9 CRR-NY 1648-4.1NY-CRR
STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 9. EXECUTIVE DEPARTMENT
SUBTITLE S. DIVISION OF HOUSING AND COMMUNITY RENEWAL
CHAPTER III. LOW RENT HOUSING
SUBCHAPTER D. ACCOUNTING MANUAL FOR PUBLIC HOUSING AGENCIES
PART 1648. SUBSIDIES
SUBPART 1648-4. ACCOUNTING ENTRIES FOR SUBSIDIES
9 CRR-NY 1648-4.1
9 CRR-NY 1648-4.1
1648-4.1 Recording receipt of subsidies.
(a) All subsidies shall be deposited in the administration fund and credited to account 2250, Prepaid State of New York Subsidies, if a State subsidy, and to account 2260, Other Prepaid Cash Subsidies, if a local cash subsidy. The entry, through the cash receipt register, for a State subsidy would be as follows:
Entry (1):
Debit: Account 1112, Administration fund
$XXX
Credit: Account 2250, Prepaid State of New York Subsidies
$XXX
(b) The credits to accounts 2250 and 2260 shall remain undisturbed therein until the close of the fiscal year when the amount of subsidy to be taken into revenue is recorded (see § 1648-4.2, below) unless subsidies due as of the end of the previous fiscal year have been accrued, as per section 1648-4.2. In this event, the accrued subsidy shall be transferred by journal entry, as the subsidies become available and are received, as follows:
Entry (2):
Debit: Account 2250, Prepaid State of New York Subsidies
$XXX
Credit: Account 1141, Accrued Subsidies, State of New York
$XXX
9 CRR-NY 1648-4.1
Current through September 15, 2021
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.