Page 24 - School Finance Manual 2023-24

How Budgets are Categorized cont. 24

Building Renewal Grant - Fund 691 Employee Insurance Withholding -
The School Facilities Oversight Board distributes the Fund 855
Building Renewal Grant Fund. This fund consists of Employee Insurance Program Withholdings- Accounts
monies requested by school districts from the School for monies received from employees, monies contrib-
Facilities Oversight Board to maintain the adequacy of uted by a district, and monies received from former
existing school facilities. employees, current and former board members, and
board members’ surviving spouse and dependents, to
New School Facilities - Fund 695 be used for the payment of insurance premiums.
This fund is administered by the SFB and has been
established for the purpose of constructing new schools Proprietary Funds
to meet the minimum adequacy guidelines. The criteria to
determine district eligibility for monies from the new school Internal Services - Funds 950 - 989
facilities fund is based on annual evaluation and approval These funds are used to account for
of district enrollment projections, and the additional revenues and expenditures relating to providing
square footage that will be needed to maintain adequacy services to other school functions, other school districts,
standards in a district. The or governmental units. The revenues from the oper-
School Facilities Over- A school district is ation of a district services program shall be trans-
sight Board distributes new the custodian for mitted to the county treasurer for deposit in the
school facilities monies to monies raised by the district Internal Services Fund. Districts may employ
school districts based on the efforts of students personnel, purchase supplies and equipment and
following formula: (number of in connection with incur other necessary expenses related to the oper-
students) x (square footage) activities of student ation of a district services program. Monies in these
x (cost per square foot) = organizations and funds are not subject to reversion at the end of the
allocation. Land costs are fiscal year.
funded in addition to formula clubs.
funding for new construction.
Intergovernmental Agreements -
Debt Service - Fund 700 Fund 955

This fund accounts for the accumulation of property tax
revenues for the purpose of making payments on long- This fund is used by a fiscal agent to account for monies
term debt principal, interest, and related costs. of an intergovernmental agreement (IGA). Revenues
include amounts received from participants.

Impact Aid Revenue Bond Building Debt The USFR Identifies Other Funds that can be established
Service - Fund 720 by school districts (Not an inclusive list; refer to USFR for
Accounts for the accumulation of impact aid monies for others)
1. Career and Technical Education and Vocational
the payment of long-term debt, principal, interest and Education Projects - Fund 535
related costs. See Impact Aid Revenue Bond Building 2. Fingerprinting - Fund 540
– Fund 639
3. Litigation Recovery Fund - Fund 565
4. Teacherage - Fund 580
Other Funds 5. Insurance Refund - Fund 585
Student Activities - Fund 850 6. School Plant Fund Special Construction - Fund 640
Pursuant to A.R.S. §15-1121, §15-1122, §15-1123, and 7. Gifts and Donations (for capital purposes) - Fund 650
§15-1124 a school district is the custodian for monies 8. Condemnation - Fund 660
raised by the efforts of students in connection with 9. Trust Funds - Funds 801-849
activities of student organizations and clubs. 10. Enterprise Funds - Funds 901-949

Arizona Association of School Business Officials | School Finance Summary Manual