|Houston School District Receives MDE 2015 School Finance Award|Houston School District Receives MDE 2015 School Finance Award
Houston Public Schools, ISD 294, has received the Minnesota Department of Education 2015 School Finance Award.
The School Finance Award is awarded annually by the Minnesota Department of Education (MDE), Division of School Finance, to recognize schools for meeting statutory deadlines for submission of audited fiscal financial data and reporting criteria.
Director of Finance Gwen Rostad shares her feelings about the award: "As a district, it is an honor to receive this award. It is evidence of the commitment to the financial health of the school district shown by the School Board, Superintendent and staff."
Criteria for the School Finance Award are:
According to Houston Public School's Superintendent Krin Abraham, "This award is a testament to the skill and diligence of Gwen Rostad, Director of Finance."
A. Timely Submission of Financial Data and Compliance with Minnesota Statutes
• UFARS data is submitted to MDE by September 15,2014
• Final audited UFARS data is submitted to MDE by November 30, 2014
• Fiscal Compliance Table is completed and error-free by November 30, 2014
• Audited financial statement is submitted to MDE by December 31, 2014
• District/school uses state-approved financial software
B. Presence of Select Indicators of Fiscal Health
• The district/school has a zero or positive balance in the General Fund Unassigned Fund Balance Account 422.
• The district/school has a zero or positive aggregate fund balance in each of the Funds 2, 4 and 7.
• The district has positive or zero balances in Restricted/Reserved Fund Balance Accounts having statutory requirements to maintain a positive or zero balance.
C. Accuracy in Financial Reporting
• The district/school’s final UFARS Turnaround Edit Report has no errors.
• The district/school’s final audited UFARS data agrees with the independent audit data.