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State of Ohio - Controlling Board Request
STATE OF OHIO
CONTROLLING BOARD
30 East Broad Street, 34th Floor
Columbus, Ohio 43215-3457
(614) 466-5721 FAX:(614) 466-3813
FUND/APPROPRIATION REQUEST Controlling Board No.
ACC0100004
Status:  Approved
Meeting Date:  12/4/2017

GENERAL INFORMATION

Agency
Accountancy Board


Division/Institution
Accountancy Board

Authorization Requested Pursuant
to Revised Code Section 131.35
Increase Appropriation Authority
Create a New Fund
Establish Appropriation Authority
Fiscal Year(s)
2018
Bill No.
49

FUNDING INFORMATION
Fund
Group
Fund
Code
Appropriation
Line Item
Fund/Appropriation
Line Item Name
FYCurrent Appropriation AmountAmount of Increase or New Fund Total
Appropriation Amount
DPF 4J80 889601 CPA EDUCATION ASSISTANCE 2018
2019
$325,000.00
$325,000.00
$100,000.00
$100,000.00
$425,000.00
$425,000.00

SIGNATURES
     
John Patterson 12/04/2017
   
Agency Director or Authorized Agent On The Date Of
   
10/25/2017 Christine Morrison
   
Date Controlling Board President/OBM Director
   
AGENCY CONTACT
Name:  John Patterson Title:  Executive Director
Phone:  (614) 995 - 0192 Fax:  () - E-Mail:  john.patteson@acc.ohio.gov
REQUIRED EXPLANATION OF REQUEST
  The Accountancy Board respectfully requests Controlling Board approval to increase appropriation for FY18 and FY19 by $100,000.00 in fund 4J80, appropriation line item 889601 known as the CPA Education Assistance program.
 
  In fiscal year 2018, it became apparent that the number of students requesting scholarship assistance would exhaust our appropriation of $325,000.

Grant funds are awarded to accounting students who are completing their 5th year of academic study. The Board has for the past 3 years been holding an annual Board meeting at a college/university in order to bring awareness to the students and promote the scholarship program. Since these yearly meetings grants have increased by $17,000 for fiscal year 2016 and $29,000 for fiscal year 2017. The number of students requesting scholarships is not something that can be predetermined and can fluctuate year to year. The Board is already on track to run out of funds by the end of the second quarter for this current fiscal year as most students attend school during the fall quarter where most of the monies are spent. Therefore, we anticipate the same happening during FY2019.

The program reduces the financial burden of basic education requirements on low-income and minority students resulting from legislation enacted in August 1992 which based the basic educational requirements for CPA licensure to 150 semester hours. To be awarded funding, applicants are required by administrative rule to certify that they will take the CPA examination within two years of the final scholarship grant payment. The amount of each scholarship vary based on the financial need of the applicant.

The program is supported by a $10.00 per year, per license surcharge. The Accountancy Board has adequate revenue to cover the appropriation increase.
 
   
Attachments Controlling Board Request No.: ACC0100004
Attachment TypeAttachment Description
No attachments found.

Fund/Appropriation Request 
Required Information
Controlling Board Request No.: ACC0100004
1. Identify the source of additional revenue (e.g., increase in fee, increase in state or federal grants, etc.).
  Fees are generated from renewal license fees. $10 of every year license fee. Then transferred from Fund 4K90 to Fund 4J80 quarterly.
   
2. If applicable, explain why creating and/or increasing a new fund and/or line item is more appropriate than depositing the revenue into an existing fund and increasing the appropriation authority of an existing line item.
  N/A
   
3.
Time line: Has the revenue been received? Yes
 
Provide the receipt date of the revenue. on-going at the end of each quarter
4. For federal funds only, provide the following information:
 
a. Grant identification number from the Catalog of Federal Domestic Assistance: N/A
b. Amount of state matching funds required: 0
c. Source (appropriation line item) of that match: N/A
d. Statutory or executive authority for participation in the program:
N/A
  Include a brief summary of the text or a copy of the reference.  
  N/A
   
5. How will the additional appropriation and/or cash be used?
  Scholarships granted to 5th year students in the accounting field.
   
  Provide the following information below relative to this budgetary adjustment. NOTE: If a new fund and new appropriation authority are being requested, the "Current" and "Requested" columns are not required.
 
Account Category Account Category Description Current Appropriation Authority Requested Increase in Appropriation Total Appropriation Authority
500   Personal Services - Payroll   $0.00   $0.00   $0.00
510   Purchases Personal Services and Others   $0.00   $0.00   $0.00
520   Supplies and Maintenance   $0.00   $0.00   $0.00
530   Equipment   $0.00   $0.00   $0.00
550   Subsidies and Shared Revenue   $325,000.00   $100,000.00   $425,000.00
570   Capital Items   $0.00   $0.00   $0.00
590   Judgements, Settlements and Bonds   $0.00   $0.00   $0.00
Other   Other   $0.00   $0.00   $0.00
Total: $325,000.00 $100,000.00 $425,000.00
   
6. For each additional amount shown in the table, provide a short description of what the dollars will be used to accomplish. For example, if increasing a subsidy account category, provide detail on the added recipients or the allocation formula for distribution of moneys. For Account Category 500, respond to specific questions in number 9 below.
 
Account Category Short Description
500
510
520
530
550 SCHOLARSHIPS
570
590
Other
   
7. Will this transfer be used to maintain current service levels, expand an existing program or activity, or begin a new program? Explain.
  Funds will be used to maintain the existing program.
   
8. Based upon the response to number 7, explain how these services or programs would have been funded if this
additional funding were not available.
  Students applying for scholarship would have to be notified that no funds are available.
   
9. Account Category 500-Personal Services:
 
a. Explain why changes are being requested in the personal services account category 500.
N/A
b. How many existing staff are being affected by this transfer? 0
What appropriation line item are they currently being paid? 
c. How would these existing staff have been affected if these additional funds were not available?
N/A
d. Will new staff be hired as a result of the additional funds?  No
   
10.  List any other transfers involving these appropriation line items and/or cash approved by the Controlling Board in the current biennium, including the date and requested amount of the adjustment(s).
 
ALITransfer DateTransfer AmountCBR Number