Taxes District Business & Advisory Service (DBAS) October 23, - - PowerPoint PPT Presentation

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May 14, 2023 237 likes •354 views

Taxes District Business & Advisory Service (DBAS) October 23, 2019 Content Recording Taxes in Districts Books Basic Aid Status Determination Projecting Property Tax Using Schedule B SCCOE: Equity | Diversity | Inclusion |

SLIDE 1

Taxes

District Business & Advisory Service (DBAS) October 23, 2019

SLIDE 2

Content

Recording Taxes in District’s Books
Basic Aid Status Determination
Projecting Property Tax Using Schedule B

2 SCCOE: Equity | Diversity | Inclusion | Partnership

SLIDE 3

How taxes are recorded?

County Controller email journal entry to DBAS

according to Property Tax Distribution Schedule

DBAS records the journal entry in QCC general

ledger (GL) to match County Controller (GL) (dependent districts only)

A copy of the TF report and backup journal

entry is sent to district for record

SCCOE: Equity | Diversity | Inclusion | Partnership 3

SLIDE 4

County Controller Journal Entry

SCCOE: Equity | Diversity | Inclusion | Partnership 4

Controller GL Account Cost Center Debit (40) /Credit (50)

SLIDE 5

Chart of Accounts

SCCOE: Equity | Diversity | Inclusion | Partnership 5

Regular Tax Debt Service RDA

SLIDE 6

Basic Aid Status

Aka Excess tax school entity
A district can change from non‐basic aid to

basic aid or vice versa

The School District LCFF Calculation exhibit at

P‐1 may include Basic Aid Status

SCCOE: Equity | Diversity | Inclusion | Partnership 6

SLIDE 7

Basic Aid Determination

SCCOE: Equity | Diversity | Inclusion | Partnership 7

Transition Entitlement ‐ Local Revenue (Property Tax) ‐ Categorical Minimum State Aid If Positive = Non‐Basic Aid If Negative = Basic Aid

SLIDE 8

Basic Aid Determination Exercise

Obtain the School District Transition

Entitlement Calculation exhibit from CDE website

Download into Excel spreadsheet
Line F‐1 minus F‐2 and G‐9
If negative = Basic Aid Status

SCCOE: Equity | Diversity | Inclusion | Partnership 8

SLIDE 9

Recommended Property Tax Data To Use For Reporting Period

November Quarterly meeting Schedule B for

First Interim projection

February Quarterly meeting Schedule B for

Second Interim projection

May Quarterly meeting Schedule B for Budget

Adoption

SCCOE: Equity | Diversity | Inclusion | Partnership 9

SLIDE 10

DBAS Contacts

Ann Redd Ann_Redd@sccoe.org
Susan Ady Susan_Ady@sccoe.org
Rema Kumar Rema_Kumar@sccoe.org
Yen Lam Yen_Lam@sccoe.org
Shanny Yam Shanny_Yam@sccoe.org

SCCOE: Equity | Diversity | Inclusion | Partnership 10