Utah Admin. Code R277-113-8 - LEA Accounting Requirements
(1) Each LEA shall:
(a) record revenues and expenditures in
compliance with the Board approved chart of accounts;
(b) record expenditures using school location
codes that can be mapped to official school location codes used in the Board
system of record;
(c) record
expenditures using approved district and school codes in the Board system of
record;
(d) submit expenditures
using location codes in the Utah Public Education Financial System;
(e) perform program accounting in accordance
with GAAP and this rule; and
(f)
beginning with the fiscal year that begins on July 1, 2021, accrue school fees,
and fee waivers and use contra-revenue accounts to record fee waivers in the
LEA's accounting system.
(2) Each LEA shall record and report the
following expenditures for each school annually:
(a) salaries;
(b) benefits;
(c) supplies;
(d) contracted services; and
(e) equipment.
(3) If an LEA pays for contracted services
that occur at the school level, the LEA shall record the payments to the
contractors in the appropriate function and object codes established under
Subsection (2) at the school level.
(4)
(a) An
LEA shall record centralized administrative costs to the administrative
location code.
(b) The
Superintendent shall allocate such costs to each school based on school
enrollment.
(5) The
Superintendent shall present one expenditure report for a school receiving more
than one report card under Subsection R277-497-4(8).
(6) If an LEA reports expenditures in
programs, the LEA shall report the expenditures to one or more
schools.
(7) Each LEA shall request
reimbursement for federal programs no less than semi-annually as funds are
available.
(8) Each LEA shall
submit an intent to fully expend or waive a federal award nine months before
the end of the federal program grant award period.
Notes
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(1) Each LEA shall:
(a) record revenues and expenditures in compliance with the Board approved chart of accounts;
(b) record expenditures using school location codes that can be mapped to official school location codes used in the Board system of record;
(c) record expenditures using approved district and school codes in the Board system of record;
(d) submit expenditures using location codes in the Utah Public Education Financial System;
(e) perform program accounting in accordance with GAAP and this rule; and
(f) beginning with the fiscal year that begins on July 1, 2021, accrue school fees, and fee waivers and use contra-revenue accounts to record fee waivers in the LEA's accounting system.
(2) Each LEA shall record and report the following expenditures for each school annually:
(a) salaries;
(b) benefits;
(c) supplies;
(d) contracted services; and
(e) equipment.
(3) If an LEA pays for contracted services that occur at the school level, the LEA shall record the payments to the contractors in the appropriate function and object codes established under Subsection (2) at the school level.
(4)
(a) An LEA shall record centralized administrative costs to the administrative location code.
(b) The Superintendent shall allocate such costs to each school based on school enrollment.
(5) The Superintendent shall present one expenditure report for a school receiving more than one report card under Subsection R277-497-4(8).
(6) If an LEA reports expenditures in programs, the LEA shall report the expenditures to one or more schools.
(7) Each LEA shall request reimbursement for federal programs no less than semi-annually as funds are available.
(8) Each LEA shall submit an intent to fully expend or waive a federal award nine months before the end of the federal program grant award period.