FL H0977

State agencies must maintain financial data consistent with Chief Financial Officer codes adopted by January 1, 2011, with compliance required by July 1, 2012.

Local governments, educational entities, and statutorily authorized governmental entities must comply with applicable common financial data management codes by July 1, 2012 or December 31, 2012, depending on entity type.

Chief Financial Officer must adopt upgraded charts of accounts by January 1, 2014, requiring enterprise-wide data, uniform codes across entities, and at least two additional levels of expenditure specificity.

All entities must comply with the upgraded charts of accounts for any fiscal year beginning on or after July 1, 2014.

Chief Financial Officer shall review and update charts of accounts every 2 years beginning January 1, 2015, after consulting with the Legislature and affected entities.