1. (a) The chart of accounts used by school corporations must:

   1. (1) coincide with the categories of expenditures described in section 5(a)(2) of this chapter; and

   2. (2) provide the ability to determine expenditures made at and for each individual school building of a school corporation.

      Each school corporation shall use the chart of accounts developed under this section.

2. (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)(2) of this chapter.

As added by P.L.244-2017, SEC.91. Amended by P.L.130-2018, SEC.91; P.L.74-2026, SEC.151.