State of Montana, Teachers' Retirement Division, Financial/compliance Audit for the Two Fiscal Years Ended June 30, .. 1984

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,938 520, ,932 1.
,417, ,653 $38, 34, ,189; ,219 $45.
,921, ,108 ,419 43; ,353; ,154 32, ,348, ,217 I; ,642; 34, ,592 ,219 152; ,812 45, ,206 32, ,928 $45; ,075; ,171 $32; ,533; ,957 $ 845; ,937 $ 5; ,655; ,462 ELEMENTS OF NET INCREASE IN WORKING CAPITAL: Cash Accounts Receivable Interest Receivable Accounts Payable Accrued Expenditure Uncleared Collections (930,579) 1,047,437 1,145,887 (242,931) (173,877) 4,023,174 786,232 846,419 (7,313) (9,390) 16,340 NET INCREASE IN WORKING CAPITAL $ 845,93
...7 $ 5,655,462 The footnotes to the financial statements are an integral part of this statement.
13 TEACHERS' RETIREMENT DIVISION NOTES TO THE FINANCIAL STATEMENTS FISCAL YEAR ENDED JUNE 30, 1984 NOTE A. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting The Teachers' Retirement System maintains its accounts on the full accrual basis of accounting.
Valuation of Investments Short-term investments and state securities are stated at cost. Federal and corporate securities are stated at book value increased by the amount of unamortized premiums ($121,764 in fiscal year 1984) and decreased by unamortized discounts ($16,158,623 in fiscal year 1984) .


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