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Uniform Chart of Accounts and Benchmarking Project

Uniform Chart of Accounts and Benchmarking Project

Public Act (PA) 11-57 directed and authorized the Office of Policy and Management (OPM) to develop a benchmarking system that includes financial and nonfinancial data from various sources. In addition, Section 257 of PA 13-247 (see pertaining statute Sec. 7-406c), authorized and directed OPM to design, develop and implement a uniform system of accounting for municipal revenues and expenditures. The uniform system of accounting was required to include a uniform chart of accounts (UCOA) to be used to report financial data at the municipal level. Municipalities are required to implement the UCOA by completing and filing annual reports with OPM as may be required by the Secretary of OPM in order to increase transparency and meet the State’s benchmarking goals.

A similar initiative, in accordance with PA 11-57 and Section 15 of PA 12-116 (see pertaining statute Sec. 10-10c), is underway with respect to education expenditures made by school districts. OPM and SDE have been coordinating efforts in this regard.

These public acts authorizing the development of a State and Local Benchmarking System and UCOA for reporting by municipalities and school districts, provided an important opportunity to create a tool available to and of benefit to local and state policy makers, taxpayers and those researching these matters. The UCOA was developed in consultation with the State Department of Education (SDE), the Connecticut Conference of Municipalities (CCM) and the Council of Small Towns (COST).

To assist with understanding and using the UCOA, separate UCOA Accounting Manuals (municipal, education), were also developed by OPM and SDE. It is important to emphasize that, although the UCOA will provide a structure for reporting expenditures and revenues, neither municipalities nor school districts are required to replace their current chart of accounts with the UCOA. Those municipalities in the process of or planning to create a new chart of accounts are, however, encouraged to consider use of the UCOA and associated accounting manual that was developed.

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Uniform Chart of Accounts back to top

Benchmarking Data back to top

  • Municipal Benchmarking Application to view the benchmarks of the FY 2014 and 2015 municipal information:
  • Municipal UCOA Spending and Other Raw Data from the Municipal Benchmarking Application:  (CT Open Data Portal)