2007-08 Adopted Plan - Wake County Public School System

Budget by Object Code - Operating BudgetChanges enacted to the Chart of AccountsThe North Carolina Association of School Business Offi cers (NCASBO) and the North Carolina Department of Public Instruction (NCDPI) approveda chart of accounts conversion that was effective July 1, 2007. There is not a one-to-one correlation with these chart changes. In many cases, thereis an explosion of the chart from one old account to many new accounts. Due to this, we have lost comparability of historical data. A comparisonbetween accounts from 2006-07 and 2007-08 can only be made between the seven major object categories as shown in the chart below.Object means the service or commodity obtained as a result of a specifi c expenditure. Budget by Object Code fi gures on pages 109 to 115 areshown using new chart of accounts for 2007-08. Seven major object categories are used in our Chart of Accounts: (1) Salaries, (2) Employee Benefits, (3) Purchased Services, (4) Supplies and Materials, (5) Capital Outlay, (6) Other Objects, and (7) Transfers. Budget by Object Code historicaldata using the old chart of accounts, can be found on pages 366 to 370 in the Information section of this book.2006-07 2007-08Increase/DecreasePercentChangeSalaries $ 691,468,735 $ 762,021,821 $ 70,553,086 10%Employer Provided Benefi ts 163,265,964 184,254,461 20,988,497 13%Purchased Services 116,437,351 124,804,372 8,367,021 7%Supplies and Materials 79,751,707 69,510,870 (10,240,837) (13%)Capital Outlay 15,096,809 6,227,646 (8,869,163) (59%)Transfers 10,095,545 10,025,007 (70,538) 0%GRAND TOTAL $ 1,076,116,111 $ 1,156,844,177 $ 80,728,066 (8%)109 FY 2007-08 Plan for Student Success