MA DESE requires all End of Year Reports to be submitted by September 30, 2016.  In order to provide some additional guidance this year, our auditors have put together some helpful tips and tricks to remember while completing your EOYR:

Schedule 1 Revenues

    • While many of these amounts are pre-filled in by DESE, districts are responsible to confirm what is reported and make changes if  necessary
    • Grant revenues should include amounts paid directly to MTRS
    • Grant revenues should be reported in accordance with the grant year (exclusive of the exception below, most of the grants have a grant year of 9/1-8/30)
      • Amounts reported for two-year grants (Title I and Title IIA) should include revenues received during the fiscal year for both open grant years
    • Visit the link noted above and click “FY16″ to obtain a detailed listing of DESE grants received by district
    • Amounts reported for revolving and other revenues should come directly from the final general ledger

Schedule 1B Expenditures by City or Town and Schedule 19

    • The figures reported here determine the district’s compliance with net school spending requirements
    • DESE will be looking to ensure amounts are reported for Employee Separation Costs in FY16
    • Amounts reported should be in accordance with the written agreement between the School Committee and Municipal officials documenting the methodology used
    • The methodology in the written agreement should be in accordance with DESE’s guidance on reporting by municipal agencies (www.doe.mass.edu/finance/accounting/MunicipalReporting.doc)
    • Records substantiating the amounts reported should be retained by both the Municipality and the School

Resources to aid in completion are available online at: http://www.doe.mass.edu/finance/accounting/eoy

Resources include the presentation from this year’s EOYR workshop, detail of DESE grants reported, and guidance for reporting revenues and expenditures for school construction.

If you have additional questions while completing this year’s EOYR, contact your audit team for guidance.

 

 

 

 

By: Sara Demos
Senior Staff Accountant – Melanson Heath