California Government Code

§ 13302

GOV § 13302 Effective Jul 2, 2024Div. 3 · Title 2 · Part 3 · Ch. 3 · Art. 1

Statute text

The accounting system devised as provided in Section 13300 shall provide, with respect to the General Fund and other governmental funds, for all of the following:

(a)The accrual of expenditures as of the end of each fiscal year on the basis of payables incurred, excluding accrued interest on general obligation bonded indebtedness.

(b)(1) The accrual of revenues at the end of the fiscal year if the underlying transaction has occurred as of the last day of the fiscal year, the amount is measurable, and the actual collection will occur either during the current period or after the end of the current period but in time to pay current yearend liabilities.

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Legislative history

Amended by Stats. 2024, Ch. 52, Sec. 7. (AB 171) Effective July 2, 2024.