Massachusetts Uniform Accounting System
A Massachusetts Uniform Accounting System is a local government uniform accounting system for Massachusetts local governments.
- AKA: UMAS.
- Example(s):
- Counter-Example(s):
- See: Massachusetts Schedule A, Massachusetts General Laws.
References
2016
- (City Council of Barnstable, 2016b) ⇒ Town of Barnstable. (2016). “Town of Barnstable Adopted Operating Budget - 2017."
- QUOTE: Uniform Municipal Accounting System (UMAS): UMAS succeeds the so-called Statutory System (STAT) and is regarded as the professional standard for municipal accounting in Massachusetts. As a uniform system for local governments, it conforms to Generally Accepted Accounting Principles (GAAP), offers increased consistency in reporting and record keeping, as well as enhanced comparability of data among cities and towns.
2014
- (UMAS, 2014) ⇒ Massachusetts Department of Revenue. (2014). “Uniform Massachusetts Accounting System – July, 2014 (A Manual for the Uniform Massachusetts Accounting System for: Cities, Towns, Regional School Districts, Special Purpose Districts)."
- QUOTE: This Manual comprises the Uniform Massachusetts Accounting System (UMAS). The scope of the Manual is the operation of an accounting system for a local governmental entity in Massachusetts. Its purpose is to provide a reference for the City Auditor, Town Accountant or official with similar responsibilities in accounting for financial transactions and reporting results of municipal financial operations. The Manual is based on Generally Accepted Accounting Principles (GAAP), but is written to meet the particular needs of Massachusetts local accounting officials.
Massachusetts General Laws (G.L.) c. 44, § 38 requires the Director of Accounts in the Department of Revenue to prescribe uniform accounting systems for local governmental entities. Accounting for municipally owned electric light plants is prescribed in G.L. c. 164 and is regulated by the Department of Public Utilities; accounting for retirement systems is prescribed in G.L. c. 32 and is regulated by the Public Employment Retirement Administration Commission.
This Manual deals solely with accounting policies. Municipal financial issues such as budgeting or audit procurement are not included. Other publications of the Division of Local Services (DLS) address such subjects. ...
- QUOTE: This Manual comprises the Uniform Massachusetts Accounting System (UMAS). The scope of the Manual is the operation of an accounting system for a local governmental entity in Massachusetts. Its purpose is to provide a reference for the City Auditor, Town Accountant or official with similar responsibilities in accounting for financial transactions and reporting results of municipal financial operations. The Manual is based on Generally Accepted Accounting Principles (GAAP), but is written to meet the particular needs of Massachusetts local accounting officials.