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Previously there was a dimension called the subaccount dimension that is no longer assigned in the updated UFA chart of accounts. May the district retain this dimension?

Yes. The district may use that dimension as a locally-assigned dimension to assign codes for any local purposes. It would no longer need to be limited to balance sheet chart of accounts. The district could use that dimension also with revenues or expenditures if that was useful for local purposes. The district could also choose to delete the dimension if it had no use for it.