February
The following Business processes should be started or in progress:
❏ Process 1095 Forms
❏ Process 1099 Forms
❏ Budget Process
❏ Next Year Payroll Process
The following business tasks have been identified for the month of February. Use the checklist below to ensure that the tasks are addressed, if applicable.
| Application(s) | Task |
|---|---|
| Budget | ❏ Develop the budget calendar for the upcoming year. ❏ Prepare the Budget application for the new school year budget. |
| Finance | ❏ Excess Wealth districts first payment is due according to the TEA published calendar (typically by February 15th). ❏ Complete the 1099-NEC filing to the IRS by the appropriate due date. ❏ Begin working on 1099-MISC processes. ❏ Complete the Mid-Year PEIMS resubmission if required. ❏ E-Rate submission, check with TEA for the deadline. ❏ Make district bond payments by the required dates according to the debt schedule. ❏ (If applicable.) Transfer funds from Existing Debt Allotment (EDA) or Instructional Facilities Allotment (IFA) to Interest & Sinking (I&S) account since they will be deposited to the same bank account as Available School Fund (ASF) and Foundation School Program (FSP) payments. ❏ Review the IDEA-B MOE compliance status using the TEA template prior to TEA releasing their preliminary reports. Gather information for any exceptions or adjustments that the LEA intends to claim. ❏ Review the ESSA MOE compliance status using the TEA template prior to TEA releasing their preliminary reports. |
| Payroll | ❏ Complete ACA 1095 reporting by the appropriate due date. |