1988-1990-FISCAL AUDITS AND REPORT OF EXAMINATION - MASHPEE INDIAN MUSEUM

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TOWN OF MASHPEE, MASSACHUSETTS NOTES TO FINANCIAL STATEMENTS s` JUNE 30, 1989 NOTE A - SUMMARY OF ACCOUNTING POLICIES 1. The Reporting Entity_ Ez The Town, for financial purposes, includes all of the funds and account groups relevant to the operations of the Town of Mashpee. The financial statements presented herein do not include agencies which have been formed under applicable state laws or separate and distinct units of government apart from the Town of Mashpee. hose of separately u The financial statements of the Town include t i y ad- ministered organizations that are controlled by or dependent on the Town. Control or dependence is determined on the basis of budget adoption, taxing authority, funding and appointment of the respective governing board. Based on the following criteria, the accompanying financial statements do not include financial statements of any other organization. I L. Fund Accounting f The accounts of the Town are organized on the basis of funds and ac- count groups, each of which is considered a separate accounting en- tity. The operations of each fund are accounted for in a set of self- balancing accounts that comprise its assets, liabilities, fund equity, `. T revenues, expenditures or expenses and other financing sources and uses- Government resources are allocated to and for individual funds based upon the purpose for which they are to be spent and the means by which spending activities are controlled. The various funds and ac- count groups are grouped by fund categories and fund types as follows: n _ GOVERNMENTAL FUND TYPES General Fund Fr, The General Fund is the general operating fund of the Town. It is used for all financial resources except those required to be accounted for in another fund. f; r 14