Annual Report - Uniform System of Accounting
OFFICE OF FINANCE
POLICY AND PROCEDURE
SUBMITTAL BY MUNICIPALITIES OF AN ANNUAL REPORT UTILIZING THE UNIFORM SYSTEM
OF ACCOUNTING PER SECTION 7-406c(b) OF THE GENERAL STATUTES
Issued: June 7, 2018
Purpose: The Secretary has developed the policy below to outline the process that municipalities are to use in order to conform with the financial reporting requirements contained in Section 7-406c(b) of the General Statutes.
Statutory Requirements. According to subsection (a) of Section 7-406c of the Connecticut General Statutes, the Secretary of the Office of Policy and Management was required, not later than July 1, 2014, to develop and implement a Uniform System of Accounting for municipal revenues and expenditures, including, but not limited to, general fund and grant agency expenditures and revenue. Subsection (b) of that section, required that, not later than June 30, 2015 and each year thereafter, each municipality shall utilize such uniform system to complete and file an Annual Report with the Office of Policy and Management as may be required by the secretary in order to increase transparency regarding municipal expenditures and to meet the state's benchmarking goals.
Notification of Municipal Employee or Official Assigned to Complete and File the Annual Report. Beginning with the fiscal year ended June 30, 2018, and each year thereafter, the chief executive officer of each municipality shall notify the Secretary of the name and title of the municipal official or employee that has been assigned the responsibility of completing and filing the Annual Report in accordance with the Uniform System of Accounting as provided under Section 7-406c(b). The notification to the Secretary shall be made not later than September 1, 2018 and each September 1 thereafter.
Due Date for Filing the Annual Report and Extensions for Filing.
Each municipality shall each year complete and file the Annual Report for the June 30th fiscal year end in accordance with the Uniform System of Accounting as provided under Section 7-406c(b) not later than January 31st following the end of such fiscal year. If the audit provided under Section 7-393 of the General Statutes is not completed and submitted by the December 31st date following the end of the fiscal year, the Annual Report in accordance with the Uniform System of Accounting shall be completed and filed not later than 30 days after the completion and submission of the audit.
The Secretary may extend the filing date of the Annual Report under section 7-406c(b) established under this policy provided such municipality’s chief executive officer requests such an extension and, as part of such request, identifies the reasons why additional time is needed for the filing and the date the municipality intends to file the Annual Report. The extension request is to be made no later than 15 days prior to the due date of the filing of the Annual Report or any extension date that was previously granted for the filing of the Annual Report. Extensions granted for the filing of the Annual Report under section 7-406c(b) shall not exceed six-months from the January 31st original due date of the filing. The Secretary may request additional information in order to determine whether to grant the extension request including the submission of a corrective action plan.
Mapping and Reporting Tool for filing the Annual Report: You can file your municipality’s Annual Report in accordance with the Uniform System of Accounting (the Municipal Uniform Chart of Accounts) at the following web address: https://ucoa.ct.gov
Forms: Click on the forms link below for the forms to be used to notify OPM of the person assigned to file the Annual Report or to request an extension for filing the Annual Report.
Municipal Uniform Chart of Accounts Forms
Contact: If you should have any questions on the above, please contact Bill Plummer at firstname.lastname@example.org or at 860-418-6367.