Department of Livestock Financial-Compliance Audit for the Two Fiscal Years Ended .. 2000

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2. Recording a transfer-in in the Special Revenue Fund for the funds transferred from the Expendable Trust Fund.
Department personnel noted they attempted to record the activity in accordance with state accounting policy but were not completely successful.
Recommendation #5 We recommend the department record Gnancial activity related to the sale of stray livestock in accordance with state accounting policy.
Page 12 Findings and Recommendations Accounting Issues Section 17-1-102(4), MCA, require
...s state agencies to input all necessary transactions to the accounting system before the end of the fiscal year in order to present the receipt, use, and disposition of resources in accordance with generally accepted accounting principles. State accounting policy provides guidance on how to record activity in accordance with this state law. Accounting for financial activity in accordance with these requirements improves the quality, consistency, and comparability of the resulting financial information among state agencies.

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