Treatment of Budget and Other Adjustments

Posted on 11 November 2015 in

Budget adjustments will need to be recognised separately. All cash receivable or deducted for budget adjustments notified after 1 April will need to be journalised.

Check that the amounts on codes “9050-9059” agree with the statement provided by the County Treasurer.

The following are not budget adjustments and should be treated as follows:

  • Mutual fund reimbursements
  • External debtor
  • DEBS.