2010 Component Unit Financial Statements - Regional ...

REGIONAL TRANSPORTATION COMMISSION OF SOUTHERN NEVADA
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION (CONTINUED)
JUNE 30, 2010
NOTE 2 - Budgetary Information (Continued)
h.
Statutory regulations require budget control to be exercised at the function level within the Regional
Transportation commission fund, which serves as the RTC's general fund. Budget control is
exercised at the fund level for all funds. The board administratively exercises control at the budgeted
item level within a department.
i.
Encumbrances are re-
All unemcumbered appropriations lapse at the end of the fiscal year.
appropriated in the ensuing fiscal year.
j.
Budgets are adopted on a basis consistent with the method used to report on governmental funds,
which are prepared in accordance with accounting principles generally accepted in the United States
of America.
Comparative data for the prior year have been presented for the individual fund statements in order to
provide an understanding of the changes in these funds.
Additional budgetary information can be found in Note 2 to the RTC's financial statements on page 26 of
this report.
53