Title: Modified Accrual Basis
Accounting Policies: Modified Accrual Basis
De Minimis Rate Used: N
Rate Explanation: Actual Cost
Modified Accrual Basis is used and accepted by governmental agencies.
There is inadequate control over the functions of cash receipts, cash disbursements,, and processing and recording payroll at the Village due to the inadequate segregation of duties stemming from limited personnel.
There is inadequate control over the functions of cash receipts, cash disbursements,, and processing and recording payroll at the Village due to the inadequate segregation of duties stemming from limited personnel.