Littleton Public Schools Policy

Policy Code    DI Policy Name    Fiscal Accounting and Reporting Adoption            July 2, 1984 Revised

The primary purpose of the District’s financial accounting and reporting structure is to comply with applicable legal provisions and to determine fairly and with full disclosure the financial position and results of the financial operations of the constituent funds and self-balancing account groups of the District.

Funds received and/or disbursed by any agent of the District will be accounted for carefully and accurately. Procedures will conform with generally accepted accounting practices, including appropriate separation of accounts, funds, and special monies. Accounts will be kept in such a manner that they are easily reviewed and audited.

A modified accrual accounting system shall be used.

Legal Reference:  C.R.S. 22-44-204