Board Policy DI Accounting and Reporting

                                                                                             Board Policy Manual
                                                                                     DeKalb County School District




 Board Policy DI: Accounting and Reporting                                                               Status: ADOPTED

 Original Adopted Date: 09/11/2000 | Last Reviewed Date: 09/11/2000


FINANCIAL MANAGEMENT SYSTEM

MISSION: To ensure proper accounting of all DeKalb County School System funds.

The DeKalb County Board of Education endorses the principles contained in Statement I issued by the National
Council on Governmental Accounting, as modified for local educational agencies (LEA), and with all legal
requirements:
      The accrual basis of accounting should be used for proprietary funds and trust funds.
      The modified accrual basis of accounting should be used for governmental funds and expendable trust funds to
      the extent feasible and practical, but must be in compliance with all state and federal requirements.
      The accounting systems must be capable of producing financial reports in conformity with generally accepted
      accounting principles.
      The accounting system should provide for the classification of revenues, expenditures, and expenses into
      certain specific categories as determined by state and federal regulations.
      The accounting system should consistently utilize terminology and classifications common to the funds
      maintained.
      A comprehensive annual financial report should be issued. Interim financial statements should be prepared to
      facilitate management control of financial operations and to provide full disclosure of the financial position of
      the school system.
      It is the desire of the DeKalb County Board of Education that the accounting system should be organized and
      operated on a fund basis using no more than six types of funds. To comply with this operating procedure, the
      school system should establish the least number of funds possible.
The six funds are as follows:
  1. General Fund
  2. Special Revenue Funds
  3. Capital Projects Funds

  4. Debt Service Funds
  5. Enterprise Funds

  6. Trust and Agency Funds
Fixed assets and long-term liabilities not related to specific proprietary funds or trust funds should be accounted for
in the general fixed asset and general long-term debt groups. Fixed assets should be accounted for the in the
manner prescribed by the State of Georgia for LEAs.
It is further the desire of the Board that any changes in the existing financial management information system nor or
in the future, comply and be consistent with the principles.
Accounting
The Superintendent shall be responsible for the development of procedures for accounting of local school funds and
for the administration of such procedures including collection, disbursement, transfer, and accountability by the
principal of the local school. Such procedures shall be developed in accordance with state and local Board policies.