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Board approves R277-113 on second reading, delays accrual section to May meeting
Summary
The board approved R277-113, the LEA fiscal and auditing policies, on second and final reading and directed staff to return with revised language on accrual accounting (section 8) at the full-board meeting in May after members raised concerns about implementation cost and privacy.
The board approved R277-113, titled “LEA fiscal and auditing policies,” on second and final reading and asked staff to return with updated language for the rule’s accrual-accounting section at the May full-board meeting.
Member Davis, who moved the substitute motion, said the accrual and contra-revenue accounting requirements have been the subject of repeated debate. “It has literally taken me 5 years and probably the last few hours to finally understand what I haven't understood about this…requirement for accrual and contra revenue accounting in our LEAs,” Member Davis said. She said many local education agencies (LEAs) are not doing full accrual now and that doing so will require systems that communicate—student information systems and finance systems—which she estimated can cost “hundreds of thousands of dollars” to implement.
The motion approved the draft policy on second and final reading and directed staff to bring back…
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