Show Notes inancial to Summary 1 of significant Revenues accounting and measurable recognized is they susceptible become available accrual susceptible to intergovernmental and (Continued) policies when recorded are ie is (con’t) Statements Revenues taxes property Determination are accrual be to considered special assessments when of revenues follows: as to revenue when they recognized become revenues are due receivable available Available when due and or past means thereafter the and enough within current period collected soon be of used to the to liabilities current period pay 60 Such time thereafter shall exceed days that not Amounts but measurable not available recorded as deferred are are Property and taxes revenue Sales taxes the of "r' They franchise considered are intermediary by when the available collected liabilities City enough to pay soon records the become by received period if the in the taxes of collecting the current (grant and shared entitlements revenues if susceptible to accrual considered are by of the the City enough to liabilities received pay soon The with the unexpended period following exception current of recorded as deferred portion certain grants are revenue of is the until when expenditure prime expended verification in eligibility factor determining Intergovernmental etc) revenues V 'h- r "’-'J5' - Expenditures y accrued tax intermediary and taxes use when measurable 4 recorded are this to general accumulated unpaid interest general on when rule vacation a liability (1) include: sick and pay Exceptions incurred is portion principal long-term (2) and debt long-term for equipment expenditures property is not allocated inventories operations on expenses is in but reflected when recording years as expenses the incurred liability was The prepaid of effect between and (commitments Encumbrances for contracts of fund Proprietary unds period period incurred on or related services) for subsequent balance appropriations lapse accrual in which the goods unds Proprietary to similar manner Types and of and to are year at year Nonexpendable unperformed reported as expenditures the purchase a as year order reservation only unencumbered end Trust they Revenues earned are (Continued) are recognized unds are maintained accounting the recognized in are expenses of the City’s the financial statements Therefore und in and the prepared a are Nonexpendable Trust enterprises business private basis in the |