tailieunhanh - NISHIHAMA & KISHIDA, CPAs, INC. CERTIFIED PUBLIC ACCOUNTANTS FINANCIAL AUDIT OF THE DEPARTMENT OF EDUCATION STATE OF HAWAII Fiscal Year Ended June 30, 2005_part4

Dự toán thu được cung cấp cho cơ quan lập pháp nhà nước tại thời điểm xem xét ngân sách và được sửa đổi và cập nhật định kỳ trong năm tài chính. Các khoản phản ánh khoản thu ngân sách và chi tiêu ngân sách trong lịch trình so sánh ngân sách của các quỹ doanh thu nói chung và đặc biệt có nguồn gốc chủ yếu từ các hành vi của cơ quan lập pháp nhà nước và từ các ủy quyền khác có hành vi chiếm đoạt cụ thể trong Luật kỳ họp khác nhau của Hawaii. | Department of Education State of Hawaii NOTES TO THE BASIC FINANCIAL STATEMENTS June 30 2005 NOTE c - BUDGETING AND BUDGETARY CONTROL Revenue estimates are provided to the state Legislature at the time of budget consideration and are revised and updated periodically during the fiscal year. Amounts reflected as budgeted revenues and budgeted expenditures in the budgetary comparison schedules of the general and special revenue funds are derived primarily from acts of the state Legislature and from other authorizations contained in other specific appropriation acts in various Session Laws of Hawaii. To the extent not expended or encumbered general fund appropriations generally lapse at the end of the fiscal year for which the appropriations were made. The state Legislature specifies the lapse date and any other particular conditions relating to terminating the authorization for other appropriations such as those related to the special revenue funds. Section of the Hawaii Revised Statutes allows the DOE to carryover up to five percent each of any appropriation at the end of the fiscal year except for appropriations to fund certain financing agreements. These carryover funds to the extent not expended or encumbered lapse at June 30 of the first fiscal year of the next fiscal biennium. As of June 30 2005 general funds carried over amounted to approximately 30 800 000. For purposes of budgeting the DOE s budgetary fund structure and accounting principles differ from those utilized to present the fund financial statements in conformity with accounting principles generally accepted in the United States of America GAAP . The DOE s annual budget is prepared on the modified accrual basis of accounting with several differences principally related to 1 the encumbrance of purchase orders and contract obligations 2 the recognition of certain receivables and 3 special revenue funds operating grant accruals and deferrals. These differences represent a departure from GAAP. .