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At fiscal year end, any portion of revenue invoiced (not necessarily received) during the fiscal <br />year being closed out that represents charges or prepayment for materials and/or services <br />for the upcoming fiscal year shall be reclassified from a revenue account to a deferred <br />reveniue account (liability). In the new fiscal year the deferred revenue shall be reclassified <br />to a revenue account. (EXAMPLE: On June 1, 19X1, a city is invoiced $48,0010 which <br />represents charges foir the 12-month period June 1, 19X1 to May 311,, 19X2. The amount to <br />be reclassified to deferred revenue would be $44,000, representing 11/12ths of the total <br />amount. in July 19X1, the $44,000 would be! reclassified to revenue�,) Reclassification <br />entries shall be made by Auditor -Controller Agency Accounting units, or for those <br />agencies/departmen!ts/dist�ricts without such a unit, the agency/department/distri'ict shall notify <br />the Auditor -Controller of the amounts to be reclassified. <br />All County agencies/department/districts shall include al!I costs of providing contract <br />services in contract rates. Including all direct costs,, allocated indirect costs such <br />departmental and County (CWCAP) overhead, and cost of capital financing. I <br />i <br />Billing terms and provisions coed in existing contracting entity agreements (existing as <br />of the date this policy is approved by the Board of Supervisors) shall remain in effect for the <br />life of the contract. However, when these existing contracts are renegotiated, they shall <br />contain the biHing provisions as, set forth in this, policy. <br />Deviations from this, policy shall be approved by the Board of Supervisors. Propos <br />deviations by agencies/departiments/districts shall be submitted to the CEO for concurren <br />in advance of filing an, Agenda Item Transmittal (AIT) with the C�erk of the Board. The CE <br />or his1her designee, shall advise the agenc:y/d�epartment/distri�ct of approval' or disapprova <br />rd l <br />the proposed deviations. If a County age ncy/departme nVdistrict submits a contract to t <br />Boaof Supervisors for approv,al�, and the billing provisions in the contract deviate from th <br />A the agency/department/district shall specifically advise the Board of Supervisors <br />the AIT of the deviation, the reason for the deviation, and of the CEG's recommenclab <br />relative thereto. I <br />