State of Montana, Teachers' Retirement Division, Financial/compliance Audit for the Two Fiscal Years Ended June 30, .. 1990
The book State of Montana, Teachers' Retirement Division, Financial/compliance Audit for the Two Fiscal Years Ended June 30, .. 1990 was written by author Montana. Legislature. Office of the Legislative Auditor Here you can read free online of State of Montana, Teachers' Retirement Division, Financial/compliance Audit for the Two Fiscal Years Ended June 30, .. 1990 book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is State of Montana, Teachers' Retirement Division, Financial/compliance Audit for the Two Fiscal Years Ended June 30, .. 1990 a good or bad book?
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Accounts are organized on the basis of funds according to state law. The following funds are used by the division: Trust Funds - A trust fund is used to account for assets held by the division in a trustee capacity. The Pension Trust Fund is used to account for the Teachers' Retirement System. The Fullam Trust Fund is a teacher's estate bequest to the Teachers' Retirement System. This trust is recorded on SBAS in the Expendable Trust Fund. Because the Fullam Trust Fund was bequeathed to the Tea...chers' Retirement System, it is included in the Pension Trust Fund for financial reporting purposes. Basis of Accounting The Teachers' Retirement Division uses the accrual basis of accounting. Under the accrual basis of accounting, revenue is recorded when earned, and an expense is recorded when incurred. Expenses are incurred during an accounting period when a valid obligation exists except for the following items which are also considered valid obligations under state accounting policy. If the appropriation provided funds to complete a given project, the entire amount of a service contract may be accrued even though the services are rendered in fiscal years subsequent to the fiscal year in which the expense is accrued.
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