The proposed rule is amended to adopt the Department’s “Uniform Accounting System Manual, 2014 Edition.” The Manual provides updated guidance regarding uniform accounting practices and procedures that local government entities are required to follow,...

 

DEPARTMENT OF FINANCIAL SERVICES

Division of Accounting and Auditing

RULE NO.:RULE TITLE:

69I-51.0012Uniform Classification of Accounts for Units of Local Government

PURPOSE AND EFFECT: The proposed rule is amended to adopt the Department’s “Uniform Accounting System Manual, 2014 Edition.” The Manual provides updated guidance regarding uniform accounting practices and procedures that local government entities are required to follow, pursuant to Section 218.33, F.S. The Manual includes a classification of accounts organized by fund groups and details specific standards that local governmental entities must follow in the recording and reporting of financial information required by the state of Florida. The proposed rule also provides a website through which the Manual can be accessed and includes certain technical changes.

SUMMARY: The proposed rule adopts the Department’s “Uniform Accounting System Manual, 2014 Edition.” The Manual provides updated guidance on uniform accounting practices that local governmental entities are required to follow, pursuant to Section 218.33, F.S.

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 Department has performed an economic analysis of the proposed rule and has determined there are no adverse impacts or potential regulatory costs for the proposed rule exceeding criteria established under paragraphs 120.541(1)(b) or 120.541(2)(a), F.S. The Department has incorporated its experience in estimating regulatory and transactional costs associated with the rulemaking process into its economic analysis 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: 17.14, 17.29, 120.53(1), 218.33(2) FS.

LAW IMPLEMENTED: 129.01, 218.32, 218.33(2) FS.

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW (IF NOT REQUESTED, THIS HEARING WILL NOT BE HELD):

DATE AND TIME: Thursday, July 23, 2015, 2:30 p.m.

PLACE: Room 116, Larson Building, 200 East Gaines Street, Tallahassee, Florida

Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 5 days before the workshop/meeting by contacting: Gina Ballard, [phone], [e-mail]. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Gina Ballard, CPA, Chief, Bureau of Financial Reporting, Division of Accounting and Auditing, Department of Financial Services, 200 East Gaines Street, Tallahassee, Florida 32399-0364, [phone], [e-mail]

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69I-51.0012 Uniform Classification of Accounts for Units of Local Government.

(1) Pursuant to Section 218.33, F.S., the Department of Financial Services has authorized a uniform classification of  accounts for use by local governmental entities.  The aforementioned uniform classification of accounts, as organized under the Department’s “Uniform Accounting System Manual, 2014 Edition,” provides detailed guidance regarding the required reporting by local governmental entities of their respective assets, deferred outflows of resources, liabilities, deferred inflows of resources, revenues, and expenditures. the responsibility and authority to make such rules regarding uniform accounting practices and procedures to be followed by units of local government in this state. In order to implement this uniform accounting system, the Department of Financial Services has developed a manual entitled “Uniform Accounting System Manual, 1996 Edition.” Said Manual consists of the following sections: Introduction; Chapter 1, Classification of Funds; Chapter 2, Chart of Accounts – Balance Sheet; Chapter 3, Chart of Accounts – Revenues; Chapter 4, Chart of Accounts – Expenditures/Expenses; Chapter 5, Chart of Accounts – Object Classification; and Appendices A – Statutory References, and B – Text References. The Uniform Accounting System Manual, 1996 Edition is hereby incorporated and made part of this rule by reference.

(2) The “Uniform Accounting System Manual, 2014 Edition,” is incorporated  by reference herein and is available on-line at the Department’s website at http://www.myfloridacfo.com/Division/AA/Manuals/default.htm Copies of the above-referenced Manual will be provided upon request. All requests should be directed to: Bureau of Accounting, Department of Financial Services, 200 East Gaines Street, Tallahassee, Florida 32399-0354, Telephone Number [phone].

Rulemaking Authority 17.14, 17.29, 120.53(1), 218.33(2) FS. Law Implemented 129.01, 218.32, 218.33(2) FS. History–New 12-3-82, Formerly 3A-61.011, Amended 7-9-84, Formerly 3A-61.012, Amended 7-30-86, 1-30-89, 7-15-96, Formerly 3A-61.0012, 69I-61.0012, Amended_________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Gina Ballard, CPA, Chief, Bureau of Financial Reporting, Division of Accounting and Auditing, Department of Financial Services

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Jeff Atwater, Chief Financial Officer, Department of Financial Services

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: June 17, 2015

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: March 3, 2015