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Code of Colorado Regulations eDocket

Details of Tracking Number  2010-01036


CCR details

Tracking Number 2010-01036
Type of Filing Permanent Rule
Department 300 Department of Education
Agency 301 Colorado State Board of Education
CCR Number 1 CCR 301-11
CCR Title AMENDMENTS TO THE RULES FOR ACCOUNTING AND REPORTING

Proposed rule

Statutory Authority 22-2-107(1)(c) and 22-30.2-603 C.R.S.
Description of Subjects/Issues amendment of the existing rules for accounting and reporting to conform to legislation 22-30.2-603 C.R.S.
Purpose/Objective of Rule The 2010 changes to the rules are due to statutory amendments in HB 08-1388 and SB 10-161, modifications to Governmental Accounting Standards (Statement No. 54), and procedural changes by the U.S. Department of Agriculture (elimination of the separate commodity coding). The Accounting and Reporting law identifies seven funds to be used by school districts in financial accounting and reporting and specifies conditions and requirements regarding the use of these funds. The funds are: General Fund, Bond Redemption Fund, Capital Reserve Fund, Special Building and Technology Fund, Risk Management Reserves, Transportation Fund, and Full-day Kindergarten Fund. Article 45 allows the authorization through regulation of additional funds by the state board of education. These regulations authorize ten additional funds for use by school districts in financial management and reporting. Generally accepted principles of governmental accounting permit the use of these funds.
Submitted in response to issues raised by COLS/OLLS? No
Is this rule adopted in response to recent legislation?
Hearing Date 01/12/2011
Hearing Time 01:30 PM
Hearing Location Colorado Department of Education, State Board Room, 201 E. Colfax Ave., Denver, CO 80203
Contact name Mary Frances Nevans
Contact title Director of State Board Relations
Contact telephone 303 866-6809
Contact email Nevans_mf@cde.state.co.us

Adopted rule

Adopted Rules AdoptedRules02010-01036.RTF
Redline Redline2010-01036.RTF
Adopted Date 01/12/2011
Attorney General Opinion 01/25/2011
Effective Date 03/02/2011
Inserted into CCR 02/23/2011