Standard Account Code Structure (SACS) in Government Accounting
Explore how the Standard Account Code Structure (SACS) mandated by the Federal Government impacts accounting practices in the state of California. Learn about the key components of SACS, its importance in tracking financial data, and how it differs from other accounting systems like BusinessPLUS.
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Presentation Transcript
BCOE Account Structure Using SACS and Escape 1
WHAT IS SACS????? Standard Account Code Structure The State of California was mandated by the Federal Government to comply with their reporting requirements. SACS or the Standard Account Code Structure is the state s answer to this mandate.
What does SACS do? SACS tell us the What, When, Why, Where, and How FUND What fund type do the funds belong in, according to GAAP (Generally Accepted Accounting Principles)? RESOURCE Where are the funds coming from? PROJECT YEAR Is there a different fiscal year? GOAL What student population is being served? FUNCTION What is the activity the funds are used for? OBJECT What are you buying? SITE Where are the services being provided? MANAGER Who is responsible for the program? 3
BusinessPLUS versus Escape BCOE used org keys in BusinessPLUS, or IFAS, to assign a fund, resource, project year, function and goal to a program Site and manager codes were also embedded in the org keys Org keys were used for revenues, expenditures and balance sheet accounts Escape uses accounts (AKA full string SACS accounting ) instead of org keys The object, site and manager codes are part of the accounts Accounts are used for revenues, expenditures and balance sheet accounts 4
BCOE Account Structure Examples SACS tell us the What, When, Why, Where, and How FUND RESOURCE YEAR OBJECT GOAL FUNCTION SITE MANAGER XX XXXX X XXXX XXXX XXXX XXXX XXXX An example of an account for a materials and supplies purchase at Hearthstone Charter School: 01 - 0000 - 0 - 4300 - 3500 - 1000 - 2080 - 2202 An example of an account for travel in the SUMS grant CFTE program: 01 - 7810 - 0 - 5200 - 8600 - 2490 - 4014 - 4000 5
FUND-XX SACS Fund designates the source of revenues and expenditures outlined by GASB (Government Accounting Standards Board) and State Accounting Guidelines Coding Required for: Revenues Expenditures Balance Sheet Accounts Most Used BCOE Fund numbers General Fund 01 Child Development Fund 12 Special Reserve for Capital Outlay Fund 40 6
RESOURCE-XXXX Project Reporting SACS Tracks activities funded with revenues that have financial reporting requirements and Activities funded with revenues that have restrictions on how funds are spent (Title I, Migrant Ed, Expanded Learning, etc.) Separates Unrestricted from Restricted Coding Required for: Revenues Expenditures Balance Sheet Accounts 7
PROJECT YEAR-X SACS Project Year is used to track those programs that follow a project year different from the fiscal year (for example, July YR1 to Sep YR2) This is a one digit field Coding Required for: Revenues Expenditures Only a handful of BCOE programs use project year (Learning Support, Calkidz) 8
GOAL-XXXX SACS Defines an instructional setting or a specific student population Regular Education Adult Education Special Education Coding Required for: Revenues Expenditures 9
FUNCTION-XXXX SACS Designates the general operational area and groups together related activities Student Instruction School Administration M & O Function is important in determining the cost of operations within a Goal Coding Required for: Revenues Expenditures 0000 is not a valid Function for any Expenditure... 10
OBJECT-XXXX SACS Classifies expenditures according to the types of items purchased or services obtained Classifies revenues by the general source and type of revenue Coding is Required for: Revenues Expenditures Balance Sheet Accounts 11
SITE-XXX SACS Site can be the physical location where the activity takes place Site can also be the org key that was assigned to a cost center in BusinessPlus Coding required for: Revenues Expenditures 12
MANAGER-XXX SACS Determines fiscal responsibility, report sort, and distribution Manager is not necessarily determined by the location, school site or program Manager can also be the cost center 13
