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Governmental Accounting

In: Business and Management

Submitted By kappy28
Words 346
Pages 2
3-1 Vancouver, Washington
a) Look at the Statement of revenues, Expenditures, and Changes in Fund Balances for the governmental funds. List the revenue source classes. Do they agree with those sources discussed in this chapter? Are expenditures reported by character? List the functional classifications under the current character classification. Do those classifications agree with those listed in the example shown in this chapter? Are Other Financing Sources and Uses presented separately? Does your report show transfers in? Transfers out? Capital leases? Proceeds of bonds? property, sales and use, and other taxes, license and permits, intergovernmental, charges for services, fines and forfeitures, investment earnings, rents and royalties, contributions/donations, and miscellaneous. Yes. Yes. General government, judicial, security/person & property, physical environment, mental and physical health, and culture and recreation. Yes. Yes. Yes. Yes. No. No.
b) Look at the Budgetary Comparison Schedule in the RSI section of your annual Report (or Budgetary Comparison Statement, if that is used by your government) for the General Fund. Is the budgetary format used, or is the schedule in the format used for the Statement of Revenues, Expenditures, and Changes in Fund Balances? Does the report reflect the original budget, revised budget, and actual figures? Are variance columns presented comparing the actual with the revised budget and comparing the original with the revised budget? Is reconciliation between the budgetary basis of accounting and GAAP presented on the budgetary comparison schedule or in a separate schedule? What are the major differences, if any? Are budgetary comparison schedules (or statements) presented for special revenue funds? Are all special revenue funds included? The format used is the statement of revenues,...

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