44xx Restricted federal revenues received by the district through the state. (Ex: Title III, Title I, SPED, Child Nutrition, Vocational, Title II) These are received for specific purposes and must be accounted for in a special revenue fund. Functions 4480-4499 are available for revenues that are restricted in use and are received through the state and have not been assigned a specific code. 45xx Federal revenues received in lieu of taxes that are not restricted in use and can be recorded in the general fund. (Ex: National Forest) 4900 Revenue for/on behalf of the LEA SIXTEENTH SECTION SOURCES: These revenues are generated from the use of sixteenth section lands. They will be recorded in either the sixteenth section principal fund or the sixteenth section interest fund. The origin of the revenue will determine which fund. If the revenue is received from the sale of timber or timber products, 15% of that sale must go to the forestry escrow fund. If the revenues are from renewable resources, they would be recorded in the sixteenth section interest fund. If the revenue is non-renewable, the receipt is to the sixteenth section principal fund. Sixteenth source functions always begin with the number FIVE (5). They are designated as follows: 51xx Rents and Leases 52xx Sale of Timber and timber products 53xx Sale of other assets, it will be important to distinguish renewable from non-renewable 5400 Pro rata revenue from other districts 5500 Permanent damages to trust lands 56xx Earnings on sixteenth section lands 5700 Cost sharing Payment 5900 Other sixteenth section revenues OTHER FINANCING SOURCES: Revenues received from a source that is not designated as local, state, federal, or sixteenth section should be recorded using the following assigned functions. These sources, depending on origin, could be recorded in general funds, debt service funds or possibly other funds. Other financing source functions always begin with the number SIX (6). They are designated as follows: 6100-
44xx Restricted federal revenues received by the district through the state. (Ex: Title III, Title I, SPED, Child Nutrition, Vocational, Title II) These are received for specific purposes and must be accounted for in a special revenue fund. Functions 4480-4499 are available for revenues that are restricted in use and are received through the state and have not been assigned a specific code. 45xx Federal revenues received in lieu of taxes that are not restricted in use and can be recorded in the general fund. (Ex: National Forest) 4900 Revenue for/on behalf of the LEA SIXTEENTH SECTION SOURCES: These revenues are generated from the use of sixteenth section lands. They will be recorded in either the sixteenth section principal fund or the sixteenth section interest fund. The origin of the revenue will determine which fund. If the revenue is received from the sale of timber or timber products, 15% of that sale must go to the forestry escrow fund. If the revenues are from renewable resources, they would be recorded in the sixteenth section interest fund. If the revenue is non-renewable, the receipt is to the sixteenth section principal fund. Sixteenth source functions always begin with the number FIVE (5). They are designated as follows: 51xx Rents and Leases 52xx Sale of Timber and timber products 53xx Sale of other assets, it will be important to distinguish renewable from non-renewable 5400 Pro rata revenue from other districts 5500 Permanent damages to trust lands 56xx Earnings on sixteenth section lands 5700 Cost sharing Payment 5900 Other sixteenth section revenues OTHER FINANCING SOURCES: Revenues received from a source that is not designated as local, state, federal, or sixteenth section should be recorded using the following assigned functions. These sources, depending on origin, could be recorded in general funds, debt service funds or possibly other funds. Other financing source functions always begin with the number SIX (6). They are designated as follows: 6100-
Basic_Account_Code.docx