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A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF <br /> INDIAN RIVER COUNTY, FLORIDA, URGING MEMBERS OF THE <br /> FLORIDA LEGISLATURE TO OPPOSE LEGISLATION THAT WOULD <br /> MANDATE THE USE OF A UNIFORM CHART OF ACCOUNTS FOR ALL <br /> GOVERMENTAL ENTITIES TO REPORT FINANCIAL INFORMATION ON <br /> A MONTHLY BASIS TO THE CHIEF FINANCIAL OFFICER OF THE <br /> STATE OF FLORIDA. <br /> WHEREAS, in 2011 the Florida Legislature passed and the Governor signed Senate Bill <br /> 1292 requiring the Chief Financial Officer to recommend uniform chart of accounts for reporting <br /> financial information for all state agencies, local governments, educational entities, and entities <br /> of higher education; and <br /> WHEREAS, each entity of the state and local government is different, serves a different <br /> purpose and uses a different basis of accounting; and <br /> WHEREAS, the purpose of the Chart of Accounts Project is to develop a uniform chart <br /> of accounts to be used by all governmental entities for reporting assets, liabilities, equities, <br /> revenues and expenditures; and <br /> WHEREAS, the draft uniform chart of accounts will impact over 2350 governmental <br /> ,.. entities; and <br /> WHEREAS, each of the impacted entities are currently accountable to the electorate, <br /> citizens and users of their services; and <br /> WHEREAS, the monthly reporting may be prepared on a basis of accounting that may <br /> differ from the basis of accounting used to prepare the year-end audited financial statements and <br /> that the monthly information will not be validated; and <br /> WHEREAS, the new level of detail required at the fund and object level for monthly <br /> reporting is far greater than the level of detail reported either in the audited financial statements <br /> or in the Annual Financial Report required pursuant to the provisions of Section 218.32(1)(a), <br /> Florida Statutes; and <br /> WHEREAS, there will be no attempt to validate any of the data before it is posted for <br /> public viewing and this results in a high risk that the data will be inaccurate, invalid or <br /> incomplete; and <br /> WHEREAS, the establishment of a uniform chart of accounts without requiring <br /> uniformity in other areas such as in the basis of accounting and in the accounting treatment of <br /> various transactions in itself will not provide users with any meaningful comparisons between <br /> organizations; and <br /> y... <br /> 98 <br />