Title 14, Local Government

(a) (1) All funds received are to be formally receipted at the time of collection or the earliest opportunity by the use of prenumbered receipts or mechanical receipting devices.(2) However, the use of prenumbered receipts shall not be required for receipting revenues derived fro…

(a) All disbursements of water and sewer department funds, except those described in this section and as noted in § 14-237-107, are to be made by prenumbered checks drawn upon the bank account of that department. (b) An electronic funds transfer may be used for payment of debts p…

(a) Municipal water and sewer departments are permitted to establish petty cash funds, so long as the funds are maintained as set forth in this section. The establishment of a petty cash fund must be approved by the department's governing body. (b) (1) In establishing a petty cas…

(a) (1) Each water and sewer department's governing body shall adopt a policy defining fixed assets.(2) At a minimum, the policy shall set forth the dollar amount and useful life necessary to qualify as a fixed asset. (1) Each water and sewer department's governing body shall ado…

(a) Water and sewer departments shall establish a cash receipts journal or an electronic receipts listing, which shall indicate the:(1) Receipt number;(2) Date of the receipt;(3) Payor;(4) Amount of the receipt; and(5) Classification or general ledger account. (1) Receipt number;…

(a) Water and sewer departments shall establish a cash disbursements journal or electronic check register which shall indicate the date, payee, check number or transaction number, amount of each check written or transaction, and classification or general ledger account. (b) The c…

(a) (1) All water and sewer departments shall reconcile on a monthly basis their cash receipts and disbursements journals to the amount on deposit in banks.(2) This reconciliation shall be approved by an official or employee, other than the person preparing the reconciliation, as…

(a) Accounting records can basically be divided into three (3) groups:(1) (A) Support documents. Support documents consist primarily of the following items:(i) Canceled checks;(ii) Invoices;(iii) Bank statements;(iv) Receipts;(v) Deposit slips;(vi) Bank reconciliations;(vii) Chec…

(a) (1) The governing body of each municipal water or sewer department shall cause to be published annually a financial statement of the department, including receipts and expenditures for the period and a statement of the indebtedness and financial condition of the department. T…