04-a-005 - Revenue Sub-object Code for ADB Interest (July 9, 2003)
|INFORMATIONAL CIRCULAR NO. 04-A-005|
|DATE:||July 8, 2003|
|SUBJECT:||Revenue Sub-object Code for ADB Interest|
|EFFECTIVE DATE:||July 1, 2003|
|A & R CONTACT:||Brett Bauer||(785) 296-4903||(email@example.com)|
|SUMMARY:||Establishment of an additional revenue sub-object code to further segregate Average Daily Balance earned versus transferred.|
In an effort to provide a further breakdown of ADB interest earned by a fund versus ADB interest transferred in, the following revenue sub-object code is being established effective July 1, 2003:
|3015||Average Daily Balance Interest Earnings (Director of Accounts and Reports Only)|
Currently, the initial transfer of ADB interest earnings from the State General Fund to those accounts that are required to receive ADB interest is recorded as revenue sub-object 6608, Operating Transfers Out - Interest Allocation and revenue sub-object 6607, Operating Transfers In - Interest Allocation. A secondary transfer of ADB interest to a single budget unit within a fund is also recorded with revenue sub-objects 6608 and 6607. This new revenue sub-object code will be used instead of 6608 and 6607 to record the initial transfer of ADB interest earnings from the State General Fund. The secondary transfer that moves ADB interest between budget units will remain the same.
This change will be reflected in the Uniform Receipt Classification Revenue Sub-object Codes filing (PPM No. 6,002) on the Division of Accounts and Reports website http://www.da.ks.gov/ar/ppm/.