Washington Administrative Code › Title 392 - Public Instruction, Superintendent of › Chapter 392-123 - Finance-School district budgeting › Section 392-123-047 - Definitions-Revenue, accrual basis expenditures, cash basis expenditures, appropriation, and disbursements

Current through Register Vol. 24-14, July 15, 2024
As used in this chapter, the term:
(1)"Revenue" shall mean an addition to assets
			 of a fund of a school district or charter school during a fiscal period that is
			 available to finance the funds' expenditures during the fiscal period. Revenue
			 does not accompany the increase of liabilities or represent refunds of previous
			 disbursements. Revenue may be in the form of cash, or in the form of non-cash
			 assets such as donated commodities. Revenue for accrual basis expenditure funds
			 is limited to amounts received in cash or noncash donations, plus or minus
			 adjustments for revenue accruals.
(2)"Cash basis revenue" shall mean the actual
			 receipt of revenue not adjusted for revenue accruals.
(3)"Revenue accruals" shall mean those
			 revenues which are (a) anticipated to be received in cash after the close of
			 the fiscal period and (b) represent reimbursement for expenditures incurred by
			 the end of the fiscal period. In order for revenue to be included in revenue
			 accruals, it must meet the above tests.
Revenue accruals, if they meet both tests include:
				Reimbursements on categorical grants for which expenditures have been made but
				payment has not been received; payments from other school districts that are
				due, but are not collected by the end of the fiscal period; deferrals of
				apportionment payments by the state when a deferral occurs because of district
				request or state mandate, and the revenue is due to the district; and rental or
				lease payments that are currently due, and there is reasonable assurance of
				payment.
Revenue that cannot be accrued because it does not meet the
				above tests includes: Collection of excess levies not expected to be received
				until after the end of the fiscal period and PL 874 funds that are to be
				received in cash in the following fiscal period, i.e. the twenty-five percent
				payment that is received after the end of the fiscal period.
(4)"Expenditures" shall mean the decrease in
			 assets with no corresponding decrease in liabilities, or the increase in
			 liabilities with no corresponding increase in assets. 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.
(5) "Expenditure refunds" shall mean the
			 increase in assets with a corresponding decrease in expenditures.
(6)"Revenue refunds" shall mean the increase
			 in liabilities with a corresponding decrease in revenues.
(7) "Liabilities" shall mean debt or other
			 legal obligations arising out of transactions in the past which are payable but
			 not necessarily due.
(8) "Accrual
			 basis expenditures" shall mean expenditures incurred during a given fiscal
			 period, whether paid or unpaid.
(9)
			 "Cash basis expenditures" shall mean the disbursement of cash for expenditures
			 during a given fiscal period regardless of when liabilities are incurred, and
			 the disbursement of inventory.
(10)"Appropriation" shall mean the maximum
			 authorization during a given fiscal period to incur expenditures.
(11) "Disbursements" shall mean payments in
			 cash, including the issuance of warrants, and the disbursement of
			 inventory.
Statutory Authority:
				  RCW
				  28A.150.290(2) and 1999 c
				  309 § 503(7). 99-20-021 (Order 98-07), § 392-123-047, filed 9/28/99,
				  effective 9/29/99. Statutory Authority: RCW 28A.41.170, 28A.65.465 and
				  28A.41.055. 85-15-110 (Order 85-3), § 392-123-047, filed 7/24/85.
				  Statutory Authority: RCW 28A.65.465. 83-21-027 (Order 83-12), §
				  392-123-047, filed 10/10/83; 82-19-048 (Order 82-13), § 392-123-047, filed
				  9/14/82.