There is hereby created the
department of executive services technology capital fund. The fund
shall receive and transfer to the cultural development authority a variety of
revenues including, but not limited to, general fund revenues, hotel-motel tax
revenues and public art revenues. An
updated capital appropriation proposal form shall be provided for each capital
project expenditure authority request included in a proposed capital budget
appropriation ordinance. As can be observed above, the various fund types not only differ in their practical use but also in terms of the basis of accounting applied to recognize revenue and expenditures. The governmental funds use a modified accrual basis which can be understood as a hybrid of cash and full accrual accounting.
All receipts from per ton transfer
fees transferred from the landfill reserve fund shall be deposited in the fund. All receipts from
rates charged for the fund’s services to county agencies shall be deposited in
the fund. The director of the
office of performance, strategy and budget shall be the manager of the fund.
Voters at an annual meeting must “vote a tax to create a fund for the purpose of financing all current and future capital expenditures related to buildings and sites.” The resolution must be sent to DPI for its files. The money may not be used for any other purpose unless authorized by a later annual meeting. Economic conditions and regulatory changes can affect the start or completion of capital projects, as in the case of Brexit, which caused the cancellation governmental accounting or delays of some projects in Britain. Capital projects are big investments and, therefore, face a lot of scrutiny, especially when paid for with public funds or the money of a publicly traded company. The goal is for these investments to pay off, but sometimes they are poorly planned and executed and end up losing significant capital. The Local Government Distributions Fund accounts for the receipt and allocation of taxes and fees imposed by local governments.
The proceeds of
the six-year property tax levy approved by the voters of King County on August
21, 2007, under Ordinance 15760, in excess of the levy limitation contained in
chapter 84.55 RCW. Of the proceeds designated for distribution to King County
cities and the zoo, a reasonable portion shall be retained by the county to be
used for expenditures related to administration of the distribution of levy
proceeds. In accordance with Ordinance 15760, Section 4, the levy proceeds
shall be deposited in a dedicated subfund of the parks and recreation fund, or
Except as otherwise provided for
in subsection F. It is
a capital projects fund. All receipts from
rates charged for full cost recovery for the fund’s services to county agencies
shall be deposited in the fund. The department of executive services shall
establish charges for full-cost recovery for the equipment accounted for by the
fund and shall establish the terms and charges for the sale of surplus
Except as otherwise provided in
subsection H. Of this section, the fund shall be a second tier fund. It is a
capital projects fund.
Financial Markets, Financial Institutions, and Fiscal Service
The amortized shared cost is determined by the number of years the district levies into the fund. A capital project is a large-scale project with a high cost that is capitalized or depreciated. General Capital Assets Subsidiary is to account for the state’s capital assets used in governmental operations. The Health Insurance Fund accounts for premiums collected and payments for public and school employees’ insurance benefits. The Other Activities Fund accounts for the operation of the pollution liability insurance program, the Judicial Information System, the local Certificate of Participation (COP) financing program, the local government audit program, and the Secretary of State’s corporate public records program. The Tobacco Settlement Securitization Bond Fund accounts for the accumulation of resources for, and the payment of, principal and interest on revenue bonds issued by the Tobacco Settlement Authority, a blended component unit of the state.
- The primary purpose of the
event is charitable fundraising based on reasonable documentation.
- In order to record the journal entries, for a Capital Fund Project, the accounting treatment is similar to that of a normal revenue and expense journal.
- Additionally, the constructor agreed on the price of $250,000.
- Receipts will be transferred into the capital fund on a
reimbursable or scheduled basis.
- There is hereby
created a solid waste operating fund.
- Of this section, the fund shall be a second tier fund.
- The executive shall
review the requests in accordance with the department’s or agency’s work plan
and determine whether to submit a supplemental appropriation request.
and institutional passes, in various single-trip value denominations and for
various effective periods, may be issued and sold in accordance with the terms
of an agreement approved by the council and entered into with other public
transportation providers in the region. Institutions include employers, groups
of employers, educational institutions, transportation management associations and
other organizations. The effective periods, single-trip values and prices for
the regional and institutional passes shall be established by the agreement. A
valid regional or institutional pass may be presented an unlimited number of
times during its effective period as full or partial payment of the applicable
fare. To the extent the single trip value of the regional pass is not
sufficient to cover the applicable fare, the rider shall pay the difference in
cash or from an electronic stored value product, such as e purse. Institutions include employers, groups
of employers, educational institutions, transportation management associations
and other organizations.
updated financial plan or plans shall accompany the fiscal note if the
expenditure impact of the proposal results in a positive or negative change of
five percent or more in the fund financial plan. When it comes to providing government-wide financial statements at year-end for the Annual Comprehensive Financial Report (ACFR), governments utilize the full accrual basis of accounting. As a result, the annual reporting process requires the preparation of conversion entries to convert the governmental funds from the modified accrual basis they employ to the full accrual accounting basis necessary to consolidate all funds into one government-wide financial statement. They planned to utilize this budget in the road construction project, by outsourcing this to a construction contractor via a tender.