FL S2206

Requires state agencies, local governments, educational entities, entities of higher education, and statutorily authorized governmental entities to maintain financial data consistent with Chief Financial Officer-adopted common financial data management codes by July 1, 2011 (December 31, 2011 for some entities).

Mandates Chief Financial Officer to adopt upgraded charts of accounts by January 1, 2013 that require enterprise-wide data, permit agency-specific data, establish uniform data codes across entities, and provide at least two additional levels of expenditure specificity.

Requires all entities to comply with the new charts of accounts for any fiscal year beginning on or after July 1, 2013.

Requires Chief Financial Officer to review and update charts of accounts every 2 years beginning January 1, 2014, based on data validity and usefulness, after consulting with the Legislature and affected entities.

Takes effect contingent upon approval of SJR 2204 or a similar Joint Resolution by the electors.