School Finance Badge #01: Basics of Account Codes-School Finance Badge #1

Video Transcription

Video Summary

Holly Berling explains Washington State school district account code structure and why districts are legally required to use the codes in the OSPI School District Accounting Manual for state/federal reporting. She overviews fund type codes (e.g., General Fund, Capital Projects) and notes only the first digit is state-required; General Fund also uses subfunds to distinguish state/federal basic education vs local revenues.<br /><br />She describes general ledger (GL) codes (3 digits) used for balance sheet and operating statements, including how the manual lists applicability, cash-basis limits, and typical debits/credits. Operating statement GLs include revenues (960), other financing sources (965), expenditures (530), and other financing uses, each with required subsidiary codes. Revenue subsidiary codes (chapter 5) are categorized (1000 taxes, 2000 local support, 3000 state general purpose, 4000/6000 restricted special purpose, etc.); ASB does not use these revenue codes.<br /><br />Expenditure coding (chapter 6) uses program, activity, object/NCES, and location codes (federal reporting). She stresses correct coding for restricted programs to avoid carryover/recovery issues and highlights OSPI tools (carryover/recovery spreadsheets, fund balance reporting). Finally, she covers validation of allowable code combinations using Appendix A and OSPI’s “Valid COA Lookup Tool,” plus brief notes on Capital Projects, Transportation Vehicle, ASB club codes, trusts/custodial, and Debt Service.

Keywords

Washington State school district account codes

OSPI School District Accounting Manual

fund type codes and subfunds (General Fund)

general ledger (GL) code structure

revenue subsidiary codes (Chapter 5)

expenditure coding: program activity object location (Chapter 6)

restricted program coding carryover/recovery

Appendix A and OSPI Valid COA Lookup Tool