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<br />< <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />ARKANSAS RIVER COMPACT ADMINISTRATION <br />NOTES TO CASH BASIS STATEMENTS <br />June 30, 1990 <br /> <br />NOTE 1 - Summa~y of significant accounting policies: <br /> <br />a. The Administ~ation maintains financial ~eco~ds <br />using the cash basis of accounting. By using <br />the cash basis of accounting, certain revenues <br />a~e recognized when received ~ather than when <br />earned, and ce~tain expenses and purchases of <br />assets a~e ~ecognized when cash is disbursed <br />~ather than when the obligation is incur~ed. <br /> <br />5 <br />