Department of Public Service Regulation Financial-Compliance Audit Report for the Two Fiscal Years Ended June 30 .. 1984

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When it was input, an account receivable was established, however, fund balance was charged instead of a prior year revenue adjustment. Therefore, the receivable from the federal government and revenue were understated in the Special Revenue Fund at fiscal year-end 1983-84 by $36,236.
When $15,037 of the grant was received in fiscal year 1984-85, it was recorded as fiscal year 1984-85 revenue instead of being offset against the receivable. This overstates current year grant revenue and receivab
...les in fiscal year 1984-85 by $15,037.
The department should correct this error on its accounting records before fiscal year-end 1984-85.
Gas Pipeline Safety Grant The department did not accrue $3,218 of expenditures on SBAS at fiscal year-end 1983-84 for the Gas Pipeline Safety grant.
The expenditures were for contracted services and other operating expenses which were valid obligations at fiscal year-end. This understated expenditures and liabilities by $3,218 in the Special Revenue Fund in fiscal year 1983-84.


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