905 ACCOUNTING

905.1 The accounting system for the SASP, consisting of a double-entry system, shall be maintained by the Accounting Division, Department of Administrative Services. It shall include a chart of accounts, a general ledger with accounts for all assets, liabilities, income and expenses, and journals for the original record of transactions.

905.2 The accounting system for the SASP shall identify and separately account for funds accumulated from service charges which are recorded from the Property Receipts forwarded by SASP each month. The Accounting Division shall maintain the documents by donee. The SASP shall maintain the documents by numerical voucher- order sequence on a monthly basis.

905.3 The Accounting Division shall utilize the District of Columbia's Financial Management System for recording its receipts and expense transactions. This System furnishes budgetary information and fund accounting on a double-entry cash basis.

905.4 Accounts receivable shall be recorded at the fund level, but shall not be recognized as revenue in the accounts until collected. The Accounting System shall allow for recording encumbrances, if necessary, and shall be available for inspection by authorized representatives following due notice.

905.5 At the end of each quarter, Administrative Services Accounting shall prepare for the Equipment Management Division a set of statements to include a Statement of Operations, a Balance Sheet, and an aged schedule of accounts receivable. These statements shall be prepared on the accrual basis of accounting.

SOURCE: Final Rulemaking incorporating 24 DCR 1705, 1712 (May 13, 1983).