NCJ Number
69821
Journal
GOVERNMENTAL FINANCE Dated: (February 1974) Pages: 13-15,27
Date Published
1974
Length
4 pages
Annotation
The article highlights the North Carolina Uniform Accounting System, which governs all local government units in the State, and the benefits which accrue from it.
Abstract
The development of a uniform accounting system for all the cities and counties of a State is a major step in strengthening local government efficiency, improving internal control, and eliminating redundancies. Some of the major benefits of such a system are (1) increased communication, cooperation, and understanding between county and municipal governments; (2) simplification of personnel changes within the State and increased employment opportunities; (3) a more effective auditor and more reliable accounting records; and (4) less time spent by auditing personnel in learning individual accounting systems. All accounting areas of significance to local units are treated in detail under the System, including meeting the unique needs of local units while maintaining a uniform chart of accounts; measurement of fiscal progress through the adoption and active use of a well-prepared budget; uniform use of forms to estimate various expenditures and revenues; detailed procedures for counting, numbering, valuing and recording fixed assets; and maintenance of control over the fixed assets through initial inventory and records maintenance procedures. Further, a central depository for cash resources is maintained in one bank account to maximize the ability to make profitable use of idle funds, while detailed records are maintained to preserve the identity and proper balances of the various components. A pilot implementation conducted in three cities and one county in North Carolina illustrates the system's anticipation of local needs.