Recording Allotments and Reversions

Journal Voucher Entries

Quarterly allotments and reversions are recorded in the North Carolina Accounting System using the journal entry screens in the Budgetary Control (BC) module.

General government agencies are allotted portions of their authorized budget on a quarterly basis. At the end of each quarter, any remaining allotment that has not been spent must be reverted.

Allotments

The following accounting rules record allotment and reversion entries.

  • AL Cash in allotment account
  • EL Allotted expenditures
  • RL Allotted receipts

The following accounts are used to record a quarterly allotment entry where X represents the quarter to which the transaction relates.

Entry
Account
Debit
Credit
Accounting
Rule
Posted
Account
Description
111270 DR AL 111270(DR)
439100(CR)
Cash in allotment account
State Appropriation
43901X DR RL 639901X(DR)
689901X(CR)
Allotted estimated revenues-quarterly allotment
Estimated revenues-quarterly allotment
53901X CR EL 73901X(CR)
78901X(DR)
Allotted budgeted expenditure/expense-quarterly allotment
Budgeted expenditure/expense-quarterly allotment

Reversions

Quarterly reversions are recorded in the North Carolina Accounting System in the same manner as allotment entries. For the first three quarters, a reversion entry must be dated and posted in the month following the ending quarter. However, the effective date for the fourth quarter reversion must be June 30th.

The following accounts are used to record a quarterly reversion entry where X represents the quarter of the reversion/allotment:

Entry
Account
Debit
Credit
Accounting
Rule
Posted
Account
Description
111270 CR AL 111270(CR)
439100(DR)
Cash in allotment account
State Appropriation
43902X CR RL 63902X(CR)
68902X(DR)
Allotted estimated revenues-quarterly allotment
Estimated revenues-quarterly allotment
53902X DR EL 73902X(DR)
78902X(CR)
Allotted budgeted expenditure/expense-quarterly allotment
Budgeted expenditure/expense-quarterly allotment