Code of AccountsOASBO Finance Committee MeetingFinancial Analysis and Accountability BranchFebruary 26, 2015

Overview• Workgroup was formed in November 2014 to update the Uniform Code of Accounts

to be released with the 2015-16 Grant for Student Needs

• Thank you to everyone that joined the workgroup and provided valuable suggestions and feedback

• Object and Function Codes along with Schedule 10 were reviewed over 5 meetings

• Changes that were captured included:

• Reporting Changes• Making codes optional in order to provide boards with some flexibility in

reporting• Adding examples and definition to add clarity and provide consistency

• File will be send out March 2 for review. Please send your comments back by March 9, 2015

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Reporting Changes

• Added Object Code 876-878 for Assets Held for Sale Land, Building, and Land Improvements

• Added Function Code 90 and 91 for Capital Priorities – Major Capital Programs and Capital Priorities - Land

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Optional Codes

• With the implementation of capital assets, Object codes 330 (Instructional Supplies) and 551 (Furniture & Equipment General) are redundant. As a result, boards are not required to differentiate between these accounts. Boards have the option of choosing to reporting in either 330 or 551. However, if boards wish, they can continue to use both codes.

• Object Codes 183 (Supply Short Term) and 184 (Supply Long Term) can be combined into one code

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Description Updates and Examples

• Object 405 - Telephone - Voice– Updated for changes in technology– “Includes the cost of telephone used for voice

communication and data related to mobile communication devices.”

– Examples: Cell phone, Tablets• Object 170 – Teachers - Other

– Example: Assessment lead supporting teachers (25-170) 5

Questions and Feedback

Sangita Forodi

sangita.forodi@ontario.ca

(416) 325-8584

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