Laserfiche WebLink
11/08/2010 <br />GASB 54 Fund Balance Reporting <br />• New fund balance classifications: <br />- Nonspendable - (ex. prepaid items, irrventory) <br />- Restricted - (ex. debt service, park dedication fees) <br />- Committed - (ex. library, economic development) <br />- Assigned - (ex. 2010 budget) <br />- Unassigned - (ex. cash flow) <br />J <br />GASB 54 Fund Balance Reporting <br />• Current standard vs. new standard <br /> Nonspendable <br />Reserved Restricted <br /> Committed <br />Unreserved <br />- Designated ~ Assigned <br />- Undesignated Unassigned <br />GASB 54 Governmental Fund Type Definitions <br />• Special Revenue Fund Analysis: <br />o Are the fund's expenditures capital in nature? <br />a Is there at least one restricted or committed revenue source? <br />(Interest and transfers are excluded from a revenue source) <br />o Is the revenue source substantial and expected to continue? <br />e If the resources no longer qualify as a special revenue fund: <br />• ltvo options - <br />a General fund <br />> Mother fund with a similar purpose <br />L 'I <br />2 <br />