<div dir="ltr">Agreed with Pete Orne, keep it on the Balance Sheet.<div>Unfortunately, the person before me set up completely new funds, so I kept things consistent.</div><div><br></div><div>Yes, I have asked our auditors, many times, I'm sure they are sick of me asking but I am def going to ask if I can move the balance out of the separate funds and onto our Balance Sheet, like Pete has done.</div><div><br></div><div>Thanks!</div><div><br></div></div><br><div class="gmail_quote"><div dir="ltr" class="gmail_attr">On Fri, Jul 21, 2023 at 1:57 PM Pete Orne <<a href="mailto:pete.orne@fivetowns.net">pete.orne@fivetowns.net</a>> wrote:<br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex"><div dir="ltr">What I finally went with is a "Restricted Account" to show that those previously undesignated funds must be used for a certain purpose. This is an equity account like your Undesignated Fund Balance.<div><br></div><div>In the handbook (Sep 2022 version), on page 7-10 you'll see 7200 are restricted fund balances, so 1000.0000.0000.37200.000 would be a generic restricted account. You'll see there are more descriptive accounts for Capital Reserves (37210), Special Ed (37240) and other funds (372?0).</div><div><br></div><div>A journal entry moving undesignated to restricted is all you need.</div><div><br></div><div>When you use the funds you'll want to move the money to the appropriate fund to track the use.</div><div><br></div><div>Please let me know if you have any questions.</div><div><br></div><div>Pete</div><div><br clear="all"><div><div dir="ltr" class="gmail_signature"><div dir="ltr"><p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:rgb(31,73,125)">Pete Orne, </span><span style="font-size:9pt;font-family:"Times New Roman",serif;color:rgb(31,73,125)">SFO</span><br></p><p class="MsoNormal"></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:rgb(31,73,125)">Business Manager</span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:rgb(31,73,125)">Camden Rockport/Five Town
CSD</span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:rgb(31,73,125)">22 Knowlton St.</span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:rgb(31,73,125)">Camden, ME 04843</span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:rgb(31,73,125)"> </span></p>
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<p class="MsoNormal"><u><span style="font-family:"Times New Roman",serif;color:rgb(5,99,193)"><a href="mailto:pete.orne@fivetowns,net" target="_blank">pete.orne@fivetowns,net<br></a></span></u></p><p class="MsoNormal"><u><span style="font-family:"Times New Roman",serif;color:rgb(5,99,193)"><a href="mailto:pete.orne@fivetowns,net" target="_blank"><br></a></span></u></p><p class="MsoNormal"><img width="95" height="96" style="color: rgb(31, 73, 125); font-family: "Times New Roman", serif;" src="https://ci3.googleusercontent.com/mail-sig/AIorK4wAVxTkTTfcgSC92BBVGSKYUCkASzcajM5hc7ErT0r76VLNMnghrG-Mc95wKVkc1yDsgrrd1MM"><img width="96" height="96" style="color: rgb(31, 73, 125); font-family: "Times New Roman", serif;" src="https://ci3.googleusercontent.com/mail-sig/AIorK4xNUh2MmGTPny7v0747Tww0SzOEaAjQp8o4QoFa-R13i0fUqAgnDUHVcYKa6cpHsW_0gDAnZ18"><u><span style="font-family:"Times New Roman",serif;color:rgb(5,99,193)"><a href="mailto:pete.orne@fivetowns,net" target="_blank"><br></a></span></u></p></div></div></div><br></div></div><br><div class="gmail_quote"><div dir="ltr" class="gmail_attr">On Fri, Jul 21, 2023 at 11:54 AM Alice Tucker <<a href="mailto:atucker@cherryfieldschool.org" target="_blank">atucker@cherryfieldschool.org</a>> wrote:<br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex"><div dir="ltr"><div class="gmail_default" style="font-family:georgia,serif">Good Morning;</div><div class="gmail_default" style="font-family:georgia,serif">I have never dealt with a reserve account before and the school board/town voted to put a certain amount from our carryover into a reserve account for unexpected expenditures for 2023-2024. Can anyone tell me how to do the accounting for this? I have looked at the accounting handbook but could not figure it out.</div><div class="gmail_default" style="font-family:georgia,serif"><br></div><div><div dir="ltr" class="gmail_signature"><div dir="ltr"><div><font size="2" face="georgia, serif"><i>Alice Tucker</i></font></div><div><font size="2">Administrative Assistant</font></div><div><font size="2">Cherryfield School Department</font></div><div><font size="2">207-546-7770</font></div></div></div></div></div>
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