Financial Statement Review (Public) - NACUBO

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GASB 63 - BACKGROUND INFORMATIONConcepts <strong>Statement</strong> 4 identifies 5 elements that make up astatement of financial position:• Assets• Liabilities• Deferred outflows of resources• Deferred inflows of resources• Net positionThis differs from the composition currently required by<strong>Statement</strong> 34, which requires the presentation of• Assets• Liabilities• Net assets28
GASB 63 - DISPLAY REQUIREMENTS• Deferred outflows of resources should be reported in aseparate section following assets• Deferred inflows of resources should be reported in aseparate section following liabilities• Net position components resemble the existingcomponents of net assets, but also include the effects ofdeferred outflows of resources and deferred inflows ofresources• Net investment in capital assets• Restricted• Unrestricted(University of California example)29
Page 6 and 7: MANAGEMENT DISCUSSION AND ANALYSIS
Page 8 and 9: Statement 60Accounting and Reportin
Page 10 and 11: SERVICE CONCESSION ARRANGEMENTSWhat
Page 12 and 13: SERVICE CONCESSION ARRANGEMENTSTRAN
Page 14 and 15: SERVICE CONCESSION ARRANGEMENTSWhat
Page 16 and 17: SERVICE CONCESSION ARRANGEMENTSOthe
Page 18 and 19: REPORTING ENTITYThe most significan
Page 20 and 21: REPORTING ENTITY• Current year is
Page 22 and 23: Statement 62Codification of Pre-Nov
Page 24 and 25: GASB 62 - BASIC GUIDANCE• Superse
Page 26 and 27: BASIC FINANCIAL STATEMENTS - GAAP
Page 30: GASB 63 - CURRENT DEFERRALS• Ther
Page 33 and 34: FOOTNOTES• Cash/Investmentso Inve
Page 35 and 36: FOOTNOTES• Capital assetso Roll-f
Page 37 and 38: FOOTNOES• Pension plans - commonl
Page 39 and 40: REQUIRED SUPPLEMENTARY INFORMATION
Page 41 and 42: The material appearing in this pres
Page 43: Thank You43

Financial Statement Review (Public) - NACUBO

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