State Aid Finance

2005 - Update from State Aid Finance

• NEW ACCOUNTANT TASK FORCE
• NEW PAYMENT TECHNICIAN IN SALT
• NEW SAAS REPORTS
• ADVANCES
• TOWN BRIDGE FUNDS
• SPECIAL TOWN BRIDGE
• NEW TRAINING REQUEST FORM
• TRAINING CRITIQUE
• ANNUAL REPORT
• SAAS SYSTEM SIGN-ON CHANGES
• SINGLE AUDIT COMPLIANCE REQUIREMENTS - FY 2004
• ANNUAL MAINTENANCE EXPENDITURE REPORT
• REVENUE RECOGNITION
• NEW PROJECT FUNDING ACCESS DATABASE
• UNALLOCATED COSTS

   

  NEW ACCOUNTANT TASK FORCE

   

  

  Task Force Members (front from left),  Sheila Kirkwood, Paula Herring, Kathleen Bergmann, Linda Libal, Anne Zellner, Rhonda Anstine, Roger Perrizo, Bette Schweer,

  (back from left), Paul Bakker, Kim Kildal, JoAnn Kelly, Marjorie Smith, Verna Pieper, Delores Wiggens, Francis Kerber, Hank Werenicz

   

  • Link to Task Force News
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    NEW PAYMENT TECHNICIAN IN SALT

     

    We are pleased to announce the appointment of Kim DeLaRosa. Kim replaces Brad Kennedy as the new payment technician. Brad was promoted to the Office of Financial Operations. Kim's phone number is 651-296-2440; discontinue using telephone number 651-296-9974.

     

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    NEW SAAS REPORTS

     

  • Bond Applied Projects

    Shows projects that have been applied against a bond issue

     

  • Bond/Loan Schedule of Principal & Interest Payments

    Shows entire Bond/Loan Principal & Interest Payments

     

  • Bond Principal & Interest Due (by Calendar Year)

    "Under Construction" because it includes only outstanding Principal & Interest due, rather than all Principal & Interest due in a calendar year.

     

  • Aging Report

    Lists all open projects in SAAS.   Projects remain on this report until all obligations are marked final in SAAS.
    By project type - SAP (State Aid), SP (Federal), or ALL (both).
    Some fields are populated from SALT's Project Tracking System; Project Type, Project Number, Letting Date and Plan Approval Date.

     

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    ADVANCES

     

    Need for redefining advance guidelines with a more dynamic approach due to continually changing fund balances.

     

    • New guidelines written by code levels.

      If financial positions change; fund balances increase or decrease due to higher or lower expenditures, code levels can be changed without writing new guidelines.

    • Currently Counties are in code level BLUE - GUARDED

      Fund Balances low
      Use Pain-O-Meter Process
      Advances approved on case-by-case basis
      Resolution Required
      New guidelines being used in Mn/DOT only.   Will not be distributed to local governments until 2006 when financial position is determined for the new calendar year.

     

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    TOWN BRIDGE FUNDS

     

  • Funds are still available for advancement.

     

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    SPECIAL TOWN BRIDGE

     

  • Funds are still available.
  • Contact Patti Simmons, State Aid Programs Engineer for more information, 651-296-7679.

     

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    NEW TRAINING REQUEST FORM

     

  • Required prior to training.
  • Link to Training Page

     

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    TRAINING CRITIQUE

     

  • Required once training is complete.
  • Be sure to fill out critique completely.
  • Link to Training Page

     

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    ANNUAL REPORT

     

  • We only need ONE COPY of your annual report.  We prefer the full version if you do it, but the summary is fine if that is all you complete.   Send them to Sandra Martinez in State Aid Finance.

     

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    SAAS SYSTEM SIGN-ON CHANGES

     

    Minor changes to sign-on process, will occur in 2 - 4 weeks.

    • Logon-ID no longer needed, password will be required

      Information will be sent out before changes are made.

     

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    SINGLE AUDIT COMPLIANCE REQUIREMENTS - FY 2004

     

  • Finding IX - Procedures for approving delegated contract process (DCP) supplemental agreements (SA's) require clarification.

    - DSAE's SHOULD NOT be signing "DCP" SA's

    This is only for DCP's, not traditional contracts when Mn/DOT is paying the contractor.

     

  • Finding XI - Need to pay contractors for completed work on a timely basis for state aid projects.

    - Standard Specifications for Construction, Spec 1906

    "At least once a month at regular intervals, the Engineer will prepare an estimate of the value of the work completed to date."

    Be sure to pay contractors at least once a month.

     

  • Click here to download attachments

     

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    ANNUAL MAINTENANCE EXPENDITURE REPORT

     

  • Revising form to include FEMA refunds and Maintenance Facilities.

    Accounting Task Force will review this issue at the June 22nd Meeting.

    • Link to June 22, 2005 Accounting Task Force Meeting

     

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    REVENUE RECOGNITION

     

  • Decision from Accounting Task Force - continue recognizing revenue during the year the same way we have always recognized it, matching the revenue to the expenditure.

    Year-end and Begin Year adjustments required for Advances.

    • Link to State Aid Accounting Manual

     

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    NEW - PROJECT FUNDING ACCESS DATABASE

     

  • New database for tracking State Aid Receivables, Contracts Payable, and Estimated Revenues.
    • Click here to download database
    • Click here to download database instructions
    • Contact Mike Kilanowski for details

     

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    UNALLOCATED COSTS

     

  • Accounting Manual has been updated.

    • Link to State Aid Accounting Manual

     

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