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<br />. <br /> <br />. <br /> <br />. <br /> <br />ARKANSAS RIVER COMPACT ADMINISTRATION <br />NOTES TO CASH BASIS STATEMENTS <br />June 30, 1991 <br /> <br />NOTE 1 - Summd~Y of signific~nt dccounting 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, ce~tain revenues <br />are recognized when ~eceived ~ather than when <br />ea~ned, and ce~tain expenses and purchases of <br />assets a~e ~ecognized when cash is disbursed <br />rather than when the obligation is incurred. <br /> <br />5 <br /> <br />.~. <br />