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Ocean Shores to Recode Accounts, Eliminate Fund 439 in Monthlong ledger cleanup
Summary
City finance staff outlined a plan to correct how cost allocations are recorded, create new coding, archive unused accounts and reflect changes in the August financial statements without changing the city's net budget.
Ocean Shores finance staff told the Finance Committee on July 30 that they will recode cost allocation entries, archive unused ledger accounts including Fund 439, and correct prior transfers so August financials show the revised presentation.
The committee heard that the city will create new cost-allocation codes, undo incorrect transfers booked for 2025 and then start a new coding process intended to align the budget presentation with proper accounting and the city's audited financial reporting. Tara Dunford, the city's certified public accountant, said the work should be completed in August and will not change the city's net budget.
"So our next steps in the process are to create the new codes for cost allocation, undo the prior transfers that have been booked for 2025, and…
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