Section 100.30  General Requirements

a)         Each school board shall use an appropriate set of journals and ledgers for the recording, summarization, and control of transactions and shall use the double-entry bookkeeping method and a fund accounting system.

b)         Each school board shall establish and maintain the number and types of funds necessitated by the nature and scope of its operations.

c)         Each chart of accounts shall incorporate at least the following dimensions:

1)         fund or fund group (see Table A of this Part);

2)         balance sheet accounts (see Table B of this Part);

3)         revenue sources (see Table C of this Part);

4)         expenditure purposes or functions (see Table D of this Part); and

5)         expenditure objects (see Table F of this Part).

d)         Each school board shall use the account codes assigned by the State Superintendent of Education.  However, any number not listed in the tables of this Part may be used if the description falls within the relevant classification.  Prefixes and suffixes may also be used, provided that the basic code assigned by the State Superintendent remains discernible for purposes of aggregating and reporting information.