Financial Management

Instructions for Financial Report Form for Nonpublic Schools

These instructions are for the School Nutrition Programs (SNPs) - Financial Report Form for Nonpublic Schools (Excel spreadsheet) which is available on the Minnesota Department of Education Website. View the SNP Financial Report Form for Nonpublic Schools.

Monthly Recording of Revenues and Expenses

(If a ledger or separate checking account is used to record food service revenues and expenses, skip to section below on Annual Review of Net Cash Resources.)

If needed, reorder the monthly columns on the form to correspond to your fiscal year.

Each month, record in the shaded cells all of the revenues and expenses by category for the nonprofit school food service.

The cell for Profit/Loss for the month will self-populate, based on the revenues and expenses that have been entered.

Enter the number of meals served during the month in the shaded cell. The cell for Cost per Meal for the month will self-populate.

Yearly totals for each row will self-populate at the right side of the spreadsheet.

Annual Review of Net Cash Resources

At the end of your fiscal year, complete the shaded cells in the Net Cash Resources section located in the corner of the Annual Financial Report. If a ledger or separate checking account has been used to record revenues and expenses, complete only this Net Cash Resources section of the Annual Financial Report and attach it to the ledger or checking account information.

To complete the Net Cash Resources section, enter your Cash/Investments/Current Receivables and your Current Payables as of the end of the fiscal year. See definitions of terms below. The amount of Net Cash Resources will self-populate. The “limitation” on Net Cash Resources, which is three months average food service expenditures during the year, will self-populate.

- If your Net Cash Resources do not exceed the Limitation, your food service does not have excess funds and Excess Funds will self-populate as “N/A.”

- If your Net Cash Resources exceed the Limitation, your school food service account has excess funds that must be reduced in order to comply with the program requirements for a nonprofit school food service. Notify MDE Food and Nutrition Service (651-582-8526, 1-800-366-8922 or fns@state.mn.us) of the amount of excess funds and your plan to reduce the excess cash resources.

Definitions

“Net cash resources” means current nonprofit food service assets net of current nonprofit food service liabilities.

“Current receivables” means amounts due to the nonprofit food service expected to be collected within the current accounting fiscal year or within three months of the end of the current accounting fiscal year.

“Current payables” means amounts owed to vendors, employees, etc., expected to be paid within the current accounting fiscal year or within three months of the end of the current accounting fiscal year.

“Limitation” means average monthly food service expenditures times three. For schools, determine average monthly expenditures by dividing the expenditures for the full year by nine, unless the school is year-round or has a summer program.

“Excess funds” means the amount by which Net Cash Resources exceeds the Limitation. If this amount is positive, contact MDE Food and Nutrition Service as described above. If the cell for excess funds displays “N/A,” then your nonprofit food service’s net cash resources do not exceed the limitation.