Treatment of Budget and Other Adjustments
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