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

Published byGeoffrey Ray Modified over 8 years ago

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Presentation on theme: "GASB Statement 54 Effective June 30, 2011 Fund Balance Reporting."— 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

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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 AccountsPTA/PTO Accounts Book Fair AccountsVending Accounts Library Fines/Fees ID Card Accounts Accounts

16 STUDENT ACTIVITY 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 Solution1,073,705.00 4th Street Expansion Escrow 81,013.70 Total 1,454,718.70

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