Section 13302 Of Article 1. General From California Government Code >> Division 3. >> Title 2. >> Part 3. >> Chapter 3. >> Article 1.
13302
. The accounting system devised as provided in Section 13300
shall provide, with respect to the General Fund and other
governmental funds, for all of the following:
(a) The accrual of expenditures as of the end of each fiscal year
on the basis of payables incurred, excluding accrued interest on
general obligation bonded indebtedness.
(b) (1) The accrual of revenues at the end of the fiscal year if
the underlying transaction has occurred as of the last day of the
fiscal year, the amount is measurable, and the actual collection will
occur either during the current period or after the end of the
current period but in time to pay current yearend liabilities.
(2) Cash in agency trust accounts within the centralized State
Treasury system that is in transit to the State Treasury, accrued
interest receivable, and accounts receivable shall be accrued as of
the end of each fiscal year.
(c) For the purposes of financial reporting, both of the following
shall apply:
(1) A payable exists when goods or services have been delivered
and the state is required to pay for those goods or services, and an
encumbrance exists when a valid obligation against an appropriation
has been created.
(2) All funds appropriated shall be identified as either expended,
payable, encumbered (exclusive of payables), or unencumbered, as
further defined by the California Fiscal Advisory Board, and the
total of these shall equal the total appropriation.
(d) (1) Notwithstanding any other law, and except as provided in
paragraph (2), payments to employees made through the Uniform State
Payroll System as described in Section 12472.5 with an issue date
each year of July 1 shall be considered payables incurred in the
fiscal year in which the payment is issue dated.
(2) Notwithstanding paragraph (1), for purposes of calculating
maintenance of effort expenditures under Section 8 of Article XVI of
the California Constitution, or for purposes of calculating funds
used by a program during the fiscal year, payments made on July 1 may
be counted towards the prior fiscal year.