All school districts and charter schools must utilize the
following methods of revenue and expenditure recognition in budgeting,
accounting, and financial reporting:
(1)Recognize revenue as defined in WAC
392-123-047: Provided, That
school districts that elect the cash basis of expenditure recognition as
defined below shall recognize revenue on the cash basis.
(2)Recognition of expenditures for all funds
shall be on the accrual basis: Provided, That school districts with under one
thousand full time equivalent students for the preceding fiscal year may make a
uniform election for all funds, except debt service funds, to be on the cash
basis of expenditure recognition. Notification of such election shall be given
to the state superintendent of public instruction in the budget of the school
district and shall remain in effect for one full fiscal year: Provided further,
That charter schools may not elect to make a uniform election for any funds to
be on the cash basis of expenditure recognition.
(3) Expenditures for activities prior to
September 1, but within the school year as defined in WAC
392-121-031, are considered
expenditures of the school year commencing September 1.
Notes
Wash. Admin. Code
§
392-123-049
Amended by
WSR
15-18-078, Filed 8/28/2015, effective
9/28/2015
Statutory Authority:
RCW
28A.150.290(2) and 1999 c
309 § 503(7). 99-20-021 (Order 98-07), § 392-123-049, filed 9/28/99,
effective 9/29/99. Statutory Authority: RCW 28A.65.465. 83-21-027 (Order
83-12), § 392-123-049, filed 10/10/83; 82-19-048 (Order 82-13), §
392-123-049, filed 9/14/82.
