The Audit Program - Fund 10 (General Fund)

Date Issued 5/02 SECTION II – SPECIFIC COMPLIANCE SCHOOL DISTRICT BOOKKEEPING The State Board of Education has, in accordance with law, prescribed a uniform double-entry system of bookkeeping for use in all school districts and is authorized to compel its use. (N.J.S.A. 18A:4-14 and N.J.A.C. 6A:23-2.1) Separate accounts must be maintained for the funds and account groups. The following is a listing of those funds and groups, and the crosswalk to the GASB 34 Model: Pre-GASB 34 Districts GASB 34 Districts Governmental funds Governmental funds Fund 10 (General fund) Fund 10 (General fund) 20 (Special revenue fund) 20 (Special revenue fund) Fund 30 (Capital projects fund) Fund 30 (Capital projects fund) 40 (Debt service fund) 40 (Debt service fund) N/A Fund 60 (Permanent fund) See Note-1 Proprietary funds Proprietary funds Fund 50 Fund 50 Enterprise fund Enterprise fund Internal service fund Internal service fund Fiduciary funds Fiduciary funds Fund 60 (Trust and agency funds) Fund 60 (Private purpose trust and See Note -2 (expendable & non-expendable agency funds) trusts) Fund 70 (Student activity funds) Fund 70 (Student activity funds) Account Groups Fund 80 (General fixed assets Maintained for record keeping account group – GFAAG) purposes; balances incorporated into the accrual statements (A-series) Fund 90 (General long-term debt Maintained for record keeping account group - GLTDAG) ...