Salix Loans Salix Codes




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RM Finance
USER BULLETIN No. 195 (Amended March 2014)

January 2014
Tel No: 01992 555713

Fax No: 01992 555727

email : keys.fsshelpdesk@hertsforlearning.co.uk

Included in this Bulletin:

  • Salix Loans




  • Salix Codes





Financial Systems Helpline

Tel No: 01992 555713

email : keys.fsshelpdesk@hertsforlearning.co.uk

Herts for Learning

01438 845111

www.hertsforlearning.co.uk

Salix Loans
Salix is a company set up by the DfE to provide interest free loans to schools for between four and eight years for energy saving projects. The loans are provided to schools by the DfE through the Department of Energy and Climate change (DECC). The loans are exempt from the standard prohibition of loans to schools having been authorised by the DfE.

The deadline for applications was 31st October 2013 but schools that missed the deadline are still able to submit applications pending future allocations.

Until 13/14, the schools signed a loan agreement but the repayments were made to HCC. From 13/14 onwards, however, the loans have been awarded to schools directly. The schools now make repayments to Salix for these later loans.
Further information is available from the DfE website at the link below.

http://www.education.gov.uk/aboutdfe/executiveagencies/efa/h00226492/issue-32/salix-loans
To account for the loans properly four new codes for Salix have been added. In addition a new code for Out of County Pupil Premium has been added but further details are found on page 4 of this bulletin. The table shown on page 3 details the new codes.
Salix Loan

Salix loan will be received by schools and coded to 720210 Salix Loan in CFR area I06.


Salix Equipment Expenditure

Schools will need to make a decision about how the expenditure is to be treated.


Projects below £2000

If the value of an individual project is under the £2000 de minimis for capital the charges for the equipment will be coded to 200220 Salix Loan (Project under £2000) in CFR E12.


Projects over £2000

If the value of an individual project is over the £2000 de minimis for capital the cost of the equipment is to be classed as a capital project and a capital shuffle should be completed;

Expenditure to 660400 Capital E30

Expenditure to 420020 Salix Loan (Capital projects) CE03

Income to 750800 Revenue Financing – Capital works CI04
Salix Loan Repayments

Loan repayments are to be coded to 201710 Salix Loan Repayment which is to be included in CFR E16 (Energy).


Please see the table below.




To Set Up the New Analysis

Click on Records

Click on Income/Expenditure Analysis


Click on New Record


Make sure the radio spot is against Income

Enter the Analysis 720210

Enter the description as shown

Enter Report Link 44

Enter Sort Key I06

Click on OK


Continue to set up any other codes that are needed, using the table for guidance, remembering to place the radio spot next to Expenditure where appropriate.



To Set Up a New Budget Account

To be able to monitor the income and expenditure you should set up new budget codes.


Click on Records
Click on Budget Accounts


Click on New Record


Enter Budget SALINC

Enter the description as shown


Click on the drop down

box next to Budget Heading

Select I06
Click on OK and close the window
Continue to set up new budgets for the expenditure as appropriate.

Suggested new budget accounts are;

SALINC Salix Loan Income I06

SALEXP Salix Loan (Projects under £2000) E12

CE03S Salix Loan (Capital Project) CE03
Salix Benefits

The benefits of the new equipment should result in a reduction of energy charges. The savings from the reduction in charges is expected to cover the cost of the loan. In order to be able to identify the saving it will be important to analyse the repayments to their own budget account using the correct analysis code.


SALREP Salix Loan Repayment E16
Out of County Pupil Premium

It has become necessary to set up a new code in RM Finance for Out of County Pupil Premium.

Pupil Premium received from Hertfordshire County Council will still be recorded on code 723601.

However income for Pupil Premium received from across our borders is to be coded to the new code of 723611.
To Set Up the New Analysis

Click on Records

Click on Income/Expenditure Analysis



Click on New Record


Make sure the radio spot is against Income

Enter the Analysis 723611

Enter the description as shown

Enter Report Link 45

Enter Sort Key I07

Click on OK



Note – Although the analysis belongs in I05, you should set the code to Sort Key I07 and report link 45. This is for year end reporting purposes.
The year end housekeeping bulletin will contain further instructions about how to treat this income code at year end.
If you have received this income, you may wish to set up a new Budget Heading and Budget Account. This will allow the Pupil Premium income in I05 and I07 to be shown together on reports.


To set up a new Budget Heading


Click on Budget Headings

Click on New

Enter Budget Heading I05/I07
Description Pupil Premium
Click on OK and close the window


To set up a new budget account

Click on Records

Click on Budget Accounts
Click on New Record
Enter Budget OUTPP

Enter the description as shown


Click on the drop down

box next to Budget Heading

Select I05/I07
Click on OK and close the window
If you are unsure of any of the above procedures please contact the
Helpline  01992 555713

Or

email : keys.fsshelpdesk@hertsforlearning.co.uk



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