Volume 351, Page 37 View pdf image (33K) |
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Student Revenues: Student tuition and fees are fully recognized as revenues in the fiscal year in which the related courses or Accounts and Notes Receivable: An allowance for doubtful receivables is provided for estimated losses expected to be incurred in Inventories: Inventories are stated at the lower of cost, using the first-in, first-cut method, or market. Plant- donation in the case of gifts. Consistent with generally accepted accounting principles for colleges and universities, depreciation is not provided for the cost of plant assets. Operating Transfers from State's General Fund: A substantial portion of the higher education fund's current unrestricted expenses, including current 3. Budgeting and Budgetary Control: The Maryland Constitution requires the Governor to submit to the General Assembly an annual balanced General Fund: The General Fund is the fund in which all general transactions of the State are recorded, unless otherwise Special Fund: The Special Fund includes all of the transportation activities of the State (except for the Maryland Federal Fund: The Federal Fund is the fund in which principally all grants from the Federal government are recorded. 37
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Volume 351, Page 37 View pdf image (33K) |
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