100BUD-v3
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Issued: September 2017
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Completion and adoption of the 2018 BudgetLinks:
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ChangesCash Transfers
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TimingDepreciation
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ScopeMOE Funded Salaries
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Budget Summary PageBoard Funded Support Staff & Teachers
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Suggest StepsACC
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GSTCapital Expenditure
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Income & ExpenditureBank Staffing
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Operations GrantLeases
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Other IncomeUse of Land & Buildings
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Cyclical MaintenanceApproval
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Changes
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These instructions are now part of the budget template. (See separate Budget Tab)
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Cells that contain formulas have been protected. ( Review Protect to turn off )
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The MOE recommends schools budget for MOE-funded salaries so this option is available below.
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After the changes introduced 2016, nearly all leases are now "Finance Leases"
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Timing:
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Best practice is to start in Sept and have the draft complete by 31 December 2017
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You have until 31 March 2018 to make any final changes.
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Scope:
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This budget includes all BOT-controlled operating income and expenditure, funds run by the school on behalf of other groups or clusters, and BOT-funded capital expenditure.
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Apart from any BOT share, it does not include Capital projects which are MOE funded.
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The Budget Summary Page produces the:
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Operating surplus or deficit
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Cash Surplus from Operations
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Total Cash surplus for the year
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Closing Cash balance (including all reserves) as at 31/12/18
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Cash transfers for asset and cyclical maintenance to their respective reserves
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Main movements in balance sheet accounts
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Suggested Steps
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1Consult with school staff, school fundraising body and, if thought appropriate, the community.Click here to go to the Budget Tab
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2Refer to the Charter and the goals and targets the school has set for improved student outcomes. Ensure the Budget reflects those plans.
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3 Prepare or update your Board-funded Capital Plan and Annual Cyclical Maintenance calculation.
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4Obtain your 2018 Initial Operations Grant funding notice (available late September from the MOE Education Portal).
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5Estimate income. See notes (c) and (d) below.
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6Complete the expenditure budget. See notes (e) to (m)
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7Add an estimate of working capital and reserves as at 31/12/17.Click here to go to Opening Net Cash Reserves
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8Review. Is the result satisfactory? Have you adequate funds in working capital and reserves to achieve your plans? Make changes if necessary. Email a draft to g.muir@schoolsupport.co.nz if assistance or a review is required.
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9Formally adopt (using motion below) the final version by the end of 2017. Attach a signed copy in the BOT Minute Book.
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10NB: Any significant amendments can be incorporated in your 2018 Budget, but must be completed, approved and emailed to SSL by 31 March 2018.
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11Formally adopt the renewal of the Principal’s authority to spend the Budget.
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12 Email to School Support g.muir@schoolsupport.co.nz as an attachment, a copy of the Budget and your 2018 Ministry Operations Grant Initial Entitlement Notice (issued late Sept 2017) if you haven’t already.
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13Recommendation: Retain all budget workings in a “2018 Budget” file for future reference.
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Please ask School Support Ltd for advice at any time.
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2018 SPECIFIC BUDGET AREAS:
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Contents List
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(a)GST: All budget figures must be GST exclusive (N.B. gross x 20/23 = net).
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(b)Keep Income and Expenditure separate: For example, for School Camps and School Trips, show the projected receipts in Local Funds Income and the projected expenses in Learning Resources under Extra Curricular Activities. Simply include income in the Income budget and expenditure in the Expenditure budget .
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(c)Operations Grant: Calculate Operational funding on a conservative estimated pupil roll, (1st July 2018 including new entrant adjustment for primary schools, 1st March 2018 for intermediate schools, 1st September 2018 for secondary schools).
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Use 2017 funding components as the basis unless more relevant information is available. All Ministry components are generally coded to code 1005, but ensure you separate RTLB, RTLitt, STAR and any Cluster funds that you administer.
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Contents List
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(d)      
Other Income: Estimate in a conservative way. If not material, don’t include in the Budget.
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(e)     
Cyclical Maintenance (Code MP): Refer to the spreadsheet Tab “Cyclical Mtce” (attached to the main budget spreadsheet) for a definition and calculation of cyclical maintenance expenditure. Ideally, obtain an updated cyclical maintenance calculation sheet from your property consultant to complete this. It should include all major painting (both exterior & interior, including swimming pools where relevant), plus all Programmed Maintenance Services painting contracts (also a tab of the budget spreadsheet). Click here to go to Cyclical Maintenance Tab
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House painting of BOT-owned houses should be budgeted under House Expenditure (5300 series code) as should contingencies or minor repairs and maintenance items.
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Cash transfers to your cyclical maintenance reserves (of the same amount as your budgeted code MP expense), are recommended to ensure you have sufficient funds available when the time comes to paint. Change the amount on (approx.) row 65 (code MAIN) if you want us to transfer an amount different to your budgeted expense.Click here to go to Cash Transfers
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(f)
Depreciation should be fully budgeted for - it is an audit / Ministry requirement. We recommend you base this on your 2017 forecast figure, increased by say 10% for 2018 board-funded asset purchases . Once we have processed your fixed asset register review adjustments, we will be able to run reports that predict your 2018 figure more accurately. Please advise if you would like this sent to you.Click here to go to Depreciation
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Please note that even though it is a non-cash item, you cannot avoid incurring your depreciation expense as it is based on past capital expenditure. As with cyclical maintenance, change the amount on row (code DEPN), if you want us to transfer to asset reserves, a cash amount different to your budgeted depreciation expense.
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Contents List
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(g)MOE-Funded Salaries: The MOE recommends these be budgeted, and that actuals paid be processed monthly into your financial statements. If required by your BOT, please complete the appropriate section under Govenrment Grants.If Required, select "Yes" from drop down box below
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No
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(h)Board-funded Support Staff and any Board-funded teachers:
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Allow for changes in staff numbers, award changes, etc, and budget from when these take effect. Caretakers, Cleaners and Grounds staff, allow for 52 weeks.

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For other staff, allow for the appropriate number of weeks, usually 40. Allow for holiday pay if not already included in the pay rate.
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The ‘Relieving Teachers’ component of your Operations Grant is to pay teachers covering for teachers away sick (medical certificate situations and special paid leave). We suggest the component (after deducting GST) be your budget, or whatever your previous experience tells you. (Relieving Teachers to cover for professional development absenteeism should be included in the budget for Professional Development under Personnel Costs). Note that Relief Teacher Reimbursements are coded as income under 1040 for Govt and 1298 for Non-Government (Universities etc).
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(i)To check the % of operations grant funding being spent on board-funded salaries, refer to the KPI tab and adjust payroll budgeted where necessary.Click here to go to Payroll
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(j)ACC Levies: (Code 2879 or 2515) multiply the total personnel costs in (g) by 33 cents per $100 (i.e. x 0.0033). Allow only for Board funded staff. ACC on teachers salaries is paid for by the MOE directly so need not be budgeted.
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(k) Capital Items: Schools should have a plan covering Board-funded capital expenditure over the next few years. Extract your planned 2018 expenditure from this plan and include in the 1751 to 1757 part of the spreadsheet. Include only items in excess of $500 (except for bulk purchases of classroom furniture, and electronic equipment greater than $2000 in total, all of which are capitalised,). Lower-cost items should be included in New Minor Equipment codes in Learning Resources, Administration or Property, as appropriate. Please note that capital expenditure is not an operating expense and, except for depreciation on the acquisitions, has no effect on the Operating Surplus.Click here to go to Capital Expenditure
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(l)        
  Bank Staffing:
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Under or overuse is based on the final figures as at 31/3/18 and will need to be estimated.
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i.  Underuse – 75% of this is refunded by the MOE – budget under Govt Grants –Banked Staffing code 1004BS.
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ii.      Overuse - budget as an expense under teachers salaries 2501BS or 2892BS.
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Contents List
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(m) Leases:
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The Leases tab is part of your Budget template. It is up to date as the time of writing (10/09/17), based on contracts you have supplied to us. Please check this spreadsheet and enter the GST inclusive value for any new leases in the appropriate section. Click here to go to Leases Tab
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Most leases will be treated as finance leases.
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(n)Borrowing Repayments:
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To avoid a breach, schools must not spend more than 10% of their operations grant on repayments of loans, leases, paint contracts or overdrafts. Please refer to the KPI tab to see your results. Reconsider any lease decisions in the light of this resultClick here to go to KPI Tab
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(o) Use of Land & Buildings is a notional expense (with an equivalent income code under Government Grants). It represents the cost of “leasing” crown assets owned by the MOE or Proprietor. No budget is required for either of these items.
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