Indiana Code 20-42.5-3-7. Chart of accounts requirements
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Sec. 7. (a) The chart of accounts used by school corporations must:
(2) provide the ability to determine expenditures made at and for each individual school building of a school corporation.
(1) coincide with the categories of expenditures described in section 5(a)(4)(A) of this chapter; and
Terms Used In Indiana Code 20-42.5-3-7
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Each school corporation shall on January 1, 2019, begin using the chart of accounts developed under this section.
(b) The state board of accounts may, in consultation with the department and the office of management and budget, modify the chart of accounts as necessary to make the chart of accounts coincide with the categories of expenditures described in section 5(a)(4)(A) of this chapter.
As added by P.L.244-2017, SEC.91. Amended by P.L.130-2018, SEC.91.