14998933, 6A-1.001 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 14998933

Notice of Proposed Rule

Department:

DEPARTMENT OF EDUCATION

Division:

State Board of Education

Chapter:

FINANCE AND ADMINISTRATION

Overview

RULE:

6A-1.001

District Financial Records

PURPOSE:

The purpose of this amendment is to update the “Financial and Program Cost Accounting and Reporting for Florida Schools.” Changes in laws, accounting principles and district practices require periodic revision of this publication, which includes the chart of accounts.

SUMMARY:

Rule 6A-1.001, F.A.C., is amended to update the publication “Financial and Program Cost Accounting and Reporting for Florida Schools.” Changes in the publication and the chart of accounts include: (1) account modification and addition of elements of financial statements for presentation in accordance with the Governmental Accounting Standards Board (GASB) principles; (2) addition of guidance for negative cash; (3) removal of references to federal stimulus funds where programs have been closed out; (4) modification of revenue account definitions to clarify reporting purposes; and (5) modification of expenditure function and object accounts to remove obsolete terms, clarify reporting purposes and conform definitions to GASB pronouncements.

RULEMAKING AUTHORITY:

1001.02(1), (2)(n), 1010.01, Florida Statutes.

LAW:

1010.01, 1010.20, 1010.22(1), Florida Statutes.

PRINT PUBLISH DATE:

8/29/2014 Vol. 40/169

COMMENTS:

From 8/29/2014 To 9/19/2014 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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