School Finance

Changes to FY2009-10 Trustees Financial Summary (TFS)

Monday, November 1, 2010, 12:26 pm

If you find a material coding error on your FY2009-10 Trustees Financial Summary (TFS), you may submit a revision to Rebecca Phillips in the OPI School Finance Division.  Changes to the FY009-10 TFS are limited to:  1) coding revisions between revenue and expenditure line items providing no change occurs in the fund balance of the budgeted funds, and 2) revisions in the balance sheet accounts provided no change occurs in the fund balance of the budgeted funds (see ARM 10.10.504(6)).  OPI cannot process TFS changes that affect the fund balance in a budgeted fund because fund balance is carried forward to the FY2010-11 budget, and a change in fund balance may impact the number of mills already levied in the fund.

Revisions may be submitted following these procedures:

1.  Photocopy the original page of the TFS with amounts to be revised crossed out and the correct amount written above it.

2.  When sending balance sheet account revisions, please also send any expenditure and revenue line item changes that correlate with such changes.  The fund balance on the balance sheet should equal the ending fund balance shown on the statement of revenues, expenditures and changes in fund balance report after the revisions are made.

3.  Fax the revisions to Rebecca Phillips at (406) 444-0509 or mail them to her at P.O. Box 202501, Helena MT 59620-2501.  Please submit the revisions by December 10 so that questions or problems related to processing the changes can be addressed before school districts are closed for the holiday break.

For more information, contact Rebecca Phillips, (406) 444-0783