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32 HB Fiscal Polices&Procedures <br /> Period Dateet <br /> 5. Reconcile revenue reports from <br /> the development software and Month 10 Review X X <br /> make any necessary updates to <br /> the GL. <br /> 6. Reconcile investment income. Month 10 Review X <br /> OTHER9.3 <br /> Prepaid Expenses <br /> 1. Adjust pre-paid expenses (e.g., <br /> insurance, real estate taxes, <br /> interest expense, etc.) to Month 10 Review X <br /> recognize expense in proper <br /> month. <br /> 9.4 ASSET ANALYSIS <br /> Fixed Assets <br /> 1. Record depreciation amounts for <br /> capital assets according to Month 18 X <br /> approved depreciation schedule. <br /> 2. Review new fixed asset <br /> purchases made in the previous <br /> month to verify they have been Quarter 30 x <br /> recorded property with the <br /> correct depreciation schedule. <br /> 3. Review disposals of fixed assets <br /> and adjust the fixed asset ledger Quarter 30 Approve x <br /> and appropriate. <br /> 4. Reconcile fixed asset ledger to Annual 30 Approve X <br /> year-end fixed asset inventory. <br /> 9.5 NET ASSETS <br /> 1. Analyze classifications of net <br /> asset accounts to ensure net <br /> assets are appropriately Month 20 X Provide Provide <br /> classified as unrestricted, input input <br /> temporarily restricted, or <br /> permanently restricted. <br /> ACCOUNTS9.6 <br /> 1. Review credit card statement; <br /> match to supporting <br /> documentation for approved Month 5 Review X <br /> travel and business expenses and <br /> verify coding. <br /> 2. Review expense reports; match <br /> supporting documentation for Month 5 Review X <br /> approved travel and business <br /> expenses and verify coding. <br /> 3. Follow up with staff on missing Month 5 X <br /> documentation as needed. <br /> Last updated September 2022 <br />