District Financial Reporting

Fund Balances, Revenues and Expenditures, Chart of Accounts and Indirect Cost Rates

Published: 7/8/2019 11:05 AM

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Annual Fund Balance Reports
The Fund Balance reports show what percentage of a district's general fund dollars remain at the end of the year. In committed, assigned and unassigned fund balance.
Annual Financial Revenues and Expenditures
Annual Financial Revenues and Expenditures capture revenue and expenditure data as of the end of the fiscal year. The documents listed summarize that data.
District Level
Chart of Accounts
The Chart of Accounts structure is made up of codes within segments.  The segments are fund, unit, function, program, instructional level, object, and project.  The codes identify the particular fund, unit, function, etc.  The structure is designed for use in computerized accounting systems and spreadsheets.  The inherent flexibility for reporting and budgeting is the most attractive feature.  Data may be selected for reporting and analysis by any segment or set of segments.  Selection of one fund or one function across all funds is possible. 
Beginning with 2014-15 projects, the fourth digit of the project code will be a letter to identify the fiscal year with A representing 2014-15, B representing 2015-16, C representing 2016-17, and so on.
Due to the implementation of MUNIS v10.3 which includes “database normalization”, additional time-consuming procedures would be necessary to continue to re-use project codes as has been done in the past.  In an effort to reduce the burden on district staff, KDE is changing the numbering convention for project codes to an alpha character.
The latest revision of KDE's COA is effective July 1, 2018.
Helpful Links:
Indirect Cost Rates
Please find the web link below to access your district’s indirect cost calculations. The method used to calculate indirect costs is called the “predetermined” method, which requires a 10% reduction in the rate to allow for changes and fluctuations from year to year. The calculation is performed electronically using numbers reflected in your district’s Annual Financial Report from two years prior and any adjustments made by your district via the SEEK web form Indirect Cost Adjustments (adjustments do not change the AFR data submission for other calculations).

The indirect cost rate calculations and procedures for applying rates to actual expenditures to recover indirect costs from federal programs are described in the Indirect Cost Guidelines document below.

The non-restricted indirect cost rate is for use with food service and the restricted indirect cost rate is for use with grants. Both, the non-restricted and restricted Indirect Cost Rates can be viewed by selecting the district and scrolling to the bottom of the report.

If you have questions pertaining to your indirect cost rates, please contact KDE.

Karen Conway
Office of Finance and Operations​
Division of District Support
300 Sower Blvd., 4th Floor
Frankfort, KY 40601
(502) 564-3846 Ext. 4435
Fax (502) 564-6771
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