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TOWN OF MASHPEE, MASSACHUSETTS <br /> NOTES TO FINANCIAL STATEMENTS <br /> JUNE 30, 1990 <br /> NOTE 1 - SUMMARY OF ACCOUNTING POLICIES <br /> t,ti <br /> A. The Reporting Entity <br /> The Town, for financial purposes, includes all of the funds and <br /> account groups relevant to the operations of the Town of Mashpee. The <br /> financial statements presented herein do not include agencies which <br /> have been formed under applicable state laws or separate and distinct <br /> units of government apart from the Town of Mashpee. <br /> The financial statements of the Town include those of separately ad- <br /> ministered organizations that are controlled by or dependent on the <br /> Town. Control or dependence is determined on the basis of budget <br /> adoption, taxing authority, funding and appointment of the respective <br /> governing board. <br /> Based ori the following criteria, the accompanying financial statements <br /> do riot include financial statements of any other organization. <br /> B. Fund Accounting <br /> The accounts of the Town are organized on the basis of funds and ac- <br /> count groups, each of which is considered a separate accounting en- <br /> City. The operations of each fund are accounted for in a set of self- <br /> balancing accounts that comprise its assets, liabilities, fund equity, <br /> revenues, expenditures or expenses and other financing sources and <br /> uses. Government resources are allocated to and for individual funds <br /> based upon the purpose for which they are to be spent and the means by <br /> Which spending activities are controlled. The various funds and ac- <br /> count groups are grouped by fund categories and fund types as follows: <br /> GOVERNMENTAL FUND TYPES <br /> General Fund <br /> <t''V <br /> The General Fund is the general operating fund of the <br /> Town. It is used for all financial resources except those `. <br /> required to be accounted for in another fund. '} <br /> :% <br /> 10 <br />