4009.1 Shasta Liberty BP Accounting

4009.1 Shasta Liberty BP Accounting

Board Policy 4009.1 establishes financial recordkeeping standards on an accrual basis in alignment with GAAP, GASB, FASB, and the Standardized Account Code Structure (SACS). It strictly prohibits false entries, fictitious invoices, undisclosed accounts, or non-contracting party payments, requiring all financial resources to be accounted for in the Main Fund. Furthermore, the policy outlines revenue and expenditure recognition criteria and assigns system administrators the responsibility of maintaining secure data backups for web-based financial databases and reports.