Recording Allotments and Reversions
Journal Voucher Entries
Quarterly allotments and reversions are recorded in the North Carolina Accounting System using the journal entry screens in the Budgetary Control (BC) module.
General government agencies are allotted portions of their authorized budget on a quarterly basis. At the end of each quarter, any remaining allotment that has not been spent must be reverted.
Allotments
The following accounting rules record allotment and reversion entries.
- AL Cash in allotment account
- EL Allotted expenditures
- RL Allotted receipts
The following accounts are used to record a quarterly allotment entry where X represents the quarter to which the transaction relates.
Account |
Credit |
Rule |
Account |
|
---|---|---|---|---|
111270 | DR | AL | 111270(DR) 439100(CR) |
Cash in allotment account State Appropriation |
43901X | DR | RL | 639901X(DR) 689901X(CR) |
Allotted estimated revenues-quarterly allotment Estimated revenues-quarterly allotment |
53901X | CR | EL | 73901X(CR) 78901X(DR) |
Allotted budgeted expenditure/expense-quarterly allotment Budgeted expenditure/expense-quarterly allotment |
Reversions
Quarterly reversions are recorded in the North Carolina Accounting System in the same manner as allotment entries. For the first three quarters, a reversion entry must be dated and posted in the month following the ending quarter. However, the effective date for the fourth quarter reversion must be June 30th.
The following accounts are used to record a quarterly reversion entry where X represents the quarter of the reversion/allotment:
Account |
Credit |
Rule |
Account |
|
---|---|---|---|---|
111270 | CR | AL | 111270(CR) 439100(DR) |
Cash in allotment account State Appropriation |
43902X | CR | RL | 63902X(CR) 68902X(DR) |
Allotted estimated revenues-quarterly allotment Estimated revenues-quarterly allotment |
53902X | DR | EL | 73902X(DR) 78902X(CR) |
Allotted budgeted expenditure/expense-quarterly allotment Budgeted expenditure/expense-quarterly allotment |