Presentation on theme: "Uniform Chart of Accounts An Overview Division of School Business."— Presentation transcript:
Uniform Chart of Accounts An Overview Division of School Business
Who needs to know? u Anyone responsible for ensuring the proper use of State or Federal Funds. u Anyone who receives state or federal funds.
Why a Uniform Chart? u General Assembly enacted law in 1975 requiring a uniform system for all local school units, effective July 1, 1976. u Provides the Legislature, general public, and other agencies with a consistent guideline of how funds are used by various groups obtaining public funds (state, federal, local, etc..).
Uniform Education Reporting u G.S. 115C-12 (18)(a): requires local school units to provide timely, accurate, and complete fiscal and personnel information, including payroll information to the State Board. u G.S. 115C-12 (18)(b): requires local school units to comply with the Uniform Education Reporting System (fiscal, personnel, and student data).
Flow of Data from the Units u The Units receive their allotment (gives them the ATD - Authority to Draw cash) u Request the cash 2-3 days prior to writing any checks.
Flow of Data from the Units u Units write the checks for expenditures ALL Expenditures MUST have the 11-digit account code u DPI pulls in data generated by the units general ledger software (data file)
Flow of Data from the Units u Monthly reports are sent to the units for their review. u Units make any adjustments as needed. u Refunds for overspent programs u Salary audit exception corrections u Coding or keying errors u Refunds for mis-use of funds, etc.
Flow of Data from the Units u Quarterly or Monthly reports are sent to the DPI program staff for their review to ensure expenditures are within program guidelines and allowances. u Units and School Business are notified by program staff if any misuse of funding has occurred so the proper action can be taken.
First thing to understand: The Uniform Chart of Accounts
Function Codes The purpose the activity exists u Asset codes (cash, accounts receivable) u Liabilities, reserves, and fund balance codes (accounts payable, payroll taxes payable) u Revenue codes (allocations from SPSF, tuition, etc.) u Purpose codes
Purpose Codes The reason for the expense u 5000 - Instructional Programs u 6000 -Supporting Services Programs u 7000 - Community Services Programs u 8000 -Non-Programmed Charges u 9000 - Capital Outlay
Purpose Codes Special differences u Instructional (5000) vs. Support (6000) u 5100 (regular) vs. 5200 (special) u 5800 series
Instructional Support - 5800 Major Areas Instructional Support - 5800 Major Areas u 5810 -Library/Media u 5820 -Attendance/Social Worker u 5830 -Guidance Services u 5840 -Health Services u 5850 -Psychological Services
Employee Benefits u 5910 =Benefits for salaries paid from 5000 series codes u 5920 =Additional Pay
Supporting Services - 6000 Main Areas u 6320 -Board of Directors u 6330 - General Administration u 6410 -Office of Principal/Headmaster
Supporting Services cont. u 6520 -Fiscal Services u 6540 - Custodial u 6550 -Student Transportation u 6560 -Child Nutrition u 6580 -Maintenance
Object Codes Service or Item Obtained u Salaries = 100 series u Benefits = 200 series u Purchased services = 300 series u Supplies and Materials = 400 series u Equipment and Capital Outlay = 500 series
Salaries = 100s u 114 =Principal/Headmaster u 121 =Teachers u 139 =Other Professional Assignments u 142 = Teacher Assistants u 148 =Other Professional - non-certified u 151 = Office Personnel u 180 =Overtime u 199 =Salary - Other Assignments
Benefits = 200s u 211 =Social Security u 229 =Other Retirement u 231 =Hospitalization u 232 =Workers Compensation u 234 =Dental u 235 =Life u 239 =Other Insurance
Purchased Services = 300s u 311 =Contracted Services u 312 =Workshop Expenses u 328 =Energy Costs u 332 =Travel u 351 = Advertising u 362 = Reproduction u 371 =Field Trips
Supplies & Materials = 400s u 411 = Instructional Supplies u 412 =Supplies and Materials u 421 =Textbooks u 431 =Library books u 451 =Food Purchase u 461 = Non-Capitalized Equipment u 462 =Non-Capitalized Computer Equip
Capital Outlay = 500s u 541 =Capitalized Equipment u 542 =Capitalized Computer Equipment u 551 = Vehicles Other Capital codes available for building improvements, etc. (520 series)
Other Object Codes u 620s =Various Insurances u 681 = Debt Service - Principal u 682 = Debt Service - Interest u 700 =Transfers