Advisory Council for Vocational Education : Report On Examination of Financial Statements .. 1983

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The Statewide Cost Allocation Plans (SWCAP) for fiscal years 1981-82 and 1982-83 identify Advisory Council for Vocational Educa- tion indirect costs of $1,041 and $1,005, respectively, for services rendered by other state agencies.
The total SWCAP costs are applicable to the administration of the council's federal grant. Reimbursements received by the agencies for SWCAP costs are to be deposited in the state General Fund. As of October 1983 the council has not deposited any money to the state G
...eneral Fund for SWCAP costs.
RECOIVIIVIENDATION #2 WE RECOMMEND THE COUNCIL CHARGE THE SWCAP INDIRECT COSTS OF ITS FEDERALLY SUPPORTED PROGRAM AND DEPOSIT THE REIMBURSEMENTS INTO THE STATE GENERAL FUND.
REVENUE RECOGNITION The Advisory Council for Vocational Education accounting records reflect a fund balance at June 30, 1982 and 1983 in the Special Revenue Fund. A balance should not exist at the end of the state fiscal year.
Federal moneys are received on a quarterly advance basis.
The council records revenue on the Statewide Budgeting and Accounting System (SBAS) when the funds are received from the federal government.


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