Bill No.: SF0172                  Drafter:  LGC

 

LSO No.:  05LSO-0079              Effective Date:  7/1/2005

 

Enrolled Act No.:  SEA0105

 

Chapter No.:       231

 

Prime Sponsor:     Joint Appropriations Interim Committee

 

Catch Title:       GAAP accounting implementation.

 

Subject:  Implements Generally accepted accounting practices by amending various statutes.

 

Summary/Major Elements:

 

·        Implements generally accepted accounting practices (GAAP) and de-earmarking of funds authorized in 2000.

 

·        Repeals trust and agency and earmarked revenue accounts and provides for accounting of governmental funds based on accounts and fund types.

 

·        Amends statutes to reflect changes in accounting.