Reference Section R.1

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1 Manual of Accounting and Financial Reporting for Pennsylvania Public Schools REFERENCES TABLE OF CONTENTS R.1 Professional Organizations R.2 American Institute of Certified Public Accountants (AICPA) R.2 Association of School Business Officials (ASBO) International R.2 Government Finance Officers Association (GFOA) R.3 Governmental Accounting Standards Board (GASB) R.3 Pennsylvania Association of School Business Officials (PASBO) R.4 Pennsylvania Institute of Certified Public Accountants (PICPA) R.4 Pennsylvania School Boards Association (PSBA) R.5 Acronyms R.6 Common Acronyms R.6 R.A

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3 This section includes a list of organizations that can provide information to your school, as well as a list of acronyms commonly used in school accounting. R.1

4 Professional Organizations American Institute of Certified Public Accountants (AICPA) The American Institute of Certified Public Accountants (AICPA) is the national, professional organization for all Certified Public Accountants. Its mission is to provide members with the resources, information, and leadership that enable them to provide valuable services in the highest professional manner to benefit the public as well as employers and clients. The AICPA works with state CPA organizations and gives priority to those areas where public reliance on CPA skills is most significant. They also offer an on-line catalog to assist members. Contact AICPA: Web Site: Association of School Business Officials (ASBO) International Founded in 1910, the Association of School Business Officials (ASBO) International is a professional association of more than 6,200 school business management professionals. They provide programs and services to promote the highest standards of school business management practices, professional growth, and the effective use of educational resources. ASBO also has publications containing information on topics affecting schools, such as School Business Affairs Magazine, Journal of Education Finance, and ASBO Accents. ASBO holds an annual leadership conference which allows ASBO leaders and affiliates to improve working relations and build a strong network of organizations representing school business officials. It is open to all members. Contact ASBO: Web Site: North Shore Drive Reston, Va (866) R.2

5 Government Finance Officers Association (GFOA) GFOA is the professional association of state/provincial and local finance officers in the United States and Canada, and has served the public finance profession since The association s 14,100 members are dedicated to the sound management of government financial resources. The Association administers a broad range of services and programs in the major functional areas of government financial management, including accounting, auditing, and financial planning, along with many other areas. GFOA is the publisher of Governmental Accounting, Auditing and Financial Reporting (GAAFR). All schools should request this book if they don t have it. Contact GFOA: Web Site: Governmental Accounting Standards Board (GASB) The GASB was organized in 1984 by the Financial Accounting Foundation (FAF) to establish standards of financial accounting and reporting for state and local governmental entities. Its standards guide the preparation of external financial reports of those entities. The Foundation is also responsible for selecting the members of the GASB and its Advisory Council, funding their activities, and exercising general oversight. The GASB s function is important because external financial reporting can demonstrate financial accountability to the public and is the basis for investment, credit, and many legislative and regulatory decisions. Schools can request copies of GASB Statements and The Codifications GASB publishes. Contact GASB: Web Site: Merritt 7 P.O. Box 5116 Norwalk, Connecticut (203) R.3

6 Pennsylvania Association of School Business Officials (PASBO) PASBO has over 2,000 members who are involved in all aspects of the business and services functions of both public and non-public schools. Active members are wholly or partially responsible for budgeting, school finance, accounting, purchasing and supply management, data processing, maintenance and operation, school plant planning and construction, personnel management and other areas of school business. PASBO is a non-profit corporation and operates under the provisions of its by-laws. The association is governed by a Board of Directors consisting of the President, president-elect, Vice President, Past Presidents and nine directors elected at large. An Executive Director is appointed by the Board. Throughout the state, twenty-seven regional chapters are organized to provide service to PASBO members. They offer written information and workshops, among other services, on various topics for school professionals. They also keep schools informed of current issues affecting school accounting. Contact PASBO: Web Site: Office Location: 2579 Interstate Drive pasbo@pasbo.org Harrisburg, PA Mailing Address: P.O. Box 6993 Harrisburg, PA (717) Pennsylvania Institute of Certified Public Accountants (PICPA) The Pennsylvania Institute of Certified Public Accountants (PICPA) is an active professional association of more than 19,000 accounting professionals working together to better serve the public interest, as well enhance the accounting profession. Founded in 1897, it is the second oldest and fifth largest state CPA organization in the United States. Membership includes practitioners in public accounting, industry, government, and education. The mission of the PICPA is to further the well being of its members, while upholding the public interest. The PICPA offers a number of state conferences and workshops. The also have several member services and benefits. Contact PICPA: Web Site: Arch Street info@picpa.org Philadelphia, PA (215) CPA-2001 (Toll free in PA) R.4

7 Pennsylvania School Boards Association (PSBA) The PSBA is a nonprofit statewide association of public school boards, pledged to the highest ideals of local leadership for the public schools of the commonwealth. It was the first school boards association established in the United States, founded in One of the most effective services PSBA provides is person-to-person communication between their membership and staff. While the local board joins PSBA as a unit, many services are directed to individuals in addition to those directed to the board and the community. Every working day PSBA staff regularly respond to more than 400 incoming calls from local board members, administrators, school attorneys, other local officials, the public and the news media. They also offer written information and workshops on various activities affecting schools. Contact PSBA: Web Site: P.O. Box 2042 Mechanicsburg, PA (717) R.5

8 Acronyms Common Acronyms ADA... Average Daily Attendance ADM... Average Daily Membership AFR... Annual Financial Report AG... Auditor General AICPA... American Institute of Certified Public Accountants AIE... Actual Instructional Expense AIE/WADM.. Actual Instructional Expense Per Weighted Average Daily Membership APS... Approved Private School AUN... Administrative Unit Number AVTS... Area Vocational Technical School BANs... Bond Anticipation Notes BER... Base Earned for Reimbursement BFS... Basic Financial Statements CAFR... Comprehensive Annual Financial Report CATS... Career and Technical Education Information System (formerly VEMIS) CFDA... Catalog of Federal Domestic Assistance EAP... Educational Assistance Program EM... Equalized Mills FAI... Financial Accounting Information FASB... Financial Accounting Standards Board GAAFR... Government Accounting, Auditing and Financial Reporting GAAP... Generally Accepted Accounting Principles GAAS... Generally Accepted Auditing Standards GAGAS... Generally Accepted Government Auditing Standards GAO... U.S. General Accounting Office GASB... Governmental Accounting Standards Board GFOA... Government Finance Officers Association IEP... Individualized Education Program IU... Intermediate Unit LEA... Local Educational Agency LECS... Labor, Education and Community Services (Comptroller s Office) R.6

9 MD&A...Management Discussion and Analysis MFBA...Measurement Focus and Basis of Accounting MV...Market Value MVAR...Market Value Aid Ratio MV/PI AR...Market Value Personal Income Aid Ratio NCGA...National Council on Governmental Accounting OMB...U.S. Office of Management and Budget OPEB...Other Postemployment Benefits PRRI...Private Residential Rehabilitative Institution PSERS...Pennsylvania Public School Employees Retirement System RANs...Revenue Anticipation Notes RIDC...Restricted Indirect Cost TANs...Tax Anticipation Notes TRANs...Tax and Revenue Anticipation Bonds VADM...Vocational Average Daily Membership WADM...Weighted Average Daily Membership R.7