SECTION 379.1701. Accounting System Requirements

A center must maintain an accounting system and records that:

(1) records revenue and expenditures using generally accepted accounting principles;

(2) includes a chart of accounts that lists all accounts by an assigned number;

(3) contains a general ledger and subsidiary ledgers;

(4) maintains supporting documentation for all revenue and expenditures, including, but not limited to:

(A) receipts or vouchers for revenue;

(B) bank statements reconciled to the general ledger bank accounts;

(C) canceled checks;

(D) deposit slips;

(E) approved invoices;

(F) receipts;

(G) leases;

(H) contracts;

(I) time sheets;

(J) inventory; and

(K) cost allocation worksheets;

(5) identifies all funding sources and expenditures by separate fund type; and

(6) uses a double-entry accounting system, either cash, accrual, or modified accrual.

Source Note: The provisions of this §379.1701 adopted to be effective December 23, 2007, 32 TexReg 9335; amended to be effective September 1, 2013, 38 TexReg 4309