NRS 353.291 – Short title.
NRS 353.291 to 353.3245, inclusive, may be cited as the State Accounting Procedures Law. (Added to NRS by 1969, 506; A 1977, 41; 1987, 622; 1997, 69; 1999, 1420)
NRS 353.293 – Purpose of law; reservation of power to create funds and accounts.
1. It is the purpose of the State Accounting Procedures Law to set forth legislative policy governing the State’s financial procedures which relate to accounting and reporting, and to establish a system of accounting for the State that: (a) Presents fairly and with full disclosure the financial position and the results of financial operations of […]
NRS 353.295 – Definitions.
As used in the State Accounting Procedures Law, unless the context otherwise requires, and in all accounting procedures and reports pursuant to this chapter, the words and terms defined in NRS 353.2961 to 353.3135, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 1969, 506; A 1977, 41; 1987, 623; […]
NRS 353.2961 – “Account group” defined.
“Account group” means an independent self-balancing group of accounts set up to account for such matters as the principal and interest on unmatured general obligation bonds and certain fixed assets of the State which do not come within the definition of fund. (Added to NRS by 1977, 38; A 1989, 593)
NRS 353.2965 – “Accounting system” defined.
“Accounting system” means the total structure of records and procedures which discover, record, classify, summarize and report information on the financial position and results of operations of the State’s funds, account groups and organizational components. (Added to NRS by 1977, 37; A 1987, 623)
NRS 353.2975 – “Agency fund” defined.
“Agency fund” means a fiduciary fund which is solely custodial in nature, in which assets equal liabilities, and which does not involve measurement of the results of operations. (Added to NRS by 1987, 622)
NRS 353.3025 – “Encumbrance” defined.
“Encumbrance” means an obligation in the form of a purchase order, contract or salary commitment for which an estimated amount has been reserved and ceases to be an encumbrance when the actual liability is created. (Added to NRS by 1977, 38)
NRS 353.3027 – “Expenditure” defined.
“Expenditure” means the cost of goods delivered or services rendered, whether paid or unpaid, any provision for debt retirement not reported as a liability of the fund from which retired, and any capital outlays. For financial reporting, the term does not include an encumbrance. (Added to NRS by 1977, 38; A 1987, 623)
NRS 353.305 – “Fund” defined.
“Fund” means a fiscal and accounting entity with a self-balancing set of accounts recording cash and other financial resources, together with all related liabilities and residual equities or balances, and changes therein, which are segregated to carry on specific activities or attain certain objectives in accordance with special regulations, restrictions or limitations. (Added to NRS […]
NRS 353.307 – “Fund balance” defined.
“Fund balance” means the excess of assets over liabilities in a governmental fund. (Added to NRS by 1969, 506; A 1987, 623)
NRS 353.3076 – “Generally accepted accounting principles” defined.
“Generally accepted accounting principles” means generally accepted accounting principles for government as prescribed by the Governmental Accounting Standards Board. (Added to NRS by 2001, 2751)
NRS 353.3085 – “Lapse” defined.
“Lapse” as applied to an appropriation means the automatic termination of such appropriation within a fund. (Added to NRS by 1977, 38)
NRS 353.3087 – “Liability” defined.
“Liability” means a debt or other legal obligation arising out of a transaction in the past which must be liquidated, renewed or refunded at some future date. (Added to NRS by 1977, 38; A 1987, 624)
NRS 353.311 – “Revenue” defined.
“Revenue” means the gross increase in ownership equity during a designated period. If the accounts are kept on an accrual basis, the term designates: 1. Additions to assets which do not increase any liability or represent the recovery of an expenditure or contributions of fund capital in proprietary funds; and 2. The cancellation of liabilities […]
NRS 353.3115 – “Reversion” defined.
“Reversion” as applied to an appropriation means the return of the unused amount of an appropriation to the fund from which appropriated. (Added to NRS by 1977, 38)
NRS 353.3135 – “Trust fund” defined.
“Trust fund” means a fiduciary fund that is not an agency fund. (Added to NRS by 1987, 622)
NRS 353.319 – Administration of law; regulations.
1. The State Controller shall administer the provisions of the State Accounting Procedures Law. 2. The State Controller shall, 30 days prior to the adoption, amendment or repeal of an accounting or reporting regulation give notice to each elective state officer, each state board or commission and the head of each state department. (Added to […]
NRS 353.3195 – Regulations regarding use of electronic symbols to substitute or supplement signature of authorized officer.
1. The State Controller may provide by regulation for the use of electronic symbols to substitute or supplement the handwritten or facsimile signature of an authorized officer that indicates the officer’s authorization or verification on a document required by the State Controller pursuant to the provisions of NRS 353.291 to 353.3245, inclusive. 2. As used […]
NRS 353.321 – Categories of funds: Reporting; accounting; assignment by State Controller.
1. The State Controller shall report each fund in one of the following categories for purposes of annual financial statements: (a) State General Fund; (b) Special revenue funds; (c) Capital projects funds; (d) Debt service funds; (e) Permanent funds; (f) Enterprise funds; (g) Internal service funds; (h) Pension trust funds; (i) Investment trust funds; (j) […]
NRS 353.323 – State General Fund created; use of categories of funds and account groups.
1. Governmental funds must be used as a means of accounting for segregations of financial resources by focusing upon a determination of financial position and changes in financial position rather than upon a determination of net income. 2. The State General Fund is hereby created and must be used to receive all revenues and account […]