1. Governmental Financial Statement Preparation
Trainer: Anthony Gerharz, CPA
© Wipfli LLP

2. Materials/Disclaimer
Please note that these materials are incomplete without the accompanying oral comments by the trainer(s). These materials are informational and educational in nature and represent the speakers' own views. These materials are for the purchasing agency’s use only and not for distribution outside of the agency or publishing on a public website.

3. Outline
Today’s session we will go over the following and at the conclusion you should have a better understanding of the following:
Government Reporting Model
Management’s Discussion and Analysis
Including the necessary information
Required Supplemental Information
Budgetary Comparison Schedules
Pension Information
Other Post Employment Benefit Information
Supplemental Information
Commonly seen supplemental information
Schedule of Expenditures of Federal Awards
Transmittal Letter

4. Outline - Continued
Today’s session we will go over the following and at the conclusion you should have a better understanding of the following:
Understanding governmental financial statement
Discuss what make up required skills, knowledge, and experience (SKE)
Review governmental reporting
Differences between government-wide financial statements, fund financials, proprietary statements, internal service funds, and fiduciary statements
Major fund determination
Calculating each major fund
Reconciling
Preparing the reconciliation between Government-Wide Statements and Fund Statements

5. Governmental Reporting Model
© Wipfli LLP

6. Management’s Discussion and Analysis
Management’s Discussion and Analysis (MD&A)
Who wrote the MD&A?
What is the purpose of the MD&A?
Manager/District Clerk/Finance Individual of the Sample Government provides an overview of the financial position and governmental financial activities for the fiscal year ending June 30, Please read it in conjunction with our audit report financial statements. Certain comparative information between the current year and the prior year is required to be presented in the MD&A.
Prepare your own versus auditor prepared financials-Numbers
Missing info- new/old accounting pronouncements, comparative info, accrual vs modified, capital assets, modified approach to infrastructure GASB34, keep contact info up to date

7. Management’s Discussion and Analysis
Management’s Discussion and Analysis (MD&A)
Keyword here is condensed!
Summarize the district-wide statements only
Make sure you update terminology if there have been guidance changes
Ask your auditor about this
Prepare your own versus auditor prepared financials-Numbers
Missing info- new/old accounting pronouncements, comparative info, accrual vs modified, capital assets, modified approach to infrastructure GASB34, keep contact info up to date

8. Management’s Discussion and Analysis
Management’s Discussion and Analysis (MD&A)
Condensed Financial Information
Prepare your own versus auditor prepared financials-Numbers
Missing info- new/old accounting pronouncements, comparative info, accrual vs modified, capital assets, modified approach to infrastructure GASB34, keep contact info up to date

9. Management’s Discussion and Analysis
Management’s Discussion and Analysis (MD&A)
Condensed Financial Information
2017
2016
Expenses:
Regular programs
3,294,949
3,294,778
Special programs
713,771
753,487
Vocational programs
147,766
145,768
Adult education
6,407
4,982
Traffic education
3,979
4,885
Supportive services
1,055,088
1,129,527
Operations and maintenance
531,158
547,556
Student transportation
371,617
373,613
Food services
310,542
295,099
Extracurricular
195,923
189,526
Unallocated depreciation
7,205
7,614
Total expenses.
6,638,405
6,746,835
Prepare your own versus auditor prepared financials-Numbers
Missing info- new/old accounting pronouncements, comparative info, accrual vs modified, capital assets, modified approach to infrastructure GASB34, keep contact info up to date

10. Management’s Discussion and Analysis
Management’s Discussion and Analysis (MD&A)
Discuss any changes between the original, approved budget and the final budget
General description for any modifications
Highlight any large variances between final budgeted amounts and the actual amounts for the year
Prepare your own versus auditor prepared financials-Numbers
Missing info- new/old accounting pronouncements, comparative info, accrual vs modified, capital assets, modified approach to infrastructure GASB34, keep contact info up to date

11. Management’s Discussion and Analysis
Management’s Discussion and Analysis (MD&A)
Capital Assets
Annual balance in each category i.e. land, buildings, etc.
General information on capital additions or disposed assets
Annual depreciation expense
Debt Activity
Type of Debt i.e. Bonds, Capital Leases, Loans
Include general information i.e. Maturity dates and interest rates
Outstanding amounts at year end
Make sure to include your OPEB information and Pension information
Prepare your own versus auditor prepared financials-Numbers
Missing info- new/old accounting pronouncements, comparative info, accrual vs modified, capital assets, modified approach to infrastructure GASB34, keep contact info up to date

12. Management’s Discussion and Analysis
Management’s Discussion and Analysis (MD&A)
Capital Assets
Annual balance in each category i.e. land, buildings, etc.
General information on capital additions or disposed assets
Annual depreciation expense
Debt Activity
Type of Debt i.e. Bonds, Capital Leases, Loans
Include general information i.e. Maturity dates and interest rates
Outstanding amounts at year end
Make sure to include your OPEB information and Pension information

13. Management’s Discussion and Analysis
Management’s Discussion and Analysis (MD&A)
Make sure to highlight key changes that have happened or are expected to happen in the near future
Mill levies
Changes to tax base or valuations
Include significant items such as tax protests
Enrollment trends
Changes to state/federal funding
Be sure to include contact information for the entity
Accountant/Finance Director
Clerk
Mailing/Physical Address
Phone Number/ Address

14. Management’s Discussion and Analysis
What information does your district include that we may not have covered?

15. Required Supplemental Information
Budgetary Comparison Schedules
All major funds (General and Special Revenue Funds) should be shown in the RSI for budgetary comparisons
Approved, amended budgets versus actual results
GAAP reconciliation for any encumbrances incurred during the year
Prepare your own versus auditor prepared financials-Numbers
Missing info- new/old accounting pronouncements, comparative info, accrual vs modified, capital assets, modified approach to infrastructure GASB34, keep contact info up to date

16. Required Supplemental Information
GENERAL FUND
Original Budgeted Amounts
Final Budgeted Amounts
Actual Amounts
Variance
REVENUES
Taxes and assessments
$ 1,184,046
$ 1,189,134
$ ,088
Licenses and permits
1,750
2,430
680
Intergovernmental revenues
934,977
746,149
(188,828)
Charges for services
312,673
317,059
4,386
Fines and forfeitures
47,800
61,085
13,285
Miscellaneous revenues
7,820
30,274
22,454
Investment and royalty earnings
31,000
27,369
(3,631)
2,520,066
2,373,500
(146,566)
EXPENDITURES
General government
2,058,330
1,705,310
(353,020)
Public safety
1,439,844
1,327,773
(112,071)
Public health
171,638
144,028
(27,610)
Social and economic services
12,000
4,575
(7,425)
Culture and recreation
33,100
19,156
(13,944)
Miscellaneous
2,000
897
(1,103)
Capital outlay
6,300
5,263
(1,037)
Total expenditures
3,723,212
3,207,002
(516,210)
Excess (deficiency) of revenues over expenditures
(1,203,146)
(833,502)
369,644
OTHER FINANCING SOURCES (USES)
Proceeds from asset disposals
16,000 -
(16,000)
Transfers in
595,806
595,552
(254)
Total other financing sources and uses
611,806
(16,254)
Net change in fund balances
$ (591,340)
(237,950)
$ ,390
Fund balances, beginning of year
$ 1,832,284
Fund balances, end of year
$ 1,594,334
Adjustments to generally accepted accounting principles
Current year encumbrances included in expenditures
50,000
Fund balances, ending (GAAP basis)
$ 1,544,334
Prepare your own versus auditor prepared financials-Numbers
Missing info- new/old accounting pronouncements, comparative info, accrual vs modified, capital assets, modified approach to infrastructure GASB34, keep contact info up to date

17. Required Supplemental Information
Pension Information
Other Post Employment Benefits Information
Prepare your own versus auditor prepared financials-Numbers
Missing info- new/old accounting pronouncements, comparative info, accrual vs modified, capital assets, modified approach to infrastructure GASB34, keep contact info up to date

18. Supplemental Information
Unique requirements for every entity dependent on Statute
Common examples
Combining Schedules
Statistical Information
Other items required by Statute
Schedule of Expenditures of Federal Awards (SEFA)
Accumulating the necessary to information to prepare
Compiling the information
Assembling the information
Reporting the information

19. Supplemental Information
Step 1 – Accumulating the Information
Things you will need to get started:
Prior year SEFA
Internet access (CFDA website, UG website, Grantor/State website)
CFDA – Catalog of Federal Domestic Assistance
General ledger detailing expenses for all Federal programs
Final expenditure reports for all Federal programs

20. Supplemental Information
Step 1 – Accumulating the Information (cont.)
Establish a spreadsheet to enter SEFA data.
Basic columns needed: Project Reporter, Program Name, CFDA #, Oversight Agency (federal), Receipts, Disbursements.
Optional columns: Encumbrances, Program Receivables, Program Advances, Balance checks

21. Supplemental Information
Step 2 – Compiling the Information
Enter the financial data into the spreadsheet based on your core accounting system fund structure:
Revenues and expenditures are easily determined from financial reports and general ledger (include Indirect Costs)
The SEFA should be prepared on the same basis of accounting (i.e. cash, modified accrual) as the financial statements. Current year encumbrances should be removed from the total expenditures while adding any prior year encumbrances that have been paid.
If the program is funded by a combination of both federal and state or local funds, list only the federal share on the SEFA.

22. Supplemental Information
Step 3 – Assembling the Information
Reconcile the total revenues and expenditure to the accounting system and financial system/reports provided to the oversight agencies.
This ensures all federal activity is included on the SEFA.
During this process, additional federal revenues may be identified. These should be added to the SEFA also.

23. Supplemental Information
Step 3 – Assembling the Information (cont.)
Enter the corresponding CFDA number from the grant agreement
Each Federal program is assigned a unique CFDA number.
The complete CFDA number is a five digit number, XX.XXX
The first two digits represent the Funding Agency and the second three digits represent the program.
e.g
84 = Department of Education
.010 = Title I Grants to Local Educational Agencies
If the pass-through grantor failed to indicate the CFDA number, either contact the pass-through or use a key word search on the CFDA website to find it.
Some programs may be funded by more than one CFDA number. In that case, each CFDA has to be listed separately on its own line.

24. Supplemental Information
Step 3 – Assembling the Information (cont.)
Enter the name of the pass-through grantor if identified as a passthrough.
If received directly from the Federal government, enter “Direct”.
Example of indirect, receiving money from the State
U.S. Department of the Education
Passed through Montana Office of Public Instruction
Title I Grants to Local Education Agencies $100,000
Look up the CFDA number entered in from the Catalog of Federal Domestic Assistance website and enter the Federal grantor name and the program name.
Programs can be searched by CFDA # or keyword.
Enter the program name from the CFDA website, do NOT use the name given to the program by the District or passthrough agency.

25. Supplemental Information
Step 3 – Assembling the Information (cont.)
Sort the data by CFDA number so that all of the financial assistance from the same federal program is grouped together on the schedule. This will help with subtotaling by grantor as well.
Group all clusters together.
Provide subtotals for programs with the same CFDA numbers (e.g. Special Education or Title programs that have carryover funds/deadlines).
Provide a subtotal for each federal grantor.
Listed in order by direct funding and any respective passthrough agency
Provide a total for all federal programs.

26. Supplemental Information
Federal
Disbursements
Federal Grantor/Pass Through Grantor/
CFDA or
Program Title
Number
Expenditures
U.S. Department of Education
Passed Through The MontanaOffice of Public Instruction
Title I Grants to Local Education Agencies
84.010
396,000
Improving Teacher Quality State Grants
84.367
71,000
467,000
U.S. Department of Agriculture
Passed Through The Montana Office of Public Instruction
Fresh Fruits and Vegetable Program
10.582
36,000
Child Nutrition Cluster:
Cash Assistance:
National School Lunch Program
10.555
297,000
School Breakfast Program
10.553
128,000
Summer Food Service Program for Children
10.559
23,000
Cash Assistance Subtotal
448,000
Non-Cash Assistance (Commodities):
20,000
Total Child Nutrition Cluster
468,000
Total Department of Agriculture
504,000
Total Federal Financial Assistance
971,000

27. Supplemental Information
Step 4 – Reporting the Information
Notes to the SEFA should include these common disclosures:
Significant accounting policies used in preparing the schedule
Value of noncash assistance expended
Clusters of programs - groupings of closely related programs that have similar compliance requirements identified in the Uniform Guidance
Indirect Cost Rate Disclosure

28. Supplemental Information
Case Study
Your organization receives a grant from Wipfli University, which is a state university, they provide a grant award of $1,500,000, of which $1,000,000 is from the U.S. Department of Education and the remaining $500,000 is provided by the state:
What amount is shown on the SEFA?
How is the grant presented on the SEFA?

29. Supplemental Information
Case Study
Your Organization
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
For the fiscal year ended June 30, 2017
Federal
Grant/Contract Number
CFDA
Grantor Program Title
Number
Expenditures
U.S. Department of Education
Passed through Wipfli University
State Program
WU-RAG-2017
84.444
Total U.S. Department of Education
Total All Grants

30. Transmittal Letter Transmittal Letter What should it include?
Useful information in assessing the government’s economic status
Acknowledgements or awards (GFOA Certification)
Profile of the government
Transmittal of CAFR to the reader

31. Understanding Financial Statements
© Wipfli LLP

32. Skills, Knowledge, and Experience
To exhibit SKE, the designated individual should meet some or all of these:
Understanding of the nature of the service
Knowledge of the audited entity’s business
Knowledge of the audited entity’s industry
General business knowledge
Education, licenses, accreditations, and membership in professional organizations
Position at the audited entity
Understanding the reporting model
Smaller entity examples… no SKE

33. Governmental Reporting
Governmental Fund Types
General Fund
Special Revenue Funds
Capital Project Funds
Debt Service Funds
Permanent Funds

34. Governmental Reporting
Proprietary Fund Types
Enterprise Funds
Internal Service Funds
Fiduciary Fund Types
Custodial Funds – formally agency funds
Pension Trust Funds
Investment Trust Funds
Private Purpose Trust Funds

35. Major Fund Determination
Major Fund Defined
Major funds are funds whose revenues, expenditures/expenses, assets plus deferred outflow of resources, or liabilities deferred inflow of resources (excluding extraordinary items) are at least 10 percent of corresponding totals for all governmental or enterprise funds and at least 5 percent of the aggregate amount for all governmental and enterprise funds.
Any other fund may be reported as a major fund if the government's officials believe that fund is particularly important to financial statement users. Nonmajor funds should be reported in the aggregate in a separate column. Internal service funds also should be reported in the aggregate in a separate column on the proprietary fund statements. (GASB 34, paragraph 76)

36. Major Fund Determination Case Study
Total of Assets and Deferred Outflows of Resources (if applicable)
Total of Liabilities and Deferred Inflows of Resources (if applicable)
Revenues
Expenditures / Expenses
10% 5%
Required to Be a Major Fund?
Governmental Funds:
Elem. General Fund
101
1,000,000
100,000
7,800,000
7,730,000
Elem. Flexibility
129
245,000
170,000
120,000
Total General Fund
1,245,000
7,970,000
7,850,000
Elem Transportation
110
200,000
29,000
770,000
665,000
Elem School Food
112
20,000
675,000
680,000
Elem Tuition
113
16,000
5,000
140,000
160,000
Elem Retirement
114
225,000
1,110,000
Elem Miscellaneous Programs
115
380,000
1,280,000
1,240,000
Elem Adult Education
117
37,000
3,000
36,000
50,000
Elem Lease Rental
120
11,000
18,000
10,000
Elem Compensated Absence
121
46,000
1,000
55,000
Elem Technology
128
4,000
80,000
30,000
Elem Debt Service
150
65,000
35,000
7,950,000
1,260,000
Elem Building
160
Elem Building Reserve
161
430,000
Elem Interlocal
182
Total Governmental Funds
3,000,000
20,000,000
13,310,000
10% of total governmental funds
300,000
2,000,000
1,331,000
Enterprise Funds:
Total Enterprise Funds
10% of total enterprise funds
Total Governmental and Enterprise Funds
5% of total governmental and enterprise funds
150,000
665,500

37. Governmental Reporting
Government-wide Statements
Statement of Net Position
Statement of Activities
Component Units
Discretely Presented versus Blended
Governmental Funds Financial Statements
Governmental Funds Balance Sheet
Reconciliation between balance sheet and Statement of Net Position
Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances
Reconciliation between Statement and Statement of Activities
Gov. Wide Statements are prepared using the economic resources measurement focus and the ACCRUAL BASIS OF accounting. (Report Assets, Liabilities, Revenue and expenses and gains and losses of the Government) Fiduciary Activities not available to finance government programs s/b excluded.
Gov Fund Financials use the current financial resources measurement focus and modified accrual basis of accounting.
Gov Income statements keep in mind other financing sources/uses/transfers

38. Governmental Reporting
Proprietary Funds
Proprietary Statement of Net Position
Proprietary Statement of Revenues, Expenses, and Changes in Net Position
Proprietary Statement of Cash Flows
Internal Service Funds
Shown on the proprietary fund statements, but blended in with governmental activities of the government-wide statements, usually.
Eliminating due to/from and related revenue and expenses
Fiduciary Funds
Fiduciary Statement of Net Position
Fiduciary Statement of Revenues, Expenses, and Changes in Net Position

39. Reconciling Gov-Wide and Fund Statements
Reconciliation
Statement of Net Position to Governmental Funds Balance Sheet
All items that are shown on the government-wide that are not presented on the governmental funds level such as:
Fixed assets, net of accumulated depreciation.
Deferred outflows of resources related to long term liabilities.
Long term liabilities
Internal service fund activity
Unavailable tax revenues

40. Reconciling Gov-Wide and Fund Statements
Reconciliation
Statement of Activities to Governmental Funds Statement of Revenue, Expenditures, and Changes in Fund Balances
All items that are shown on the government-wide that are not presented on the governmental funds level such as:
Related accruals/expenses
Depreciation
Gain/loss on asset disposal
Capital Outlay
Pension activity
Debt payments
Change in taxes receivable
Donated assets
Internal service fund activity

41. Statement of Net Position
ASSETS:
Cash and equivalents
2,807,000
Taxes receivable
190,000
Due from other governments
18,000
Capital assets:
Land
430,000
Other capital assets, net of depreciation
16,000,000
Total capital assets
16,430,000
Total assets
19,445,000
DEFERRED OUTFLOW OF RESOURCES:
Pension contributions and related differences and changes
1,526,000
Total deferred outflow of resources
LIABILITIES:
Accounts payable and accrued expenses
20,000
Long-term liabilities:
Due within one year:
Bonds payable
730,000
Compensated absences
23,000
Due in more than one year:
7,250,000
440,000
Other postemployment benefits
2,625,000
Net pension liability
8,500,000
Total liabilities
19,588,000
DEFERRED INFLOW OF RESOURCES:
Pension related differences and changes
90,000
Total deferred inflow of resources
NET POSITION:
Net investment in capital assets
8,450,000
Restricted for:
Capital projects
434,000
35,000
Debt service
55,000
Other fund activities
1,188,000
Unrestricted
(8,869,000)
Total net position
1,293,000

42. Statement of Activities
Program Revenue
Charges for
Operating Grants
Net Revenue Expense
Program Activities
Expenses
Services
& Contributions
Governmental Activities
Instruction:
Regular programs
6,000,000
4,000
625,000
(5,371,000)
Special programs
886,000
805,000
(81,000)
Vocational programs
693,000
(693,000)
Adult education
36,000
(32,000)
Supporting services
2,900,000
(2,900,000)
Operations & maintenance
1,183,000
(1,183,000)
Student transportation
674,000
175,000
(499,000)
Food services
700,000
165,000
505,000
(30,000)
Extracurricular
30,000
Interest on long-term debt
445,000
(445,000)
Unallocated depreciation
15,000
(15,000)
Total governmental activities
13,562,000
173,000
2,110,000
(11,279,000)
General revenues:
Property taxes, levied for general purposes
4,000,000
County retirement distribution
1,000,000
State aid
Interest
35,000
Other
78,000
Special items:
Donated asset
230,000
Total general revenues
11,343,000
Change in net position
64,000
Net position - beginning
1,229,000
Net position - ending
1,293,000

43. Balance Sheet – Governmental Funds
General Fund
Transportation
School Food
Miscellaneous Programs
Debt Service
Building Reserve
Other Governmental Funds
Total Governmental Funds
ASSETS
Cash and equivalents
1,180,000
170,000
95,000
380,000
17,000
430,000
535,000
2,807,000
Taxes receivable
103,000
30,000
38,000
4,000
15,000
190,000
Due from other governments
18,000
Total assets
1,283,000
200,000
113,000
55,000
434,000
550,000
3,015,000
LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable
20,000
Total liabilities
Deferred inflows of resources:
Unavailable tax revenues
Total deferred inflows of resources
Fund balances:
Restricted for:
Other fund activities
93,000
500,000
1,143,000
Compensated absences
35,000
Debt service
Capital projects funds
Unassigned
Total fund balances
2,805,000
Total liabilities, deferred inflows of resources and fund balances

44. Reconciliation of the Governmental Funds Balance Sheet with the Governmental Wide Statement of Net Position
Total fund balance, governmental funds
2,805,000
Amounts reported for governmental activities in the statement of net position are different because:
Capital assets used in governmental activities are not current financial resources and therefore are not reported in this fund financial statement, but are reported in the governmental activities of the statement of net position.
Property taxes receivable that are not available to pay current period expenditures and therefore are not reported in this fund financial statement, but are reported in the governmental activities of the statement of net position.
Deferred outflows and inflows of resources are not current financial resources and therefore are not reported in this fund financial statement, but are reported in the governmental activities of the statement of net position.
Some liabilities, such as compensated absences, bonds payable, other postemployment benefits and net pension liability, are not included in the fund financial statement, but are included in the governmental activities of the statement of net position.
Net position of governmental activities in the statement of net position
1,293,000

45. Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds
General Fund
Transportation
School Food
Miscellaneous Programs
Debt Service
Building Reserve
Other Governmental Funds
Total Governmental Funds
REVENUES
Property taxes for general purposes
2,120,000
598,000
775,000
72,000
265,000
3,830,000
Tuition
3,000
4,000
7,000
Intergovernmental:
County
70,000
1,020,000
1,090,000
State
5,785,000
100,000
1,000
590,000
6,483,000
Federal
505,000
625,000
1,130,000
Interest on investments
15,000
2,000
5,000
6,000
37,000
Food services
165,000
Other
60,000
17,000
84,000
Total revenues
7,924,000
770,000
674,000
1,279,000
784,000
76,000
1,319,000
12,826,000
EXPENDITURES
Current:
Instruction
4,970,000
650,000
940,000
6,560,000
Supporting services
1,806,000
570,000
517,000
2,893,000
Operations and maintenance
1,008,000
55,000
87,000
1,151,000
Student transportation
665,000
11,000
676,000
680,000
681,000
Extracurricular
26,000
30,000
Capital outlay
45,000
145,000
190,000
Debt service
1,260,000
Total expenditures
7,855,000
1,221,000
200,000
1,560,000
13,441,000
Excess (deficiency) of revenues
over expenditures
69,000
105,000
(6,000)
58,000
(476,000)
(124,000)
(241,000)
(615,000)
OTHER FINANCING SOURCES (USES)
Operating transfers in
35,000
65,000
36,000
136,000
Operating transfers out
(36,000)
(100,000)
(136,000)
Total other financing sources and uses
(1,000)
Net change in fund balances
68,000
(59,000)
(205,000)
Fund balances - beginning
1,112,000
99,000
322,000
493,000
489,000
740,000
3,420,000
Fund balances - ending
1,180,000
170,000
93,000
380,000
430,000
535,000
2,805,000

46. Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balance Governmental Funds with Government-Wide Statements of Activites
Net change in fund balances - total governmental funds:
(615,000)
Amounts reported for governmental activities in the statement of activities are different because:
Governmental funds report outlays for capital assets as expenditures because such outlays use current financial resources. In contrast, the statement of activities reports only a portion of the outlay as expense. The outlay is allocated over the assets' estimated useful lives as depreciation expense for the period.
Governmental funds do not report the donation of an asset as revenue because it provides no current financial resources. In contrast, the statement of activities reports the donation of the donated assets. Thus, the change in net assets differs from the change in fund balance by the cost of the donated asset.
Governmental funds do not present revenues that are not available to pay current obligations. In contrast, such revenues are reported in the statement of activities when earned:
Taxes receivable
Statement of activities reports expenses that the governmental funds do not and are not reported as expenditures in the governmental funds:
Compensated absences expense
Other postemployment benefits
Pension expense, net of state on behalf pension payment
Governmental funds report expenses that the statement of activities do not and are not reported as expenditures in statement of activities:
Capital outlays
Principal payments on debt
Change in net position of governmental activities
64,000

47. Other Information Depreciation Expense By Function Instruction 590,000
Supporting services
6,000
Operations and maintenance
33,000
Food service
19,000
Unallocated
15,000
663,000
2017
2016
Taxes Recievable
190,000
110,000
Compensated Absences
463,000
540,000
OPEB
2,625,000
2,303,000
Pension expense net of state on behalf payments
259,000

48. Questions?
Contact Information
Anthony B Gerharz, CPA | Manager | Wipfli LLP
Direct: | Office: