financial Reporting – due September 18, 2009

Actual financial data for July 1, 2008 through June 30, 2009 is required to be uploaded to the MEDMS Financial System by Friday, September 18, 2009. The year end files that are required to be submitted are actual revenue, actual expenditure and actual balance sheet. These files must contain all transactions for General fund, Special Revenue funds, ARRA Federal Stimulus funds, Major Capital funds, Minor Capital funds and School Nutrition funds, encompassing transactions from July 1, 2008 through June 30, 2009. All year end actual files should be submitted to MEDMS under Quarter 4 and must be error-free, approved, and certified via MEDMS by September 18, 2009 in order for September subsidy to be released.

These requirements, as well as additional information regarding FY 2009 year end actual data submissions, are summarized on our website at the following link, under the title “Actual Reporting”:

http://www.maine.gov/education/medms/financialinfolist.html

Additionally, several reports are available via MEDMS Financial to facilitate reconciliation and verification of your certified financial data. These reports are available by selecting the report menu and choosing “Budget to Actual”, “Revenue by SAU” and/or “Expenditure by SAU”. All of these reports may be downloaded as Excel files so that you may sort the data in a way that facilitates your review. These reports should also be provided to your audit firm by your business office.

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