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Finance director briefs College Place council on budgeting and cash-basis accounting
Summary
Finance Director Brian Carlton presented 'Government Finance 101' to the council, explaining College Place's cash-basis accounting, its 33 fund structure, reserve targets (e.g., 17% current-expense fund target), reporting cadence and the upcoming audit and budget calendar.
Finance Director Brian Carlton gave a concise "Government Finance 101" presentation to the City of College Place council on Feb. 24, explaining how the city records transactions and how budgets and reserves are managed.
Carlton said the city operates on a cash-basis accounting system: "Cash basis is what the City of College Place operates under," meaning revenues and expenditures are recorded when cash is received or dispersed rather than on an accrual basis. He noted the city therefore does not produce the same government-wide…
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