Section Rev 1702.04 - Use of Modified Accrual Basis of Accounting(a) Municipalities shall use the modified accrual basis of accounting for all: (2) Transfers to and expenditures from capital reserve funds and expendable trust funds; and(b) Under the modified accrual basis, transactions shall be classified by fund and for: (1) Revenues recognized in the accounting period in which they become available and measurable; and(2) Expenditures, rather than expenses, recognized in the accounting period in which the fund liability is incurred, if measurable, except for unmatured interest on general long term debt.(c) Municipalities shall, for purposes of filing Report MS-535, "Financial Report of the Budget," use the modified accrual basis for all:(2) Transfers to and expenditures from capital reserve funds and expendable trust funds; and(d) Under the modified accrual basis, transactions shall be classified by fund and for: (1) Revenue by revenue source;(2) Expenditure by function; and(3) Balance sheet by balance sheet account.N.H. Admin. Code § Rev 1702.04
#8179, eff 9-24-04 (from Rev 1702.03 ); ss by #10214, eff 10-24-12
Amended by Volume XLII Number 49, Filed December 8, 2022, Proposed by #13489, Effective 11/15/2022, Expires 11/15/2032 (see Revision Note at chapter heading for Rev 1700)