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Contents 7 Transportation Vehicle Fund Rpt
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Form F-198 is the Budget Status Report that must be filed each month with the Office of the Superintendent of Public Instruction (OSPI). WAC 392-123-115 requires school districts to prepare monthly budget status reports for each fund and provide this report to each member of the school district board of directors at the board’s regular monthly meeting. OSPI defines the format that school districts are to use for these reports, and requires the "Annual Budget" column of the Budget Status Report to agree with the F-195 "Current Budget" column. (See details in the OSPI Administrative Budgeting and Financial Reporting Handbook.)
The report allows OSPI to monitor district monthly expenditures to see whether they match planned expenditures from the adopted annual budget. When it appears total expenditures of any fund will exceed the adopted and approved appropriation level, the district should complete action on a budget extension prior to incurring expenditures in excess of the grand total of such appropriations to avoid possible liabilities as set forth in RCW 28A.505.150.
You must choose an accounting basis when you create this report, either the Cash Basis or Modified Accrual Basis. Make your selection based on the following requirements in the OSPI Administrative Budgeting and Financial Reporting Handbook:
Cash Basis selection: School districts with under 1000 FTE students for the preceding fiscal year may use a cash basis of accounting, but there is no requirement to do so. Under this basis of accounting, revenue means the receipt of cash or non-cash donations and expenditures means the disbursement of cash or non-cash donations, except that deferred compensation must be accrued.
Fund Balance selection: School districts with more than 1000 FTE students for the preceding fiscal year must use this Modified Accrual basis of accounting. OSPI recommends it for all monthly reports, but districts with less than 1000 FTE have the option to use either one of these two methods.
Account Codes Displayed
You may select either SPI or Agency Account codes when creating the report. SPI account codes are those defined by OSPI, while Agency codes are those defined by a district. (See Maintain Agency Budget Status Descriptions for details.)
SPI Reported Funds
The Budget Status Report only reports on funds 0, 1, 2, 3, 4, and 9:
|
Fund ID |
Fund |
Abbreviation |
|
0 |
General Fund ESD |
GFE |
|
1 |
General Fund |
GFL |
|
2 |
Capital Projects |
CPF |
|
3 |
Debt Service |
DSF |
|
4 |
Associated Student Body |
ASB |
|
9 |
Transportation Vehicle |
TVF |
The Budget Status Report includes five parts, created in the following order, each reporting status of one of the following funds:
Page Updated 4/07