[HISTORY: Adopted by the Legislature of the
Menominee Indian Tribe 4-17-1980 by Ord. No. 80-7. Amendments noted where
applicable.]
The basis of accounting shall be fund accounting using the modified accrual basis, encumbrances and budgetary control (as defined in the glossary of terms in § 7-7 of this chapter), in conformity with generally accepted accounting principles applied on a consistent basis and in compliance with requirements for the management of state or federal grants and contracts.
A.
Authority to incur expenses and approve expenditures. The Tribal Legislature, through budgets and appropriations ordinance, sets the limits for authorized expenses and expenditures, and it may authorize the expense approval authority to act on its behalf (as defined in the glossary of terms in § 7-7 of this chapter) with authorization given by motion of the Tribal Legislature.
B.
Purchase orders and contracts. Purchase orders and
contracts shall be issued in advance of any commitment for services
or goods. The Tribal Legislature will not recognize as legal or binding
any commitment for services or goods that is not covered by a purchase
order or contract issued in advance, except for:[1]
C.
The Tribal Legislature shall make additions or deletions to the list in Subsection B of this section by resolution.
D.
Reports to the Tribal Legislature, its officers and budget units. The Financial Manager (as defined in the glossary of terms in § 7-7 of this chapter) shall report as needed through balance sheets and statements of fund transfers, support, revenue and expenses (as defined in the financial and management reports in § 7-8 of this chapter).
[Amended 5-23-1997]
The Department of Finance shall be responsible
for the establishment of an Accounting Procedures Manual as a part
of the Administrative Procedures Manual of the Menominee Indian Tribe
of Wisconsin.
A.
An audit of all tribal accounts shall be conducted
by an independent certified public accounting firm, chosen by the
Tribal Legislature, at the end of each fiscal year and presented to
the Tribal Legislature no later than three months after the close
of the fiscal year.
B.
Such report shall include under separate cover a statement
as to the compliance of the accounting system and overall operations
with the intent of this chapter.
A.
The glossary of terms, description of funds, and financial
and management reports are made a part of this chapter in order to
show the intent of the Tribal Legislature.
A.
Purpose. The purpose of this section is to provide
definitions of terms (and abbreviations) as they are used when discussing
the financial and management accounting system.
B.
ACCOUNT (ACCT)
ACCOUNTING PERIOD (ACCTG PRD)
ACCOUNTING SYSTEM (ACCTG SYS)
APPROPRIATION (APPROPN)
BUDGET (BUDGT)
BUDGETARY ACCOUNTING (BUDGT ACCTG)
BUDGETARY CONTROL (BUDGT CNTRL)
BUDGET UNIT (BUDGT UNIT)
CASH MANAGEMENT (CASH MNGT)
CODING (COD)
COMPUTER PROGRAM (COMP PROG)
EDIT (ED)
ENCUMBRANCES (ENCUMBR)
EXPENDITURE (EXPEND)
EXPENSE APPROVAL AUTHORITY (EXP APP ATHY)
FINANCIAL MANAGER (FI MAN)
FUNCTION (FN)
FUND (FD)
FUND TRANSFER (FD TRNS)
GENERAL LEDGER (G/L)
GRANT (GR)
INPUT DOCUMENT (INP DOC)
INTERFACE (INTERF)
MODIFIED ACCRUAL BASIS (MOD ACCR BASIS)
REVENUE (REV)
STRUCTURE LEVEL ACCOUNT (STR LV ACCT)
SUBSYSTEM (SUBSYS)
SYSTEM (SYS)
Definitions.
A number included in the chart of accounts published by the
Department of Finance. The account number classifies revenues, expenditures,
assets and liabilities by summary group, subgroup and detail.
A period at the end of which financial statements are prepared.
There are to be 13 four-week accounting periods per year. The accounting
year is from October 1 through September 30.
The total structure of records and procedures which record,
classify and report information on the financial position and operations
of a government unit or any of its funds and organizational components.
An authorization granted by the Tribal Legislature to make
expenditures and incur obligations for specific purposes. (Note: Appropriations
are specified as to the amount and the time in which they must be
expended.)
A plan of financial operation embodying proposed expenditures
for a given period and the proposed means of financing them. Used
without any modifier, the term indicates a financial plan for a single
year.
The element of the standard governmental accounting system
which is directed toward satisfying legal requirements for budgetary
control and reflecting budgetary operations and conditions. Funds,
budget units and budgetary accounts, such as estimated revenues and
appropriations, are components of the element of the accounting system.
The control or management of a government unit or enterprise
in accordance with the approved budget for the purpose of keeping
expenditures within the limitations of available appropriations and
available revenues.
[Amended 5-23-1997]
The basic accounting entity within the operating funds. The
level to which budget appropriations are made by the Tribal Legislature
and to which, in most instances, appropriations are controlled.
Allocating, spending, investing, conserving, safeguarding,
and otherwise handling cash or its equivalent in a manner intended
to result in its most efficient use.
A system of numbering or otherwise designating accounts,
entries, invoices, vouchers, etc., in such a manner that the symbol
used reveals quickly certain required information.
A plan or method for collection and transcription of data
to a computer, coding for operation of the computer and related equipment,
printing of reports and other output, and absorption of the resulting
data into the system. (A list of coded instructions for the computer
is called a "routine.")
To verify the completeness and correctness of documents which
are input to the data processing and accounting systems, either manually
or by machine processes.
Contingent liabilities in the form of purchase orders, contracts,
or auditor's encumbrance which are chargeable to an appropriation
and for which a part of the appropriation is obligated. They cease
to be encumbrances when paid or when the actual liability is recorded.
Where the accounts are kept on the cash basis, this term
designates only actual cash disbursements for these purposes. Where
the accounts are kept on the accrual basis or the modified accrual
basis, this term designates the cost of goods delivered or services
rendered, whether paid or unpaid, including expenses, provision of
debt retirement and capital outlays.
An individual or a position that has been authorized by the
Tribal Legislature to approve purchase orders, contracts, time cards,
etc., that are consistent with all underlying agreements and program
objectives, to the level of appropriations approved by the Tribal
Legislature.
The individual responsible for the implementation and maintenance
of the accounting system, in conformity with generally accepted accounting
principles applied on a consistent basis. The Financial Manager reports
to the Tribal Legislature or its officers the progress of all budget
units and the compliance of requirements for management of state or
federal grants and contracts.
[Amended 5-23-1997]
A class of related services established to accomplish broad
community goals or an authorized group of programs having related
purposes. In the government field, the classification of expenditures
by functions permits the use of expenditure data in preparation of
performance budgets in which the main emphasis is on activities rather
than organizational units and objects.
An independent fiscal and accounting entity with a self-balancing
set of accounts recording cash and/or other resources together with
all related liabilities, obligations, reserves and equities which
are segregated for the purpose of carrying on specific activities
or attaining certain objectives in accordance with special regulations,
restrictions or limitations.
A contribution of fund capital to fund capital of another
intra-governmental unit. This does not represent loans to or from
intra-governmental units.
A computer file which contains the accounts needed to reflect,
in summary subgroup and detail, the financial position and the results
of financial operations of an organizational unit (function, fund,
subfund, program/contract and cost center).
A contribution by one governmental unit to another unit.
The contribution is usually made to aid in the support of a specified
function, general programs or specific projects.
One of numerous forms used to record transactions. A coding
blank on each form contains the details of a transaction in numeric
or alpha symbols that can be recorded and interpreted by the data
processing system.
The accrual basis, as recommended for government units, does
not require that uncollected revenues, if the option to accrue is
exercised, and unpaid expenditures be recorded in the books of account
on a day-to-day basis; it is sufficient that they be recorded at the
close of the fiscal year.
For those revenues which are recorded on the accrual basis,
this term designates additions to assets which do not increase any
liability, do not represent the recovery of an expenditure, do represent
the cancellation of certain liabilities with a corresponding increase
in assets, and do not represent contributions of fund capital to fund
capital of another intra-governmental unit. The same definition applies
to those cases where revenues are recorded on the modified accrual
or cash basis, except that additions would be partially or entirely
to cash.
A number included in the chart of accounts published by the
Department of Finance. The structure level account classifies account
numbers by functions, fund, subfund, program/contract and cost centers.
A smaller system nested within a large system, e.g., general
ledger subsystem is a member of the budgetary accounting system.
A set of elements forming an activity or processing procedure,
seeking common goals, by operating on data in a time reference to
yield information, e.g., payroll system.
A.
Purpose. The purpose of this section is to provide
in outline form the contents of reports produced by the financial
and management accounting system.
A.
Purpose. The purpose of this section is to provide
a description of the operating funds (and abbreviations) as they are
used in the financial and management accounting system.
B.
Descriptions.
(1)
Agency Fund (AGNCY FD). The Agency Fund is used to
account for assets received by the Menominee Indian Tribe of Wisconsin
in its capacity as agent for governmental units outside of the Reservation.
The expenditures of these assets must be in accordance with the conditions
of the appropriate agreement. In this fund title to the assets entrusted
remains the property of the principle until the agreements are closed
or transferred to the Menominee Indian Tribe of Wisconsin.
(2)
General Fund (GEN FD). The General Fund is used to
account for revenues, unrestricted donations, and expenditures which
are not accounted for in other funds.
(3)
Land, Buildings and Equipment Fund (LD, BLDG, EQP
FD). The Land, Buildings and Equipment Fund includes the land, buildings
and equipment that are owned or in the custody of the Menominee Indian
Tribe of Wisconsin.
(4)
Special Revenue Fund (SP REV FD). The Special Revenue
Fund is used to account for proceeds of specific revenue sources earmarked
by federal, state or local statutory requirements to finance specified
services or activities; e.g., revenue sharing funds are included here.
(5)
Trust Fund (TR FD). The Trust Fund is used to account
for assets received by the Menominee Indian Tribe of Wisconsin in
its capacity as trustee for individuals, private organizations or
restricted donations. The expenditures of these assets must be in
accordance with the conditions of the agreement. In this fund the
trustee normally acquires title to the assets.
