Laserfiche WebLink
i <br /> �i <br /> TOWN OF MASHPEE, MASSACHUSETTS <br /> NOTES TO FINANCIAL STATEMENTS <br /> JUNE 30, 1986 <br /> Excess (deficit) of revenues and other sources of financial <br /> resources over expenditures and other uses of financial <br /> resources (budgetary basis) $714,720 <br /> Adjustments: <br /> June 30, 1984 continued appropriations not budgeted as <br /> expenditures for year ended June 30, 1985 ( 327,410) <br /> June 30, 1985 continued appropriations not budgeted as <br /> expenditures 152,326 <br /> June 30, 1984 encumbrances not budgeted as expenditures <br /> for year ended June 30, 1985 ( 14,714) <br /> June 30, 1985 encumbrances not budgeted as expenditures 63,184 <br /> Timing differences in recognizing expenditures ( 42,978) <br /> Adjustment of revenue to the modified accrual basis 25,185 <br /> Excess (deficit) of revenues and other sources of financial <br /> resources over expenditures and other uses of financial <br /> resources (GAAP basis) $570,313 <br /> 2. Departures From Generally Accepted Accounting Principles <br /> I <br /> The town prepares its financial statements on the basis of accounting <br /> practices prescribed by the Commonwealth of Massachusetts. These practices <br /> differ in many significant respects from G.A.A.P. <br /> During 1981, the Commonwealth of Massachusetts issued a revised uniform <br /> municipal accounting system entitled "U.M.A.S." The departures from G.A.A.P. <br /> i <br /> under this revised system have been significantly narrowed. The town plans to <br /> adopt the revised U.M.A.S. for its financial statement presentation in the near <br /> future. <br /> cial statement for this year ended in <br /> We have prepared the town's finan , <br /> conformity with generally accepted accounting principles. , . <br /> I <br />