HB 3471

Abstract

Amends the School Code. Requires the State Board of Education to develop and maintain a uniform accounting and reporting system for the receipts and expenditures of school districts. Provides that the accounting records maintained by each district must be coordinated with the uniform accounting system. Requires each district to record the receipts and expenditures of the district in accordance with a uniform classification of accounts or chart of accounts and reports as prescribed by the State Board. Requires each district to submit such reports and statements as may be required by the State Board. Requires the State Board to design, revise, and direct the use of accounting records and fiscal procedures and prescribe uniform classifications for receipts and expenditures for all districts. Sets forth requirements for the accounting system. Provides that the State Board shall prescribe the necessary forms to be used by districts in connection with the uniform accounting system.