1. Government-Wide Financial Reporting l Level One Financial Statements l Accrual Basis of Accounting l Economic Resources Measurement Focus l General Government Fixed assets and long-term debt are reported in these statements

2. Financial Statements l Statement of Net Assets Separate columns for Governmental Activities, Business-Type Activities, Totals, and Discretely Presented Component Units (p. 236) l Statement of Activities (p. 238) Separate columns for expenses, program revenues, and net (expense) revenue for Governmental Activities and Business-Type Activities

3. GW Reporting l Reporting Peculiarities GFA and GLTD included and reported only on GW financial statements Depreciation of GFA recorded in GW Statement of Activities only Enterprise Fund activities flow through to business-type activities on GW Statements Internal Service Fund activities flow through to governmental activities on GW Statements

4. Reporting, Continued l Internal Service Fund inter-fund (p. 234) transactions must be eliminated before put on GW financial statements l If the government has only business- type activities, then they prepare only Fund financial statements l Fiduciary Funds are not a part of GW Financial Statements

5. Reporting, Continued l General Fixed Assets are reported as Capital Assets, net of Depreciation l Net Asset breakdown is Invested in Capital Assets, Net of Related Debt Restricted (Covenants or Law) Unrestricted l General LTD reported in GW Statement of Net Assets

6. Reporting, Continued l Reconciliation items GFA and GLTD Deferred Revenue Unrecorded Liabilities (Compensated absences other than current period) Special items such as sale of land l What is reconciled Fund balances Govt Funds to Net Assets Ch in FB Govt Funds to Ch in Net Assets

7. Reporting, Continued l Reconciliation Schedule is reported Face of Fund Financial Statements, or Notes to Financial Statements l Infrastructure must be capitalized and reported with other fixed assets Retrospectively and Prospectively Prospectively only for less than $10 million revenue

8. GW Reporting l Collections Capitalization encouraged but not required Disclosures required l Statistical Information Schedule of changed in LTD Annual DS requirements Legal Debt Margin Schedule

9. Computation of Debt Margin l Assessed value of property within jurisdiction (Real and personal) l Apply Debt Limit % l =Debt Limit l All applicable debt (GO Bonds) l Less: Debt service fund assets l Subtract from debt limit (Q 8-3:10)

10. Schedule of Direct and Overlapping Debt l Direct: 100% of debt owed by entity (I.e., city) Divide by population = Per capita debt l Overlapping: Percentage of assessed valuation of property in entity to property in overlapping (I.e., county) entity Percentage times total overlapping debt Divide by population of city = Per capita