Ohio Admin. Code 3358:14-9-10 - Financial policies
(A)
Northwest state
community college maintains financial policies and procedures based on an
economic resource measurement focus and an accrual basis of
accounting.
(B)
Under the accrual basis, revenues are recognized when
earned, and expenses are recorded when an obligation has been
incurred.
(C)
Grants and similar items are recognized as revenue as
soon as all eligibility requirements imposed by the provider have been
met.
Notes
Promulgated Under: 111.15
Statutory Authority: 3358
Rule Amplifies: 3358
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