This handbook has been designed as the national standard for state and local education agencies to use in tracking and reporting financial data for school districts to use in preparing their comprehensive annual financial reports (CAFRs). The purpose of the handbook is to ensure that education fiscal data can be reported in a comprehensive manner. The 2009 Edition contains guidance conforming to Governmental Accounting Standards Board Statements, up to Statement 47. There are chapters on budgeting, governmental accounting and financial reporting. Account codes have been updated to reflect changes in the new reporting requirements and developments in technology and security. There are also special chapters on accounting student activity funds and a model for school level program cost accounting. Eight chapters comprise this guide: (1) Introduction; (2) Financial Reporting Within a System of Education Information; (3) Budgeting; (4) Government Accounting; (5) Financial Reporting; (6) Account Classification Descriptions; (7) Cost Accounting and Reporting for Educational Programs; and (8) Activity Fund Guidelines. Appendices include: (1) Summary of Account Code Changes Since 2003; (2) Other Resources; (3) Glossary of Acronyms; (4) Illustrative Financial Statements for an Independent School District; and (5) Criteria for Distinguishing Equipment from Supply Items. (Contains 27 exhibits.)