The Financial Revenues report provides detailed breakdowns of a school's income for a given school year.
These data provide important insights as to how much and from where income flows to districts each school year. You can use this report to view, analyze, and compare revenue data across districts, school years, and the state, either at a general level (e.g., What were the overall revenues in my district last year?) or at a detailed level (e.g., What percentage of my school's general fund originated from federal sources last year?).
Finances can be complex, so use caution when forming conclusions. For example, districts' revenue streams can be varied. District A and District B may have similar total revenue, but District A may have a much larger grant dedicated to special education than District B. That does not mean that District B does not serve as many special education pupils; it only means that it received a smaller grant to do so.
Understanding a few basic accounting terms will help you answer your questions. A fund represents an account designated to collect money for a specific purpose. A major class represents the source of a revenue stream.
There are two Revenue reports:
- The Revenue by Source report shows the distribution of an entity’s revenue by the revenue’s origin. Here you can find, for instance, the total revenues for a district broken down by federal, state, local, and other sources.
- The Revenue by Grant or Program report shows the distribution of an entity’s revenue by the grant or program that supplied the amount. For instance, with this report, you can see the income generated from the district's school lunch or Title I programs.
Last updated 11/2016
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The Financial Revenue report shows how the revenues have been allocated into each Fund Type used by the districts. The Revenue by Source report shows the distribution of the revenues generated by local, state, federal, fund modifications, other political subdivisions, or other transactions into a district’s fund type. The Revenue by Grant or Program shows the dollar amount of what grants and programs made up each revenue source.
Financial statements of school districts in Michigan are prepared following U.S. Generally Accepted Accounting Principles (GAAP) for government units. These standards, which are accounting rules used to prepare, present, and report financial statements, are established by the Governmental Accounting Standards Board (GASB).
The Michigan Public School Accounting Manual serves as the guide to uniform classification and recording of accounting transactions for public school districts. For a better understanding of the classifications, categories and definitions used by districts and found in this report, refer to the manual at the Department of Education's website. The Appendix - Definitions of Account Codes is a useful reference.
Location/Entity: You can select and compare data at different entity levels: statewide, by intermediate school district (ISD) or by school district. A public school academy, or charter school, is considered a school district.
School Year: A school fiscal year runs July 1 through June 30.
Fund: A sum of money or other resources set aside for specific activities of a school district.
Major Class: The source of the revenue stream. The major class usually indicates if the revenue originated from federal, state, local, or other sources.
Program: Describes revenue indicated for a pre-determined set of activities or objectives. In the Chart of Accounts, this information is determined by the suffix code.
Grant: For the purposes of the revenue report, grant describes revenues restricted for a certain set of activities. A common grant is the Title I grant.
Percent of Selected Fund: The percent (out of 100%) for each expenditure category.
The Center for Educational Performance and Information (CEPI) collected the data used to compile this report. The database used is CEPI's Financial Information Database (FID). Details about this data collection can be found on the FID Web page.
Last updated 11/2016
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