The purpose and effect of this rule amendment is to update the publication titled “Financial and Program Cost Accounting and Reporting for Florida Schools, 2012,” incorporated by reference.

 

DEPARTMENT OF EDUCATION
State Board of Education

RULE NO.: RULE TITLE:
6A-1.001: District Financial Records

PURPOSE AND EFFECT: The purpose and effect of this rule amendment is to update the publication titled “Financial and Program Cost Accounting and Reporting for Florida Schools, 2012,” incorporated by reference.

SUMMARY: The proposed rule updates the publication titled “Financial and Program Cost Accounting and Reporting for Florida Schools, 2012,” to reflect changes in law, accounting principles, district practices, and changes to the chart of accounts. Changes to the chart of accounts include: (1) changes to modify required supplementary information requirements in accordance with Governmental Accounting Standards Board (GASB); (2) changes to modify revenue accounts for federal programs based on changes in legislation and reporting; and (3) changes to modify local revenue accounts to reflect various taxing authorities.

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: Based on 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.

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: October 9, 2012, 8:00 a.m.

PLACE: Valencia College, 1800 S. Kirkman Rd, Orlando, FL

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Mark Eggers, Bureau Chief of School Business Services, 325 West Gaines Street, Room 814, Tallahassee, FL 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, 2012 2011 (http://www.flrules.org/Gateway/reference. asp?No=Ref-01620 http://www.flrules.org/Gateway/reference. asp?No=Ref-00649),” which is hereby incorporated by reference in this rule and made a part of the rules of the State Board. Copies of the publication manual 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 F.S. Law Implemented 1010.01 F.S. History–Amended 9-17-72, Repromulgated 12-5-74, Amended 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,________.

 

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

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Gerard Robinson, Commissioner of Education

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: August 21, 2012

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAW: June 29, 2012