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Chart of Accounts <br /> Account Code Structure <br /> Fund Purpose PRC Object Location Use 1 Use 2 <br /> X XXXX XXX XXX XXX XXX XX <br /> Example: 1.5110.001.121.300.000.00 <br /> Fund Codes <br /> The Chart of Accounts uses six funds and one self-balancing group of accounts which we believe <br /> are appropriate for use by a local school administrative unit; however, other funds may be added <br /> as required. The Fund Codes are as follows: <br /> 1- State Public School Fund -Appropriations for the current operating expenses of the public- <br /> school system from monies made available to the local school administrative unit by the <br /> Department of Public Instruction. <br /> 2- Local Current Expense Fund -Appropriations for the current operating expenses of the <br /> local school administrative unit other than appropriations included in the State Public School <br /> Fund and the Federal Grant Fund. This shall include, but not be limited to, revenues from fines <br /> and forfeitures, county appropriations for current expenses, supplemental taxes levied for current <br /> expenses, state allocations. <br /> 3- Federal Grant Fund -Appropriations for the expenditure of federal categorical grants made <br /> available through the Department of Public Instruction. <br /> 4- The Capital Outlay Fund -Appropriations for: <br /> a) The acquisition of real property for school purposes, including but not limited to <br /> school sites, playgrounds, athletic fields, administrative headquarters, and garages; <br /> b) The acquisition, construction, reconstruction, enlargement, renovation, or replacement <br /> of buildings and other structures, including but not limited to buildings for classrooms <br /> and laboratories, physical and vocational educational purposes, libraries, auditoriums, <br /> gymnasiums, administrative offices, storage, and vehicle maintenance; <br /> c) The acquisition or replacement of furniture and furnishings, instructional apparatus, <br /> data processing equipment, business machines, and similar items of furnishings and <br /> equipment; <br /> d) The acquisition of school buses as additions to the fleet; <br /> e) The acquisition of activity buses and other motor vehicles; <br /> f) Such other objects of expenditures as may be assigned to the Capital Outlay Fund by <br /> the uniform budget format. The cost of acquiring or constructing a new building, or <br /> reconstructing, enlarging, or renovating an existing building, shall include the cost of all <br /> real property and interests in real property, and all plants, works, appurtenances, <br /> structures, facilities, furnishings, machinery, and equipment necessary or useful in <br /> connection therewith; financing charges; the cost of plans, specifications, studies, reports, <br /> 22 <br />