§ 14-59-110 - Cash receipts journals for municipalities.
14-59-110. Cash receipts journals for municipalities.
(a) (1) Municipal corporations shall establish a cash receipts journal.
(2) (A) The receipts journal shall indicate:
(i) The receipt number;
(ii) The date of the receipt;
(iii) The payor; and
(iv) The amount of the receipt.
(B) The classification of such receipts shall include the major sources of revenue, such as:
(i) State revenues;
(ii) Property taxes;
(iii) Sales taxes;
(iv) Fines, forfeitures, and costs;
(v) Franchise taxes; and
(vi) Other.
(b) (1) All items of receipts shall be posted to and properly classified in the cash receipts journal.
(2) (A) The journal shall be footed, crossfooted, and totaled monthly and on a year-to-date basis.
(B) The journal shall be reconciled monthly to total bank deposits as shown on the municipalities' bank statements.