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INTRODUCTION w During the 2011 Florida legislative session,Section 215.89, Florida Statutes, was created. The legislative intent, as stated in the provisions of Section 2011-44, Laws of Florida, is as follows: 1)That a mechanism be provided for obtaining detailed, uniform reporting of government financial information to enable citizens to view compatible information on the use of public funds by governmental entities; 2)That uniform reporting requirements be developed specifically to promote accountability and transparency in the use of public funds;and 3) In order to accommodate the different financial management systems currently in use, separate charts of account may be used as long as the financial information is captured and reported consistently and is compatible with any reporting entity. The Legislature delegated the responsibility and authority for implementing the provisions of Section 215.89, Florida Statutes, to the state's Chief Financial Officer (CFO). The state CFO has proposed a Uniform Chart of Accounts (UCOA) and reporting requirements. This white paper summarizes the issues related to the proposed UCOA reporting requirements and concerns of local government finance professionals in an effort to assist state CFO Jeff Atwater in his efforts to implement the requirements of Section 215.89, Florida Statutes. As government finance professionals and/or elected officials accorded the responsibility of managing government funds, we acknowledge that accountability and transparency of the use of public funds by our entities is first and foremost with respect to our training and our actions. In these challenging financial times, perhaps now more than ever,transparency and accountability are essential to good government. Various sections of the Florida statutes provide for the creation, operation and enumerated powers for counties, municipalities, school boards and special districts. The statutes also empower many of these entities to levy and collect taxes and,to the extent not inconsistent with general or special law,grant several powers for each entity to self-govern. Clearly, the intent of the Legislature has been, to the extent possible, to allow these entities the ability to govern themselves. It is also clear that the Legislature has established parameters to ensure these entities provide financial and legal accountability to its citizens. In addition, Section 11.45, Florida Statutes, requires these entities to periodically provide for a financial audit. These financial audits must be conducted in accordance with auditing standards generally accepted in the United States and government auditing standards and, when applicable, in accordance with the Florida Single Audit Act and the Federal Single Audit Act Amendments of 1996. 3 85