AR HB1311

Legislative Auditor must develop a "uniform chart of accounts" financial management system for appropriated funds of cities of the second class and incorporated towns

System must provide uniform account coding structure over revenues, expenditures, and balances to ensure current financial information is always available

Must include budgeting and fund classification aspects that classify receipts, appropriations, and disbursements by object and purpose of expenditures

System designed to enable analysis of all offices and departments and provide itemized expenditure breakdowns compatible with council appropriations

Legislative Auditor has 36 months from the effective date to develop and complete a phase-in process for implementation; approved February 18, 2025