FAQs (Frequently Asked Questions)
Contents
1. E EE EEEa e EEEN ETE EN E EEEE a EREET cme E REEE SAE E ETEN 3 Question 10 My district issued long term bonds to refinance existing bonds that were previously reported using the debt service data collection How do I report this ccccecccescesesssecssessecssecseeceecsesessesseeessesssseeseeesaeesaessaeeaes 3 Question 11 District issued long term bonds to refinance existing bonds that do not appear in the system How dof report this es 2 ecbessetets vet E pte ise cae ct ss Piea nk vol sag po Date aes E Te ones r E eaten stove T erates 4 Question 12 How do I report temporary notes ccceccccecsseeseeeseesseesceseceseeeecesscesecesecesecseeceessesessseeseesaesseeeeeeeess 4 GENERAL HELP Question 1 What do I need to do Log in to the Debt Service Data Collection web site and review the information reported last year The system must be updated with all of the district s current debt related to school construction This information is used to calculate the district s debt service state aid Question 2 How do obtain a log in The district s web user administrator must first provide access for the appropriate users using the Web User Administrator application Question 3 I do not have any changes what do I do After reviewing the information and determining that it is accurate follow the instructions for certifying the application in the User Manual Question 4 Do I need to mail a copy of the certification to the County2. FREQUENTLY ASKED QUESTIONS GENERAL HELP Question 2 How do obtain a log in oo ceeeeeeeeeeeeeeees Question 3 I do not have any changes what do I dO ecceccessesecssecseeseeeseessesssesssessesseseeenaes Question 4 Do I need to mail a copy of the certification to the County Office or Trentom cceeceeeeeeeeeeees 2 MODIFYING EXISTING DEBT AND PROJECT INFORMATION ccceccceccesceseeeeerseessesseeesesseessecnseenaeeneeenes 2 Question 5 My Project Schedule on my Long Term Bonds Notes View page does not look correct What should TAOren E r Satins puedsstrevgueen aeess E E e E N E E sian eteesDyneets Duwkionee ETE E 2 Question 6 I would like to change previously reported data about an eligible school facilities project What should T AOP enaena A aS ERES EE A EE AEEA E EA E EETA 2 Question 7 The district issued long term bonds to refinance existing bonds that were previously reported using the debt service data collection How do I report this ccccecccescesecssecsesecssecseecseesseeeseessesesssssesessseeaeeseeeaeeaes 3 Question 8 The district will be renewing a temporary note How do I report this cec ce ceeeeeeeeteeeeeeeeeees 3 ADDING NEW DEBT AND PROJECT INFORMATION cece cece ceseceseeceseeseseecnsseeeseecssseesseecsssseeseesssseseaaees 3 Question 9 My district issued long term bonds to finance eligible school construction projects How do I report PAIS aerate enen venerea neS AESA EEE EEE R
3. Office or Trenton No Applications are certified electronically you do not need to mail a copy of your certification to your County Office or Trenton MODIFYING EXISTING DEBT AND PROJECT INFORMATION Question 5 My Project Schedule on my Long Term Bonds Notes View page does not look correct What should I do Before making any change to the Project Schedule of existing debt please send an email to the Office of School Finance The email address is debtserv doe state nj us The email should include the district name and an explanation of what may need to be changed Please wait for a response before making any change Any modifications could change the district s debt service aid See the Project Schedule section of the debt service data collection manual for more information Question 6 I would like to change previously reported data about an eligible school facilities project What should I do Please send an email to the Office of School Finance The email address is debtserv doe state nj us The email should include the district name and an explanation of what may need to be changed Please wait for a response before making any change Any modifications could change the district s debt service aid Question 7 The district issued long term bonds to refinance existing bonds that were previously reported using the debt service data collection How do I report this When existing debt is refinanced new
4. debt is issued and existing debt is refunded in part or whole For reporting purposes this typically will be reported as two separate issues First select the bond that has been refinanced and check the box that says This Issue Was Refunded Indicate how much principal was refinanced in Amount Refunded Then make any necessary changes to the payment schedule The payment schedule should reflect only the payments that will be made from the district municipal or county budget Typically this involves eliminating some future principal payments and revising the interest payments for the principal payments that do remain Save your changes by clicking the Save button at the bottom of the screen For the new issue follow the instructions in Question 10 Question 8 The district will be renewing a temporary note How do I report this Please see the instructions for Question 12 in the next section ADDING NEW DEBT AND PROJECT INFORMATION Question 9 My district issued long term bonds to finance eligible school construction projects How do I report this Before adding any new debt please send an email with the maturity schedules to the Office of School Finance The email address is debtserv doe state nj us Once we receive your information we will unlock our system for you to enter your data Begin by entering the eligible school construction projects in the Eligible School Facilities Projects screen The manual include
5. nother temporary note or retired using long term bonds SDA grants Example 1 A temporary note will be paid using funds from a future issue of long term debt If a temporary note for 1 000 000 will be paid using 1 000 000 from long term bonds 0 in principal should be reported in the maturity schedule Example 2 A temporary note will be renewed next year If a temporary note for 1 000 000 will be renewed for 750 000 in the next year 250 000 should be reported as the principal payment Example 3 A temporary note will be paid using funds from SCC SDA grants If a temporary note for 1 000 000 will be paid using 1 000 000 from SCC SDA grants 0 should be reported in the maturity schedule How do I report a temporary note that is renewing a temporary note from the previous year Enter a new temporary note that is renewing a temporary note from the previous year as a new issue In the end two temporary notes will appear in the system but the first temporary note will only show payments in one fiscal year The second temporary note will show payments in the next fiscal year
6. s descriptions of the required information about each project Then click on the link for Long Term Bonds Notes Lease Purchase Agreements and select Add Issue button When you reach the Project Schedule then select EFCFA Eligible School Construction Project in the Purpose drop down box Then in the Purpose Details drop down box select the project that this debt is funding If it s funding more than one project use the Add A Purpose button to add another row Refer to the manual for additional information about the Project Schedule and Maturity Schedule Question 10 My district issued long term bonds to refinance existing bonds that were previously reported using the debt service data collection How do I report this Refer to Question 7 for modifying the existing bonds Then click on the link for Long Term Bonds Notes Lease Purchase Agreements and select the Add Issue button When you reach the Project Schedule then select Refunding of Debt in the Purpose drop down box Then in the Purpose Details select the Bond Id of the debt that was refunded If it s refunding more than one issue use the Add A Purpose button to add another row Refer to the manual for additional information about the Project Schedule and Maturity Schedule Question 11 District issued long term bonds to refinance existing bonds that do not appear in the system Ho
7. w do I report this This may be the case if the refunded issue was never reported in previous data collections or it was reported but did not have a payment in 2007 08 Click on the link for Long Term Bonds Notes Lease Purchase Agreements and select the Add Issue button Select the Issued to Refund Other Debt check box and enter the amount of debt issued to refund principal Amount For Refunding This is usually less than the total amount issued When you reach the Project Schedule then select Refunding of Debt in the Purpose drop down box Then in the Purpose Details select one of the following Initial Issue Local Share of EFCFA Project EDA Grant Initial Issue Pre EFCFA School Debt Initial Issue Misc No Aid Refer to the manual for a description of each These describe the purpose of the original debt what was refunded If it s refunding more than one issue use the Add A Purpose button to add another row Refer to the manual for additional information about the Project Schedule and Maturity Schedule Question 12 How do I report temporary notes Temporary Notes issued for school construction should be entered by following the instructions for entering Long Term Bonds What do I report as the principal payment for a temporary note The principal payment in the maturity schedule should only include the amount of principal that will NOT be renewed by a
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