![]() Each set should contain basic financial statements (including notes) and RSI (including MD&A). The following diagram illustrates the minimum requirements for general purpose external financial reports.Ĥ.1.1.20 Comparative financial statements mean two complete sets of financial statements for each comparative year. The requirements for financial reporting in accordance with generally accepted accounting principles (GAAP) are established by the Governmental Accounting Standards Board (GASB) in the GASB Statement 34, Basic Financial Statements – and Management’s Discussion and Analysis – for State and Local Governments. Management Discussion and Analysis (MD&A)īasic financial statements - Government-wide financial statementsīasic financial statements - Fund financial statementsįinancial reporting entity flowchart and notes Open Required Supplementary Information (RSI) sub menuĤ.1 Reporting Principles and RequirementsĤ.1.1 GAAP Reporting Requirements Quick Links Note X – Violation of Finance-Related Legal and Contractual Provisions.Note X – Unique and Unusual Transactions.Note X − Third Party Contractual Agreements.Note X – Subscription Based Information Technology Arrangements (SBITA).Note X – Service Concession Arrangements.Note X – Risk Pools – Risk Financing Limits.Note X – Risk Pools – Members’ Supplemental Assessments and Credits.Note X – Risk Pools – Excess Insurance Contracts/Reinsurance.Note X – Risk Management (for participating member of pool).Note X – Restricted Component of Net Position.Note X – Reconciliation of Government-Wide and Fund Financial Statements.Note X – Receivable and Payable Balances.Note X – Public-Private and Public-Public Partnerships (Transferor).Note X – Public-Private and Public-Public Partnerships (Operator).Note X – Pollution Remediation Obligations.Note X – Pledges and Sales of Future Revenues.Note X – Pensions – State Sponsored (DRS) Plans.Note X – Pensions - Defined Benefit Plans - Qualifying Trust.Note X – Pensions - Defined Benefit Plans – No Qualifying Trust.Note X – Pension and/or OPEB Plans - Nongovernmental Plans.Note X – Pension and/or OPEB Plans - Defined Contribution.Note X – Paid Family Medical Leave Act Self-Insurance.Note X – OPEB Defined Benefit Plan - Qualifying Trust.Note X – OPEB Defined Benefit Plan - No Qualifying Trust.Note X – Interfund Balances and Transfers.Note X – Extraordinary and/or Special Items.Note X – External Investment Pool (Counties Only).Note X – Construction and Other Significant Commitments.Note X – Closure and Postclosure Care Cost.Note X – Changes in Long-Term Liabilities.Note X – Asset Retirement Obligations (ARO).Note X – Accounting and Reporting Changes.Note 1 – Summary of Significant Accounting Policies.Coming in Fiscal Year 2024 (GAAP and Cash).Coming in Fiscal Year 2023 (GAAP and Cash).Use of Deadly Force Investigation Reports.
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