Arkansas Department of Education Division of Elementary and Secondary Education New Coding Requirements for FY 18 Ark. Code Ann. § 6-20-2210

Memo Information

Memo Number
RT-18-021
Memo Date
2/27/2018
Memo Type
Regulatory
Unit
Research & Technology
Regulatory Authority
Ark. Code Ann. § 6-20-2210
Response Required
NO
Attention
Federal Programs; Superintendents; General Business Manager

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Memo Text

 

Coding updates pursuant to Act 1105 of 2017: Ark. Code Ann. § 6-20-2210

 

Coding requirement effective immediately for all transfers from the general operating fund (2001) to the designated building beginning fiscal year 2018 and transferred by close of fiscal year 2018 is as follows:  The designated fund/sof for Act 1105 transfers from the legal balance funds can be transferred only to the designated/required building fund/source of fund ‘3200.’  The only revenue allowed in this fund will be transfers from the general operating fund (2001).  (Coding to transfer from Fund 2001: 2001-5200-000-000-00 69330; and revenue into fund 3200 is revenue account 52200).

Expenditure budget unit/object combinations will be added for fund 3200 as requested by the districts as long as the expenditure requests meet the expenditure requirements set forth in Ark. Code Ann. § 6-20-2210(c).

(B) Any funds transferred into the public school district's building fund under subdivision (c) (1)(A) of this section shall be used for construction, renovation, repair, or other planned building fund expenditure or project allowed within building fund coding specifications in the latest version of the annual financial report and budget expenditures fund specification of the Arkansas Public School Computer Network.  (C) If the construction, renovation, repair, or other planned building fund expenditure or project under subdivision (c)(1)(B) of this section is cancelled or revised such that the funds are no longer dedicated to the  construction, renovation, repair, or other planned building fund expenditure or project, the public school district may transfer the funds back into the fund from which the transfer was made under subdivision (c)(1)(A) of this section unless transferring the funds will result in the net legal fund balance exceeding twenty percent (20%) of the public school district's current year net legal balance revenues; or  

(2) Spending funds on, including without limitation:  

(A) Prekindergarten programs;  

(B) Remediation programs;  

(C) Career and technical education or workforce readiness programs; or  

(D) Any other program or for any other purpose authorized by law

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