State of Montana, Legislative Branch Excluding the Consumer Counsel Financial-Compliance Audit for the Two Fiscal Years Ended June 30 .. 2005
State of Montana, Legislative Branch Excluding the Consumer Counsel Financial-Compliance Audit for the Two Fiscal Years Ended June 30 .. 2005
Montana. Legislature. Legislative Audit Division
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Expenditures for valid obligations when the department incurs the related liability and it is measurable, with the exception of the cost of employees' annual and sick leave. State accounting policy requires the Legislative Branch to record the cost of employees' annual leave and sick leave when used or paid. Expenditures and expenses may include: entire budgeted service contracts even though the Legislative Branch receives the services in a subsequent fiscal year; goods ordered with a purchase ...order before fiscal year-end, but not received as of fiscal year-end; and equipment ordered with a purchase order before fiscal year-end. Financial Schedule Presentation The financial schedule format is in accordance with the policy of the Legislative Audit Committee. The financial schedules are prepared from the transactions posted to the Statewide Accounting, Budgeting and Human Resource System without adjustment. Accounts are organized in funds according to state law. The Legislative Branch uses the following funds: Governmental Funds : General Fund -used to account for all financial resources except those required to be accounted for in another fund.
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