Florida § 1010.01 - Uniform records and accounts.

§ 1010.01. Uniform records and accounts.

(1)(a) The financial records and accounts of each school district, Florida College System institution, and other institution or agency under the supervision of the State Board of Education shall be prepared and maintained as prescribed by law and rules of the State Board of Education. (b) The financial records and accounts of each state university under the supervision of the Board of Governors shall be prepared and maintained as prescribed by law and rules of the Board of Governors. (2) Rules of the State Board of Education and rules of the Board of Governors shall incorporate the requirements of law and accounting principles generally accepted in the United States. Such rules shall include a uniform classification of accounts. (3) Each state university shall annually file with the Board of Governors financial statements prepared in conformity with accounting principles generally accepted by the United States and the uniform classification of accounts prescribed by the Board of Governors. The Board of Governors’ rules shall prescribe the filing deadline for the financial statements. (4) Required financial accounts and reports shall include provisions that are unique to each of the following: K-12 school districts, Florida College System institutions, and state universities, and shall provide for the data to be reported to the National Center of Educational Statistics and other governmental and professional educational data information services as appropriate. (5) Each school district, Florida College System institution, and state university shall establish and maintain internal controls designed to: (a) Prevent and detect fraud, waste, and abuse as defined in s. 11.45(1). (b) Promote and encourage compliance with applicable laws, rules, contracts, grant agreements, and best practices. (c) Support economical and efficient operations. (d) Ensure reliability of financial records and reports. (e) Safeguard assets.