LCFF, Changing Accounts, and You
What an exciting time to be a part of school business in California! With the new Local Control Funding Formula (LCFF) method of funding education (goodbye revenue limit funding formula) there are sure to be many changes ahead. I’ve been attending the School Services of California budget workshops and reading the Fiscal Report Articles, hoping to stay on top of the changes so the Escape team can be prepared to answer your questions and make your jobs easier. But I have to admit that it’s a bit overwhelming for me, with the delay in information regarding changing resources and what kind of accountability will be required, to get a grasp on what will best help our customers.
“The continued support from Escape during changing times is comforting!” ~ Debbie Towne, Director of Business Services
At this time we’ve made no changes to the software. We know that many restricted resources will be changing and combining into unrestricted resources; however, changing multiple resources to one resource could create duplicate accounts. While we continue to gather information, we recommend that for now customers use the SACS Rollup Value field in the account component record. These accounts would then all roll up into the designated resource when reporting to SACS. Let’s say you want Resources 0020, 0021, 0022, 0023, and 0024 to change to resource 0000. You would set up the resources to roll up to 0000. Then the five accounts you see below would roll up into Resource 0000 for SACS reporting purposes. You can see here that if we were to change the resource for these accounts to 0000, you'd then have five of the exact same account: 01.0000.0.4300.00.1130.1000.102.72.000.00. The changing or ending of resources is best done when preparing for a new fiscal year, before any of the accounts have been created and used. We have several reports that can be run based on the SACS rollup values: Fiscal01, Fiscal11, Fiscal12, Fiscal13, Fiscal16, Fiscal18, Fiscal26, Fiscal27, and Fiscal91. You know that scene in Jerry Maguire when Tom Cruise is yelling out, "Help me, help you. HELP ME, HELP YOU!"? That's kind of our motto here at Escape as well. We welcome your feedback and any suggestions you have to help you best meet your accounting requirements to the state.