14 Del. Admin. Code § 735
Department of Education
Office of the Secretary
700 Finance and Personnel
735 Standardized Financial Reporting and Transparency
The purpose of this regulation is to outline the criteria and process for the required standardized financial reporting pursuant to14Del.C.§122(b)(11); and the uniformity and transparency in the financial practices of the school districts and charter schools pursuant to14Del.C.§§1508 and 1509.
The following words and terms, when used in this regulation, have the following meanings:
"Charter school" means a non-home based full-time public school that is operated in an approved physical plant under a charter granted by, or transferred to, the Delaware Department of Education or other authorizing body for the personal physical attendance of all students.
"District" means a reorganized school district or vocational technical school district established pursuant to 14Del.C.Ch. 10.
"First State Financials" or "FSF" means the State of Delaware’s system for managing financial transactions.
"Open Checkbook" means the State of Delaware's official online checkbook that provides the ability to view payment information by state agency, expenditure category, or vendor and includes information on credit card transactions of state employees.
"PHRST" means the State of Delaware's payroll and human resources system.
Standardized financial reports shall provide a summary of the district’s or charter school’s financial data provided in a format approved by the Delaware Department of Education that includes the district’s or charter school’s most current expenditure and revenue budgets. This documentation shall include encumbrances, expenditures, and remaining balances by category as prescribed in the approved format. Districts and charter schools shall indicate on the reports whether the most current expenditure and revenue budgets are preliminary, amended, or have been finalized by its approving entity.
4.1 Each district and charter school shall be required to use the following: