Setup and Maintain Chart of Accounts (10.1)
  • 16 Nov 2023
  • 3 Minutes to read
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Setup and Maintain Chart of Accounts (10.1)

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Article summary

Business Process Overview

This business process addresses how a central Chart of Accounts (COA) is set up and maintained in Florida PALM. The Set Up and Maintain Chart of Accounts business process is within the Account Management and Financial Reporting (AMFR) business process grouping. AMFR includes a collection of business processes that: 

  • Establish the statewide accounting framework and provide for agency-specific accounting and reporting needs;
  • Update the general ledger and maintain the integrity of the financial activities; and 
  • Perform month-end and year-end closing and reporting activities. 

This business process addresses how the State’s COA is set up and maintained in Florida PALM. This business process also supports the addition, updates, and inactivation of ChartField values, ChartField Attribute, and associated system configurations, including Tree, SpeedKeys and ChartField Combination Edits.  

The business subprocesses included are: 

Florida PALM’s COA design consists of multiple ChartFields, which are used for budgetary and financial reporting needs. ChartFields are maintained at the agency or statewide level. Agency and statewide ChartField ownership or maintenance determines who approves and completes requests to add or update ChartField values, Attributes, or related system configurations. 

Dependencies and Constraints

Dependencies and Constraints describe any conditions or criteria that impact how or when the business process should be executed. These could be set within Florida PALM or from external sources (i.e., Law or Rule). 

  • Section 215.93, Florida Statutes provides that the Florida Financial Management Information System (FFMIS) subsystems utilize the chart of accounts (COA) approved by the Chief Financial Officer (CFO). COA includes data codes, titles, and definitions used by one or more of the functional owner subsystems.
  • Section 215.32(2)(b)1, Florida Statutes provides that the CFO may establish accounts within the trust fund at a level considered necessary for proper accountability. Once an account is established, the CFO may authorize payment from that account only upon determining that there is sufficient cash and releases at the level of the account.
  • Budgetary codes are developed and published in the Legislative Appropriations System/Planning and Budgeting Subsystem (LAS/PBS) and transferred to Florida PALM for budgeting and transactional use.
  • Agencies supply DFS additional information via the Fund questionnaire for new funds appropriated by the Executive Office of the Governor/Office of Policy and Budget (EOG/OPB). Fund value set up is not executed without a completed Fund questionnaire.






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