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Section 10: FINANCE 9 10.01 Subject: Financial status reports and basic principles Reference: ACSEC policy Source: February 24, 1999 memo to 9-1-1 coordinators and financial officers Policy: Describes the basic concepts, by financial category that shall apply when completing the FSR: Revenues. Revenues (wireline service fee, wireless service fee, interest, other) are recognized in the fiscal year that the RPC receives them. Expenditures. Expenditures are recorded on the current fiscal year FSR when disbursed, unless they are payment against a prior fiscal year encumbrance. Line Item Budqets. Budgets are established and monitored by line item; no individual line item can exceed the budget for that line item. Encumbrances. By October 15th of each year, the RPC will submit to the ACSEC a binding encumbrance report that shows all remaining obligations for the prior fiscal year that will be paid from that prior fiscal years funding. Quarterly FSR's will be filed as needed for the prior fiscal year untit all encumbered amounts are expended or lapsed. Fund Balance. A negative fund balance shall not exist at any time. StrateQic Planl Budqets. Revenues, expenditures, and prior years ending unencumbered fund balance are all considered when the ACSEC adopts the RPC's strategic plan. Expenditure budgets are approved assuming projected revenue levels will be met. If revenue levels fall below projections and remain there, the RPC must reduce its expenditure budget or submit a revised surcharge reimbursement request. The RPC and their ACSEC systems analyst determine when to alter expenditure budgets or request additional surcharge funds. 910.02 Subject: Use and timing of wireless fund deposits and policy Reference: ACSEC internal e-mail ACSEC Policies and Procedures February 1999 Page 36