ACCOUNT NUMBER 1130, REVOLVING FUND CASH - 10402
Normal Balance: Debit
Purpose: This account shows the amount of funds advanced from the State Treasury for revolving fund purposes (see SAM Chapter 8100). Except for year-end reporting purposes, an agency revolving fund operates on an impress basis. The account balance at all times, except at year-end, equals (1) revolving fund cash on hand and in the centralized treasury system general checking account plus (2) the amount of the Revolving Fund Receivables Ledger balance. If the advance is made from a fiscal year appropriation, the amount of the fund is returned to the State Treasury at the close of the fiscal year or the State Controller's Office is requested to journalize the amount as a return to the appropriation from which it was advanced and as a withdrawal from the subsequent fiscal year appropriation. At the end of the fiscal year, the impress amount of change and cash purchase funds and the amount of undeposited receipts is reported in Account Number 1190, Cash on Hand.
Subsidiaries: Revolving Fund Cash Book and Revolving Fund Receivables Ledger
Normal Entries:
|
Entry Number |
Debits |
Entry Number |
Credits |
|
1. |
Claim for revolving fund advance is filed with the State Controller’s Office. |
|
(The physical return of a revolving fund, or any portion of it, would be included in Entry Number 10, Remittance of cash to the State Treasury.) |
|
A-2 |
Is reversed as of July 1 to re-establish the revolving fund on an imprest basis |
A-2 |
Revolving fund account balance is reduced to actual cash balance in fund as of June 30. |
Revisions
No Revisions for this item.