Adopted Budget - Bedford County, Virginia

EXPENDITURE CHART OF ACCOUNTSThe Chart of Accounts provides the means to accumulate all accounting information for financial managementpurposes. The Chart of Accounts is a systematic structure for recording and reporting accounting informationpertaining to the financial activities of the County. The Chart of Accounts has five major components forclassifying data. Each component is separate from the other. The expenditure components and their purpose areas follows:FundXX - XXXX - X - XXXX - XXXFund Department Type Object Sub-ObjectClassifies data according to fiscal entities necessary to comply with legal requirements and Generally AcceptedAccounting Principals (GAAP).DepartmentAccumulates financial information related to activities of each department. The Board of Supervisorsappropriates according to departments. Expenditures are charged against the departments in accordance withthose appropriations.TypeClassifies the type of account: Asset, Liability, Fund Balance, Revenue, ExpenditureObject CodeClassifies the specific type of expenditure.Sub-ObjectFurther classifies the specific type of expenditure. The sub-object is intended to give the department theflexibility of accumulating financial information for department management purposes.