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HomeMy WebLinkAboutFire Districts NYS OSC Reporting Manual Office of • rk State Comptro Division of Local Government and Sbi hool,'Accountabilit ,.F'., 7,11 }� AccouInting and or itg Ma' n,'ual i lli,�\alt, Thoriii S P. DiNapoli State- Comptroller „ s For additional copies of this report contact: Comptroller's Press Office 110 State Street, 15th floor Albany, New York 12236 (518)474-4015 or email us localgov@osc.state.ny.us www.osc.statemy.us To be removed from our mailing list: If you would like to have your name removed from our mailing list or if your present address has changed, contact the Comptroller's Press Office at(518)474-4015 or Office of the State Comptroller, 110 State Street, 15th Floor,Albany, NY 12236. March 2015 ti Table of Contents Chapter1— Introduction.................................................................................................................... 1 Chapter2—Funds.............................................................................................................................2 Chapter 3—Classification and Coding Structure..............................................................................6 Chapter4—Budgeting..................................................................................................................... 10 Chapter5—Financial Reporting...................................................................................................... 19 Chapter 6—Single-Entry Cash• Fire Districts .................................................................................21 Chapter 7—Double-Entry Modified Accrual: Fire Districts..............................................................30 Chapter 8—Sample Journal Entries................................................................................................44 Chapter 9—Account Code Definitions............................................................................................56 CentralOffice Directory ...............................................................................................................77 RegionalOffice Directory.............................................................................................................78 1 Chapter 1 Fire Districts in New York State Fire districts are district corporations and political subdivisions of the State, distinct from the municipalities in which they are located. In general, fire districts are governed by an elected board of fire commissioners and are required to have a treasurer and secretary. The districts have the power to require the levy of taxes on real property and to borrow in their own names. Fire districts should not be confused with fire companies, fire departments or fire protection districts. The fire company or companies within the district are usually volunteer fire companies incorporated under the provisions of the Not-for-Profit Corporation Lav and constitute the fire department of the fire district which is headed by a chief. The fire district commissioners are authorized to adopt rules and regulations governing all fire companies and departments. Fire protection districts, on the other hand, comprise a geographical area of a town which is provided fire protection pursuant to a contract. This Manual The responsibility for oversight of fire districts by the State Comptroller is contained in the State Constitution,Article 3 of the General Municipal Law and the Town Law.Among other things, the State Comptroller's responsibilities include:performing audits,prescribing information to be included in annual financial reports and prescribing a uniform system of accounts for fire district accounting and reporting The Office of the State Comptroller (OSC) has compiled this manual as a comprehensive accounting and reporting guide for fire district officials and others interested in accounting and financial reporting by fire districts in New York State.The manual provides an overview of accounting and financial reporting principles to be used by fire districts to account for and report their financial activities. Fire districts with $500,000 or more of revenues (excluding borrowings) are required to maintain their accounting records and report their financial activities on a double-entry modified accrual basis of accounting,and account for current assets, current liabilities and fund balances of the district. Revenues will be recognized in the accounting period in which they are available and measurable, and expenditures will generally be recognized in the accounting period in which the liability is actually incurred (See Chapter 6).Fire districts with less than $500,000 of revenues (excluding borrowings) may continue to maintain their accounting records and report their financial activities to OSC on a single- entry cash basis of accounting but will be required to report cash and fund balances for each of the districts' operating funds (See Chapter 5). For additional information regarding fire districts,visit the State Comptroller's website at www.osc.state.ny.us/localgov/firedist/index.htm Introduction f f Chapter 2 Funds The Uniform System of Accounts for Fire Districts is prescribed for all fire districts in New York State. The System of Accounts provides for a standard chart of accounts and fund structure.This accounting system is intended to serve many purposes.Primarily,it should furnish fire district officials with an effective aid in financial management. It should also serve the taxpayers by providing a structure for comprehensive records of fire district operations and it should provide information for program planning and statistical analysis Fire District Funds In government,moneys generated for specific purposes generally must be segregated in the accounting records and used only for those specific purposes.To help demonstrate that such moneys are used for the intended purposes, fire districts and all other local governments are required to use the fund accounting concepts specified in Generally Accepted Accounting Principles. A fund is a fiscal and accounting entity with a self-balancing set of accounts recording cash and other financial resources, together with all related liabilities and fund balances, and charges therein,which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations,restrictions or limitations The funds available for use by fire districts are Code Fund's A _General _ H Capital Projects R Reserve(cash basis only) _ V i Debt Service- — ----- --- -------- ------- ----- TA Agency -- - ---------------- -- -- --------- - -- ---------- ------ ----------- --- ---- ---- -------- ----- TE Private-Purpose Trust Fire districts should establish and maintain only the minimum number of funds consistent with legal and operating requirements. General Fund (A) The General Fund is the major operating fund of a fire district and includes all revenues and expenditures not accounted for and reported in another fund Revenues are classified by source Expenditures are classified to separately show the amounts expended for personal services, capital outlay, contractual, debt service and other expenditures,and other special items for which a separate classification is desired Accounfing and Reporting Manual for Fire Districts s Capital Projects Fund (H) The Capital Projects Fund is used to account for and report financial resources that are restricted, or assigned to expenditures for capital outlays,including the acquisition or construction of capital facilities and other capital assets Separate accounting records must be maintained for each capital project and should contain sufficient information to track and report the project's complete financial history (i.e. resources received and expended). The use of separate accounting records helps to ensure that debt proceeds related to capital expenditures are used for their intended purpose. Section 165.00 of the Local Finance Law requires that proceeds of these types of obligations be deposited in a separate bank account, and expended only for the object or purpose for which issued. This fund must also be used to account for construction projects financed,in whole or in part,from General Fund or Reserve Fund moneys. Principal and interest payments on capital borrowings are paid from appropriations from the General Fund and not from the Capital Projects Fund, except when bond anticipation notes are redeemed from the proceeds of bonds. Interest on bond anticipation notes may be charged to the capital project if the board of commissioners authorizes it by resolution. Reserve Funds (R, A) In general,reserves are designed to segregate resources to provide for future contingencies and plan for major capital outlays, thereby reducing the need to rely on borrowing or outlays of current funds to finance such events. The following reserve funds are established to accordance with General Municipal Law provisions: Repair Reserve (Section 6-d), Contingency and Tax Stabilization Reserve (Section 6-e); Capital Reserve (Section 6-g),Reserve for Payment on Bonded Indebtedness (Section 6-h),Mandatory Reserve (Section 6-1),Insurance Reserve (Section 6-n),Workers' Compensation Reserve (Section 6-1),Unemployment Insurance Reserve (Section 6-m),Employee Benefit Accrued Liability Reserve (Section 6-p) and Retirement Contribution Reserve (Section 64). For detailed information regarding these reserves,refer to our Local Government Management Guide entitled Reserve Fundis. When using the single-entry cash basis of accounting, a separate fund account must be maintained for each reserve (R). For the double-entry modified accrual basis of accounting,legally established reserves are accounted for in the General Fund (A). Expenditures may be made only for the purpose for which the reserve was established. The limitation on expenditures to Section 176(18) of the Town Law does not apply to transfers to, or expenditures from most but not all, of these reserves. Funds 1 The principal sources of revenue for these funds are budgetary appropriations. For districts using the cash-basis of accounting to comply with the law, the amount appropriated should be transferred from the General Fund to the Reserve Fund. Any interest or earnings on deposits and investments of reserve moneys is credited to the reserve fund. Debt Service Fund (V) The Debt Service Fund is provided to account for and report financial resources that are restricted or assigned to expenditures for the payment of principal and interest on long-term debt. Financial resources that are being accumulated for principal and interest maturing in future years also should be reported in this fund.Debt Service Funds are not required unless segregation of resources is legally mandated. Resources legally required to be segregated include: • Proceeds from sales of property on which debt is outstanding. • State and Federal aid received for a project on which debt is outstanding. • Interest earned on investment of proceeds of long-term debt which were not budgeted as a source of financing for the project. • Unexpended proceeds of long-term debt. Taxes levied for debt service may be credited directly to this fund or transferred from other funds. Proceeds from the sale of advance refunding bonds and the subsequent payment to the trustee bank must be recorded in this fund. A single Debt Service Fund must be maintained,however, subsidiary records must be maintained for individual debt issuances. OW- Accounting and Reporting Manual for Fire Districts a ' Permanent Fund (PN) A Permanent Fund is used to account for resources that are legally restricted to the extent that only earnings,not principal,may be used for purposes that benefit the local government Fiduciary Funds (TA, TE) Fiduciary Funds are provided to account for moneys received by the fire district treasurer which must be held for purposes other than operation of the fire district or which must be paid to other governments or persons. There are two Fiduciary Funds.The prefix "TA"is used to identify Agency Funds and the prefix "TE" is used to identify Private-Purpose Trust Funds. Agency Funds (TA) account for assets held by the fire district as an agent for individuals,private organizations or other governments and/or other funds Agency funds are custodial in nature, and do not involve measuring the results of operations.There is no operating statement, only a balance sheet. Private-Purpose Trust Funds (TE) account for all other trust arrangements under which principal and income benefit individuals,private organizations or other governments.Transactions of TE funds are accounted for on an accrual basis. Capital Assets and Long-Term Liabilities (K, W) Non-Current Governmental Assets (K) —Accounts established to account for capital assets. Non-Current Governmental Liabilities (W)—Accounts established to account for the unmatured general long-term debt and liabilities which are not recorded as liabilities in another fund __ Funds S Chapter 3 Classification and Coding Structure Fire districts in New York State are required to use a standard system for classifying and coding accounting transactions Classification: A classification of accounts is a systematic arrangement of accounts based upon a definite scheme.The purpose of classifying accounts is to provide a standard format for recording and reporting financial transactions which allows comparisons to be made with other fire districts or other financial periods. The classification system serves as a basis for budgeting,accounting and reporting, as well as for administrative control purposes, accountability to the Office of the State Comptroller and the general public, cost accounting, and the compilation of financial statistical data on the state level. Coding: Coding of accounts facilitates the classification of data on source documents and the posting of entries in the accounting records. It enables identification of transactions quickly and provides consistency in reporting.The coding system used in New York State is an alphanumeric system- a letter or combination of letters followed by a series of digits. The alpha portion of each code, consisting of one or two letters,identifies the fund.The following funds are provided for fire districts in New York State: Fund Alpha Code General A ----- -------- --- -------- -------------- ----- Capital Projects _H Reserve-cash basis only R --Debt Service --- - V ---- ---- -- - ----- ----------- ------ __-- ---- - -- —--- --- --- --- -- ----- --- Permanent PN ------- - - ----- -- ---- ----------- ----- Agency -TA --- - - -- --- -- -- - - --- - --- - - -- -- -- - -- - ----- --- -- --- - ---- --- - Private-Purpose Trust TE The numeric portion of each code,which immediately follows the alpha portion,identifies general ledger,revenue and expenditure/expense accounts The same account code number,where applicable,is used in all funds. Accounting and Reporting Manual'for Fire-Districts General ledger codes have three digits and are arranged in balance sheet order: assets, deferred outflows of resources,liabilities, deferred inflows of resources and fund equity 100-499 ___ Assets and-Deferred Deferred Outflows---of-----Resources - --- ----- -- ---- - --- - ------- ----------- --- - ----- -----------600-699 Liabilities and Deferred Inflows of Resources 800-999 Fund Equity For example, 200 identifies the asset CASH in each fund.A200 identifies the asset CASH in the GENERAL FUND. Revenue codes have four digits and are arranged by source (where the revenue originated). 1000—2999 Local Sources 3000—3999 State Sources 4000—4999 Federal Sources 5000—5999 Interfund Transfers and Proceeds of Obligations Each category is further subdivided to better identify the revenue source. For example,2401 identifies INTEREST AND EARNINGS in each fund. GENERAL FUND INTEREST AND EARNINGS would be classified A2401 Expenditure codes have a minimum of 5 digits and are arranged by functional unit and object of expenditure.The term function refers to the primary classification and description of the purpose of the expenditure The first four digits identify the function: 1000__1999 General Support 3000—3999 Fire Protection 9000—9099 Employee Benefits 9700—9799 Debt Service _ 9900—9999 Interfund Transfer Each function is further subdivided to better classify the expenditure. For example, expenditure code 3410 in the Fire Protection function identifies expenditures incurred for firefighting and fire Protection activities. Expenditures should be further classified by character, that is, on the basis of the fiscal period they are presumed to benefit.The major character classifications are current, capital outlay and debt service Character classifications may be accomplished by grouping the object classifications, discussed below, which are subdivisions of the character classification. Classification and Coding Structure The object of the expenditure (the fifth digit in the code) is a secondary classification and identifies the item purchased or service obtained in order to carry out a function. The object is identified by the fifth digit: .1 Personal Services -- - 2 Equipment and Capital Outlay --- - - - -- -- ---------------- ----- ------ ----- ------ ---- - -------- ---- ------ ---- - .4 Contractual and Other .6 Debt Service Princ-ipal -- - ---- --- ---------- --- -- ------------- --- -- --- -----—------------- -- --- --------------- .7 Debt Service Interest .8 Employee Benefits .9 _Interfund Transfer .0 Total for Reporting Purposes Code 3410 from above can then be further classified as A3410.4 indicating a GENERAL FUND expenditure for CONTRACTUAL SERVICES for fire protection. Accounting and Reporting Manual for Fire Districts L Basic Objects of Expenditure The types of expenditures chargeable to basic objects of expenditure are indicated below.This list cannot possibly specify every type of expenditure which might be incurred, and should be considered a guide in classifying items not listed. If more detailed accounting information is desired, the fire districts may use this list as a guide to subdividing the basic objects of expenditure. .1 Personal Services •Treasurer • Firefighter • Temporary • Secretary •Janitor • Overtime •Treasurer-Secretary •Vacation • Sick Leave .2 Equipment and Capital Outlay • Furniture and Furnishings •Power Lawn Mowers • Fire Apparatus • Office Equipment •Two-Way Radios Pumper Truck •Addition to Fire Station Hook and Ladder Fire Hose .4 Contractual Expenditures • Office Supplies -Postage • Consultants • Fire Alarm System •Travel Expense •Independent Accountant • Telephone Conventions • Insurance Maintenance Fire Travel Premium on Treasurer's Bond Other Other Travel Public Liability • Maintenance of Wells •Association Dues Property Damage • Buildings and Grounds • Uniforms Other Insurance Fuel,Light,Water • Drills,Parades, Inspections •Legal and Auditing Fees Repairs Election Expense • Fire Apparatus and Equipment Rent Rent of Voting Machines Repairs Maintenance Supplies Publication of Notice Gasoline, Oil,Etc. Printing and Supplies .8 Employee Benefits • State Retirement System • Hospital and Medical Insurance • Social Security • Fire Retirement •Life Insurance • Disability Insurance • Local Pension Fund •Workers' Compensation Control account codes are used to record the aggregate of debit and credit postings to a number of related accounts called subsidiary accounts. Control account codes have three digits. Code 522 Eapenditrares is used to record claims,vouchers and payrolls paid or accrued,including those of special reserves Code 980 Reoearrej is used to record revenues,including those of special reserves. Classification and Coding Structure _ Chapter 4 Budgeting The board of fire commissioners is required annually to adopt a fire district budget setting detailed estimates of the amount of revenues to be received and expenditures to be made during the fiscal year for which the budget is proposed [Town Law, X181(1)]. However, care must be taken to stay within the district's statutory spending limitation. Pursuant to Section 176(18) of the Town Law, fire districts should annually calculate the district's statutory spending limitation to ensure that the district does not exceed the maximum amount which may be expended by the district without voter approval.To assist you in preparing the district's annual budget and calculating the district's statutory spending limitation, sample forms and worksheets are included on the following pages. In 2011,legislation established a tax levy limit (tax cap) that affects all "local governments",including fire districts.Under this legislation, the real property taxes levied by fire districts (and other classes of local governments) generally cannot increase by more than 2 percent of the prior year levy, or the rate of inflation,whichever is less. However, the law allows local governments to levy an additional amount for excludable expenditures. Fire districts can override the tax cap by passing a resolution;with a vote of 60% of the total voting power of the board. BUDGET PREPARATION The board of fire commissioners must adopt a proposed budget and, subject to certain public hearing requirements,hold a public hearing on the proposed budget on the third Tuesday in October.The proposed budget must be adopted by resolution of the board of fire commissioners on or before the 21st day prior to the public hearing.At least five days prior to the date of the hearing,notice of the hearing must be published at least once in the fire district's official newspaper or to a newspaper having general circulation within the district'. Similarly,at least five days prior to the date of the hearing,a copy of the notice must be posted on t he signboard maintained bytlie town clerk of each of the towns ^in which the fire district is located.The notice must also be posted on the municipal and/or fire district websites,if such websites exist. The notice must state the time and place where the hearing will be held, the purpose of the hearing, and that a copy of the proposed budget is available for inspection during office hours in the offices of the fire district secretary and the town clerk in each town in which the district is located. For a fire district that maintains a website, the notice of hearing must also state that the proposed budget is posted there as well. After the public hearing, the board of fire commissioners can adopt changes, alterations,and revisions to the proposed budget.The budget must be adopted by November 4th and filed, along with the district's fiend balance statement to the town clerk of each town in which the fire district is located by November 7th. Neither the town budget officer nor the town board may make changes to the fire district budget The town budget officer is required to attach the adopted budget, to the annual town budget. The fire district budget, as attached to the annual town budget,will be sent to the county for the levy of taxes for fire district purposes.Joint fire districts must also file a certified copy with the clerk of each village in which the district is located. Once the budget is adopted,it becomes a public document that the district secretary must make available to the public.The district secretary is required to reproduce a sufficient number of copies for distribution to the public upon request,without charge. ' If the fire district has not designated an official newspaper EMFAccounting and Reporting Manual for Fire Districts ACCOUNTING FOR THE BUDGET Budgetary accounting is a management control technique used to assist in controlling expenditures and tracking revenues.This technique is important, as the annual budget is a legal compliance standard against which the operations of government are evaluated The following are the budgetary accounts prescribed by OSC: 510 Estimated Revenues 511 Appropriated Reserves 521 Encumbrances 530 Obligations Authorized 599 Appropriated Fund Balance 960 Appropriations J 962 Budgetary Provisions for Other Purposes Separate accounts must be maintained for each appropriation, showing the amount appropriated, the amounts expended, and the unexpended balance. Expenditures can only be made,and contracts involving money can only be entered into,if an amount has been appropriated for the particular purpose and is either available for that purpose or has been authorized to be borrowed. MODIFYING THE BUDGET Fire district treasurers must notify the board of fire commissioners when it is probable that available money will not be sufficient to cover the amounts appropriated.The board may reduce appropriations in order to prevent a deficiency,but an appropriation cannot be reduced below the minimum amount required by law to be appropriated, and it cannot be reduced below outstanding and unpaid claims that are chargeable to the appropriation. Subject to limitations in Town Law Section 181-a(4), the board of fire commissioners can make additional appropriations or increase existing appropriations through the following methods'-: • Transferring from the unexpended balance of other appropriations, • Transferring from unassigned or assigned fund balance,as appropriate, • Appropriating funds from unanticipated revenues, • Borrowing pursuant to local finance law. The rules described above do not apply to gifts that are required to be expended for particular purposes,and to property insurance proceeds that are used to repair or replace the property.These items can be appropriated by the board at any time for these purposes 'The board cannot add or increase an appropriation to a capital reserve fund Budgeting FIRE DISTRICT 20_BUDGET SUMMARY Total Appropriations (from page 13) $ Less: Estimated Revenues (from page 14) $ Estimated Assigned Appropriated Fund Balance Amount to be Raised by Real Property Taxes $ TAX APPORTIONMENT (to be used when fire district is in more than one town) Assessed Full Total Full Valuation Apportioned Tax= Valuation Equibzation Valuation Percentage (3)x Real Property Town (A�� Rate(ER) (AV—ER) (1)—(2) Tax to be Raised (1) %(3) $ (1) %(3) (1) %(3) Total (2) 100% *l\,lust agree with Budget Summary"Amount to be Raised by Real Property Taxes". Town —Apportioned Tax Total Apportioned $ I certify that the estimates were approved by the fire commissioners on (Date) Fire District Secretary NOTE- File two certified copies of the adopted budget with the Town Budget Officer by November 7. Accounting and Reporting Manual for Fire Districts APPROPRIATIONS Actual Budget as Preliminary Adopted Expenditures Modified Estimate Budget 20_ 20_ 20_ 20_ Salary - Treasurer $ $ $ $ Salary - Other Other Personal Services A3410.1 Total Personal Services $ $ $ $ A3410.2 Equipment A3410.4 Contractual Expenditures A1930.4 Judgments and Claims A9010.8 State Retirement System A9025.8 Local Pension Fund A9030.8 Social Security A9040.8 Workers' Compensation A9050.8 Unemployment Insurance A9060.8 Hospital,Medical and Accident Insurance A9085 8 Supp. Benefit Payments to Disabled Firefighters A9710.6 Redemption of Bonds A97_.6 Redemption of Notes A9710.7 Interest on Bonds A97-7 Interest on Notes A9901.9 Transfer to Other Funds Totals $ * Transfer to Budget Summary,page 12 Budgeting J ESTIMATED REVENUES Actual Budget as Preliminary Adopted Revenues Modified Estimate Budget 20_ 20_ 20_ 20_ A2262 Fire Protection and Other Services to Other Districts and Governments $ $ $ $ A2401 Interest and Earnings A2410 Rentals A2660 Sales of Assets A2701 Refunds of Expenditures A2705 Gifts and Donations Miscellaneous (specify) A2770 A2770 A3389 State Aid, Other Pubhc Safety (specify) A4389 Federal Aid, Other Public Safety (specify) A5031 Interfund Transfers Totals $ $ $ $ * Transfer to Budget Summary,page 12 Accounting and Reporting Manual for Fire Districts FIRE DISTRICTS WORKSHEET A COMPUTATION OF STATUTORY SPENDING LIMITATION Divide the assessed valuation of the real property subject to taxation by the fire district as shown on each assessment roll for the district completed in the second calendar year prior to that in which the expenditures are to be made, by the town equalization rate established for each roll by the State Office of Real Property Services. (Example:For budget prepared in year 2 (current year) and taxes to be raised and expended in year 3 (next year),use assessment roll completed in year 1 (last year) divided by the town equalization rate established for this assessment roll.Note:A different equalization rate is established for each year's assessment roll) Town Assessed Valuations(AV) Equalization Rates(ER) Full Valuations(AWER). $ % Total Full Valuations $ Less First Million of Full Valuation 1,000,000 Excess Over First Million of Full Valuation $ Multiply Excess by One Mill X.001 Expenditures Permitted on Full Valuation Above$1,000,000 $ Add Expenditures Permitted on Full Valuation Below First$1,000,000 2,000 Statutory Spending Limitation for 20 (year 2) $ Add Exclusions from Statutory Spending Limitation (Town Law, Section 176(18)(from Worksheet B) Add Spending Authorized by Voters in Excess of Statutory Spending Limitation (Town Law, Section 179) (Proposition Adopted on ) Sum of Statutory Spending Limitation, Exclusions and Excess Spending $ Authorized by Voters Less Budget Appropriations Statutory Spending Limitation Margin $ Budgeting FIRE DISTRICTS WORKSHEET B EXCLUSIONS FROM STATUTORY SPENDING LIMITATION Payments under contracts made pursuant to subdivisions 12 and 22 of Section 176 of the Town Law $ Subdivision 12-A contract for a supply of water and for furnishing, erecting, 1 maintaining, caring for and replacing fire hydrants. Subdivision 22-A contract for furnishing fire protection within the fire district, including emergency services and general ambulance services. 2 Payments under a lease to provide a supply of water for fire fighting purposes made pursuant to Subdivision 12-a of Section 176 of the Town Law. 3 Principal and interest on bonds, bond anticipation notes, capital notes and certain budget notes, and interest on certain tax anticipation notes. 4 Compensation of paid fire district officers,fire department officers,firefighters and other paid personnel of the fire department, including fringe benefits. 5 District's contribution to the New York State and Local Employees' Retirement System and the New York State and Local Police and Fire Retirement System. 6 Payments made when participating in a county self-insurance plan under the Workers' Compensation Law. Insurance premiums and any payments required as a self-insurer, pursuant to 7 Volunteer Firefighters'Benefit Law and Workers'Compensation Law, less the amount of certain recoveries of benefits and compensation. 8 Payment required annually to fund service awards to volunteer firefighters made pursuant to Article 11-A of the General Municipal Law. g Cost of blanket accident insurance to insure volunteer firefighters against injury or death resulting from bodily injuries suffered in the performance of their duties. 10 Certain payments for the care and treatment of paid firefighters for disabilities incurred in performance of duty. 11 District's contributions for Social Security. Subtotal to carry forward(to next page) $ Accounting and Reporting Manual for Fire Districts " FIRE DISTRICTS WORKSHEET B EXCLUSIONS FROM STATUTORY SPENDING LIMITATION Subtotal carried forward (from previous page) $ 12 Payment of principal and interest on tax anticipation notes for new fire districts. 13 Payment of compromised claims and judgments under Subdivisions 28 and 30 of §176 of the Town Law. 14 Cost of insurance secured to indemnify the fire district against liability arising out of ownership, use or operation of a motor vehicle owned by the fire district 15 Payment of monetary awards to individuals pursuant to Subdivision 31 of§176 of the Town Law. 16 Cost of fuel for the fire district's emergency vehicles, including fuel tax carryovers. 17 Cost of annual independent audits required by Section 181-b(formerly Section 181-a)of the Town Law for fire districts with revenues of$300,000 or more. 18 Appropriations to, or expenditures from, most reserve funds established pursuant to the General Municipal Law 19 District's contribution to the State's unemployment insurance fund for paid officers and employees 20 Amounts received from fire protection, emergency reserve and general ambulance contracts 21 Use of gift proceeds. 22 Use of insurance proceeds received for the loss,theft, damage or destruction of real or personal property-when applied to repair or replace such property. Use of premiums from the sale of district obligations,the unexpended portion 23 of the proceeds of fire district obligations, and the income(interest)and capital gains realized on the temporary investment of the proceeds of district obligations. Total Exclusions from Statutory Spending Limitation (to Worksheet A) $ Budgeting J FIRE DISTRICTS WORKSHEET C OTHER EXCLUSIONS FROM STATUTORY SPENDING LIMITATION BORROWING AND RESERVE FUNDS �) Use of the proceeds of bonds, bond anticipation notes, capital notes or certain $ budget notes 2) Expenditures from most reserve funds established pursuant to the General $ Municipal Law Use of premiums from the sale of obligations,the unexpended portion of the 3) proceeds of fire district obligations, and the income and capital gains from the $ investment of the proceeds of obligations. NOTE:The items shown above also represent exclusions from the statutory spending limitation. However, the amounts associated with these items may not be available at budget preparation time.Therefore, this worksheet should be used during the fiscal year and at year's end to help determine if your district has stayed within legal requirements. EMAccounting and Reporting Manual for Fire Districts Chapter 5 Financial Reporting Governmental accounting is concerned with the collection and analysis of a government's finances.This information has very little value if it cannot be communicated in a timely and effective manner.Financial reporting serves as the link between a fire district's financial information and the district's users they are designed to serve. Some of these users include the board of fire commissioners and oversight bodies, investors, creditors, taxpayers and OSC. Internal Reporting Internal reporting typically is designed to accomplish two goals: • To allow management to monitor compliance with legal and contractual provisions applicable to the management of public funds. • To provide management with information on current performance that it needs to make future financial plans. Because internal reports are designed expressly to serve the needs of management,management is free to select whatever format or content it believes most relevant. It is highly unusual for internal reports to be prepared in accordance with GAAP. Annual Financial Report-AUD All fire districts in New York State are required to prepare and file an annual financial report, commonly referred to as the Annual Update Document (AUD),with the State Comptroller within 60 days after the close of each fiscal year. The AUD includes fund financial statements,notes to the financial statements and other supplemental schedules that inquire about financial-related issues of the district. The State Comptroller provides instructions for filing the report to all chief fiscal officers prior to the completion of the district's fiscal year. Audited Financial Statements Fire districts with annual revenues of$300,000 or more must obtain an independent audit annually. The audit must include,but is not limited to, the district's financial condition and resources, and such other things as the State Comptroller designates.A copy of the audit report must be given to the fire commissioners, the town board(s) of municipalities served by the fire district and OSC within 180 days of the end of the fiscal year audited. Financial Reporting Fire companies that contract with municipalities or fire districts to provide fire services and have revenues of more than $300,000, must also obtain an annual audit of revenues and expenditures in connection with such contract or contracts. The audit must indicate whether the fire company has filed IRS form 990, Return of Organization Exempt from Income Tax, and any report required pursuant to Section 30-a of the General Municipal Law (receipts and disbursements of foreign fire insurance premium tax moneys). If such filings are required, but not made, the audit must examine all revenues, expenditures and resources from any source.Upon completion of the audit, a certified copy must be provided to the fire company and the contracting municipality within 180 days of the end of the fiscal year. Fire districts or fire companies with annual revenues of less than $300,000 may obtain independent audits,but are not required to do so.This threshold,however, does not exempt fire districts or fire companies from any statutory reporting requirements discussed above. All fire district audits must be conducted in accordance with standards applicable to financial audits prescribed in the Government Auditing Standards (GAGAS) issued by the Comptroller General of the United States OSC does not require that local governments fulfill their statutory filing requirements in accordance with Generally Accepted Accounting Principles (GAAP) and will continue to accept the annual financial reports with fund level statements in accordance with the Uniform System of Accounts (USA). Fire Districts that prepare their financial statements in conformity with the USA, a regulatory basis of accounting prescribed by OSC,may have audits conducted in accordance with the AICPA's Statements on Auditing Standards.Those districts that have adopted GAAP reporting should continue to have their statements audited in accordance with GAGAS. All fire company audits must be conducted in accordance with the AICPA Not-for-Profit Audit and Accounting Guide. Length of Service Awards Program (LOSAP) Audits If a district sponsors a LOSAP, they or the designated program administrator of the LOSAP must obtain an annual audit by an independent certified public accountant.A copy of the audit must be given to the program sponsor and to the State Comptroller LOSAP audits must be completed within 270 days of the end of the sponsor's fiscal year. Due to other legislative requirements, fire districts may choose to fulfill this requirement by providing the appropriate service awards program note disclosure as part of the district's annual audited statements,which must be completed within 180 days of the end of the fiscal year. or1 Accounting and Reporting Manual for Fire Districts Chapter 6 Single-Entry Cash: Fire Districts The single-entry cash basis of accounting may be used by fire districts with less than $500,000 of revenues. Cash basis generally means that no financial transaction is recorded in the accounting records of the district unless cash has been received or disbursed. Cash is the only asset measured and reported in the financial statements.Districts are also required to report their cash and fund balance (they should be equal) on a balance sheet for each operating fund used by the districts.When the single-entry cash basis of accounting is used,reserve fund moneys will be reported in a separate fund (R) and not as part of the general fund. The Chart of Accounts listed below and on the following pages show the balance sheet,revenue and expenditure accounts used under the single-entry cash basis of accounting. Single-Entry Cash *Balance Sheet- Chart of Accounts Account Fund Code Name of Account -77R H V PN TA TE 200 Cash X X X X X X 201 Cash in Time Deposits X X X X X X 210 Petty Cash X 230 Cash, Special Reserves X 231 Cash in Time Deposits, Special Reserves X 455 Securities&Mortgages X X 461 Service Awards Program Assets X X 806 Not in Spendable Form X X X 807 Must Remain Intact X X X X 878 Capital Reserve X 882 Reserve for Repairs X 899 I Other Restricted Fund Balance X X X X X 914 Assigned Appropriated Fund Balance X I X I X X 915 Assigned Unappropriated Fund Balance X X X X 917 Unassigned Fund Balance X X X X Single-Entry Cash.Fire Districts Single-Entry Cash Chart of Revenue Accounts Account Fund Code Name of Account A �R H V PN TA TE 1001 Real Property Taxes X 1081 Other Payments in Lieu of Taxes(Specify) X 2262 Charges for Fire Protection and Other Services X 2401 Interest and Earnings X X X X X X 2410 Rentals of Real Property X 2660 Sale of Real Property X X 2665 Sale of Equipment X 2680 Insurance Recoveries X X 2690 Other Compensation for Loss X 2701 Refunds of Prior Years Expenditures X X 2705 Gifts and Donations X X X I X 2706 Grants from Local Governments X X X 2710 Premium&Accrued Interest on Obligations X X 2770 Other Unclassified Revenue(Specify) X X X X 3004 State Aid-Reorganization&Efficiency Grants X 3089 State Aid—Other(Specify) X 3960 State Aid—Emergency Disaster Assistance X X 4389 Federal Aid—Other Public Safety X X 4960 Federal Aid—Emergency Disaster Assistance X X 5031 Interfund Transfers X X X X 5085 Redemption of Investments X X 5710 Serial Bonds X X X 5720 Statutory Installment Bonds X 5730 =BANsRedeermed tion Notes X X 5731 From Appropriations X 5750 Budget Notes X 5760 Tax Anticipation Notes X 5770 Revenue Anticipation Notes X 5785 Installment Purchase Debt I X 5789 Other Debt 1 X 5791 Proceeds of Advance Refunding Bonds X 5792 Proceeds of Current Refunding Bonds X Accounting and Reporting Manual for Fire Districts Single-Entry Cash Chart of Expenditure Accounts Account Fund Code Name of Account - A R ' H- V PN - TA TE 1380.0 Fiscal Agent Fees X 1460.0 Records Management X 1930.0 Judgments and Claims X 1980.0 Payment of MTA Payroll Tax X X X X 1989,0 Other General Government X X 34100 Fire X X X 45400 Ambulance X 87600 Emergency Disaster Work X 9010.0 State Retirement System X 9015.0 Fire and Police Retirement System X 9025.0 Local Pension Fund X 9030.0 Social Security X 90400 Workers'Compensation X 9045.0 Life Insurance X 90500 Unemployment Insurance X 9055.0 Disability Insurance X 9060.0 Hospital and Medical Insurance X 9085.0 Supplemental Benefit Payment to Disabled X Firefighters 9089.0 Other Employee Benefits X X X 9710.0 Serial Bonds X X X 97200 Statutory Installment Bonds X I I X X 9730.0 Bond Anticipation Notes X X X 9750.0 Budget Notes X 97550 Deficiency Notes X 9760.0 Tax Anticipation Notes X 9770.0 Revenue Anticipation Notes X 97850 Installment Purchase Debt X 97890 Other Debt X X X 97900 State Loans X X ev 9901 0 Transfer to Other Funds X X X X X 99050 I Transfer to Capital Projects Fund X 9991 0 Payment to Escrow Agent I I X (Advance Refunding Bonds) Single-Entry Cash:Fire Districts Single-Entry Cash Fiduciary Funds Chart of Liability Accounts Account Name^of Account Code TA13 Service Awards(Program Administrator Retained) TE13 I Service Awards(Administered by Fire District) TA17 Deferred Compensation TA18 State Retirement TAI Disability Insurance TA20 Group Insurance TA21 New York State Income Tax TA22 Federal Income Tax TA23 Income Executions TA24 Association and Union Dues TA25 U.S Savings Bonds TA26 Social Security Tax TA30 Guaranty and Bid Deposits TA50 Foreign Fire Insurance Tax TA85 Other Funds(Specify) TA Agency TE Private-Purpose Trust ' Accounting and Reporting Manual for Fire Districts Single-Entry Cash Schedule of Non-Current Governmental Assets and Liabilities Fund, Account K, W Code Name of Account Non-Current Non-Current Governmental Governmental Assets Liabilities 101 Land X 102 Buildings X 103 Improvements Other Than Buildings X 104 Machinery and Equipment X 105 Construction Work in Progress X Liabilities 619 State Loans Payable X 626 Bond Anticipation Notes Payable X 628 Bonds Payable X 637 Due to Employees'Retirement System X 683 Other Post Employment Benefits X 685 Installment Purchase Debt X 686 Judgments and Claims Payable X 687 Compensated Absences X 689 Other Long Term Debt X 129 Total Non-Current Governmental Liabilities X 159 Total Non-Current Governmental Assets X Single-Entry Cash:Fire Districts Single-Entry Cash SAMPLE FORM CASH RECEIPTS Fite District a Date Received From Receipt Acct. General Agency pCojects 'Other Deposits No. No. Funds . Funds Fund Funds CL Amount Date 7. Feb 10 Town of Arc 101 A1001 5,000.005,000.00 Feb 11 Mar 2 Town of Arc 102 A1001 5,000.00 5,000.00 Mar 3 Mar 5 Village of Arc 103 A2665 10000 100.00 Mar 6 Mar 15 Town of Arc 104 A1001 7,198.00 7,198.00 Mar 16 T March Total I 12,298 00 12,298 00 CD9 Jun 30 General Fund 105 TA21 4.38 Jun 30 General Fund 106 TA26 16.67 June Total 21.05 21 05 July 1 July 15 General Fund 107 TA26 1667 16.67 July 18 Aug 15 Acme Bank 108 H5710 28,000 00 28,000.00 I Aug 15 Nov 14 State Insurance Dept ( 109 TA50 I 15400 154.00 Nov 15 Dec 12 Town of Arc 110 A2410 40.00 Dec 12 Honest Insurance Co. 111 A2701 7.44 47.44 Dec 13 Dec 30 General Fund 112 TA21 I 4.38 Dec 30 General Fund 113 TA26 16.67 21 05 Dec 30 Dec 30 Eugene Good 114 A2705 50.00 50.00 Dec 30 December Total 97.44 21.05 118.49 Total for Year 17,395 44 212.77 28,000 00 45,608.21 Single-Entry Cash SAMPLE FORM CLASSIFICATION OF RECEIPTS Fire District General Fund A-1001 ERentals,, A-2701 A-2660 Other Date Received ;Posting Real • Refund'of 20�_ From, Ref. PropertySale:of RealPrior Years' Taxes Property Expenditures $ Account Feb 28 CR 1 5,000 00 Mar 31 CR 1 5,000.00 Mar 31 CR 1 10000 Mar 31 CR 1 7,198.00 Dec 31 CR 1 40.00 Dec 31 CR 1 7.44 Dec 31 CR 1 50.00 A2705 Totals 17,198 00 40.00 100.00 7.44 5000 Single-Entry Cash:Fire Distracts Single-Entry Cash SAMPLE FORM CASH PAYMENTS Fire District Capital Date paee or Reference Check General Agency projects Other Account y 20=`_ No. Fund Fund 'Fund Funds No. Jan 31 Abstract No 1 1,202.00 Feb 28 Abstract No.2 2,217.22 Mar 31 Abstract No. 3 534.88 Apr 30 Abstract No.4 1,14800 May 31 Abstract No.5 305.54 Jun 30 Abstract No.6 478.52 Jun 30 Payroll No. 1 1,750.00 June Total 2,228.52 Jul 15 Agency Fund 16.67 Jul 15 Social Security 33.34 TA26 Jul 15 I State Tax Department 4.38 TA21 Jul 31 Abstract No 7 1,722.03 July Total 1,738 70 37.72 Aug 31 Abstract No 8 257.34 Sep 15 High Reach Snorkel Co 28,000.00 H3410.2 Sep 30 Abstract No 9 1,700.05 Oct 31 Abstract No. 10 I 1,350.00 Nov 30 Abstract No. 11 1,12394 Dec 31 Payroll No.2 1,75000 Dec 31 Abstract No 12 1,61010 December Total 3,36010 �® TOTAL FOR YEAR 117,166.29 37.72 'Note General Fund account numbers are listed on abstracts and not shown here.You may list all other payments on abstracts with the account numbers in which case account numbers would not be shown in the Cash Payments Book Accounting and Reporting°Manuai for Fire Districts Single-Entry Cash SAMPLE FORM CLASSIFICATION OF PAYMENTS Fire District General Fund A3401.1 A3410.2 A3401.4 Date Contractual Account 20 Posting;Reference, Personal Equipment &Other ° Other No. --- Services Expenses Jan 31 Abstract No 1 202.00 1,000.00 Feb 28 Abstract No.2 417.22 1,000.00 I A9710.6 Feb 28 Abstract No.2 6000 A9710 7 Feb 28 Abstract No.2 74000 A9040.8 Mar 31 Abstract No.3 534.88 Apr 30 Abstract No.4 200.00 698.00 25000 A9055 8 May 31 Abstract No.5 30554 Jun 30 Abstract No.6 180.00 29852 Jun 30 Payroll No. 1 1,750.00 Jul 151 CD No. 1 16.67 A9030.8 Jul 31 Abstract No.7 500.00 1,22203 Aug 31 Abstract No 8 212.34 45.00 A9045.8 Sep 30 Abstract No.9 800.00 90005 Oct 31 Abstract No 10 1,350.00 Nov 30 Abstract No 11 1,123.94 Dec 31 Payroll No.2 1,75000 Dec 31 Abstract No. 12 1,61010 TOTALS $3,500.00 $1,882.00 $9,672.62 $2,111.67 Single-Entry Cash:Fire Districts Chapter 7 Double-Entry Modified Accrual: Fire Districts Fire districts with revenues of$500,000 or more are required to use the modified accrual basis of accounting,rather than the single-entry cash basis of accounting. The modified accrual basis is unique to governments. Under this method of accounting,revenues and other financial resources are recognized when they become susceptible to accrual,which is when they become both measurable and available to finance expenditures of the current fiscal year.Measurable refers to the ability to quantify in monetary terms the amount of the revenue.Available means collectible within the current fiscal year or shortly after the fiscal year end to pay liabilities of the current year. Expenditures,with certain exceptions such as debt service payments,are recognized when the fund liability is incurred. The measurement focus refers to what is measured and reported in the financial statements. The current financial resources measurement focus that fire districts use classifies assets as spendable resources such as cash and other assets that generally will be converted to cash or consumed during the applicable accounting period. Liabilities, such as accounts payable, are generally paid during the applicable accounting period or soon thereafter. For reporting purposes,all reserve fund activity will initially be accounted for and reported in the general fund as opposed to the separate reserve fund used by districts using the single-entry cash basis of accounting. 1 Accounting and Reporting Manual for Fire Districts Double-Entry Modified Accrual Chart of General Ledger Accounts Account Fund Code Name of Account A H V PN TA TE 200 Cash X X X X X X 201 Cash in Time Deposits X X X X X X 210 Petty Cash X 221 Cash for Tax Anticipation Notes X 222 Cash for Revenue Anticipation Notes X 223 Cash with Fiscal Agent X 225 I Cash from Deficiency Note X 230 Cash,Special Reserves X X X X X 231 Cash in Time Deposits, Special Reserves X X X X X Receivabledl 380 Accounts Receivable X X ■ 391 Due from Other Funds X X X X X 410 State and Federal, Other X X 440 Due from Other Governments X X 445 Inventory X 450 Investment in Securities X X X X X X 451 Investment in Repurchase Agreements X X X X X X 452 Investment in Securities,Special Reserves X X X X 453 Investment in Repurchase Agreements, Special Reserves X X X X 455 Securities&Mortgages X X 461 Service Award Program Assets X X .. .' 480 Prepaid Expenses X 510 Estimated Revenues X X X X X 511 I Appropriated Reserves X 521 I Encumbrances I X 522 I Expenditures I X X X X X 530 Obligations Authorized X 599 Appropriated Fund Balance X X Double-Entry Modified Accrual:Fire Districts Double-Entry Modified Accrual Chart of General Ledger Accounts (continued) Account Fund Code Name of Account A H V PN TA TE 600 Accounts Payable X X X X 601 Accrued Liabilities X X 620 Tax Anticipation Notes Payable X 621 Revenue Anticipation Notes Payable X X 622 Budget Notes Payable X 624 Deficiency Notes Payable X 626 Bond Anticipation Notes Payable X X 629 Bond Interest and Matured Bonds Payable X X 630 Due to Other Funds X X X X X 631 Due to Other Governments X 637 Due to Employees' Retirement System X 651 Accrued Interest Payable X 687 Compensated Absences(Vacation and Sick Leave) X 688 Other Liabilities X X X X 690 Overpayments X 691 Deferred Inflow of Resources X 695 Deferred Tax Revenue—Reserve for Excess X Accounting,andReporting'Manuol for Fire Districts Double-Entry Modified Accrual Chart of General Ledger Accounts (continued) Account Fund Code Name of Account AH V PN TA TE Fund Equity: _4 806 Not in Spendable Form X X X 807 Must Remain Intact X X X X 815 Unemployment Insurance Reserve X 827 Retirement Contribution Reserve X 867 Reserve for Employee Benefits and Accrued Liabilities X 878 Capital Reserve X X 880 Contingency and Tax Stabilization Reserve X 882 Reserve for Repairs X 884 Reserve for Debt X X 899 Other Restricted Fund Balance X X X X 914 Assigned Appropriated Fund Balance X X X 915 Assigned Unappropriated Fund Balance X X X X 917 Unassigned Fund Balance X X X X 960 Appropriations X X X 962 Budgetary Provision for Other Uses X 980 Revenues X X X Double-Entry ModifiedAccrual:Fire Districts ' Double-Entry Modified Accrual Chart of Revenue Accounts Account Fund Code Name of.Account A -H V PN TE 1001 Real Property Taxes X 1081 Other Payments in Lieu of Taxes(Specify) X 2262 Charges for Fire Protection and Other X 2401 Interest and Earnings X X X X X 2410 Rental of Real Property X 2660 Sale of Real Property X 2665 Sale of Equipment X 2680 Insurance Recoveries X 2690 Other Compensation for Loss X 2701 Refunds of Prior Years Expenditures X X 2705 Gifts and Donations X X X X 2706 Grants from Local Governments X X 2710 Premium&Accrued Interest on Obligations X X 2770 Other Unclassified Revenue(Specify) X X X 3004 State Aid-Reorganization and Efficiency Grants X 3089 State Aid-Other(Specify) X 3960 State Aid-Emergency Disaster Assistance X X 4389 Federal Aid-Other Public Safety X X 4960 Federal Aid—Emergency Disaster Assistance X X 5031 Interfund Transfers X X X 5710 Serial Bonds X X X 5720 Statutory Installment Bonds X 5730 Bond Anticipation Notes X X 5731 BANs Redeemed from Appropriations X 5785 Installment Purchase Debt X 5789 Other Debt X 5791 Proceeds of Advance Refunding Bonds X 5792 Current Refunding Bonds X Accounting and Reporting Manual for Fire Districts Double-Entry Modified Accrual Chart of Appropriation Accounts Account Fund Code Name,of Account AMX PN TE 1380.0 Fiscal Agent Fees 1460.0 Records Management X 19300 Judgments and Claims X 1980.0 Payment of MTA Payroll Tax X X X 1989.0 Other General Government X X 34100 Fire X X 4540.0 Ambulance X 8760.0 Emergency Disaster Work X 9010.0 State Retirement System X 90150 Fire and Police Retirement System X 9025.0 Local Pension Fund X 9030.0 Social Security X 90400 Workers'Compensation X 90450 Life Insurance X 9050.0 Unemployment Insurance X 90550 Disability Insurance X 9060.0 Hospital and Medical Insurance X 9085.0 Supplemental Benefit Payment to Disabled Firefighters X 90890 Other Employee Benefits X X X 97100 Serial Bonds X X X 9720.0 Statutory Installment Bonds X X X 9730.0 Bond Anticipation Notes X X X 9750.0 Budget Notes X 9755.0 Deficiency Notes X 97600 Tax Anticipation Notes X 9770.0 Revenue Anticipation Notes X 9785.0 Installment Purchase Debt X X 9789.0 Other Debt X X X X 9790.0 State Loans X X 9901.0 Transfer to Other Funds X X X X 9950.0 Transfer to Capital Projects Fund X 9991 0 1 Payments to Escrow Agent(Advance Refunding Bonds) I X Double-Entry Modified Accrual:Fire Districts Double-Entry Modified Accrual Fiduciary Funds Chart of Liability Accounts Account Name of Account Code TA13 Service Awards(Program Administrator Retained) TE13 Service Awards(Administered by Fire District) TA17 Deferred Compensation TA18 I State Retirement TA19 Disability Insurance TA20 Group Insurance TA21 New York State Income Tax TA22 Federal Income Tax TA23 Income Executions TA24 Association and Union Dues TA25 U S. Savings Bonds TA26 Social Security Tax TA30 Guaranty and Bid Deposits TA50 Foreign Fire Insurance Tax TA85 Other Funds(Specify) TA Agency TE Private-Purpose Trust' "Private-purpose trust funds require the reporting of revenues and expenses using the account codes from the appropriate Chart of Accounts. Accounting and Reporting Manual for Fire Districts Double-Entry Modified Accrual Schedule of Non-Current Governmental Assets and Liabilities Fund .Account K W Code Name of Account Non-Current Non-Current Governmental Governmental Assets Liabilities Asset 101 Land X 102 Buildings X 103 Improvements Other Than Buildings X 104 Machinery and Equipment X 105 Construction Work in Progress X Accumulated Dep!e',(aticin 112 Buildings X 113 Improvements Other than Buildings X 114 I Machinery and Equipment X Liabilities n 619 State Loans Payable X 626 Bond Anticipation Notes Payable X 628 Bonds Payable X 637 Due to Employees' Retirement System X 683 Other Post Employment Benefits X 685 Installment Purchase Debt X 686 Judgments and Claims Payable X 687 Compensated Absences X 689 Other Long Term Debt X 1159129 Total Non-Current Governmental Liabilities X Total Non-Current Governmental Assets X Double-Entry Modified Accrual:Fire Districts Double-Entry Modified Accrual SAMPLE FORM GENERAL JOURNAL General FUND Date Account and Explanation Account Debit Credit 20 No. Jan 2 Estimated Revenues A510 17,438.00 Appropriations I A960 I 17,438 00 To record budget for 20_ (See budget for details) Jan.5 Expenditures A522 1,05000 Fire A3410.2 Accounts Payable A600 1,050.00 To record an expenditure for the purchase of fire equipment Jan.31 Accounts Payable A600 1,050.00 Cash A200 1,05000 To record the actual payment to the vendor for fire equipment. Accounting and Reporting-Manual for Fire Districts' Double-Entry Modified Accrual SAMPLE FORM CASH RECEIPTS JOURNAL General FUND Page CR1 Date Received Receipt Account Debit Debit Credit Credit 20 From No, Code 200 Cash Other 980 Revenues Other Feb 10 Town of Arc 101 A1001 5,00000 5,000.00 Mar.2 Town of Arc 102 A1001 5,00000 5,000.00 Mar 5 Village of Arc 103 A2660 10000 100.00 Mar. 15 Town of Arc 104 A1001 7,198 00 7,198.00 March Total 12,298 00 12,298 00 Double-Entry Modified Accrual:Fire Districts Double-Entry Modified Accrual SAMPLE FORM CASH DISBURSEMENTS JOURNAL General FUND Page CD1 Debit Date Paid Check Account Credit Credit 522 Debit 20_ To No. Code 200 Cash Other Expenditure Other Jan 31 Abstract No. 1 1,202 00 1,202.00 Feb 28 Abstract No.2 1 2,21722 2,217.22 vl 1 Accounting and Reporting Manual for Fire Districts . Double-Entry Modified Accrual SAMPLE FORM GENERAL LEDGER Account: Revenues Acct.No. A980 Date 2000 Explanation Ref. Debit Credit Balance Feb.28 CR1 5,000.00 5,000.00 Mar. 31 CR1 12,298.00 i 17,298 00 Double-Entry Modified Accrual:Fire Districts ' Double-Entry Modified Accrual SAMPLE FORM SUBSIDIARY REVENUE LEDGER Account: Real Property Taxes Acct.No. A1001 Date 20,_ Explanation Ref. Estimated Actual Revenues Balance Revenue Unearned Jan.21 GJ1 17,198 00 17,198 00 Feb 28 CRI 5,000 00 12,198.00 Mar 31 a CRI 12,198 00 -0- ' Accounting and Reporting Manual for Fire Districts Double-Entry Modified Accrual SAMPLE FORM SUBSIDIARY APPROPRIATION-EXPENDITURE LEDGER Account: Fire Protection -Contractual Acct.No. A3410.4 Payee/ Unencumbered Date 20_ Description Ref. Appropriations Encumbrances Expenditures Balance Jan 2 GJ1 9,800 00 9,800.00 Jan 5 GJ1 1,050 00 8,750.00 Jan.31 GJ1 -1,05000 9,80000 Jan.31 CD1 1,000.00 8,80000 Double-Entry Modified Accrual:Fire Districts ' Chapter 8 Sample Journal Entries Opening Entry to record the opening entry of the•General Fund as shown by records at the close of the fiscal year 2013(prior year): Sub Account Debit Credit A200 Cash $203,000 A230 Cash, Special Reserves $25,800 A380 Accounts Receivable $1,200 A600 Accounts Payable $6,000 A912 Unrestricted Fund Balance $224,000 Note:A912 Unrestricted Fund Balance is used focaccounting only,not for reporting purposes. Amounts in'this account should be allocated to either A915 Assigned Unappropnated-Fund Balance or A917 Unassigned Fund Balance for reporting purposes,as appropriate. Budget Entry and Subsequent Modifications To record the annual:budget for the General Fund as adopted by the governing board for fiscal year20.14(current year): Sub Account Debit Credit A510 Estimated Revenues $510,000 A1001 Real Property Taxes $485,000 A2660 Sale of Equipment $20,000 A2705 Gifts and Donations $5,000 A599 Appropriated Fund Balance $8,000 A960 Appropriations $518,000 A3410 Fire $430,000 A9025 Local Pension Fund $23,000 A9040 Workers'Compensation $65,000 Note.Opening budget entries would normally be recorded as one combined entry at the beginning of the district's fiscal year. Certain budget,.. entries have been included throughout these journal entries for illustration purposes. See entries 14,20a,20b and 27 for more detail'on budget entries related to encumbrances,reserves,and capital projects. To record authorized transfers between appropriations: Sub Account Debit Credit A960 Appropriations $2,400 A9040 Workers'Compensation $2,400 A960 Appropriations $2,400 A9025 Local Pension Fund $2,400 Accounting and Reporting Manual for Fire Districts Sample Journal Entries To record the appropriation of fund balance to increase existing or to meet additional appropriations: Sub Account Debit Credit A599 Appropriated Fund Balance $2,000 A960 Appropriations $2,000 A4540.4 Ambulance $2,000 To record the appropriation of unanticipated revenues to meet additional appropriations: Sub Account Debit Credit A510 Estimated Revenues $12,000 A2680 Insurance Recoveries $3,500 A2705 Gifts and Donations $5,000 A4960 Federal Aid-Emergency Disaster Assistance $3,500 A960 Appropriations $12,000 A3410.4 Fire-Repairs $12,000 To record a reduction of appropriations and estimated revenues whenever the board of commissioners determines thatthe revenue will not equal the budget estimates: Sub Account Debit Credit A960 Appropriations $1,000 A3410 4 Fire-Repairs $1,000 A510 Estimated Revenues $1,000 A4960 Federal Aid-Emergency Disaster Assistance $1,000 Sample Journal Entn s ' Sample Journal Entries ar Real Property Taxes Fire Districts that use the cash basis of accounting must use entry 6 to account for real property tax revenues Fire Districts using modified accrual accounting may use either entries 5a& 5b or 6. To record taxes levied for the purpose of the budget: Sub Account Debit Credit A440 Due From Other Governments $485,000 A980 Revenues $485,000 A1001 Real Property Taxes $485,000 To record receipt of tax moneys: Sub Account Debit Credit A200 Cash $485,000 A440 Due From Other Governments $485,000 To record taxes levied for the purpose of the budgetwhen cash is received: Sub Account Debit Credit A200 Cash $485,000 A980 Revenues $485,000 A1001 Real Property Taxes $485,000 Accounting and Reporting Manual for Fire Districts Sample Journal Entries Revenue Entries Other Than Real Property Taxes To record the receipt of cash donations: Sub Account Debit Credit A200 Cash $15,000 A980 Revenues $15,000 A2705 Gifts and Donations $1'5,000 To record amounts receivable from the sale of equipment:. Sub Account Debit Credit A380 Accounts Receivable $18,500 A980 Revenues $18,500 A2660 Sale of Equipment $18,500 To record the receipt of cash forthe sale of equipment which had been previously accrued: Sub Account Debit Credit A200 Cash $16,200 A380 Accounts Receivable $16,200 To record the investment of funds in either certificates of depositor time deposit accounts permitted by Section 11 of the General Municipal Law: Sub Account Debit Credit A201 Cash in Time Deposits $50,000 A200 Cash $50,000 To record the redemption of certificates of deposit or time deposit accounts and interest earned on the investment: Sub Account Debit Credit A200 Cash $51,000 A201 Cash in Time Deposits $50,000 A980 Revenues $1,000 A2401 Interest and Earnings $1,000 Sample Journal Entries Sample Journal Entries Expenditures To record an amount expended from appropriations: Sub Account Debit Credit A522 Expenditures $80,000 A3410.4 Fire-Repairs $16,000 A9025 8 Local Pension Fund $25,400 A9040.8 Workers'Compensation $36,600 A4540.4 Ambulance $2,000 A600 Accounts Payable $80,000 To record payment of invoice: Sub Account Debit Credit A600 Accounts Payable $80,000 A200 Cash $80,000 Accounting and Reporting Manual for Fire Districts Sample Journal Entries Encumbrances To increase the 2014(current year)budget appropriations for fiscal year2013(prior year)encumbrances: Sub Account Debit Credit A599 Appropriated Fund Balance $1,500 A960 Appropriations $1,500 A3410.4 Fire $1,500 Note:This entry has been separated from the opening budget entry(2)for illustration purposes,Normally these entries•would be recorded as one combined entry, To reopen encumbrances from fiscal year 2013(prioryear): Sub Account Debit Credit A521 Encumbrances $1,500 A3410.4 Fire $1,500 A915 Assigned Unappropriated Fund Balance $1,500 I.Note:Encumbrances may be reopened to restricted fund balance if the funds that were encumbered came from a restricted source, To record encumbrances for fiscal year 2014 for unfilled purchase orders: Sub Account Debit Credit A521 Encumbrances $2,300 A3410.4 Fire $2,300 A821 Reserve for Encumbrances $2,300 Note:A821 Reserve for Encumbrances is used for accounting purposes during the year,but is no longer used for reporting purposes at year end.For year end reporting,outstanding encumbrances should be closed out to fund balance. See entry 19 for additional detail. To-liquidate encumbrances when the purchase order is filled: Sub Account Debit Credit A821 Reserve for Encumbrances $1,500 A521 Encumbrances $1,500 A3410.4 Fire $1,500 Note A821 Reserve for Encumbrances is used for accounting purposes during the year,but is no longer used for reporting purposes at year end.For.year end,reporting,outstanding encumbrances should be closed out to fund balance: See entry 19 for additional detail. Sample Journal Entries Sample Journal Entries To record the purchase: Sub Account Debit Credit A522 Expenditures $2,300 A3410.4 Fire $2,300 A200 Cash $2,300 To close outstanding encumbrances afthe"end of the fiscal year20* Sub Account Debit Credit A915 Assigned Unappropriated Fund Balance $1,500 A521 Encumbrances $1,500' Note:Encumbrances may be closed to restricted fund balance if the funds that were encumbered came from a restricted source, 1 Accounting and Reporting Manual for Fire Districts Sample Journal Entries Reserve Entries i• To fund a repair reserve in the adopted budget. Sub Account Debit Credit A510 Estimated Revenues $10,000 A1001 Real Property Taxes $10,000 A962 Budgetary Provision for Other Uses(Repair Reserve) $10,000 Note:This entry has been separated from the opening budget entry(2)for illustration purposes,Normally these entries would be recorded as one combined entry. i To appropriate funds from a reserve in the adopted budget: Sub Account Debit Credit A511 Appropriated Reserves(Repair Reserve), $12,000 A960 Appropriations $12,000 A3410.4 Fire $12,000 Note:This entry has been separated from the opening budget entry(2)for illustration purposes.Normally these entries would be recorded as one combined entry. To use fund balance,either at year end or during the year,to fund the repair reserve: Sub Account Debit Credit A912 Unrestricted Fund Balance $10,000 A882 Reserve for Repairs $10,000 Note:A912 Unrestricted Fund Balance is used for accounting only,not for reporting purposes, Amounts in this account should be allocated to eitherA915 Assigned Unapproplated Fund Balance or A917 Unassigned Fund Balances for reporting purposes,as appropriate. To classify assets as restricted: Sub Account Debit Credit A230 Cash,Special Reserve $10,000 A200 Cash $10,000 To record interest earned by reserve and restricted cash: Sub Account Debit Credit A230 Cash, Special Reserves $300 A980' Revenues $300 A2401 Interest and Earnings $300 To record the amount expended.from the appropriated reserve: Sub Account Debit Credit A522 Expenditures $12,000 A3410.4 Fire $12,000 A230 Cash,Special Reserves $12,000 Sample Journal Entries Sample Journal Entries Closing Entries To record the closing of operating revenues at the end of the fiscal year 2014: Sub Account Debit Credit 7 A980 Revenues $519,800 A912 Unrestricted Fund Balance $519,500 A882 Reserve for Repairs $300 Note-A912 Unrestricted Fund Balance is used for accounting only,not for reporting purposes. Amounts in this account should beLallocaLtedto either A915 Assigned Unappropriated Fund Balance orA917 Unassigned Fund Balance for reporting purposes,as appropriate. COMM To record the closing of operating expenditures at the end of the fiscal year 2014: Sub Account Debit Credit A912 Unrestricted Fund Balance $82,300 A882 Reserve for Repairs $12,000 A522 Expenditures $94,300 Note:A912 Unrestricted Fund Balance is used for accounting only,not for reporting purposes. Amounts in this account should be allocated to either A915 Assigned Unappropriated Fund Balance or A917 Unassigned Fund Balance for reporting purposes,as appropriate. To close budgetary accounts.at the end of the fiscal year 2014: Sub Account Debit Credit A960 Appropriations $543,000 A962 Budgetary Provisions for Other Uses $10,000 A510 Estimated Revenues $531,000 A511 Appropriated Reserves(Repair Reserve) $12,000 A599 Appropriated Fund Balance $10,000 Accounting and Reporting Manual for Fire Districts Sample Journal Entries Capital Projects Fund To cord the authorization of Capital,P,roject#I,and,the manner in Which it will be financed: Sub Account Debit Credit H510 Estimated Revenues $150,000 H5710 Serial Bonds $125,000 H5031 Interfund Transfer $25,000 H960 Appropriations $150,000 the arriountapp6priated from the general,fuind: , Sub Account Debit Credit H391 Due from Other Funds $25,000 H980 Revenues $25,000 H5031 Interfund Transfer $25,000 JO record transfeefrom the general f6p�d: -Z Sub Account Debit Credit H200 Cash $25,000 H391 Due from Other Funds $25,000 =.,to record the req:'eil$`t_o_f a temporary transfer from the general fund t6`pay_",sqme of the preliminary project costs: Sub Account Debit Credit H200 Cash $10,000 H630 Due to Other Funds $10,000 'To record the paymentofproject-cost s,,s uch as origin ee ring fees: Sub Account Debit Credit H522 Project Expenditures $6,000 H3410.2 Fire $6,000 H200 Cash $6,000 To record the receipt of the proceeds of bond anticipation notes:, Sub Account Debit Credit H200 Cash $85,000 H626 Bond Anticipation Notes Payable $85,000 7-IMSample Journal Entries Sample Journal Entries To record payments to contractors for process payments°for construction•in�progress(billing of$100,000 with 10 percent retainage to be withheld): Sub Account Debit Credit H522 Expenditures $90,000 H3410 2 Fire $90,000 H2O0 Cash $90,000 To record the receipt of treasury bills from a contractor,equal to the amount of retainage,as security for the release of the cash due to the contractor: Sub Account Debit Credit H455 Securities and Mortgages $10,000 H2O0 Cash $10,000 Note:GNIL'allows fire districts to release the cash retained upon the request of the contractor and the cont'ractor's replacement of the cash with bonds,notes,or other obligations guaranteed by the United States,New York State,or any political subdivision of New York State. To record the sale of bonds: Sub Account Debit Credit H2O0 Cash $125,000 H980 Revenues $125,000 H5710 Senal Bonds $125,000 In.addition to the entry above,the following entry will be made on the Schedule of Non-Current Governmental Liabilities: Sub Account Debit Credit W129 Total Non-Current Government Liabilities 125,000 W628 Bonds Payable 125,000 To record payment of BAN principal: Sub Account Debit Credit H626 Bond Anticipation Notes Payable 85,000 H2O0 Cash 85,000 If the BAN principal was paid from an appropriation in the general fund,the entry in the Capital Projects fund'would be: Sub Account Debit Credit H626 Bond Anticipation Note Payable $85,000 H980 Revenues $85,000 H5731 Bond Anticipation Notes Redeemed from Appropriations $85,000 11Accounting and Reporting Manual for Fire Districts Sample Journal Entries To record the release of amounts due to contractors upon final approval of the project: Sub Account Debit Credit H522 Expenditures $10,000 H3410.2 Fire $10,000 H200 Cash $10,000 Note:Credit would be to H455 if cash retained has been replaced by eligible securities,Interest earned on the obligations being retained is due to the contractor unless there is an agreement stating otherwise. To close project expenditures atthe end of the fiscal year 2014-- Sub Account Debit Credit H912 Fund Balance, Unrestricted $106,000 H522 Project Expenditures $106,000 Note.A912 Unrestricted Fund Balance is used for accounting only,not for reporting purposes. Amounts in this account should be allocated to either A915 Assigned Unappropriated Fund Balance or A917 Unassigned Fund Balance for reporting purposes,as appropriate. To close project revenues atthe end of the fiscal year 2014: Sub Account Debit Credit H980 Revenues $150,000 H912 Fund Balance, Unrestricted $150,000 Note:A912 Unrestricted Fund Balance is used for accounting only,not for reporting purposes. Amounts in this account should be allocated to either A915 Assigned Unappropriated Fund Balance or A917 Unassigned Fund Balance for reporting purposes,as appropriate. To close the capital project authorization at conclusion of the project: Sub Account Debit Credit H960 Appropriations $150,000 H510 Estimated Revenues $150,000 To transfer the unexpended balance of the capital project to the Debt Service Fund: Sub Account Debit Credit H522 Expenditures $44,000 H9901 9 Transfers, Other Funds $44,000 H200 Cash $44,000 Note If the unexpended balance is required to be used to pay off the debt on the capital projects fund,it should be transferred to the Debt Service Fund. If not,it should be transferred to the General Fund. Sample Journal Entries Chapter 9 Account Code Definitions Explanation of General Ledger Accounts 101 Land The cost of land acquired by a district for its own use. If the land is purchased, the amount reported is to include the purchase price and incidental costs incurred to put the land in condition for its intended use, such as legal fees and excavating costs. For donated land, the district should report the land's fair market value at the time of acquisition. Site improvements acquired with the land may be reported in this account,unless depreciation on such improvements is required. 102 Buildings The cost of acquiring a building, or making additions and improvements to existing buildings by a district.The cost of fixtures permanently attached to the structure must also be reported in this account. The cost of repairs and maintenance to a building should not be reported in this account.These costs should be recognized as an expense when incurred. 103 Improvements Other than Buildings (Optional) The cost of site improvement with a limited life (where replacement will be required in the future). Such improvements may include paving, fencing, and landscaping. 104 Machinery and Equipment The cost of machinery and equipment,including trade-in allowance. For donated machinery and equipment, the appraised value should be used. 105 Construction Work in Progress (Optional) The costs made during the fiscal year on a building or other project that will not be completed at the close of the period Accounting and Reporting Manual for Fire Districts 112 Accumulated Depreciation — Buildings (Optional) A contra-asset account for account 102-Buildings. If used, the individual property record cards must reflect the depreciation charge details. 113 Accumulated Depreciation --Improvements-Other than Buildings (Optional) A contra-asset account for account 103- Improvements Other than Buildings. If used, the individual ,property record cards must reflect the depreciation charge details. 114 Accumulated Depreciation — Equipment (Optional) A contra-asset account for account 104-Machinery and Equipment. If used, the individual property record cards must reflect the depreciation charge details. 129 Total Non-Current Government Liabilities Reflects the total amount of non-current liabilities reported on the Schedule of Non-Current Government Liabilities (W). 159 Total Non-Current Government Assets Reflects the total amount of non-current assets reported on the Schedule of Non-Current Government Assets (K). 200 Cash The total amount of cash held by the district, except for cash recorded in another cash account listed below. Segregation of cash in separate bank accounts is generally not required. 201 Cash in Time Deposits Cash deposited and held in interest-bearing time deposit accounts or in time certificates of deposit. 210 Petty Cash Cash maintained in a district's petty cash fund.The petty cash fund includes moneys set aside to make change or pay small obligations when the issuance of a formal voucher or check is not cost effective. Account Code Definitions 221 Cash for Tax Anticipation Notes Cash set aside for the payment of tax anticipation notes.An analysis of the account should be maintained showing, separately, the cash applicable to each year of tax levy. 222 Cash for Revenue Anticipation Notes Cash set aside for payment of revenue anticipation notes. 225 Cash for Deficiency Note Cash set aside for payment of deficiency notes 223 Cash with Fiscal Agent Cash held by the fiscal agent for payment on principal and interest on outstanding obligations.The balance should agree with the balance in 629 Bond Interest and Matured Bonds Payable,and should be reconciled with the bank account. 230 Cash, Special Reserves Cash held in special reserve funds that were established pursuant to General Municipal Law. An analysis or a subsidiary account should be maintained to segregate the cash balance of each special reserve fund 231 Cash in Time Deposits, Special Reserves The portion of reserve fund cash that was deposited in interest-bearing time deposit accounts or in time certificates of deposit 380 Accounts Receivable Amounts owed to a district from private individuals or organizations for goods or services rendered (but not including amounts due from other funds or governments). A subsidiary record should be maintained for each debtor This account should be reviewed monthly to determine if any charges are overdue. If they remain unpaid after diligent effort to collect,appropriate action should be taken to enforce payment. Accounting and Reporting Manual for Fire Districts 391 Due from Other Funds Amounts owed to a particular fund by another fund.An analysis of this account, or subsidiary accounts,will be maintained to show the amounts due from each fund 410 Due from State and Federal Amounts due to a district (such as aid or reimbursement) from the State or Federal government. Adjustments to this account should be supported by correspondence from the agencies concerned. 440 Due from Other Governments Amounts due from other governments, other than the State or Federal government. Subsidiary accounts should be maintained. 445 Inventory Bulk purchases made by a district.The balance represents the value of materials in inventory. 450 Investment in Securities Investments in securities, other than certificates of deposit, special time deposits,repurchase agreements and securities purchased from reserve funds. A subsidiary record should be maintained detailing the specifics of each investment. 451 Investment in Repurchase Agreements Investments in repurchase agreements for all moneys other than those of special reserves.A repurchase agreement is entered into when a district purchases securities from a financial institution and in return the financial institution promises to repurchase the securities at the purchase price plus interest at a future date. Any excess over the purchase price will be credited to 980 Revenues - 2401 Interest and Earnings 452 Investment in Securities, Special Reserves Investments of special reserve moneys in securities other than certificates of deposit, special time deposits and repurchase agreements. Any excess over the purchase price will be credited to 980 Revenues - 2401 Interest and Earnings. Account Code Definitions 453 Investment in Repurchase Agreements, Special Reserves Investments of special reserve moneys in repurchase agreements. Any excess over the purchase price will be credited to 980 Revenues - 2401 Interest and Earnings. 455 Securities & Mortgages The value of securities and mortgages held by the fiscal officer. 461 Service Award Program Assets Assets held by the district or program administrator for a service award program established pursuant to General Nlunicipal Law,Article 11-A. Adjustments to this account may be made during the year or at fiscal year's end. 480 Prepaid Expenses Payment made by a district in advance for goods and services 510 Estimated Revenues A budgetary account a district must use to record and summarize budgetary revenues,not actual revenues, expected to be received in the current fiscal year. 511 Appropriated Reserves A budgetary account a district must use to record the amount of special reserves appropriated in the current year's budget. An analysis of the account should be maintained to segregate the amounts appropriated from each special reserve. 521 Encumbrances The balance in this account represents the total outstanding encumbrances, the details will be maintained in the subsidiary appropriation ledger Encumbrances are obligations in the form of purchase orders or contracts. They are not expenditures or liabilities,but represent the estimated amount of expenditures likely to result if the purchase order/ contracts are completed Before year-end closing, the balance should agree with the balance of 821 Reserve for Encumbrances EmAccounting and Reporting Manual for Fire Districts 522 Expenditures A control account a district must use to record all expenditures made during the year Details of this account must be maintained in the subsidiary appropriation-expenditure ledger. 530 Obligations Authorized A budgetary account a district must use to record the amount of obligations authorized to finance appropriations of the current year. 599 Appropriated Fund Balance A budgetary account a district must use to record the amount of fund balance appropriated in the current year's budget. 600 Accounts Payable Amounts a district owes to private individuals, firms or corporations for goods or services received. 601 Accrued Liabilities This account is used at the close of the fiscal year to accrue the liability for payroll expenditures chargeable to the current fiscal year,but not due and payable until the following fiscal year. Expenditures for which vouchers or bills have been received should be credited to 600 Accounts Payable, 630 Due to Other Funds, or 631 Due to Other Governments according to the character of the vendor (i.e, commercial,interfund or other government). 619 State Loans Payable Amounts owed to New York State for loans that were received by a district. 620 Tax Anticipation Notes Payable The balance in this account reflects the face value of outstanding notes issued in anticipation of the collection of taxes levied against real property.A note register must be maintained pursuant to Local Finance Law, 1163 00. Account Code Definitions 621 Revenue Anticipation Notes Payable The balance in this account reflects the face value of outstanding notes issued in anticipation of collection of revenue other than real property taxes.A note register must be maintained pursuant to Local Finance Law, §163.00. 622 Budget Notes Payable The balance in this account reflects the face value of outstanding notes issued to finance unanticipated expenditures.A note register must be maintained pursuant to Local Finance Law, §163.00. 624 Deficiency Notes Payable The balance in this account reflects the face value of outstanding notes issued to finance a deficiency in any fund where actual revenues were less than the amount estimated in the budget.A note register must be maintained pursuant to Local Finance Law, X163.00. 626 Bond Anticipation Notes Payable The balance in this account reflects the face value of outstanding notes issued for which bonds have been authorized.A note register must be maintained pursuant to Local Finance Law, X163.00. 628 Bonds Payable The balance in this account reflects the face value of bonds outstanding. A note register must be maintained pursuant to Local Finance Law, §163 00. 629 Bond Interest and Matured Bonds Payable This account should reflect any unpaid principal and interest on mature bonds.The balance in this account should agree with the balance in account 223 Cash with Fiscal Agent. 630 Due to Other Funds Amounts owed to a particular fund by another fund.An analysis of this account should be maintained to identify the amount due to each fund. MEAccounting and Reporting Manual for Fire Districts 631 Due to Other Governments Amounts owed to other government units.A subsidiary record should be maintained to show the liability to each unit of government. 637 Due to Employees' Retirement System Amounts owed to the New York State and Local Retirement System and the New York State Police and Fire Retirement System. 651 Accrued Interest Payable Interest costs that have been incurred but are not due until a later date. 683 Other Post Employment Benefits Post employment benefits, other than pensions,a district expects to pay 685 Installment Purchase Debt Amounts due for installment purchase debt. 686 Judgments and Claims Payable Amounts due as a result of judgments or court decisions. 687 Compensated Absences Absences, such as vacation or sick leave, for which a district expects to pay its employees. Unless sick leave vests,it is not required to include the value of accumulated sick leave.Vested rights are those for which the employer has an obligation to make payment even if an employee terminates, thus, they are not contingent on an employee's future service. 688 Other Liabilities This account may be used to record any other current liabilities that are not represented in the above categories Account Code Definitions 689 Other Long-Term Debt (Specify) This account may be used to record other long-term debt that is not represented in any of the above categories. For example,a non-cancelable operating lease of more than one year should be reported in this account. 690 Overpayments This account is used to record overpayments. 691 Deferred Inflow of Resources Assets acquired by a district that are applicable to a future reporting period. 695 Deferred Tax Revenue — Reserve for Excess The amount of real property tax revenue that a district must place in a reserve pursuant to Chapter 97 of the Laws of 2011. 806 Not in Spendable Form The portion of fund balance that is inherently nonspendable in the current year because of its form. Examples include prepaid items,inventory, and non-financial assets held for resale. 807 Must Remain Intact The portion of fund balance that is inherently nonspendable in the current year because it must remain intact.An example includes the principal amount of an endowment 815 Unemployment Insurance Reserve The portion of fund balance reserved for reimbursements to the State Unemployment Insurance Fund. This reserve would only be used if a district has elected to use the benefit reimbursement method. 821 Reserve for Encumbrances This account is no longer active for AUD reporting purposes,however, districts may still use this for accounting purposes during the year to track the amount of outstanding encumbrances.At year-end, any balance in the account should be closed out to fund balance . ' ' Accounting and Reporting'Manual for Fire Districts 827 Retirement Contributions Reserve The portion of fund balance reserved for future payments of retirement contributions. 867 Reserve for Employee Benefits and Accrued Liabilities The portion of fund balance reserved for payment of any accrued "employee benefit" due to an employee on termination of the employee's services. 878 Capital Reserve The portion of fund balance reserved to finance the cost of construction,reconstruction, or acquisition of future capital improvements. 880 Contingency and Tax Stabilization Reserve The portion of fund balance reserved to finance unanticipated revenue loss or unanticipated expenditures chargeable to the general fund portion of the annual budget. 882 Reserve for Repairs The portion of fund balance reserved to pay for certain repairs to capital improvements or equipment. The type of repairs must not be recurring 884 Reserve for Debt The portion of fund balance reserved for moneys that are legally restricted for payment of debt service. 899 Other Restricted Fund Balance The portion of fund balance that is subject to externally enforceable legal purpose restrictions imposed by creditors,grantors, contributors, or laws and regulations of other governments; or through enabling legislation, other than that already captured in reserve codes. 912 Unrestricted Fund Balance The portion of fund balance that is neither nonspendable nor restricted Districts cannot use this account for AUD reporting purposes.At year-end, the balance in this account must be closed out to either 915 Assigned Unappropriated Fund Balance or 917 Unassigned Fund Balance. Account-Codd Definitions 914 Assigned Appropriated Fund Balance The portion of fund balance that has been appropriated into the ensuing years'annual budget. 915 Assigned Unappropriated Fund Balance The portion of fund balance that the Board of Commissioners have established an intended use of the moneys. 917 Unassigned Fund Balance The portion of fund balance that has not been restricted, or assigned. 960 Appropriations This is a budgetary account a district must use to record and summarize all budgetary actions of the governing board. It will not be used to record actual expenditures. 962 Budgetary Provision for Other Purposes This is a budgetary account a district must use to record taxes levied for purposes other than current operations, such as a repair reserve, or to redeem a current liability, such as budget notes. 980 Revenues This is a control account a district uses to record all revenues received during the year. Details of this account must be maintained in the subsidiary ledger. Accounting and Reporting Manual for Fire.Districts Explanation of Revenue Accounts 1001 Real Property Taxes Real property taxes received for fire district purposes. If the fire district is to two or more towns,the amount of taxes from each town should be itemized to reporting. 1081 Other Payments in Lieu of Taxes (Specify) Payments received in lieu of real property taxes,such as voluntary payments by exempt property owners. 2262 Charges for Fire Protection and Other Services Revenue received pursuant to a contract to provide for protection, emergency or general ambulance service outside the fire district. 2401 Interest and Earnings Interest received on bank deposits and interest on earnings on investments. 2410 Rentals of Real Property Revenue received from the rental of fire district property. 2660 Sale-of-Real Property Cash proceeds received from the sale of a capital asset. (Note if the capital asset is a "capital improvement"as defined to Section 6-c of the General Municipal Law,and the capital improvement was financed with bonds or notes which`were outstanding on the date of the sale, then Section 6-1 of the General Municipal Law may require the proceeds of the sale to be deposited in a mandatory reserve fund for the purpose of retiring the obligations) 2665 Sale of Equipment Revenues received from the sale of surplus equipment. Account Code Definitions 2680 Insurance Recoveries Revenues received from insurance and insurance carriers because of a district's economic loss sustained from unexpected events. 2690 Other Compensation for Loss Revenues received from an institution other than the district's insurance carrier for damages to property 2701 Refunds of Prior Year's Expenditures Refunds of expenditures,recovery of overpayment and rebate on insurance from expenditures made in a prior year. Refunds received in the current year should be recorded in the appropriation account that was originally charged 2705 Gifts and Donations Amounts received as gifts and donations from private sources. 2706 Grants from Local Governments Grants received from another local government. 2710 Premium & Accrued Interest on Obligations Revenues received due to an adjustment in the interest rate that reflects the difference between the present value and the face amount of an obligation when the former is greater than the latter. 2770 Other Unclassified Revenue (Specify) Revenues received from sources in which a specific code has not been provided. Entries must be itemized and explained in reporting 3004 State Aid — Reorganization & Efficiency Grants Revenues related to reorganization and efficiency grants received from the State,including,but not limited to,Local Government Re-Organization Grants, Citizen Empowerment Tax Credits,Local Government Efficiency Grants, and Local Government Performance and Efficiency Programs Accounting and Reporting Manual for Fire Districts 3089 State Aid — Other (Specify) Aid received from the State for general government purposes not related to reorganization and efficiency grants or emergency disaster relief. 3960 State Aid — Emergency Disaster Assistance Revenues received from the State for emergency disaster assistance. 4305 Federal Aid — Civil Defense Revenues received from the federal government for civil defense purposes. 4389 Federal Aid---Other- Aid id - OtherAid received from the federal government for general government purposes. 4960 Federal Aid — Emergency Disaster Assistance Revenues received from the federal government for emergency disaster assistance. 5031 Interfund Transfers Contributions received from other funds. 5085 Redemption of Investments (Single-Entry Cash Only) Proceeds from the sale of investments Interest and earnings on investments should be credited to account 2401 Interest and Earnings. 5710 Serial Bonds Proceeds from the issuance of serial bonds. 5720 Statutory Installment Bonds Proceeds from the issuance of statutory installment bonds. Account Code Definitions 5730 Bond Anticipation Notes Proceeds from the issuance of bond anticipation notes.These notes may be issued only when bonds have been authorized.The proceeds of the notes may be expended only for the purposes for which the bonds were authorized, or to pay debt service on the notes. 5731 BANS Redeemed for Appropriations This account represents other financing sources in the Capital Projects Fund and should be used to record the liquidation of Capital Projects Fund liability when the payment of a BAN principal is made from the General Fund (i.e.when the expenditure for the principal payment is recorded in the General Fund). 5750 Budget Notes (Single-Entry Cash Only) Proceeds from budget notes issued. 5760 Tax Anticipation Notes (Single-Entry Cash Only) Proceeds from tax anticipation notes issued. 5770 Revenue Anticipation Notes (Single-Entry Cash Only) Proceeds from revenue anticipation notes issued 5785 Installment Purchase Debt Proceeds from installment purchase debt. 5789 Other Debt Proceeds from other types of debt that are not reported in any other account 5791 Proceeds of Advance Refunding Bonds Proceeds of refunding bonds that are issued in advance of the actual redemption of the old debt These proceeds are placed in an escrow account pending the call date or maturity date of the old debt. W1W Accounting and Reporting Manual for Fire Districts 5792 Proceeds of Current Refunding Bonds Proceeds of refunding bonds that are used to redeem old debt. Explanation of Appropriation Accounts 1380.0 Fiscal Agent Fees Fees, such as debt issuance costs,paid to a bank acting as a fiscal agent. 1460.0 Records Management Charges related to the records management function,such as equipment and contractual items. 1930.0 Judgments and Claims Expenses for settlement of judgments and claims. 1980.0 Payment of MTA Payroll Tax Expenditures made for the payment of the Metropolitan Commuter Transportation Mobility Tax.This expenditure may only affect those districts located in Dutchess,Nassau, Orange,Putnam,Rockland, Suffolk,and Westchester County. 1989.0 Other (Specify) Charges for other general support expenditures. Each expenditure should be explained. 3410.0 Fire Protection This account should be charged with expenditures incurred for firefighting and fire protection activities. Record in H3410.2 apparatus, equipment, construction or purchase of buildings and land purchased from the proceeds of bonds, bond anticipation notes or capital notes and from moneys transferred from the General Fund Account Code Definitions 4540.0 Ambulance The costs for providing general ambulance services. 8760.0 Emergency Disaster Work Expenditures incurred in connection with a federal or State emergency disaster assistance program. 9010.0 State Retirement System* 9015.0 Fire and Police Retirement System* 9025.0 Local Pension Fund* 9030.0 Social Security* 9040.0 Workers' Compensation* 9045.0 Life Insurance* 9050.0 Unemployment Insurance* 9055.0 Disability Insurance* 9060.0 Hospital and Medical Insurance* 9085.0 Supplemental Benefits Payment to Disabled Firefighters* 9089.0 Other Employee Benefits* *Expenditures paid by a district on behalf of its employees. Districts should charge their share of the related expenditures to these accounts Do not include deductions from employee's wages and salaries. smAccounting and Reporting Manual for Fire Districts 9710.0 Serial Bonds Expenditures made for principal and interest payments on serial bonds. 9720.0 Statutory Installment Bonds Expenditures made for principal and interest payments on bonded debt. 9730.0 Bond Anticipation Notes Expenditures made for principal and interest payments on bond anticipation notes (BANS). BANs redeemed from bond proceeds should be recorded in the Capital Projects Fund. 9750.0 Budget Notes Expenditures made for principal and interest payments on budget notes. 9755.0 Deficiency Notes Expenditures made for principal and interest payments on deficiency notes. 9760.0 Tax Anticipation Notes Expenditures made for principal and interest payments on tax anticipation notes 9770.0 Revenue Anticipation Notes Record the payment of principal and interest on the various types of notes when the district uses the single-entry cash method of accounting. For districts using the double- entry modified accrual basis, only the payment of interest will be recorded here. The note principal will be recorded against the general ledger liability account 9785.0 Installment Purchase Debt Expenditures made for principal and interest payments on installment purchase contracts Account Code Definitions 9789.0 Other Long Term Debt Expenditures made for principal and interest payments for other long-term debt (authority loans, etc). 9790.0 State Loans Expenditures made for principal and interest payments on State loans. 9901.0 Transfer to Other Funds Charge authorized transfers to the General Fund though this account. 9950.0 Transfer to Capital Projects Fund Charge authorized transfers to the Capital Projects Fund though this account. 9991.0 Payment to Escrow Agent (Advance Refunding Bonds) Payments made to a fiscal agent for defeasance of bonds. Explanation of Fiduciary Funds TA(E)13 Service Awards When a program administrator is retained, the accounts are handled as agency funds with TA designations.When the program is administered by the fire district, the accounts are handled as a private-purpose trust.As such, the accounts will be designated as TE. TAI Deferred Compensation The balance in this account represents amount of cash and securities held by Deferred Compensation Plan Providers. TA18 State Retirement The balance in this account represents payroll deductions pending remittal to the State for normal contributions,loan repayments, and arrears payments. Accounting and Reporting Manudl for Fire Districts TA19 Disability Insurance The balance of this account represents amounts accumulated for payment of disability insurance contracts. TA-20 Group Insurance The balance of this account represents amounts accumulated for payment of group insurance contracts. Appropriate subsidiary accounts will be required to identify the amounts applicable to each type of group insurance contract. TA21 New York State Income Tax The balance of this account represents payroll deductions pending remittance to the State. Support detail will be maintained on each person's earnings record showing deductions for the payroll period. TA22 Federal Income Tax This account is not required to be used when payroll deductions are deposited immediately in a bank to the credit of the Federal government.It will be used when direct payment is made to the Internal Revenue Service, or when deposits are made to the credit of the Federal government for two or more payrolls. The balance will represent payroll deductions pending remittance to the Internal Revenue Service, or subsequent transmittal to a designated depository. Supporting detail will be maintained on each person's earnings record showing deductions for each payroll period. TA23 Income Executions The balance of this account represents deductions from earnings for garnishees pending remittance to the sheriff or other officer. Subsidiary records are required to identify the amounts deducted with the related executions. Fees for filing an execution or for modifying or vacating an execution will be credited directly to revenue in the General Fund TA24 Association and Union Dues The balance of this account represents payroll deductions for dues pending remittance to the association or organization of civil service employees. Supporting detail will be maintained on each person's earnings record showing deductions for each payroll period. Account Code Definitions TA25 U.S. Savings Bonds The balance of this account represents payroll deductions for the purchase of U.S. Savings Bonds pending the purchase of such bonds.A subsidiary account will be maintained for each officer or employee showing the detail of deductions credited to their account, disbursements made therefrom and the balance remaining. TA-26 Social Security Tax This account is not required to be used when payroll deductions are deposited immediately in a bank to the credit of the Federal government. It will be used when direct payment is made to the Internal Revenue Service,or when deposits are made to the credit of the Federal government for two or more payrolls. The balance of this account represents payroll deductions and the local share pending remittance to the Internal Revenue Service, or subsequent transmittal to a designated repository. Supporting detail will be maintained on each person's earnings record showing deductions for each payroll period. TA30 Guaranty and Bid Deposits The balance will represent the aggregate of amounts held by the fiscal officer on bids and guarantees. Subsidiary detail will be maintained to identify the amount held from each depositor for each purpose. Cash and securities should be separately recorded and identified in both the control and subsidiary accounts. TA50 Foreign Fire Insurance Tax The source of these funds may be the Town Supervisor, the N.Y.S. Insurance Department or Foreign or Alien Fire Insurance Corporations. This money may only be used for the benefit of the firefighters and must be paid over to the treasurer of the fire company. TA85 Other Funds (Specify) This account should be used to record any other type of fiduciary fund that does not fit into any of the categories mentioned above Accounting and Reporting Manual for Fire Districts ^ ' Andrew A. SanFilippo, Executive Deputy Comptroller (AreacodefoxthpKd|owingbjl8un|eoothenwbespedhad) Executive..................................................................................................................................................................474-4O37 Gabriel EDeyoDeputy Comptroller . Nathaa|ieN.Carey,Assistant Comptroller Audits,Local Government Services and Professional Standards.................................................474'S404 (Amdits,Technical Assistance,Accounting and Audit Standards) Local Government and School Accountability Help Line..............................(866)]J1-8S0] ur40O-4934 (Electronic Filing,Financial Reporting,Justice Courts,Training) New York State Retirement Syst em ` Retirement Information Services Inquiries onEmployee Benefits and Programs................................................................474-77]0 Bureau mfMember and Employer Services..............................................(O66)O05-0990nr474-llU1 Monthly Reporting Inquiries....................................................................................................474- 0OU Audits and Plan Changes 474-0167 AllOther Employer Inquiries....................................................................................................474-6S3S Division of Legal Services Municipal Law Section .........................................................................................................................474'5S8d Other OSC Offices Bureau of State Expenditures ..........................................................................................................486-3017 Bureau ofState Contracts...................................................................................................................474-4622 Division"of Local Government and School Accountability y"4Y. Andrew A. SanFilippo, Executive Deputy Comptroller Gabriel F. Deyo, Deputy Comptroller (518) 474-4037 Nathaalie N. Carey, Assistant Comptroller Cole H.Hickland, Director - Jack Dougherty, Director Direct Services (518)474-5480 BINGHAMTON REGIONAL OFFICE-H.Todd Eames,Chief Examiner State Office Building,Suite 1702.44 Hawley Street-Binghamton,New York 13901-4417 Tel(607)721-8306-Fax(607)721-8313-Email:Muni-Binghamtonc@osc.state.ny.us Serving:Broome,Chenango,Cortland,Delaware,Otsego,Schoharie,Sullivan,Tioga,Tompkins counties BUFFALO REGIONAL OFFICE—Jeffrey D.Mazula,Chief Examiner 295 Main Street,Suite 1032-Buffalo,New York 14203-2510 Tel(716)847-3647-Fax(716)847-3643-Email:Muni-Buffaloposc.state.ny.us Serving:Allegany,Cattaraugus,Chautauqua,Erie,Genesee,Niagara,Orleans,Wyoming counties GLENS FALLS REGIONAL OFFICE-Jeffrey P.Leonard,Chief Examiner One Broad Street Plaza-Glens Falls,New York 12801-4396 Tel(518)793-0057-Fax(518)793-5797-Email:Muni-GlensFalls(@osc.state.ny.us Serving:Albany,Clinton,Essex,Franklin,Fulton,Hamilton,Montgomery,Rensselaer,Saratoga,Schenectady,Warren,Washington counties HAUPPAUGE REGIONAL OFFICE—Ira McCracken,Chief Examiner NYS Office Building,Room 3A10.250 Veterans Memorial Highway-Hauppauge,New York 11788-5533 Tel(631)952-6534-Fax(631)952-6530-Email:Muni-Haup_pauge(@osc.state.ny.us Serving:Nassau,Suffolk counties NEWBURGH REGIONAL OFFICE—Tenneh Blamah,Chief Examiner 33 Airport Center Drive,Suite 103-New Windsor,New York 12553-4725 Tel(845)567-0858-Fax(845)567-0080-Email:Muni-Newburgh(caosc.state.ny.us Serving:Columbia,Dutchess,Greene,Orange,Putnam,Rockland,Ulster,Westchester counties ROCHESTER REGIONAL OFFICE—Edward V.Grant Jr.,Chief Examiner The Powers Building-16 West Main Street—Suite 522-Rochester,New York 14614-1608 Tel(585)454-2460-Fax(585)454-3545-Email:Muni-Rochesterposc state.ny.us Serving:Cayuga,Chemung,Livingston,Monroe,Ontario,Schuyler,Seneca,Steuben,Wayne,Yates counties SYRACUSE REGIONAL OFFICE—Rebecca Wilcox,Chief Examiner State Office Building,Room 409.333 E.Washington Street-Syracuse,New York 13202-1428 Tel(315)428-4192•Fax(315)426-2119-Email:Muni-Syracuse(@osc state.ny.us Serving:Herkimer,Jefferson,Lewis,Madison,Oneida,Onondaga,Oswego,St.Lawrence counties STATEWIDE AUDIT-Ann C.Singer,Chief Examiner State Office Building,Suite 1702-44 Hawley Street-Binghamton,New York 13901-4417 Tel(607)721-8306-Fax(607)721-8313 Accounting and-Reporting Manual for Fire Districts r KRe < M New York State Office of the State Comptroller Division of Local Government and School Accountability 110 State Street, 12th Floor•Albany,New York 12236