Section Rev 2206.01 - Assets Probable future economic benefits obtained or controlled by a county as a result of past transactions or events shall be classified into the following accounts:
(a) Account 1010, cash and equivalents, classification shall be for: (2) Checks, money orders, or banker's drafts on hand;(3) Demand deposits with financial institutions; or(4) Investments readily convertible to known amounts of cash and that will mature within 3 months of acquisition;(b) Account 1030, investments, classification shall be for securities that provide revenues in the form of interest and dividends;(c) Account 1080, property taxes receivable for unincorporated places, classification shall be for the uncollected portion of taxes the county has levied on behalf of the unincorporated places;(d) Account 1081, municipal assessments receivable, classification shall be for municipal assessments not yet received by the county;(e) Account 1110, tax liens receivable for unincorporated places, classification shall be for legal claims against property by the county, on behalf of the unincorporated places, that have been exercised because of nonpayment of delinquent taxes, interest and penalties, plus the costs of converting delinquent taxes into tax liens;(f) Account 1150, accounts receivable, classification shall: (1) Be for amounts owed to the county on open accounts from private individuals or organizations for goods and services furnished by a government; and(2) Not include amounts due from other funds or other governments;(g) Account 1260, due from other governments, classification shall be for amounts owed to the county from another government representing charges for: (3) Intergovernmental grants, entitlements or shared revenues;(h) Account 1310, due from other funds, classification shall be for amounts owed to one county fund from another county fund representing: (1) Charges for goods and services; and(2) Interfund advances to another county fund;(i) Account 1400, other current assets, shall be for assets not included elsewhere, whose economic benefit shall be converted to cash or used to meet a current liability within one accounting cycle;(j) Account 1410, inventory, classification shall be for material and supplies on hand for future consumption;(k) Account 1430, prepaid items, classification shall be for charges entered in the accounts for benefits not yet received;(l) Account 1610, land and improvements, classification shall be for: (2) All improvements made to ready the land for use, net of any applicable depreciation;(m) Account 1620, buildings, classification shall be for the cost, net of any applicable depreciation, of: (2) All expenditures related to construction of buildings;(3) Improvements made to extend the life of the structure; and(4) The capitalized costs of leased property if the lease meets the criteria specified in FASB statements and interpretations;(n) Account 1640, machinery, vehicles and equipment, classification shall be for: (1) Machinery, vehicles and equipment acquired;(2) All expenditures for the construction of machinery and equipment; and(3) The capitalized costs of leased machinery, vehicles and equipment if the lease meets the criteria specified in FASB statements and interpretations;(o) Account 1650, construction in progress, classification shall be for the cost of construction undertaken but not yet completed;(p) Account 1690, accumulated depreciation, classification shall be for the accumulation of periodic credits made to record the expiration of estimated service life of tangible asset used by funds maintained on the accrual basis of accounting; and(q) Account 1700, other assets, classification shall be for intangible assets and other assets, not otherwise classified in (a) through (p) above, whose economic benefit shall be converted to cash or used to meet liabilities at some future time beyond the next accounting cycle.N.H. Admin. Code § Rev 2206.01
#5455, eff 8-28-92; ss by #6808, eff 7-21-98; ss by #8687, eff 7-21-06
Amended byVolume XXXIV Number 33, Filed August 14, 2014, Proposed by #10652, Effective 8/8/2014, Expires8/8/2024.