Uniform Chart of Accounts

The 2023 Chart of Accounts is a revised listing of account numbers that can be used by finance officers when developing their own listing of accounts for a uniform bookkeeping system. The listing was adopted by the City Finance Committee. This listing was formulated as a response to the changes in city budgeting brought about by GASB 34 and changes from the Property Tax Reform Act.

Here are some reports your accounting system should be able to produce for each fund:
The Statement of Revenues, Expenditures and Changes in Fund Balances

• Revenues
• Expenses
• Changes in Fund Balances

Budget to Actual Activity Reports (Revenues and Expenditures)

• Current Monthly Activity
• Year to Date Activity
• Budgeted Amount
• Amount of Budget Remaining

A government version of the balance sheet contains:

• Assets
• Liabilities
• Fund Equity

See City Budget Funds (for a description of each of the fund categories listed below)

Revenue and expense accounts then follow the standard of first listing the items most closely related to the operations of the city. For example, property taxes are listed as the primary revenue to support governmental activities, while wages are one of the most common expenses.

Other accounts used in many accounting systems are referred to as “subsidiary or supplementary” accounts. These accounts are a combination of account segments that show the detail or line item of many trial balance reports. Some cities use this level of detail to review individual spending levels over multiple years. One drawback to line item detail analysis for budgeting is that service level delivery in one year may be adversely affected by weather, changes in service focus or other emergencies.

An example of how a revenue account might look using this COA would be: General Fund Property Taxes 101-4000 

An expenditure account might look like: General Fund, Police Department, Wages 101-110-6010