1010.01  Uniform records and accounts.--

(1)  The financial records and accounts of each school district, community college, university, and other institution or agency under the supervision of the State Board of Education shall be prepared and maintained as prescribed by law and rules of the State Board of Education.

(2)  Rules of the State Board of Education shall incorporate the requirements of law and the appropriate requirements of the Governmental Accounting Standards Board (GASB) for State and Local Government.

(3)  Required financial accounts and reports shall include provisions that are unique to each of the following: K-12 school districts, community colleges, and state universities, and shall provide for the data to be reported to the National Center of Educational Statistics and other governmental and professional educational data information services as appropriate.