1999 Minnesota Statutes

     123B.76 Expenditures; reporting. 

    Subdivision 1.    Recognition.  District expenditures 
 must be recognized and reported on the district books of account 
 in accordance with this section. 

    Fiscal year-end recognition of expenditures and the related 
 offsetting liabilities must be recorded in each fund in 
 accordance with the uniform financial accounting and reporting 
 standards for Minnesota school districts.  Encumbrances 
 outstanding at the end of the fiscal year do not constitute 
 expenditures or liabilities.  

    Deviations from the principles set forth in this 
 subdivision must be evaluated and explained in footnotes to 
 audited financial statements. 

    Subd. 2.    Accounting.  Expenditures for any legal 
 purpose of the district not accounted for elsewhere must be 
 accounted for in the general fund. 

    HIST: 1976 c 271 s 29; 1980 c 609 art 7 s 4; 1981 c 358 art 7 
 s 8,9; 1993 c 224 art 12 s 12; 1996 c 412 art 1 s 2; 1998 c 397 
 art 6 s 17,124