Government Accounting Manual Pdf

[Timothee Cazares]

TheAccounting Policy Manual includes high-level policies and procedures to ensure that financial activity is recorded accurately and consistently across organizations, so that government-wide financial statements will comply with authoritative Governmental Accounting Standards Board (GASB) and legislative standards. Basic guidance on accounting requirements, including journal entry examples, is included in these documents. Accounting manual topics apply to all State of Georgia accounting organizations regardless of their accounting systems.

Refer to the State Reporting Structure and Chart of Accounts page for value listings within the chart structure and guidance on using the various accounting fields. The structure page also includes account definitions at the State Chart of Accounts (SCOA) level. The SCOA applies to all organizations in the State reporting entity regardless of their accounting systems. State organizations that do not use the prescribed SCOA values must be able to provide a mapping cross-reference to their local charts for purposes of year-end statewide reporting.

The Budgeting, Accounting and Reporting System (BARS) Manual prescribes accounting and reporting for local governments in accordance with RCW 43.09.200. Its purpose is to provide (1) uniform accounting and financial reporting to allow for meaningful use and comparison of financial data; (2) accounting and reporting instructions as a resource for local government managers; and (3) a consistent framework for financial reporting to intended users, including managers, governing bodies, granting and regulatory agencies, the state Legislature, and the general public.

The manual is maintained by the State Auditor's Office with input from the Local Government Advisory Committee. It is continuously reviewed to ensure prescription and instructions remain current and appropriate to meet the needs of intended users. Accounting and reporting guidance incorporates analysis of generally accepted accounting principles (GAAP) published by the Governmental Accounting Standards Board as they become effective.

This page contains key policy guidance most notably the Code of Practice for the Governance of State Bodies 2016 and the Annex on Gender Balance, Diversity, and Inclusion. The aim is to ensure both central government departments and offices and also public bodies meet the highest standards of Corporate Governance. Read more.

As part of the modernisation of the Public Reporting and Accounting Framework, the Department of Public Expenditure, National Development Plan Delivery and Reform has been developing accounting standards for the Irish Accounting framework, based on International Public Sector Accounting Standards (IPSAS).

Nine Central Government Accounting Standards (CGAS), primarily affecting the Statement of Financial Position are being introduced with effect from 1 January 2024. Links to the CGAS and related implementation guidance, Central Government Accounting Manuals (CGAM) are set out below.

This page gives information on Central Government Accounting Standards (CGAS) to be introduced for accounting periods commencing on or after 1 January 2024 as part of the ongoing financial reporting reform programme and formalisation of accrual accounting. Read more.

The Indiana State Board of Accounts has outlined the regulation related to reporting of financial information for all local governmental units and quasi agencies3 of the State in this manual. Local governmental units for purposes of this manual include Counties, Cities, Towns, Townships, Libraries, Schools, Utilities, and Special Districts. The purpose of this regulation is to establish a consistent basis of accounting for the local governmental units identified and for quasi agencies of the State. The Indiana State Board of Accounts' authority for establishing this regulation is Indiana Code 5-11-1-2, 5-11-1-4, and 5-11-1-6.

The state board of accounts shall formulate or approve all statements and reports necessary for the internal administration of the office to which the statements and reports pertain. The state board of accounts shall approve all reports that are published or that are required to be filed in the office of state examiner. The state board of accounts shall from time to time make and enforce changes in the system and forms of accounting and reporting as necessary to conform to law."

"The state examiner shall require from every municipality and every state or local governmental unit, entity, or instrumentality financial reports covering the full period of each fiscal year. These reports shall be prepared, verified, and filed with the state examiner not later than sixty (60) days after the close of each fiscal year. The reports must be in the form and content prescribed by the state examiner and filed electronically in the manner prescribed by the state examiner and filed electronically in the manner prescribed under IC 5-14-3.8-7."

This manual sets out the requirements for reporting using a regulatory basis of accounting. A regulatory basis is defined as a basis of accounting that the reporting entity uses to comply with the requirements or financial reporting provisions of a governmental regulatory agency to whose jurisdiction the entity is subject. For purposes of this manual, the governmental regulatory agency is the State Board of Accounts and the reporting entity is the local unit of government or quasi agency of the State complying with this regulation.

Each reporting entity, other than schools (see school requirements below), shall be required to report financial information on a financial statement. All financial information of the entity shall be included on the financial statement even if the activity has not been included in the financial records of the entity. The financial statement shall be presented on a fund basis format. The financial statement shall be referred to as the Statement of Receipts, Disbursements, and Cash and Investment Balances - Regulatory Basis. This statement shall present each fund separately. However, if the reporting entity chooses to do so, similar types of funds, such as payroll clearing funds and tax distribution funds, can be combined and presented as one fund on the statement. Funds that are established by statute or local ordinance/resolution and funds that account for grant activity may not be combined and presented in one fund. The statement shall present the beginning balance, total receipts, total disbursements, and ending balance for each fund. The receipts presented should be categorized into the following areas: taxes, licenses and permits, intergovernmental, charges for services, fines and forfeits, utility fees, and other receipts. The disbursements presented should be categorized into the following areas: personal services, supplies, other services and charges, debt service - principal and interest, capital outlay, utility operating expenses, and other disbursements. An example of the required format for the financial statement is documented in Appendix A. All activity related to a certain fund should be accounted for in that fund. For example, property tax receipts designated for the General Fund should be included in the General Fund. All funds of the reporting entity shall be presented on the statement with no distinction of the type of fund. The statement will include the funds of the reporting entity only (including its departments). No funds from outside organizations associated with the entity shall be included.

Certain disclosures will require information to be reported separately between the general activities of the government and the enterprise activities. These include long-term debt, leases, and the schedule for capital assets. An enterprise activity is one for which a fee is charged to external users for goods or services. Examples of enterprises include utilities, public transportation, convention centers, parking garages, airports, and internet services. This distinction is only for certain notes or schedules and does not apply to the information presented on the financial statement.

Note for Counties: Funds that account for the receipts and disbursements of County offices that are eventually accounted for in the County's general ledger should not be reported on the financial statement. Additionally, funds used to account for the County Police Retirement Plan and County Police Benefit Plan should not be included in the financial statement.

Each reporting entity, other than schools (see school requirements below), shall be required to include notes to the financial statement to support the financial statement prepared. The first required disclosure will be for the Summary of Significant Accounting Policies. This note shall include the following:

The second required disclosure is related to budgets. This note should disclose the process followed by the reporting entity during the budget approval process. This note will not be included if the entity is not required to have an approved budget.

The third required disclosure is related to property taxes and should disclose the process and time- line for the assessment and collection of these taxes. This not will not be included if the entity does not receive property taxes.

The fifth required disclosure is related to risk management of the reporting entity. This note should disclose the risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; job related illnesses or injuries to employees; medical benefits to employees, retirees, and dependents; and natural disasters that the entity could be exposed to and the possible ways in which the entity can mitigate those risks.

The sixth required note disclosure is related to long-term debt of the reporting entity. This first part of this note should disclose all outstanding long-term (more than one year) debt at the beginning and end of the fiscal period. The note should also include any activity during the fiscal period, such as additional borrowings or retirements of debt. The second part of this note should disclose the debt service requirements to maturity. Debt service requirements should disclose the principal and interest payments for the five subsequent years, followed by five year increments until the debt matures. An example of the required format for the note disclosure can be found in Appendix B.

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