Chart of Accounts Overview Duplin County Schools Finance Department Updated Chart of Accounts booklet

Important for Accountability and Comparability Chart of Accounts Important for Accountability and Comparability -Accountability by documenting how public funds are spent for reporting purposes -Uniform coding for all schools in NC allows for easy comparability not only within DCS but also at the State level

Chart of Accounts Allowable State and Federal Program Codes Proper coding Transfers -Each State and Federal Program publishes a list of approved codes for that program. If the code is not listed, then that program may not be used for that purpose. -It is important to code expenditures to the appropriate code so we know how funds were used. -Funds may be transferred between line items within specific parameters.

The Chart of Accounts -Basic Budget Code Structure X.XXXX.XXX.XXX.XXX.xxx.xx Fund|Function|Program|Object|School|Use1|Use2 The Blue Codes must be in compliance with the Uniform Chart. Green are for Local Use. -Budget codes are 19 digits -Each section of the code provides valuable information

Fund Codes State Local Federal Capital Outlay Child Nutrition Independent fiscal and accounting entity Self Balance Group of Accounts State Local Federal Capital Outlay Child Nutrition Trust Funds (Agency) Not Used Fund section of the code provides the funding source and is broken into these groups Most of you will use either State, Local or Federal

Function: Four Types of Function Codes: 1000 - Assets 2000 - Liabilities and Reserves 3000 - Revenue (State and Federal) 4000 - Revenue (Local and Other Source) 5000 thru 9000 - Expense -Type of Account -All expenditure codes are Purpose Codes, with the purpose defining the reason for the expense. -Most of the time you will use 5000-7000

Purpose Codes: 5000 - Instructional Programs 6000 - System-Wide Support Services 7000 - Ancillary Services 8000 - Non-Programmed Charges 9000 - Capital Outlay -The reason for the expense -Most of you will use purpose codes in the range of 5000-7000

Purpose Codes 2.5400.805.411.304.000.00 School Leadership Services

Purpose Codes 2.5110.061.411.304.000.00 ? What is purpose 5110? Regular Curricular Services

PRC - Program Report Code PRC examples include: 061 -Classroom Materials 032 - Exceptional Children 801 - Maintenance 805 - School Administration A “pot of money” -The front of our COA list our program codes and person responsible/budget manager for each pot

Object Codes 100 - Salaries 200 - Benefits 300 - Purchased services 400 - Supplies and Materials 500 - Capital Outlay 600 - Reserved for Future Use 700 - Transfers Object Code – Service or Commodity obtained as a result of a specific expenditure -Most of you will use object codes within 300-600 range

– Regular Teacher Absence Object Codes 1.5110.003.162.304.000.00 Substitute Teacher – Regular Teacher Absence

Object Codes 3.5110.103.163.304.000.00 ? What is object 163? Substitute Teacher - Staff Development Absence

Location Codes X.XXXX.XXX.XXX.XXX.xxx.xx School Department School Numbers – Defined by DPI Department Numbers – Only necessary when more than one department is allocated funds.

Budget Transfers X.XXXX.XXX.XXX.XXX.xxx.xx General Rules Not allowable to transfer between funds Transfers are allowable between object codes within a program. Transfer may be allowed between local programs X.XXXX.XXX.XXX.XXX.xxx.xx Fund|Function|Program|Object|School|Use1|Use2 -Budget Transfer Request form located on web page under “forms and documents”

Funding Spend State First Federal more restrictive - make sure expenditures are appropriate for this program