Washington § 28A.505.020 - Districts must utilize methods of revenue and expenditure recognition.

Full text of Washington Revised Code of Washington § 28A.505.020 — Districts must utilize methods of revenue and expenditure recognition., with citation guidance and answers to common questions.

§ 28A.505.020. Districts must utilize methods of revenue and expenditure recognition.

All school districts must utilize the following methods of revenue and expenditure recognition in budgeting, accounting and financial reporting:
(1) Recognize revenue as defined in RCW 28A.505.010(1) for all funds: PROVIDED, That school districts that elect the cash basis of expenditure recognition under subsection (2) of this section shall recognize revenue on the cash basis.
(2) Recognition of expenditures for all funds shall be on the accrual basis: PROVIDED, That school districts with under one thousand full time equivalent students for the preceding fiscal year may make a uniform election for all funds, except debt service funds, to be on the cash basis of expenditure recognition. Notification of such election shall be given to the state superintendent of public instruction in the budget of the school district and shall remain in effect for one full fiscal year.
[ 1990 c 33 s 416; 1983 c 59 s 2; 1980 c 18 s 1; 1975-'76 2nd ex.s. c 118 s 2. Formerly RCW 28A.65.405.]

Notes

Application—Effective date—Severability—1983 c 59: See notes following RCW 28A.505.010.
Severability—1975-'76 2nd ex.s. c 118: See note following RCW 28A.505.010.

Source: official Washington text · Last verified 2026-08-27

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What does Revised Code of Washington § 28A.505.020 cover?

Section 28A.505.020 ("Districts must utilize methods of revenue and expenditure recognition.") is part of the Revised Code of Washington, the codified statutory law of Washington. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

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