End-of-year financial data reporting due in MEDMS

Financial data for FY 2012-2013 budgets, as well as FY 2011-2012 actual year-end expenditure, revenue and balance sheet data should be uploaded to the MEDMS Financial System by Friday, August 24, 2012.

These files should contain all transactions for the General fund, Special Revenue funds, ARRA Federal Stimulus funds, Major Capital funds, Minor Capital funds and School Nutrition funds.  All year-end actual files, encompassing financial transactions from July 1, 2011 through June 30, 2012, should be submitted to MEDMS Financial under Quarter 4 and must be error-free, approved and certified via MEDMS Financial.

These requirements, as well as additional information regarding FY 2012 year-end actual data submissions and FY 2013 budget submissions, are summarized on our website at the following link: http://www.maine.gov/education/medms/financialinfolist.html.

Additionally, several reports are available via MEDMS Financial to facilitate reconciliation and verification of your certified financial data.  These reports are available by selecting the report menu and choosing “Budget to Actual,” “Balance Sheet by SAU,” “Revenue by SAU” and/or “Expenditure by SAU.” All of these reports may be downloaded as Excel files so that you may sort the data in a way that facilitates your review.  These reports should also be provided to your audit firm by your business office.

Should you need clarification regarding the year end financial data submission, please contact Joanne Allen, School Finance and Compliance Supervisor at joanne.allen@maine.gov.

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