Acton-Boxborough Regional School District Notes to Basic Financial Statements Year Ended June 30, 2024
U.S. treasury bonds, bond mutual funds, equity mutual funds, and money market mutual funds classified in Level 1 of the fair value hierarchy are valued using prices quoted in active markets for those securities. Government sponsored enterprises, and corporate bonds classified in Level 2 of the fair value hierarchy are valued using a matrix pricing technique. Matrix pricing is used to value securities based on the securities’ relationship to benchmark quoted prices. MMDT investments are valued at amortized cost. Under the amortized cost method, an investment is valued initially at its cost and adjusted for the amount of interest income accrued each day over the term of the investment to account for any difference between the initial cost and the amount payable at its maturity. If amortized cost is determined not to approximate fair value, the value of the portfolio securities will be determined under procedures established by the Advisor. NOTE 3 – RECEIVABLES As of June 30, 2024, receivables for the individual major governmental funds and nonmajor governmental funds in the aggregate are considered to be 100% collectible and therefore do not report an allowance for uncollectible amounts and include the following:
Allowance
Gross
for
Net
Amount
Uncollectibles
Amount
Departmental and other……………………$ Intergovernmental…………………………
36,143$
- $
36,143
3,402,913
-
3,402,913
Total……………………………………… $ 3,439,056 $ - $ 3,439,056 Governmental funds report deferred inflows of resources in connection with receivables for revenues that are not considered to be available to liquidate liabilities of the current period. As of June 30, 2024, there were no elements that qualified for reporting in this category.
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