1. Local Government Corp GASB 54 YE Changes Local Government Corp. Changes to Fiscal Year End June 30, 2011

2. Local Government Corp GASB 54 YE Changes Review of YE Closing June 30th Payroll > Leave balances, FY deduction times taken Purchasing > Close PO’s to Prior Year Run June month end Run Fiscal Year End

3. Local Government Corp GASB 54 YE Changes

4. Local Government Corp GASB 54 YE Changes GASB 54 Reporting 34120-Reserved for encumbrances 34990-Reserverd for other 39000-Undesignated Fund Balance 34200-Nonexpendable 34500-Restricted 34600-Committed 34700-Assigned 34900-Unassigned

5. Local Government Corp GASB 54 YE Changes Changes to Fund Balance GASB 54 34200-Nonexpendable 34500-Restricted 34600-Committed 34700-Assigned 34900-Unassigned July to June: 34120-Reserved for encumbrances 34990-Reserverd for other general purposes 39000-Undesignated Fund Balance Copy Files for GASB reporting Journal Entry to Restate Equity Balances

6. Local Government Corp GASB 54 YE Changes Software Changes Flexgen> Copy of data files Zortec and NextGen> 13 th Month

7. Local Government Corp GASB 54 YE Changes Summary Minimal changes to YE closing process No change to YE documentation New user: GASB54 Entries Reporting No system time limit on GASB 54 reporting YE update to include GASB 54 changes

8. Local Government Corp GASB 54 YE Changes Questions?