Finance Domain - Overview

Owned by Gabrielle Garonzik
Dec 17, 2019

Finance RFC

Please note that there is an alternative proposed Finance Domain model, detailed in the Ed-Fi RFC 18 - Finance API.

The Ed-Fi Finance Work Group compiled feedback from the Ed-Fi Community to define use cases not supported by the current finance domain model. The proposed model allows for mapping data to report an LEA set of accounts to an SEA’s Chart of Accounts and includes the ability to guarantee the integrity of full account codes and to tag budgeted and actual amounts to specific required reporting submissions.

Key Entities

This domain contains:

  • An Account entity to represent funding sources and purposes.
  • An AccountCode entity to represent the set of account codes that may be used to define an account.
  • A Budget entity to represent financial allocations and an Actual entity to represent transactions.
  • A Payroll entity to model personnel compensation.
  • Staff and ContractedStaff entities to model personnel.

Key Concepts

The key concepts include the following:

  • Codes of various classifications (e.g., Object, Function, Fund) specific to the EducationOrganization entity for a fiscal year are represented by the AccountCode entity.
  • This domain is suitable for tracking federal fund allocations and expenses.
  • This domain is suitable for tracking staff and contracted staff actuals.
  • There are no entities or elements that model ledger information.