GENERAL LEDGER CODES
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GENERAL |
TITLE
AND DEFINITION
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Undistributed Lump-Sum Deposits: This account may be used only by lump-sum
agencies. The account is credited when a lump-sum agency deposits cash with the
State Treasurer, and is debited when the lump-sum agency submits detailed
transaction data (primarily credits to revenue and asset accounts) to the
Comptroller General's Office. The balance in this account MUST be zero at the
end of each fiscal year.
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Due to Other Funds: Amounts owed to another fund in State
government by this fund which are due within one year. These liabilities may
arise either from goods or services rendered by other funds or from
short-term loans made by other funds to this fund or as a result of interfund
transfers.
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Collections Made for Other Governments: Amounts collected by the State on behalf
of other governments. This is a liability account recording amounts owed to
other governments.
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Trust Liabilities: This account may NOT be used by lump-sum
agencies. Other agencies use this account to record liabilities associated
with trust and agency funds (fund group 08 in STARS).
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Taxes Collected in Advance: This account currently may be used ONLY by
the Department of Revenue and Taxation to record the prepayment of Individual
Income Taxes.
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Other Revenues Collected in Advance: Revenues, other than taxes, collected
before revenue-recognition criteria have been met. The purpose of this
deferred revenue account is to record amounts for which asset-recognition
criteria have been met, but for which revenue-recognition criteria have not
yet been met. Under the modified accrual basis of accounting, such amounts
are measurable but not yet available. When revenue-recognition criteria are
met, this account should be debited and a revenue account should be credited.
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Advances from Other Funds: Amounts owed to another fund of State government
which are not due within one year. Amounts are generally posted to this
account only when a long-term loan has been made to another fund.
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APPROPRIATIONS: The legal authorization granted by the
State General Assembly to make expenditures and to incur obligations for
specific purposes. This account is a budgetary general ledger account. Only
the Comptroller General's Office is authorized to record, revise, or
otherwise post entries to this account.
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ENCUMBRANCES: This budgetary general ledger account
normally has a debit balance. It records commitments related to unperformed
(executory) contracts for goods or services. Use of this account is optional
in most cases at this time.
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RESERVE FOR ENCUMBRANCES: This budgetary fund balance account serves
to segregate that portion of the budgetary fund balance which will be
expended upon vendor performance. Use of encumbrance accounting is optional
in most cases at this time.
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APPROPRIATIONS TO BE CARRIED FORWARD: This budgetary account segregates from the
APPROPRIATIONS account those unexpended appropriation amounts allowed by law
to be carried forward to the next fiscal year.
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Employee Payroll Deductions: This liability account is used by the
Comptroller General's Office for amounts withheld from employee paychecks and
owed to various agencies who provide employee benefits. This account may be
used for the same purpose by lump-sum agencies.
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Dual Employment and Payroll Clearing: This liability account is used by the home
employing agency in a dual-employment situation to record amounts owed to the
employee for services rendered to the secondary employing agency and amounts
owed for the associated employer contributions.
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Beginning Fund Balance: The balance in this non-budgetary fund
balance account should equal the fund balance at the beginning of the fiscal
year. Transactions should not be posted directly to this account during the year.
Only at year-end are various nominal account balances closed to this account.
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Adjustments to Prior Year Fund Balance: Adjustments involving prior-year
income-statement accounts previously closed to account 271 should be recorded
in this account.
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274. |
General Fund Reserve: This account may be used only by the
Comptroller General's Office. This account represents a reserve of fund
balance required by State law.
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276. |
Budgetary Fund Balance: This budgetary account is the fund balance
account affected by budgetary transactions throughout the year. For example, this
account is debited when appropriations are recorded and is credited when
estimated revenues are recorded. This account is closed to account 271 at the
end of the fiscal year.
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278. |
Approp: GF--Cash Available: This account may be used only by the
Comptroller General's Office.
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Revenue General Fund - Composite: This account may be used only by the
Comptroller General's Office. |
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