YEAR-END ACCRUALS - 8860

(Revised: 03/1987)

Agencies prepare Reports of Accruals to Controller's Accounts only with respect to Governmental Fund and Bond Fund activities. Upon receipt of such accrual reports, the State Controller's Office reviews them and, if any discrepancies are disclosed, contacts the applicable agencies to reconcile the difference. Based on the agency accrual reports, the State Controller's Office records all current assets, current liabilities, and deferred credits accounted by the agencies but not recorded previously by the State Controller's Office and applies these amounts to its revenue, appropriation, and fixed charge accounts.