CALIFORNIA SCHOOL ACCOUNTING MANUAL

CALIFORNIA SCHOOL ACCOUNTING MANUAL

2019 EDITION

Officially approved by the California State Board of Education Published by the California Department of Education Sacramento, 2019

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CALIFORNIA SCHOOL ACCOUNTING MANUAL

2019 EDITION

Officially approved by the California State Board of Education in accordance with Education Code Section 41010 for required use by California public schools

Prepared under the direction of the School Fiscal Services Division California Department of Education

Publishing Information

The California School Accounting Manual (2019 Edition) was approved by the California State Board of Education on January 9, 2019. The members of the State Board were the following: Dr. Michael Kirst, State Board President; Dr. Ilene Straus, State Board Vice President; Ms. Sue Burr, Mr. Bruce Holaday, Dr. Feliza I. Ortiz-Licon, Ms. Patricia Ann Rucker, Dr. Nicolasa Sandoval, Dr. Ting L. Sun, Dr. Karen Valdes, Ms. Trish Boyd Williams, Gema Cardenas, Student Member.

This publication was developed by the School Fiscal Services Division, California Department of Education. It was designed and prepared for printing by the staff of CDE Press. It was published by the Department of Education, 1430 N Street, Sacramento, CA 95814-5901. It was distributed under the provisions of the Library Distribution Act and Government Code Section 11096.

? 2019 by the California Department of Education

All rights reserved

ISBN 978-0-8011-1800-5

Ordering Information

This publication is available to be viewed, printed, or downloaded from CDE's Definitions, Instructions, & Procedures web page at .

California School Accounting Manual

Contents

(To view and search this manual electronically, visit CDE's Definitions, Instructions, and Procedures web page at .)

A Message from the State Superintendent of Public Instruction .................................................xiii

Introduction.................................................................................................................................. xv

SECTION 100 GENERAL ACCOUNTING PRINCIPLES

Procedure 101

Governmental Accounting

Revised March 2016............................................................................................................... 101-1

Generally Accepted Accounting Principles ......................................... 101-1 Governmental Accounting Principles .................................................. 101-1 Measurement Focus ............................................................................. 101-2 Basis of Accounting ............................................................................. 101-2 Revenue Recognition ........................................................................... 101-3 Financial Reporting.............................................................................. 101-4

Procedure 105

Fund Accounting

Revised October 2011 ............................................................................................................ 105-1 Definition and Purpose of Funds ......................................................... 105-1 Categories and Types of Funds............................................................ 105-1 Restricted Programs and Activities Within the General Fund............. 105-4

SECTION 200 ACCOUNTING PROCESSES

Procedure 201

Books of Accounts

Revised March 2016............................................................................................................... 201-1

Chart of Accounts ................................................................................ 201-1 Double-Entry Accounting .................................................................... 201-1 Journals ................................................................................................ 201-2 General Ledger..................................................................................... 201-2 Subsidiary Ledgers............................................................................... 201-3 Control Accounts in the Chart of Accounts ......................................... 201-3 Computerized Systems......................................................................... 201-4

Procedure 205

The Accounting Cycle

Revised January 2019 ............................................................................................................ 205-1

Sequence of the Accounting Cycle ...................................................... 205-1 Source Documents ............................................................................... 205-2 Analyzing Transactions ....................................................................... 205-2 Recording Transactions in Journals ..................................................... 205-4 Posting to the Ledger ........................................................................... 205-4 Trial Balance and Adjustments ............................................................ 205-5 Financial Statements ............................................................................ 205-6 Closing the General Ledger ................................................................. 205-7

January 2019

iii

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