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Kentucky’s Chart of Accounts

Kentucky’s Chart of Accounts. Office of Educational Accountability Efficiency Study recommends: Aligning with the NCES’ Chart Of Accounts for establishing efficiency & effectiveness.

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Kentucky’s Chart of Accounts

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  1. Kentucky’s Chart of Accounts Office of Educational Accountability Efficiency Study recommends: Aligning with the NCES’ Chart Of Accounts for establishing efficiency & effectiveness Kentucky Department of Education KASBO 2007

  2. Opening: Central Office Reporting • Central Office reported $132,849,091 in 2002 & now in 2006 $106,746,911 • Today less salaries are reported for Central Office because we realigned how staff was reported • The OEA COA study recommends alignment with NCES’ COA

  3. Action • KY must align our COA with the National Center of Education Statistics ( NCES) COA in order to compare statewide data across the nation. • KDE has begun the process of analyzing our COA and making changes to make our data a more efficient and effective in financial analysis and studies.

  4. Benefits • Districts’ willingness for these changes will benefit by: • Funding • Properly recorded expenditures will facilitate sound fiscal decision making • Reporting • Aid in making KY’s district data more comparative across the nation • Enhances NCLB reporting • Enhances KY’s ability to analyze efficiency & effectiveness for NCLB mandates

  5. Close • KDE will be aligning their COA to NCES’ • Committee is reviewing all components of the COA and will make appropriate changes • Changes made will be communicated to the districts and KDE will develop tools to aid the districts to make those changes • KY will work to be efficient and effective and our data shall be useful to us and across the nation

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