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PDFWAC 392-123-047

Definitions—Revenue, accrual basis expenditures, cash basis expenditures, appropriation, and disbursements.

As used in this chapter, the term:
(1) "Revenue" shall mean an addition to assets of a fund of a school district or charter school during a fiscal period that is available to finance the funds' expenditures during the fiscal period. Revenue does not accompany the increase of liabilities or represent refunds of previous disbursements. Revenue may be in the form of cash, or in the form of noncash assets such as donated commodities. Revenue for accrual basis expenditure funds is limited to amounts received in cash or noncash donations, plus or minus adjustments for revenue accruals.
(2) "Cash basis revenue" shall mean the actual receipt of revenue not adjusted for revenue accruals.
(3) "Revenue accruals" shall mean those revenues which are (a) anticipated to be received in cash after the close of the fiscal period and (b) represent reimbursement for expenditures incurred by the end of the fiscal period. In order for revenue to be included in revenue accruals, it must meet the above tests.
Revenue accruals, if they meet both tests include: Reimbursements on categorical grants for which expenditures have been made but payment has not been received; payments from other school districts that are due, but are not collected by the end of the fiscal period; deferrals of apportionment payments by the state when a deferral occurs because of district request or state mandate, and the revenue is due to the district; and rental or lease payments that are currently due, and there is reasonable assurance of payment.
Revenue that cannot be accrued because it does not meet the above tests includes: Collection of excess levies not expected to be received until after the end of the fiscal period and PL 874 funds that are to be received in cash in the following fiscal period, i.e. the twenty-five percent payment that is received after the end of the fiscal period.
(4) "Expenditures" shall mean the decrease in assets with no corresponding decrease in liabilities, or the increase in liabilities with no corresponding increase in assets. Expenditures for activities prior to September 1, but within the school year as defined in WAC 392-121-031, are considered expenditures of the school year commencing September 1.
(5) "Expenditure refunds" shall mean the increase in assets with a corresponding decrease in expenditures.
(6) "Revenue refunds" shall mean the increase in liabilities with a corresponding decrease in revenues.
(7) "Liabilities" shall mean debt or other legal obligations arising out of transactions in the past which are payable but not necessarily due.
(8) "Accrual basis expenditures" shall mean expenditures incurred during a given fiscal period, whether paid or unpaid.
(9) "Cash basis expenditures" shall mean the disbursement of cash for expenditures during a given fiscal period regardless of when liabilities are incurred, and the disbursement of inventory.
(10) "Appropriation" shall mean the maximum authorization during a given fiscal period to incur expenditures.
(11) "Disbursements" shall mean payments in cash, including the issuance of warrants, and the disbursement of inventory.
[Statutory Authority: RCW 28A.150.290 and 28A.710.220. WSR 15-18-078, § 392-123-047, filed 8/28/15, effective 9/28/15. Statutory Authority: RCW 28A.150.290(2) and 1999 c 309 § 503(7). WSR 99-20-021 (Order 98-07), § 392-123-047, filed 9/28/99, effective 9/29/99. Statutory Authority: RCW 28A.41.170, 28A.65.465 and 28A.41.055. WSR 85-15-110 (Order 85-3), § 392-123-047, filed 7/24/85. Statutory Authority: RCW 28A.65.465. WSR 83-21-027 (Order 83-12), § 392-123-047, filed 10/10/83; WSR 82-19-048 (Order 82-13), § 392-123-047, filed 9/14/82.]
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