Arkansas Education Service Cooperatives are not required to follow the requirements for coding listed as numbers 1 and 2 in Commissioners Memo number FIN-09-068. These numbers are listed in the block area below:
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1. REVENUE REQUIRED TO BE RECORDED IN FUND 2000
-- Reference Commissioner Memo # FIN-09-047
11110 - Property Taxes, Current
11115 - Property Tax Relief, Current
11120 - Property Tax – 40% P.B.
11125 - Property Tax Relief – 40% P.B.
11140 - Property Tax, Delinquent
11150 - Excess Commission
11160 - Land Redemption
11200 - Sales & Use Tax Dedicated To Education
11400 - Penalties & Interest on Taxes
11500 - Interest on Unapportioned Property Taxes
21100 - County General Apportionment
(Definition: Per the Co. Treasurer, this is money that is collected throughout the year [1/2 of the penalty on delinquent personal taxes], and is placed in the General Fund. At the end of the year, the funds are distributed to all districts in the county based on Average Daily Membership (ADM). The funds used to come through the county Board of Education, but that no longer exists. The funds are called county general apportionment.)
31101 - Foundation Funding
31102 - Enhanced Educational Funding
31103 - 98% Tax Collection Guarantee
MISCELLANEOUS FUNDS REVENUE:
12800 - Revenue In Lieu Of Taxes
21200 - Severance Tax
28000 - Revenue In Lieu Of Taxes
41200 - Wildlife Refuge Funds
41300 - Revenue In Lieu Of Taxes
42100 - Federal Forest Reserve
42200 - Federal Flood Control
42300 - Federal Mineral Rights
42400 - Federal Grazing Rights
42500 - Federal Impact Aid
48000 - Revenue In Lieu Of Taxes
If a district desires a FUND/SOF other than 2000 to separate expenditures by fund source for whatever reason for revenues listed above, then that source must be in range 2100-2199. Expenditures for all above revenue to be reported to the legislature will be pulled from funds 1000; 1100-1199; 2000; 2100-2199. (Example: If a district gives each campus a source of fund for budgeting purposes, then those FUND/SOFs would have to be in range 2100-2199. A transfer would be made from fund 2000 to sources 2100 to 2199 to zero out negative balances. Revenue will not be receipted in funds 2100-2199.)
Transfers allowed from fund 2000 to salary fund 1000.
Transfers allowed from fund 2000 to 2100-2199.
Transfers allowed from funds 2100-2199 to funds 1100-1199.
Transfers allowed from funds 2100-2199 back to fund 2000 (example might be cashing in of a CD and the need to transfer it back to fund 2000).
NO REVENUE OTHER THAN THE ABOVE SHOULD BE RECORDED IN FUND/SOF 2000
2. FUND 2001 will be the new ‘OTHER GENERAL OPERATING FUND’ (Non-Foundation) for receipting general unrestricted revenue formerly receipted to fund 2000 (basically local revenue code ranges 13000-19999, and all other general, unrestricted state revenue in the 30000 code range formerly receipted to fund 2000).
FUND RANGES 2002-2099 ARE RESERVED FOR DISTRICT-DEFINED RESTRICTED FUNDS.
Transfers will be allowed from fund 2001 to fund 1001.
Transfers will be allowed from funds 2002-2099 to funds 1002-1099.
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Instead, Arkansas Education Service Cooperatives may continue to utilize funds 1000-2999 as in the past.