These illustrative statements provide examples of the basic financial
statements (and a budgetary comparison schedule as required supplementary
information) for a hypothetical independent school district. They
are illustrative only and should not be considered authoritative.
Management's discussion and analysis, notes to financial statements,
and other required contents are not presented; thus, this set of statements
does not meet the minimum requirements for GAAP financial statements
and required supplementary information.
Exhibits 1 and 2 present
alternative approaches for the level of detail displayed for governmental
activities in the statement of activities. Exhibit
1 presents only the functional categories used in the fund financial
statements. Exhibit 2 illustrates a higher
level of program detail. Paragraph 40 in Statement 34 states: "Governments
are encouraged to provide data in the statement of activities at
a more detailed level if the additional detail provides more useful
information without significantly reducing readers' ability to understand
the statement."
Exhibits 1 through 12 are printed with permission from the following source,
"Appendix 2: Illustrative Financial Statements, Illustration B:
Independent School District from Guide to Implementation of GASB
Statement 34 on Basic Financial Statements-and Management's Discussion
and Analysis-for State and Local Governments, copyright by Governmental
Accounting Standards Board, 401 Merritt 7, P.O. Box 5116, Norwalk,
Connecticut 06856-5116, U.S.A., is reprinted with permission. Complete
copies of this document are available from the GASB."
|
|
Basic Financial Statements |
| |
| Exhibit 1 |
Statement of Net Assets |
| |
| Exhibit 2 |
Statement of Activities (same level of detail as presented
in the fund financial statements) |
| |
| Exhibit 3 |
Statement of Activities (expanded level of detail) |
| |
| Exhibit 4 |
Balance Sheet-Governmental Funds |
| |
| Exhibit 5 |
Reconciliation of the Governmental Funds Balance Sheet to
the Statement of Net Assets |
| |
| Exhibit 6 |
Statement of Revenues, Expenditures, and Changes in Fund Balances—Governmental
Funds |
| |
| Exhibit 7 |
Reconciliation of the Governmental Funds Statement of Revenues,
Expenditures, and Changes in Fund Balances to the Statement
of Activities |
| |
| Exhibit 8 |
Statement of Net Assets—Proprietary Funds |
| |
| Exhibit 9 |
Statement of Revenues, Expenses, and Changes in Fund Net Assets—Proprietary
Funds |
| |
| Exhibit 10 |
Statement of Cash Flows—Proprietary Funds |
| |
| Exhibit 11 |
Statements of Fiduciary Net Assets and Changes in Fiduciary
Net Assets |
| |
| Required Supplementary Information |
| |
| Exhibit 12 |
Budgetary Comparison Schedule—General Fund |
|
