New York State Government Accounting 101 (BAO 101)
Unlike businesses, governments do not exist to earn and maximize profits. Instead, a government’s primary objective is to provide services within budgetary constraints and be accountable to its citizens. This entry-level seminar is intended for individuals seeking a basic understanding of State financial management terminology. Following a brief overview of the State’s budget cycle, participants will learn about budgeting and accounting practices, federal grant and payment management, internal controls over cash accounts, accounting system reports, and reports on the State’s financial condition. Participants will gain an understanding of basic concepts and principles underlying how State appropriations, revenues, funds, and accounts are established, accounted for, invested, reconciled, and reported on. Upon completion of this session, participants will have an understanding of the State laws and Comptroller’s procedures and reports that are intended to assist them in providing control and accountability for State resources.