The Department held public meetings in October 2018 to engage stakeholders in discussions around meeting the requirements of SB 172. Since that time the Department has been working with the Office of Management and Budget, Division of Accounting and districts and charter schools to begin developing a framework to ensure consistent coding of public education expenditures. Prior to July 1, the Department will release a Financial Coding Technical Assistance manual to provide guidance to districts and charter schools on use of account codes within the State’s accounting system, First State Financials (FSF), to be used effective July 1, 2019. In August, the Department will begin the same process for revenue codes, for implementation by districts and charter schools in July 2020.
The Department plans to continue the process of reporting public education expenditures through the annual report card in December 2019, similar to what was provided in December 2018, and will continue working towards a more automated process that will include increased financial transparency with a more granular level of detail by December 2020. As part of that work, the Department plans to hold additional public meetings later this year to engage a broader audience of stakeholders and seek feedback. Stay tuned for additional updates!