Chapter 6: Account Classification Descriptions – Balance Sheets/Statement Of Net Assets

All funds on deposit with a bank or investment company or savings and loan organization, normally in non-interest bearing accounts. Interest-bearing accounts, however, that do not meet the definition of an investment (e.g., demand debris that are interest-bearing) should be recorded herein as well. 102Cash on Hand. Currency, coins, assessments, postal, and express money purchases, and bankers’ drafts readily available. 103Petty Cash. A sum of money set aside to pay small commitments that the issuance of a formal voucher and check would be too expensive and frustrating.

104Change Cash. An amount of cash reserve to provide change. 105Cash With Fiscal Agents. Deposits with fiscal realtors, such as commercial banks, for paying matured interest and bonds. 111Investments. Securities and real estate kept for producing income by means of interest, dividends, accommodations, or lease obligations. Investments should be provided at a reasonable value by the reporting date. 112Unamortized Premiums on Investments.

The excess of the amount covered securities over the face value that have not yet been amortized. Usage of this account is restricted to short-term money market investments. 113Unamortized Discounts on Investments (Credit). The excess of the face value of securities over the total amount covered them that have not yet been written off.

Use of the account is restricted to short-term investments. 114Interest Receivable on Investments. The quantity of interest receivable on investments, excluding interest purchased. Interest purchased should be shown in a separate account. 115Accrued Interest on Investments Purchased. Interest accrued on investments between your last interest payment day and the day of purchase.

The account is transported as a secured asset before the first interest payment date after the time of purchase. 121Taxes Receivable. The uncollected portion of taxes that an educational college region or government device has levied and that has become credited, including any interest or fines which may be accrued. Separate accounts may be maintained based on the tax roll year, delinquent, and current taxes, or both. 122Allowance for Uncollectible Taxes (Credit). The portion of taxes receivable estimated not to be gathered. The account is shown on the total amount sheet as a deduction from the taxes receivable account to arrive at the web taxes receivable.

  • Qualitative considerations
  • Level 4 or above of the national Qualifications and Credit Framework
  • Inflation on WPI was high but showed clear slow down by the year-end
  • Risk account of investment
  • Supply – Direct relation btwn real interest and volume loans demanded

Separate accounts may be preserved based on the tax roll year, delinquent taxes, or both. 131Interfund Loans Receivable. Asset accounts used to record financing by one finance to another fund in the same governmental unit. It is recommended that distinct accounts are managed for each interfund receivable loan.

132Interfund Accounts Receivable. An asset account used to point quantities owed to a specific finance by another account in the same school region for goods sold or services rendered. It is recommended that split accounts are managed for each interfund receivable. 141Intergovernmental Accounts Receivable. Amounts due to the governmental reporting device from another governmental unit.