County authority accounts

Working capital

The county authority accounts is a working capital oriented account, whereby the operational accounts shows both the acquirement and application of funds. The working capital is the difference between liquid assets and short-term liabilities. The county authority accounts therefore shows the capability of the county to pay-off both the short- and long term debts.

Modified accrual basis principle

A fundamental principle of the county authority accounts is that the accounts are kept on a modified accrual basis. All known revenues and expenditures in the period must be included in the accounts for the concerning years, whether they are paid or not at the accounts closure. The time of payment is not significant for the accounts, but the time of acquisition and use.

Yearly county authority accounts

The yearly county authority accounts are the basics for the statistics, which is included in this publication. This includes operating accounts, capital accounts and balance sheets accounts.

Operating account

The operating account includes revenues and expenditures, and also includes repayment etc.

Capital account
The capital account includes investment expenditures and shows how these are financed by use of loans and other means of investment.

Balance sheet account
The balance sheet accounts show a summary of property (current and fixed assets) and debt and net capital (short-term debt, long-term debt, net capital and memorandum accounts). In the balance account, the counter sector will also be stated.

Account category
The account category divides the operational, capital and balance sheet accounts. Category 1 and 3 states the operational account, category 0 an 4 states the capital account and category 2 and 5 states the balance sheet account.

Function
Function states which objective revenues and expenditures are according to, for instance administration, secondary education and dental health care. See Codelist for Accounting functions for a complete list of the functions in use.

Types
Types define different expenses and revenues. They consist of these main categories:

Expenses
-Wage
-Social expenditure
-Purchase of goods and services included in county service production
-Purchase of goods and services replacing county service production
-Grants
-Financial expenditure/financial transactions

Revenues
-Sales revenues
-Grants subject to return service
-Government and other grants not subject to return service
-Financial expenditure/financial transactions

The classification by type also includes types that are meant to specify transactions between counties and county associated companies and inter-county companies. The objective with these types is to consolidate between the purchase and sale internally between counties and county units with separate consolidated accounts.

See Codelist for KOSTRA accounting types and balance post for a complete list of the types in use.

Classification of county authority

Codelist for County groups

Codelist for Accounting functions

Codelist for KOSTRA accounting types and balance post

Codelist for KOSTRA accounting classes