It is the objective Budgeting and Accounting System as fellows.
Provide all levels of management with financial information needed for decision making and to assure the effective discharge of administrative responsibilities. 2. Minimize the duplication of effort within and among State agencies in recording and reporting financial transactions. 3. Maximize uniformity within accounting entities to permit a meaningful comparison between and among them. 4. Provide a comprehensive operations manual that sets forth policies and procedures and fully describes the State's fiscal processes. 5. Provide a budget control system that will accurately record budget authorizations and indicate the status in a meaningful manner. 6. Provide a means to develop a management operating information structure and permit the timely capturing of financial and production statistics useful to management. 7. Provide a double-entry accounting system which will accurately record and permit the meaningful reporting of assets, liabilities, fund balance and the intermediary nominal account activities (receipts and disbursements). 8. Provide accounting and budgeting reports that transmit financial activities on a timely basis in both summary and detail form to the various levels of management. 9. Provide an expenditure identification system that results in accurately classifying costs in the period in whic'i resultant services 'were rendered. 10. Provide a means to accurately record valid encumbrances and subsequent adjustments in a timely manner. 11. Provide cash accounting procedures that accurately monitor actual and projected cash flow permitting the investment of idle cash and forecasting of cash needs. 12. Provide for the maximum utilization of computer facilities to process financial transactions and minimize the utilization of decentralized detailed records maintained either manually or electronically. 13. Provide a well documented data processing system which will enable data processing personnel (unfamiliar with the System's development) to readily make required modifications. 14. Provide a fixed asset accounting system which will not only establish account- ability for, and evaluation of, fixed assets, but also will yield timely information relative to the effective management of fixed assets.
