Under modified accrual accounting,budgetary authority expires at year end and the balances of Revenues and Expenditures are closed to

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Under modified accrual accounting, budgetary authority expires at year end and the balances of revenues and expenditures are closed to fund balance. This means that any unused budgetary authority, whether it be for revenues or expenditures, will be added or subtracted from the fund balance at the end of the year.

Under Modified Accrual Accounting,budgetary Authority Expires at Year End and the Balances