Department of Financial Services
Chart of Accounts Project
Executive Summary
I.
Objective
The objective of the Charts of Account Project is to develop a Uniform Chart of Accounts to be used by all
governmental entities for the reporting of assets, liabilities, equities, revenues and expenditures. At the end of
the project, a recommendation will be presented to the Governor, the President of the Senate, and the Speaker of
the House of Representatives. The recommendation will include a chart of account listing, reporting
requirements, and estimated cost for implementing the uniform chart of accounts as set forth in Section 215.89,
Florida Statutes(Chapter 2011-44).
It is not the intent of the law to require reporting entities to replace their accounting systems or to require the
uniform charts of accounts replace their existing chart of accounts. Reporting entities can develop crosswalks to
map their existing accounts to the uniform chart of accounts for reporting purposes.
II.
Scope
The uniform chart of accounts will apply to the following governmental entities as defined in Section 215.89 (2),
Florida Statutes:
 Educational Entities – school districts and any entities created by a school district
 Entities of Higher Education – State universities, State or Florida College System institutions, and any other
entities created by an entity of higher education
 Local Governments – cities, counties, water management districts, special districts, and any other entities
created by one of these units of local government
 State Agencies – executive and cabinet agencies, judicial agencies, Public Service Commission, Florida Clerks of
Court Operations Corporation, and Florida Housing Finance Corporation
III.
Project Timeline
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October 1, 2011 – The Department begins holding workshops throughout the State to gather input from
reporting entities. Material from each workshop will be available on the Project’s website:
http://www.myfloridacfo.com/aadir/COA/
July 1, 2013 – A draft proposed chart of accounts shall be provided to the state agencies, local governments,
educational entities, and entities of higher education. Reporting entities may begin submitting comments.
August 26, 2013 – The Department will post instructions for the submission of cost estimates that should be
submitted by the impacted reporting entities.
September 4, 2013 – The Department will publish the schedule for webinars. Webinars will provide an
overview of reporting requirements and the process for submission of cost estimates.
November 1, 2013 – Comments and cost estimates are due from impacted reporting entities.
January 15, 2014 – The Chief Financial Officer will submit a report recommending a uniform chart of accounts
to the Governor, President of the Senate, and Speaker of the House of Representatives. The report will
include the estimated cost of adopting and implementing a uniform enterprise-wide chart of accounts.