ESTABLISHMENT OF FUND LEDGER - 8813

(Revised: 02/1998)

As of July 1 each year the State Controller’s Office establishes a new ledger account for each appropriation and category included in the Budget Act. Based upon the Governor's Budget, control and subsidiary accounts are established for estimated revenues (or operating revenues), and fixed charges. The major sources of revenue estimates are adjusted during the year for any revised estimates contained in the subsequent year's Governor's Budget. Ledger cards also are prepared for the June 30 balances of all accounts in the prior year's ledger. The account balances forwarded are transferred on a cash basis and do not reflect any of the year-end accruals.