New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter III - Low Rent Housing › Subchapter D - Accounting Manual For Public Housing Agencies › Part 1642 - Basic Instructions › Subpart 1642-3 - Books Of Account › Section 1642-3.7 - Cost analysis ledger

Current through Register Vol. 46, No. 28, July 10, 2024
A separate cost analysis ledger, controlled by an
						  account or accounts in the general ledger (depending on whether single or
						  multiple general ledger controls are being operated for account 1400,
						  Development Costs) shall be maintained for each project to record development
						  costs. The division may further require, depending on the circumstances, that
						  separate cost analysis ledgers be maintained for each site included in a
						  multiple development project in which case the local agency will be so advised.
						  Separate cost analysis ledgers, controlled by the respective subsidiary ledger
						  accounts shall be maintained for each related program. Binding the various cost
						  analysis ledgers of a project in a single binder is recommended. The cost
						  analysis ledger shall show, in detail, the development costs chargeable to a
						  project. Postings are made to the cost analysis ledger directly from the
						  accounts payable and journal vouchers, the detailed costs recorded thereon
						  being posted individually to the respective cost accounts. Occasional postings
						  to the cost analysis ledger may originate from the books of original entry. The
						  cost analysis ledger may consist of a card or a loose-leaf sheet for each cost
						  account, as per Exhibit 12 of Appendix S-8 or, alternatively, of a loose-leaf
						  sheet for each subgroup of cost accounts with columns for the individual
						  accounts, as per Exhibit 13 of Appendix S-8. The former is recommended as
						  providing a continuous record of all transactions affecting a particular cost
						  classification exclusively and as affording better control over commitments and
						  expenditures inasmuch as space is provided for recording the current approved
						  development cost budget figure for the particular cost classification and the
						  amount requisitioned on the most recent approved certificate of purposes. Cost
						  analysis ledger sheets are provided by the local agency. Stock forms for either
						  specimen, or forms which may be adapted, may be procured at most stationers,
						  either without printing or overprinted. At the end of each calendar month,
						  after all postings have been made, the cost analysis ledger is footed and the
						  total for each account as of the end of that month is determined. The aggregate
						  cumulative totals to date of all accounts, as determined by a monthly trial
						  balance, shall agree with the balance reflected in the 1400 account in the
						  general ledger, a suitable grouping in the trial balance being made, of course,
						  if multiple general ledger controls, as described in section
						  1642-3.3, are maintained. This
						  procedure produces in readily available form, the controlled figures for
						  previous, current, and cumulative costs required in preparing form DH-213, the
						  analysis of expenditures and budget control statement filed with the periodic
						  reports to the division. After footing the cost analysis ledger for the month,
						  transactions for the succeeding month may be recorded immediately following. It
						  will not be necessary to head up a new cost analysis ledger sheet for each new
						  month if space remains on the sheet used for the previous month. Alternative
						  procedures for determining and recording previous current and cumulative costs,
						  as by a different columnar arrangement of the cost analysis ledger sheet or by
						  machine bookkeeping, may be adopted by the local agency.