10504147, 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: 10504147

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
6A-1.004	School District Budget Requirements
6A-1.0071	Fiscal Reporting Dates
6A-1.038	Funding and Refunding of School District Indebtedness

PURPOSE:

Rule 6A-1.001, F.A.C., is amended to incorporate the updated publication Financial and Program Cost Accounting and Reporting for Florida Schools, 2011, by reference. The purpose of the amendments for Rules 6A-1.004 and 6A-1.038, F.A.C., is to align the rules with the provisions in Chapter 2011-175, Laws of Florida, which took effect on July 1, 2011. Rule 6A-1.0071, F.A.C., is amended to add Forms ESE 374, Schedule of Maturities of Indebtedness, and ESE 523, Information Concerning Authorized Obligations Under Sections 1011.14 and 1011.15, Florida Statutes, to the submission of the school district annual financial report. The effect will be rules aligned with Florida Statutes.

SUMMARY:

The purpose of the amendment to Rule 6A-1.001, F.A.C., is to propose changes to the publication Financial and Program Cost Accounting and Reporting for Florida Schools, 2011 as incorporated by reference. Changes in law, accounting principles, and district practices require periodic revision of this publication which includes the chart of accounts. Changes to the chart of accounts include: (1) modify balance sheet accounts in accordance with Governmental Accounting Standards Board (GASB) Statement 54; (2) modify revenue accounts for federal programs based on changes in legislation and reporting; (3) modify revenue accounts for state programs in accordance with changes in state funding; (4) modify local revenue accounts for changes in fee structures; (5) modify fund and account group structure for consistency with GASB Statement 54; (6) clarify function and object code definitions; (7) provide accounting guidance in accordance with GASB Statement 54 in Chapter 2; and (8) modify Chapter 5, Program Cost Accounting and Reporting, to reflect changes in legislation. The purpose of amendments for Rules 6A-1.004 and 6A-1.038, F.A.C., is to align the rules with 2011 legislation that deleted the requirement that the Commissioner of Education review the budget of district school boards and the requirement that the Department of Education approve the budget of district school boards. Rule 6A-1.0071, F.A.C., is amended to incorporate by reference Forms ESE 374 and ESE 523.

RULEMAKING AUTHORITY:

1001.02(1), 1010.01, 1010.20, 1011.03(4), 1011.16, 1011.60(1), (5) FS.

LAW:

200.065, 1001.42(13)(b), 1010.01, 1010.20, 1011.01(3), 1011.02, 1011.03(4), 1011.16, 1011.60(1), (5) FS.

PRINT PUBLISH DATE:

10/14/2011 Vol. 37/41

COMMENTS:

From 10/14/2011 To 11/4/2011 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

Ref-00649 Financial and Program Cost Accounting and Reporting for Florida Schools, 2011

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