BUDGET SUPPLEMENT CARRYOVER
INSTRUCTIONS
The budget carryover should be submitted for approval by the end of October. Each
county must submit a carryover supplement for each fund maintained by the Board during
the prior fiscal year. Information on the carryover supplement must agree to the figures
presented in the annual financial statements. (WVDE 11-10-10)
The attached combined balance sheet and budget carryover entry illustrate the carryover
for the general current expense, special revenue and ARRA funds.
The figures in the fund balance section on the combined balance sheet are supplemented
into the subsequent year’s budget for each fund. The amount of estimated fund balance
used in the proposed budget ($100,000) is subtracted from the unassigned fund balance
off the financial statements and the OPEB liability is added to the unassigned fund balance
to arrive at the carryover supplement amount for that account.
The budget carryover entry shows the fund balance account balances are credited and the
individual expenditure accounts are debited to offset those amounts. The unassigned fund
balance may be offset by an entry to Reserved for Contingencies in part or in total.
In addition to the fund balance section, the reimbursements receivable in the special
revenue funds are re-budgeted in order to track incoming revenues in the subsequent year.
Budget Carryover Instructions.wpd
SAMPLE BUDGET CARRYOVER ENTRY FOR FY 12
Dr. 11.XXYXX.XXXXX.XXX
Cr. 11.00000.00772.007
Various expenditures
Unassigned Fund Balance
30,448
30,448
From Outstanding Encumbrance Report - the encumbrances could not
be reported as assigned because it would have caused unassigned to
be negative.
Dr. 11.XXYXX.XXXXX.XXX
Cr. 11.00000.00771.007
Various expenditures
Committed fund balance
10,000
10,000
Dr. 11.XXYXX.XXXXX.XXX
Various expenditures
170,557
Cr. 11.00000.00772.007
Unassigned fund balance
170,557
(or you could budget this to reserved for contingency, 76321.842 and transfer to specific line items later)
Formula: (285,802) + 586,807 - 100,000 -30,448 = 170,557
Total for Fund 11
Dr. 61.XXYXX.XXXXX.XXX
Cr. 61.00000.00752.007
Various expenditures
Restricted Fund Balance
211,005
211,005
149,168
149,168
From Outstanding Encumbrance Report - the encumbrances could not
be reported as assigned because encumbrances of restricted funds are
included in restricted fund balance.
Dr. 61.00000.00752.007
Cr. 61.41YXX.04511.009
Cr. 61.43YXX.04511.009
Cr. 61.74YXX.04511.009
Restricted fund balance
Title I receivable
IDEA Part B receivable
GEAR UP receivable
368,537
Dr. 61.00000.00752.007
Cr. 61.47311.04511.009
Restricted fund balance
122,667
145,800
74,620
148,117
JOBS outstanding encumbrance
for which no corresponding
revenue could be recognized
Formula: 26,501 -149,168 = (122,667)
Total for Fund 61
122,667
640,372
640,372
Dr. 71.XXYXX.XXXXX.XXX
Cr. 71.00000.00752.007
Various expenditures
Restricted Fund Balance
13,323
13,323
From Outstanding Encumbrance Report - the encumbrances could not
be reported as assigned because encumbrances of restricted funds are
included in restricted fund balance.
Dr. 71.00000.00752.007
Cr. 71.41YXX.04511.009
Cr. 71.43YXX.04511.009
Restricted fund balance
Title I receivable
IDEA Part B receivable
Dr. 71.00000.00752.007
Cr. 71.41YXX.04511.009
Restricted fund balance
310,432
201,553
108,879
13,323
Title I outstanding encumbrance
for which no corresponding
revenue could be recognized
Formula: 0 -13,323 = (13,323)
Total for Fund 71
13,323
337,078
337,078
SAMPLE COUNTY, WEST VIRGINIA, BOARD OF EDUCATION
BALANCE SHEET - GOVERNMENTAL FUNDS AS OF JUNE 30, 2011
NOTE: $100,000 was budgeted as undesignated fund balance in the proposed budget for FY 12
General
Current
Expense
ASSETS
Cash and cash equivalents
Investments
Deposit with Workers Compensation
Taxes receivable, net
Food service receivable, net
Other receivables
Due from other governments:
State aid receivable
PEIA allocation receivable
Reimbursements receivable
Due from other funds
Total assets
$
$
$
$
$
310,432
AY
368,537
2,362,861
$
633,979
$
310,432
1,512,356
586,807
607,477
2,638,663
607,477
10,000
(285,802)
(275,802)
2,362,862 $
26,501
26,501
633,979
W
182,214
$
General Current
Expense Fund
30,448
310,432
310,432
(0)
$
(0)
310,432
Special Revenue ARRA Special
Fund
Revenue Funds
149,168
$
$
357,286
Outstanding Encumbrance Listing
N
223,995
41,447
EW
Nonspendable
Restricted
Committed
Assigned
Unassigned
Total fund balances
TOTAL LIABILITIES AND FUND BALANCES
Total
Governmental
46,979
Liabilities:
Salaries payable and related payroll liabilities
Other post employment benefits payable
Fund Balances:
$
ARRA
Projects
Fund
201,810
LIABILITIES AND FUND BALANCES
PEIA premiums payable
Accounts payable
Deferred revenue
Cash overdraft
Total liabilities
2,114,072
Special
Revenue
Fund
13,323
2,338,067
201,810
41,447
46,979
678,969
3,307,272
1,512,356
586,807
357,286
789,691
310,432
3,556,572
26,501
10,000
(285,802)
(249,300)
SAMPLE COUNTY, WEST VIRGINIA, BOARD OF EDUCATION
BALANCE SHEET - GOVERNMENTAL FUNDS AS OF JUNE 30, 2010
NOTE: $100,000 was budgeted as undesignated fund balance in the proposed budget for FY 11
General
Current
Expense
ASSETS
Cash and cash equivalents
Investments
Deposit with Workers Compensation
Taxes receivable, net
Food service receivable, net
Other receivables
Due from other governments:
State aid receivable
PEIA allocation receivable
Reimbursements receivable
Due from other funds
Total assets
$
223,995
Total
Governmental
$
46,979
2,338,067
201,810
41,447
46,979
$
2,362,861
678,969
3,307,272
$
$
1,512,356
586,807
41,447
368,537
$
633,979
310,432
$
310,432
AY
Liabilities:
Salaries payable and related payroll liabilities
Other post employment benefits payable
$
$
357,286
W
182,214
LD
Fund Balances:
Reserved for:
Encumbrances
Debt service
Arbitrage payments
Excess levies
Capital projects
Unreserved:
Designated
Undesignated
Total fund balances
TOTAL LIABILITIES AND FUND BALANCES
$
ARRA
Projects
Fund
201,810
LIABILITIES AND FUND BALANCES
PEIA premiums payable
Accounts payable
Deferred revenue
Cash overdraft
Total liabilities
2,114,072
Special
Revenue
Fund
$
607,477
310,432
310,432
30,448
149,168
13,323
10,000
(316,250)
(275,802)
2,362,862 $
357,286
789,691
310,432
3,556,572
607,477
2,638,663
(122,667)
26,501
633,979 $
192,939
10,000
(452,239)
(249,300)
(13,323)
(0)
310,432
17,178,967
O
Amounts reported for governmental activities in the statement of net assets differ due to:
Capital assets used in governmental activities are not financial resources and, therefore,
are not reported in the funds
Deferred charges are not reported in the funds
Property taxes receivable and food service billings receivable will be collected this year but are not available soon enough to
pay for the current period's expenditures, and are therefore deferred in the funds
Long-term liabilities, including bonds payable, are not due and payable in the current period and,
therefore, are not reported in the funds
Bonds payable, due within one year
Bonds payable, due beyond one year
Accrued interest on bonds
Capital leases payable
Accrued sick leave payable
Compensated absences
Net assets of governmental activites
See Notes to Financial Statements
1,512,356
586,807
795,463
$
(165,000)
(555,000)
(131,298)
(34,835)
16,838,998