The amendment will update rule language to accurately reflect the titles for the Florida College System and the Department of Education’s Division of Florida Colleges, and will update the publication that is incorporated ....

 

DEPARTMENT OF EDUCATION

State Board of Education

RULE NO.:RULE TITLE:

6A-14.072Financial Records and Reports

PURPOSE AND EFFECT: The amendment will update rule language to accurately reflect the titles for the Florida College System and the Department of Education’s Division of Florida Colleges, and will update the publication that is incorporated in the rule.

SUMMARY: Incorporates in rule the accounting manual all Florida College System (FCS) institutions must follow relating to financial records. Annual updates include processes and terminologies as determined by Florida Department of Education staff and FCS institution business officers.

SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION:

The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the Agency.

The Agency has determined that the proposed rule is not expected to require legislative ratification based on the statement of estimated regulatory costs or if no SERC is required, the information expressly relied upon and described herein: The proposed rule is not expected to have any adverse impact on economic growth, business competitiveness or any other factors listed in s. 120.541(2)(a), F.S., and will not require legislative ratification. No increase in regulatory costs is anticipated as a result of this rule. This is based upon the nature of the proposed rule.

Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.

RULEMAKING AUTHORITY: 1001.02(1), 1010.01(1), F.S.

LAW IMPLEMENTED: 1001.02, 1010.01, F.S.

A HEARING WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:

DATE AND TIME: March 27, 2024, 9:00 a.m.

PLACE: Winter Park High School, 2100 Summerfield Road, Winter Park, FL 32792.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Lisa Cook, Division of Florida Colleges, [phone], [e-mail]

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

6A-14.072 Financial Records and Reports.

(1) Each Florida College System institution community college shall keep financial records according to the Department of Education publication, “Accounting Manual for Florida’s College System,” effective April 2024, “Accounting Manual for Florida’s Public Community Colleges, 2007,” incorporated herein by reference. Copies may be obtained through the Division of Florida Community Colleges, Department of Education, 325 West Gaines Street, Tallahassee, Florida 32399-0400.

(2) Enrollment related financial records shall be kept for all instruction so as to facilitate verification, confirmation, and comparison.

(3) If financial reports are not received from a Florida College System institution community college when due, the Chancellor, as delegate of the Commissioner of Education, may withhold apportionments of state funds to the college until the reports are received.

Rulemaking Authority 1001.02(1), 1010.01(1) FS. Law Implemented 1001.02, 1010.01 FS. History–New 12-19-74, Formerly 6A-8.11, Amended 12-26-77, 7-2-79, 5-14-85, Formerly 6A-14.72, Amended 11-12-91, 7-7-92, 2-16-94, 12-18-94, 11-27-95, 11-13-96, 12-9-97, 5-18-99, 2-29-00, 7-30-01, 5-19-03, 7-20-04, 6-20-07,

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Lisa Cook, Division of Florida Colleges

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Manny Diaz Jr., Commissioner, Department of Education.

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: February 27, 2024

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: May 26, 2023