6020 – System of Funds and Accounts
NWESD 189 accounting systems are organized and operated on a fund basis. A fund is a fiscal and accounting entity with a self-balancing set of accounts recording financial resources and related liabilities and residual equities or balances that are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations. The following fund types and funds are used by ESDs:
The funds and accounting system used for the NWESD 189 will be those described in the adopted accounting manual for Educational Service Districts. For audited financial reporting purposes, the State reporting model may be used, or the reporting may be modified to reflect the requirements imposed by Generally Accepted Accounting Principles.
First Reading: 06/27/01
Second Reading: 06/27/01
Reference:
RCW 28A.310.330
Accounting Manual for ESDs in the State of Washington
Date Revised: 6/27/01