1. (1) Each LEA shall:

   1. (a) record revenues and expenditures in compliance with the Board approved chart of accounts;
   2. (b) record expenditures using school location codes that can be mapped to official school location codes used in the Board system of record;
   3. (c) record expenditures using approved district and school codes in the Board system of record;
   4. (d) submit expenditures using location codes in the Utah Public Education Financial System;
   5. (e) perform program accounting in accordance with GAAP and this rule; and
   6. (f) ensure that fee and fee waiver accounting aligns with GASB34.

2. (2) Each LEA shall record and report the following expenditures for each school annually:

   1. (a) salaries;
   2. (b) benefits;
   3. (c) supplies;
   4. (d) contracted services; and
   5. (e) equipment.
3. (3) If an LEA pays for contracted services that occur at the school level, the LEA shall record the payments to the contractors in the appropriate function and object codes established under Subsection (2) at the school level.

4. (4)(a) An LEA shall record centralized administrative costs to the administrative location code.

   1. (b) The Superintendent shall allocate such costs to each school based on school enrollment.
5. (5) The Superintendent shall present one expenditure report for a school receiving more than one report card under Subsection R277-497-4(8).
6. (6) If an LEA reports expenditures in programs, the LEA shall report the expenditures to one or more schools.
7. (7) Each LEA shall request reimbursement for federal programs no less than semi-annually as funds are available.
8. (8) Each LEA shall submit an intent to fully expend or waive a federal award nine months before the end of the federal program grant award period.

KEY: school sponsored activities, public funds, fiscal policies and procedures, audit committee

Date of Last Change: July 8, 2025

Notice of Continuation: September 9, 2021

Authorizing, and Implemented or Interpreted Law: Art X, Sec 3; 53E-3-401(4); 53E-3-501(1)(e)