Accounting for Revenues and Expenditures

Primary responsibility of the accountant/auditor.

Accounting properly for financial transactions and reporting results of municipal financial operations is crucial part of local fiscal management. These resources serve as a reference for statutory requirements and best practices for accounting for municipal funds.

Who is involved with this process

• Role of the Accountant (Video)
  Role of the Accountant Slides (PDF)
• The Role and Responsibilities of an Accountant/Auditor
• The Role of the Finance Director

Annual audits

• Audit Firms (PDF)
• Municipal Audits: FAQs (PDF)
• Overview of Municipal Audits Webinar Recording (Video)
• Overview of Municipal Audits Webinar Slides (PDF)
• The Importance of Annual Municipal Audits

Revolving funds

• Departmental Revolving Funds (BUL2017-1B) (PDF)
• Revolving Fund Chart: School Department Revenue (PDF)
• Revolving Funds Chart: Non-School Department Revenue (PDF)
• Special Revolving Funds for Outside Consultant Fees (IGR2017-14)
• Special Revolving Funds for Performance Surety Deposits (IGR2017-16)

Enterprise funds

• Enterprise Fund manual
• Enterprise Funds
• Enterprise Funds: Overview and Best Practices (Video)
• Completing the Tax Rate Form A-2 for Enterprise FundsWebinar (Video)
  • Completing the Tax Rate Form A-2 for Enterprise Funds Presentation (PDF)

Debt & borrowing

• A Deeper Dive Into Municipal Debt - Accounting for debt and surplus proceeds/abandoned projects (Video)
• Premiums and Surplus Proceeds for Proposition 2½ Excluded Debt (IGR 2022-1)
• Proposition 2 ½ Ballot Questions – Requirement and Procedures (PDF)

Reserves

• Guidelines Related to Overlay and Overlay Surplus (IGR2017-23)
• IGR 2024-12 Stabilization Funds
• The Overlay Reserve Account: Allowances for Abatements and Exemptions (Video)

OPEB

• Other Post-Employment Benefits (OPEB) Liability Trust Frequently Asked Questions (FAQ) (PDF)

Other funds

• Guidelines: Municipal Finance Provisions of the Community Preservation Act (CPA) (IGR2019-14)
• 2024 Community Preservation Act Webinar (Video)
  2024 Community Preservation Act presentation slides (PDF)
• Insurance and Restitution Proceeds (LFO2018-2) (PDF)
• Money From Marijuana Establishments and Medical Marijuana Treatment Centers (LFO2018-3) (PDF)
• Proceeds from Rental of Municipal Real Estate (IGR2017-15)
• LFO 2022-3 Transportation Network Company Per-ride Assessment Distribution

DLS publications

• Emergency Expenditure Timeline (for emergencies not related to COVID-19) (PDF)
• Guidelines: Appropriation Transfers (IGR2017-13)
• Overview of Statutory Treatment of Municipal Funds (PDF)
• Reconciling Cash and Receivables
• Revenue and Appropriation Deficits
• Revenue Deficits: An Overview (PDF)
• Uniform Mass Accounting System (UMAS) manual (PDF)
• Year-End instructions from DLS to Accountants and Auditors (PDF)
• Year-End instructions from DLS to Collectors (PDF)