State of Montana, Office of the Commissioner of Higher Education And Board of Regents of Higher Education Report On the Examination of Financial Statements 1979

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Grant compensatory time only to qualified employees as defined in state law and the Montana Operations Manual.
B. Prepare biweekly summaries of time worked and leave taken to document after-the-fact payroll.
C. Calculate annual vacation and sick leave credits each pay period in accordance with the MOM.
CASH RESTATEMENT Cash transactions processed during the fiscal year-end adjustment period should be reviewed and appropriately restored for full financial statement disclosure.
During the fiscal
...year-end 1978-79 adjustment period, July 2 to July 19, state agencies continued to pay fiscal year 1978-79 claims. This reduced their 18 June 30 cash balance. To reflect the actual June 30 cash balance for financial statement purposes, the Department of Administration restated certain cash amounts paid during the adjustment period. Accounts payable were established for a corresponding amount.
The amount restated included only transfer warrant claims and the payroll no-warrant transfer issued during the fiscal year-end adjustment period.


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