DEPARTMENT OF FINANCIAL SERVICES
Meeting Name: Chart of Accounts
Date: October 4, 2013
Time: 3:00 p.m. to 4:00 p.m.
Location: State Board of Administration – Hermitage
Agenda
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Welcome and Introductions
Chart of Accounts Project Initiative and Activities
Review of Uniform Chart of Accounts Reporting Requirements
State Agency Involvement
Next Steps
Attendees:
State Board of Administration (SBA) - Donna Senn; Lori Guido; Robert Copeland;
Donna Senn; Carolyn Walker; Jane Zody
Department of Financial Services - Christina Smith; Danielle Kosberg; Asheema
Vemuri
Meeting Minutes:
Christina Smith provided an overview of the Chart of Accounts (COA) presentation, the
draft COA document, and the Crosswalk.
(SBA) asked if they were specifically listed in the statute. Jane Zody mentioned that they
have their own statute requirements and this reporting requirement will duplicate the
reporting requirements.
Christina stated that the Department of Financial Services (DFS) intends to ensure that all
the statutes are combined such that entities do not have to duplicate data processing.
DEPARTMENT OF FINANCIAL SERVICES
Crosswalk – Christina stated that the list will be updated and is an evolving list.
Frequency of Reporting – Christina stated that there will be separate report presentations:
reporting will be monthly for Revenues, Expenditures, and Other Sources and Uses;
reporting will be annual for Assets, Liabilities, and Equities.
SBA stated that they have 7 funds and about 600 trust funds. They asked if the FRS,
CAT, Prepaid funds should also be reported. They also asked about Investments and
Debt Service funds. DFS may recommend that Investments, Debt Service, Capital
Project funds be reported only annually.
Christina said that maybe SBA can identify specific revenues and expenditures to be
reported.
There was a brief discussion of the object code project and SBA’s usage.
Meeting was adjourned.