The State Auditor established The Uniform Chart of Accounts Task Force in 1981. Prior to 1981, non-mandatory uniform standards of financial accounting and reporting for Minnesota municipalities were used. They were first developed in 1958, with a revision published in 1973. The task force consisted of the financial directors of 14 cities, and was directed by Edmund L. Fuller, Governmental Information Division director. The task force's goal was to write a Uniform Chart of Accounts under which all cities and counties would report financial information in the same way, in the same funds, with the same code numbers. Definitions of funds and accounts would be agreed to under the Uniform Chart of Accounts.
In 1983, the Minnesota Legislature made compliance with uniform financial reporting mandatory [Laws 1983, c342]. Cities and counties, in order to receive state monies, would have to follow the Uniform Chart of Accounts and provide a comprehensive annual financial report prepared with general accepted accounting principles (GAAP). Reports due June 30, 1985, and later would have to be in compliance.
From the description of Uniform Chart of Accounts Task Force files, 1973, 1981-1984. (Unknown). WorldCat record id: 86125585
