Recording receipt of subsidies
Compiled text through Sep 15, 2021
Register checked through Jul 29, 2026
No later Register activity identified in this check.
Dates and status
- Compiling agency
- Executive Department
- Text status
- Source receipt
- Compiled text through
- Sep 15, 2021
- Register checked through
- July 29, 2026/Vol. XLVIII, Issue 30 (2026-07-29)
- Activity status
- No later Register activity identified in this check.
- Source snapshot
- Jun 6, 2026
(a)All subsidies shall be deposited in the administration fund and credited to account 2250, Prepaid State of New York Subsidies, if a State subsidy, and to account 2260, Other Prepaid Cash Subsidies, if a local cash subsidy. The entry, through the cash receipt register, for a State subsidy would be as follows:
Entry (1):
Debit: Account 1112, Administration fund $XXX
Credit: Account 2250, Prepaid State of New York Subsidies $XXX
(b)The credits to accounts 2250 and 2260 shall remain undisturbed therein until the close of the fiscal year when the amount of subsidy to be taken into revenue is recorded (see § 1648-4.2, below) unless subsidies due as of the end of the previous fiscal year have been accrued, as per section 1648-4.2. In this event, the accrued subsidy shall be transferred by journal entry, as the subsidies become available and are received, as follows:
Entry (2):
Debit: Account 2250, Prepaid State of New York Subsidies $XXX
Credit: Account 1141, Accrued Subsidies, State of New York $XXX