School Finance

Welcome to MSBO’s school finance resource page. We try to provide the information you need, but ask that you let us know if you can't find what you're looking for. Please forward any questions or comments to David Martell at dmartell@msbo.org. Thank you.

403(b) Information

403(b) Tax-Sheltered Annuities Information, including new IRS model plan language. (11/28/07)

Dynamic Budget Projections

Dynamic Budget Projections Version 2008 is now available. DBP is an exciting new tool offered by MSBO for school districts to use for financial forecasting. The program was designed exclusively for Michigan school districts and is available for purchase only through MSBO. It is a financial model that provides multi-year budget projections in an Excel template.

Fund Balance Information

• House Bill 5963 (3/25/10)
• House Fiscal Agency Analysis HB 5963 (3/25/10)
• Fund Balance by District (3/25/10)
• MSBO Fund Balance Guidelines (3/25/10)
• Fund Balance, Current Operating Expenditures, and Fund Balance as a percent of COE for the years 1990 through 2008 in an Excel spreadsheet (prepared by MDE). (4/13/09)
• MSBO guidance (pdf) on the establishment and use of fund balance, also known as fund equity. (3/18/10)

GASB 34

• GASB No. 34 Tools

Headlee Override Ballot Information

• Suggestions for describing a Headlee election to voters (pdf) as provided by Charlotte Public Schools. Bob Thrun, Thrun Law Firm, P.C., reviewed and blessed this presentation. Politicized words have been removed. Information was printed on a 3 x 5 card for easy distribution. You will need to insert your own factual information. See your election attorney for help. For more information, e-mail Don Sovey, Charlotte Public Schools. (4/5/07)

Health Insurance

• Sample Health Claims Data Request Letter (to MESSA) (5/22/08)
• Health Insurance Survey Results (3/28/06)
• MESSA Rating Area Update for 2006-2007

MPSERS

• ORS Web Reporting E-mail Memo 3/18/10 (4/16/10)
• Letter announcing the contribution rate that is effective October 2007 from Michigan Department of Management and Budget (2/12/07)
• Letter explaining the FY2008 Revaluation of MPSERS Assets from the Michigan Office of the State Budget (2/12/07)
• Financing Michigan Retired Teacher Pension and Health Care Benefits prepared by the Citizens Research Council, September 2004 (9/11/06)
• Rate Comparison Chart:1995-1996 through 2010-2011 (4/1/10)
• Rate History: 1995-1996 through 2010-2011 (4/1/10)
• Senate Fiscal Agency Analysis of MPSERS Revenue Changes and Retirement Costs” (July 2006) (9/7/06)

Policies & Procedures

• Federal guidelines and State guidelines for state and local public health and school officials to respond to 2009 H1N1 influenza in schools. (8/31/09)
• FY2010 Competitive Bid Threshholds established by MDE (2/23/10)
• FY2009 Competitive Bid Threshholds established by MDE (10/6/08)
• MDE links to all 57 ISD required Web site reports. Each ISD must maintain the accuracy of this site and the links to the ISD. If documents are moved within your ISD Web site, contact Glenda Rader (517/335-0524) so that MDE's link can be updated.
• Charitable Gaming (Bingo, Raffle, Annual Charity Game, etc.) information from the Michigan State Lottery. Includes application forms, regulations, financial statements, publications and more.
• Fixed Assest Management Policy (pdf)
• Fund Raiser Packet (Word), given to every building for the procedure book. Courtesy of Algonac Public Schools, 2003
• Fund Raisers (Additional Controls) (Word) to hand out before each fund raising activity. Courtesy of Algonac Public Schools, 2003
• Holiday Decorations (including Christmas trees) from MDE

Resources

• Fast Facts About Michigan Public Schools (5/13/10)
• Election schedule for 2009 and 2010, published by Department of Treasury. (11/24/08)
• The Basics of the Foundation Allowance FY 2007-08 by the House Fiscal Agency
• Investment of Bond Proceeds with helpful information relating to the investment of bond proceeds by Michigan school districts. (10/20/05)
• Grant Auditor Reports for year ending March 31, 2007 and June 30, 2007 (9/11/07)
• School Auditing Manual for 2006-2007 (5/17/07)
• Working After You Retire, information on employment restrictions or earnings limitations provided by MDE. (10/24/06)
• Michigan Live Births by Age and Race of Mother, by city, county, or state, published by the Michigan Department of Community Health. (10/24/06)
• State Aid Status Reports by MDE from April 2003, listed by ISD. (10/24/06)
• List of Educational Forms, Data Systems and Submission Deadlines with forms listed by program and due date and data systtems listed by submission date. (10/24/06)
• Facts about Michigan's Minimum Wage Law perpared by the Michigan Department of Labor & Economic Growth, July 2006 (10/12/06)
• Local Unit Audit Reports (2004) compiled by the Michigan Department of Treasury and listed by county
• Foundation Allowance Amount History, State of Michigan
• Determining Lawful Expenditures (Michigan Department of Treasury). Do a search/find on this page for “Unlawful Expenditures”. You will note that this information is presented as part of the audits of Local Units of Government and there is little reference to schools throughout this whole document. There is no reference to “Unlawful Expenditures” in the 2005-06 Michigan School Auditing Manual. See the note at the bottom to treat this as a “guide” and to seek your legal counsel’s advice on this subject.

Records Retention Information (9/24/08)

• State of Michigan Records Management Services (Web)
• Model Records Retention Policy (Word document)
• Basic Records Management
• IT Discovery Questions
• Record Retention and Disposal Schedule for Michigan Public Schools
• Governmental Accounting Focus: Estimating useful lives for capital assets
• Government Technology: Solutions for State and Local Government in the Information Age
• Consumer Price Index
• Michigan State Tax Commision Bulletins
• Qualifying Statement Approval and Denial Information from the Michigan Department of Treasury, select "Qualifying Statement Status" from the list and follow the instructions.
• Property Taxes/Taxable Value. Current taxable value information. Search by school district code and tax year. Replaced forms DS-4410-C.
• School Safety Legislation (1/31/06)

• House Bill 5675, effective March 31, 2006 (2/27/07)
• House Bill 4928, effective January 1, 2006 (2/27/07) The Michigan State Police has improved its Michigan Public Sex Offender Registry (PSOR) so you can receive e-mail alerts of offenders that move into your community. It is now possible to search by school district.
• Criminal History Checks & Conviction Information provided by MDE (10/24/06)
• School Safety Legislation, letter from Clark Hill, PLC to MSBO (1/31/06)
• Safety Legislation Advisory, letter from MASB to Superintendents and Boards of Education (1/31/06)
• Safety Legislation Analysis, memo from Clark Hill, PLC to MSBO (1/31/06)
• Safety Legislation Implementation Plan (1/31/06)
• MDE Notification Letter Guidlines, submitted by Rebecca Rocho, Calhoun ISD (1/31/06)
• Sexual Offender Registry Act of 1994 (1/31/06)

School Employment Law Manual

MSBO partnered with Miller, Canfield, Paddock and Stone P.L.C. to offer a Michigan School Employment Law Reference Manual. It is designed especially for use by MSBO members. The Manual is on a searchable CD and will be updated annually. The price is $100 and can be ordered at any time using the Order Form or by purchasing online.

School Accounting Manual

• Michigan Public School Accounting Manual
• Accounting and Fiscal Reporting Requirements for Intermediate School District Use of Special Education Funds
  This 43-page manual (pdf) helps ISDs be in compliance with the laws governing their Special Education Fund.

School Aid Act and Revised School Code

2008-09 School Aid Bill
As passed by the Conference Committee as of July 17, 2008

Listing of K-12 Estimated Proposed Foundation Allowances by District
Senate Fiscal Agency Bill Analysis
House Fiscal Agency Bill Analysis
Section By Section Highlights
Full Text of State Aid Act noted as Conference Report CR-1

2007-2008 School Aid Bill
PA 137 of 2007 (12/3/07)

• Gov. Granholm's Veto of Section 77
• Section-by-Section Highlights
• Detailed Marked-up Bill
• House Fiscal Agency Summary
• Estimated Impact by District

School Budget Information

Letter to Board Presidents and Superintendents regarding action on school funding. (2/27/07)

Uniform Budget and Accounting Act

• Michigan's Fiscal Year 2008 Executive Budget (2/27/07)
• "Michigan's Defining Moment: Report of the Emergency Financial Advisory Panel" (20 pages-February 2007) and the resources and reference list (10 pages, about 45 KB) (2/2/07)
• Business Official Communication (7/31/06)
• Uniform Budgeting & Accounting Act (PA 2 of 1968) (7/31/06)
• Cover letter sent to Superintendents and Board Members (7/31/06)

Sinking Fund

• Sinking Fund Determination Letters detail hundreds of Michigan school sinking fund expenditures, both allowable and non-allowable.
• MSBO Sinking Fund Report (pdf) - This MSBO-sponsored report helps to clarify the misconceptions about Sinking Funds.Sinking Fund and Bonded Construction Fund information and audit guide.

Task Calendar

• Business Office Task Calendar Sample (Excel) (4/17/07)

Universal Service Funds (USF)

• Michigan's E-rate

Miscellaneous

• Cost Containment and Reduction Ideas from districts around the state are being compiled by MSBO. (Updated 8/31/09)
• The All-Day Kindergarten Survey conducted by MSBO found that districts are worried about the additional expense of increasing the hours of instruction for kindergarten students beginning in the 2009-10 school year. David Martell's Podcast with Inside Michigan. (1/14/09)
• Historical Blended Pupil Memberships (12/12/07)
• Michigan Withholding Tax Information, including the House Bill and Withholding Tables for the period October 1 through December 31, 2007 (10/2/07)
• Corporation Search for records of corporations, limited liability companies, and limited partnerships authorized to transact business in the State of Michigan (7/26/07)
• Uniform Unclaimed Property Act (Act 29 of 1995), which addresses unclaimed property (including income), the conditions for abandonment and required procedures. (10/24/06)
• School Business Management Professional Standards and Code of Ethics (prepared by ASBO) (3/27/06)
• Report on the Feasibility and Cost-Effectiveness of a Consolidated State-wide Health Benefits System for Michigan Public School Employees (8/6/07)
• This report, prepared by the Hay Group, highlights three cost-saving options.
• FAQ for Michigan Public School Accounting Manual Coding (Updated 7/05 from MDE)
• Michigan Census Data from the year 2000
• Education Acronyms (12/3/07)
• Fiscal Year 2003 (Tax Year 2002) LEA Millage Rates for Michigan School Districts as compiled by MDE.
• HIPAA Q & A (pdf)
  Learn important information about the Health Insurance Portability and Accountability Act (HIPAA).
• Asset Inventory and Appraisal Request for Proposal (pdf)

School Finance-Related Links