1 / 18

GASB Statement 54

GASB Statement 54, effective June 30, 2011, transforms fund balance reporting for government entities, including the General Fund, Management Fund, Student Activity Fund, Physical Plant and Equipment (PPEL), and Sales Tax Fund. It introduces classifications like committed and assigned fund balances, essential for board resolutions and financial management. This statement guides entities in categorizing their funds to enhance transparency and accountability. Key applications include managing specific resources and ensuring adherence to board goals for financial solvency and strategic project assignments.

mikkel
Télécharger la présentation

GASB Statement 54

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. GASB Statement 54 Effective June 30, 2011 Fund Balance Reporting

  2. GASB Statement 54 Effects all Government Funds • General Fund • Management Fund • Student Activity Fund • Physical Plant and Equipment (PPEL) • Sales Tax Fund

  3. GASB Statement 54

  4. GASB Statement 54

  5. GASB Statement 54

  6. GASB Statement 54

  7. GASB Statement 54

  8. GASB Statement 54

  9. GASB Statement 54

  10. GASB Statement 54

  11. GASB Statement 54

  12. GASB Statement 54

  13. GASB Statement 54

  14. RECOMMENDATIONS Committed Vs Assigned Board: Committed Superintendent: Assigned Dir of Business Affairs: Assigned

  15. GENERAL FUND Committed: Board Goals-Regarding unspent balance and solvency ratio (need board resolution) Donation with a specific purpose Assigned: Resale Accounts PTA/PTO Accounts Book Fair Accounts Vending Accounts Library Fines/Fees ID Card Accounts Accounts

  16. STUDENTACTIVITY Assigned: Student clubs/class accounts Student resale accounts Sport camps account

  17. MANAGEMENT FUND Unassigned PHYSICAL PLANT & EQUIPMENT (PPEL) Assigned by project

  18. Sales Tax Fund Committed: Will need board resolution Assigned by project 6/30/2012 Attendance Center Solution 1,073,705.00 4th Street Expansion Escrow 81,013.70 Total 1,454,718.70

More Related