The purpose of the amendment to rule 6A-1.001, F.A.C., is to incorporate by reference an updated version (2017) of the Financial and Program Cost Accounting and Reporting for Florida Schools. Changes in law, accounting principles and district ...

 

DEPARTMENT OF EDUCATION

State Board of Education

RULE NOS.:RULE TITLES:

6A-1.001District Financial Records

6A-1.085Basic Principles of Internal Fund Accounting

6A-1.087School Board Responsible for Internal Funds

6A-1.091Purchases from Internal Funds

PURPOSE AND EFFECT: The purpose of the amendment to rule 6A-1.001, F.A.C., is to incorporate by reference an updated version (2017) of the Financial and Program Cost Accounting and Reporting for Florida Schools. Changes in law, accounting principles and district practices require periodic revision of this publication, which includes the chart of accounts. The effect is that districts will have an updated chart of accounts to use. Rules 6A-1.085, Basic Principle of Internal Fund Accounting, 6A-1.087, School Board Responsible for Internal Funds, and 6A-1.091, Purchases from Internal Funds, F.A.C., are being repealed due to duplicative guidance and principles that are included in the Financial and Program Cost Accounting and Reporting for Florida Schools and incorporated by reference in rule 6A-1.001, F.A.C.

SUMMARY: The superintendent of each school district is responsible for keeping adequate records and accounts of all financial transactions in the manner prescribed by the commissioner in Financial and Program Cost Accounting and Reporting for Florida Schools (Red Book), which is incorporated by reference in rule 6A-1.001, F.A.C.

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: Past agency experiences with the adjustment of accounting and financial reporting requirements for school districts, the adverse impact or regulatory cost, if any, does not exceed, nor would it be expected to exceed, any one of the economic analysis criteria set forth in section 120.541(2)(a), Florida Statutes. The modifications are accounting changes anticipated with the periodic issuance of new GASB pronouncements, new accounting codes that represent financial data that school districts already present in the notes to financial statements and new accounting codes for federal reporting purposes.

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: 1010.01, FS.

LAW IMPLEMENTED: 1010.01, FS.

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

DATE AND TIME: July 17, 2017, 2:00 p.m.

PLACE: Room LL03, The Capitol, 400 South Monroe Street, Tallahassee, Florida.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Mark Eggers, Assistant Deputy Commissioner, Finance and Operations, Florida Department of Education, 325 West Gaines Street, Room 814, Tallahassee, Florida 32399-0400, [phone].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

6A-1.001 District Financial Records.

The superintendent of schools of each school district shall be responsible for keeping adequate records and accounts of all financial transactions in the manner prescribed by the Commissioner in the publication titled “Financial and Program Cost Accounting and Reporting for Florida Schools, 2017 2015 http://www.flrules.org/Gateway/reference.asp?No=Ref-06171,” which is hereby incorporated by reference in this rule. Copies of the publication may be obtained from the Office of Funding and Financial Reporting, Department of Education, 325 West Gaines Street, Tallahassee, Florida 32399, at a cost to be established by the Commissioner, but which shall not exceed actual costs.

Rulemaking Authority 1010.01 FS. Law Implemented 1010.01 FS. History–New 9-17-72, Amended 12-5-74, 4-28-77, 8-2-79, 7-21-80, 10-7-81, 8-10-83, 9-27-84, 10-1-85, Formerly 6A-1.01, Amended 11-8-88, 7-30-91, 10-6-92, 10-18-94, 1-26-98, 10-15-01, 12-20-11, 11-13-12, 11-3-13, 11-4-14, 1-7-16,_____.

 

6A-1.085 Basic Principles of Internal Fund Accounting.

Rulemaking Authority 1001.02(1), 1010.01(1), 1011.07 FS. Law Implemented 1011.07 FS. History–New 9-17-72, Repromulgated 12-5-74, Amended 6-10-75, Formerly 6A-1.85, Amended 6-20-89, Repealed_____.

 

6A-1.087 School Board Responsible for Internal Funds.

Rulemaking Authority 1001.02(1), 1010.01(1), 1011.07 FS. Law Implemented 1011.07 FS. History–New 4-11-70, Amended 9-17-72, 10-31-74, Repromulgated 12-5-74, Amended 3-24-75, Formerly 6A-1.87, 9-22-08 Repealed_____.

 

6A-1.091 Purchases from Internal Funds.

Rulemaking Authority 1001.02(1), 1011.07 FS. Law Implemented 1010.04(1), 1011.07 FS. History–New 2-20-64, Amended 6-20-64, 5-24-67, 8-9-68, Repromulgated 12-5-74, Formerly 6A-1.91, Repealed_____.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Linda Champion, Deputy Commissioner, Finance and Operations

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Pam Stewart, Commissioner, Department of Education

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: June 16, 2017

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: May 8, 2017