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KDE Changes Chart of Accounts

The KDE Chart of Accounts has undergone significant changes as of Spring 2009. Key updates include modifications to funds, units, and balance sheet object codes. Notable changes are in expenditure objects like salaries and benefits. Major adjustments impact the 2600’s category and compliance with SBDM regulations affecting 1100 and 1900 functions. New features include web-based budget submissions and interactive account definitions. Districts must ensure compliance with the new structures for future reports. For additional inquiries, contact Karen Conway at karen.conway@education.ky.gov.

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KDE Changes Chart of Accounts

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  1. KDE Changes Chart of Accounts KASBO, Spring 2009

  2. What did not change.. • Funds • Units • Balance Sheet Object Codes • Expenditure Objects for 0100s-Salaries and 0200s-Benefits (except for adding 0216 earlier this year and a description change for 0293)

  3. What type of basic changes will districts see • Description Changes • Moves • Added segments • Deletions

  4. Highlights • Function • biggest changes are the 2600’s • Applied the SBDM regulation to the 1100 & 1900 function • 1100 Function changed to Instruction SBDM • 1900 Function changed to Other Instruction Non-SBDM (considered board paid) • Program • Each program level has a board paid program code • 0910 Food Service changed to 470

  5. Highlights, continued • Expenditure objects with the biggest changes are: • Most of 0330’s moved to 0340’s • 0590’s content changed • 0830’s no longer Interest now Debt-related Expenditures/Expense • 0900’s no longer Other Uses of Funds now Other Items • Revenue Objects no longer will have a 2000s of Revenue from Intermediate Sources/None in Kentucky

  6. New Features • Validation Utility for payroll and Chart of Accounts • Web based submission of the Tentative Budget • Interactive COA Web document that will be searchable with descriptions in PDF and also in Excel • Account definitions

  7. Utilities • Chart of Account Clean Up Utility • Chart of Account Change Utility • GL Account Mass Change • Account Compliance Utility (Brian Pelletier, a MUNIS employee is giving a presentation that details each one.)

  8. NEW CHART OF ACCOUNTS START DATES & IMPLEMENTATION OPTIONS Once a district’s report is submitted to KDE with the new Chart of Account structure, all future reports must also contain the new Chart of Account data. The 2008-2009 Audited AFR (Due November 2009) must be approved by KDE before districts can make changes to their Chart of Accounts. Note

  9. A District Perspective Sheila Miller from Owen County Questions & Answers Email address: karen.conway@education.ky.gov

  10. “ORGS” • ORGS will change • Stay tuned for presentation at the Fall 2009 KASBO

  11. Change does not change tradition. It strengthens it. Change is a challenge and an opportunity; not a threat. --Prince Phillip of England

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