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<br />NORTH METRO TELECOMMUNICATIONS COMMISSION <br />NOTES TO REQUIRED SUPPLEMENTARY INFORMATION <br /> <br />BUDGETARY INFORMATION <br /> <br />The Board of Commissioners adopts an mmual legal budget for the Commission's <br />enterprise funds. The budgets for the funds are prepared on the modified accrual basis <br />and includes capital outlays as expenses. Additionally, the funds do not include <br />depreciation as a budgetary expense. The reconciliation of the modified accrual basis to <br />GAAP basis is found at the bottom of the schedules. Budgetary level of control is <br />exercised at the overall budget level. <br /> <br />P.197 <br />