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006.09.1 R1-19-6-101. Revenue Classification

AR ADC 006.09.1 R1-19-6-101Arkansas Administrative Code

West's Arkansas Administrative Code
Title 006. Department of Finance and Administration
Division 09. Office of Accounting
Rule 1. Rules and Regulations of the Financial Management Guide
Ark. Admin. Code 006.09.1 R1-19-6-101
006.09.1 R1-19-6-101. Revenue Classification
Revenue is classified by general ledger account number. All general ledger accounts are identified by a ten (10) digit account number and an appropriate account description. The ten (10) digit account number is designed to identify the revenue receipt(s) of a State entity. The revenue accounts may be used by any agency to record a receipt and, with only a few exceptions, may be used for any fund. The account number is broken down into four main parts: the financial statement type, the revenue type, the revenue source and a unique identifier.
All revenue accounts begin with “4.” The type of revenue is identified by the third digit of the account number. The fourth digit of the account number indicates the revenue source. The remaining six digits are assigned by the Department of Finance and Administration-Office of Accounting (DFA-OA) in a systematic manner to uniquely identify the account.
Revenue Type
The revenue type (the third digit in the account number series) is established in accordance with the Revenue Classification Law to provide a basic breakdown of the revenues. The revenue types are General Revenues, Special Revenues, Non-revenue Receipts and Other Revenue, Grants and Reimbursements. (ACA § 19-6-108) A description of each revenue type is listed below.
PLEASE NOTE: The revenue type directs the Treasurer of State's distribution process. The use of an incorrect revenue type will cause incorrect distribution of the related funds. Revenues deposited in revenue account types “1,” “2” or “3” remain on deposit with the Treasurer of State until the end of the month. At that time a percentage as specified by law is deducted for the Constitutional Officers Fund and the State Central Services Fund. The remaining balance after deduction of fees is distributed to the designated fund. Revenue receipt deposits with account types “4” or “5” are credited to the designated fund at the time the receipt is processed in AASIS, and these revenues may be utilized as soon as posting is complete.
Series
Revenue Type
Description
(40)1
General Revenues
Used only when the revenue(s) is to be deposited into the General Revenue Fund Account of the State Apportionment Fund - AGA0000. A detailed list of these revenues is located in ACA § 19-6-201.
(40)2
Special Revenues - 3%
As required by law, certain special revenues are held in the Special Revenue Fund Account of the State Apportionment Fund - ASA0000 prior to being credited to the special revenue fund as provided on the receipt document. The revenues recorded in this manner are usually collected by the DFA-Revenue Division or another Constitutional and Fiscal Agency Fund agency or an agency in the State Central Services Fund on behalf of another agency. A detailed list of these revenues is located in ACA § 19-6-301. The fee deducted from these collections to support State Central Services Fund and Constitutional Officers Fund ranges from 3 to 4% by law.
(40)3
Special Revenues - 1 ½ %
Same as type “2” except a smaller deduction is made at month end. Typically, the agency collecting the revenue(s) is usually an agency other than a Constitutional and Fiscal Agency Fund agency or an agency in the State Central Services Fund. The revenues recorded in this manner are usually funds of the collecting agency. A detailed list of these revenues can be found in ACA § 19-6-401 et seq. The fee deducted front these collections to support State Central Services Fund and the Constitutional Officers Fund ranges from 1 ½ % to 2%.
(40)4
Non-Revenue Receipts
Used to account for receipts received that are deemed non-revenue. A list of receipts that are statutorily required to be non-revenue is detailed in ACA § 19-6-701.
(40)5
Other Revenue, Grants & Reimbursement
Other Revenue, Grants & Reimbursement include all other revenues not determined by legislation to be General or Special Revenues or Non-Revenue Receipts. This includes ad valorem taxes collected for the benefit of local governments and federal funds and receipts for federal grants, aid or reimbursements received directly from the federal government. (ACA § 19-6-501)
Revenue Source
The revenue source number (the fourth digit in the account number series) is established to designate the basic source of the revenue. The types of sources with their related description follow:
Series
Description
(40X)0
Taxes
(40X)1
Fees
(40X)2
Fines and Penalties
(40X)3
Licenses and Permits
(40X)4
Rents, Royalties and Leases
(40X)5
Grants and Federal Reimbursements
(40X)6
Non-Revenue
(40X)7
Miscellaneous
(40X)8
Sale of Property (whether purchased or produced)
(40X)9
Interest on investments
An updated listing of revenue account numbers can be obtained any time by running a Chart of Accounts Report in AASIS. To obtain only revenue account numbers enter “4*” in the GL Accounts field. Agencies that do not have direct access to AASIS may request a copy of the listing from the DFA-OA-Service Bureau at any time.
Additional accounts may be requested by completing the “General Ledger Account Request” Form located at http://www.state.ar.us/dfa/accounting/documents/gl_acct_request.doc. After completion, the form should be submitted to the DFA-OA-Reconciliation Section. DFA-OA reserves the right to limit the adding of new accounts.
Current with amendments received through January 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 006.09.1 R1-19-6-101, AR ADC 006.09.1 R1-19-6-101
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