N.Y. Comp. Codes R. & Regs. tit. 9 § 1642-3.7
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.
N.Y. Comp. Codes R. & Regs. Tit. 9 § 1642-3.7