FINANCIAL STATEMENT PRESENTATION AND DISCLOSURES …cacubo.org/wp-content/uploads/2018/05/GASB-Disclosure-Checklist.pdf · FINANCIAL STATEMENT PRESENTATION AND DISCLOSURES CHECKLIST

© 2017 CCH Incorporated and/or Its Affiliates. All Rights Reserved. KBA-901 Page 1 Knowledge-Based Audits of Governmental Entities

FINANCIAL STATEMENT PRESENTATION AND DISCLOSURES CHECKLIST

Beginning of Form PURPOSE This form has been designed to help the auditor determine whether the financial statements include the presentations and disclosures required by generally accepted accounting principles in regards to government-wide and fund financial statements as well as management’s discussion and analysis (MD&A) and other required supplementary

information. INSTRUCTIONS This checklist is intended to be used as a guide for determining whether the financial statements of general-purpose state and local government entities include the primary presentation and disclosure requirements of accounting principles generally accepted in the United States of America (U.S. GAAP). This checklist is not designed for special-purpose governments such as risk entity pools or pension or other postemployment benefit plan financial statements. The form is current through GASB Statement No. 82, Pension Issues - An amendment of GASB Statements No. 67, No. 68, and No. 73 as well as the GASB Implementation Guide Update 2016-1 . Most of the questions addressed in this checklist refer to specific authoritative literature and may use the following acronyms:

GASB—Governmental Accounting Standards Board Statement GASB Cod. Sec.—Governmental Accounting Standards Board Codification of Governmental Accounting

and Financial Reporting Standards GASBI—Governmental Accounting Standards Board Interpretation GTB—Governmental Accounting Standards Board Technical Bulletin GCON—Governmental Accounting Standards Board Concepts Statement NCGA—National Council on Governmental Accounting NCGAI—National Council on Governmental Accounting Interpretation AAG-SLG— AICPA Audit and Accounting Guide, "State and Local Governments" AAG-SLA— AICPA Audit Guide “Government Auditing Standards and Circular A-133 Audits” SAS—AICPA Statement on Auditing Standards AU-C (or AU)—Statement on Auditing Standards, Professional Standards, published by the AICPA CON—Financial Accounting Standards Board Concepts Statement

Some of the questions included in the checklist do not refer to any specific authoritative literature. Nevertheless, the disclosure items they address are considered informative disclosures for users of the financial statements and usually are disclosed. These disclosures are generally accepted by accountants and auditors and, accordingly, are referenced as “Generally Accepted Practice” in this checklist. The auditor should review the topics within the table of contents for possible disclosures. For each topic that is applicable, the auditor should then select “Item Present;” otherwise, he or she should select “Item Not Present.” For each topic marked “Item Present,” the auditor should complete the individual checklist items by selecting “Yes,” “No,” or “N/A” (not applicable). Any item marked “No” should be explained in the checklist or in a separate memorandum. For topics marked “Item Not Present,” individual checklist items will not be shown.


FINANCIAL STATEMENT PRESENTATION AND DISCLOSURES CHECKLIST

Purpose and Instructions

CLIENT NAME: University of Northern Colorado

BINDER NAME: University of Northern Colorado

DATE OF FINANCIAL STATEMENTS: June 30, 2017

TABLE OF CONTENTS

Item Present/ Not

Present Comment

Government Wide Financial Statements Not Present

Fund Level Financial Statements Item Present

General Financial Reporting Matters Item Present

Governmental Funds Not Present

Proprietary Funds Item Present

Fiduciary Funds Not Present

MD&A and Other Required Supplementary Information Item Present

General Financial Reporting Matters Item Present

Management's Discussion and Analysis Item Present

Budgetary Comparison Information Not Present

Information on the Modified Approach for Eligible Infrastructure Assets

Not Present

Pension Plan Information—Plan Reporting Item Present

o Defined Benefit Pension Plans Item Present

Pension Information—Employer Reporting Item Present

o RSI—Defined Benefit Pension Plans: All Single and Agent Employers

Not Present

o RSI—Defined Benefit Pension Plans: All Cost-Sharing Employers

Item Present

o RSI—Defined Benefit Pension Plans—Special Funding Situations

Not Present

Pension Information—Plan and Employer Reporting (in accordance with GASB-73 where an Irrevocable Trust or Equivalent Arrangement is NOT present)

Not Present

bsteven

Text Box


Item Present/ Not

Present Comment

Other Postemployment Benefits – Plan Reporting (in accordance with GASB-74 )

Choose an item

Other Postemployment Benefits Funding Information—Employer Reporting (in accordance with GASB-45 )

Item Present

Other Postemployment Benefits - Employer Reporting (in accordance with GASB-75 upon implementation)

Choose an item

Information on Public Entity Risk Pools - Sponsoring Government

Not Present

General Financial Statement Presentation and Disclosure Matters

Item Present

Accounting Changes and Correction of Errors Not Present

Accounts and Notes Receivable Item Present

Bankruptcy Disclosures Not Present

Capital Assets, Depreciation, and Related Activity Item Present

Cash, Investments, and Related Income and Activity Item Present

Combinations and Disposals of Government Operations Not Present

Commitments, Contingencies, Estimates, and Concentrations Item Present

Compliance and Other Specific Disclosures Not Present

Derivative Instruments Not Present

Escheat Property Not Present

Financial Reporting Entity, Component Units, Joint Ventures, and Other Organizations

Item Present

Going Concern Disclosures Not Present

Information about Deferred Outflows and Deferred Inflows of Resources and the Effect on Net Position

Item Present

Interfund and Internal Transactions and Balances Not Present

Inventories Item Present

Landfill Closure and Postclosure Care Costs Not Present

Leases Item Present

Lessors Not Present

Lessees Item Present

Lending and Mortgage Banking Activities Not Present

Liabilities and Long-Term Debt Item Present

Nonexchange Transactions Item Present


Item Present/ Not

Present Comment

Nonexchange Financial Guarantees Not Present

Pensions - Employer Reporting Item Present

Defined Benefit Pensions—Single and Agent Employers

Not Present

Defined Benefit Pensions—Cost-Sharing Employers Item Present

Defined Benefit Pensions—Special Funding Situations: Governmental Nonemployer Contributing Entities

Not Present

Defined Benefit Pensions— Nonemployer Entity’s Legal Obligation for Contributions Directly to a Pension Plan Does Not Meet the Definition of a Special Funding Situation

Not Present

Defined Contribution Pensions—Employers That Do Not Have a Special Funding Situation

Not Present

Defined Contribution Pensions—Special Funding Situations

Not Present

Pensions—Employer Reporting – Where Pensions are NOT Administered through a Trust or Equivalent Arrangement ( GASB-73 )

Item Present

Note Disclosure for Pensions in Stand-Alone Financial Statements of Primary Governments and Component Units That Provide Pensions Through the Same Defined Benefit Pension Plan – In Situations Without a Trust or Equivalent Arrangement

Item Present

For Governmental Nonemployer Contributing Entities to Plans That Do Not Have a Trust or Equivalent Arrangement in Accordance with GASB-73

Item Present

For Governmental Nonemployer Contributing Entities That Recognize Less than a Substantial Proportion of Total Pension Liability, That Contribute to Plans That Do Not Have a Trust or Equivalent Arrangement in Accordance with GASB-73

Item Present

Insured Plans in Accordance with GASB-73 Not Present

Defined Contribution Plans Without Trusts in Accordance with GASB-73

Not Present

For Employers That Contribute to So-Called ‘Taft-Hartley’ Plans

Not Present

Pensions—Plan Reporting Not Present

Postemployment Benefits Other Than Pensions - Employer Reporting ( GASB-45 )

Item Present

Postemployment Benefits—Employer Reporting (upon Item Present


Item Present/ Not

Present Comment

implementation of GASB-75 )

Defined Benefit OPEB—Single and Agent Employers Item Present

Defined Benefit OPEB—Cost-Sharing Employers Item Present

Defined Benefit OPEB Employers—Special Funding Situations: Governmental Nonemployer Contributing Entities

Item Present

OPEBs – Employer Reporting – Where OPEB Is NOT Administered Through a Trust or Equivalent Arrangement

Item Present

OPEB in Stand-Alone Financial Statements of Primary Governments and Component Units That Provide OPEB through the Same Defined Benefit OPEB Plan Note Disclosure

Item Present

For Governmental Nonemployer Contributing Entities That Recognize a Substantial Portion of the Collective Total OPEB Liability

Item Present

Governmental Nonemployer Contributing Entities That Recognize a Less-Than-Substantial Proportion of the Collective Total OPEB Liability

Item Present

Insured Benefits Item Present

Defined Contribution OPEB – No Special Funding Situation

Item Present

Defined Contribution Plans – Employers with Special Funding Situations – Governmental Nonemployer Contributing Entities

Item Present

Postemployment Benefits Other Than Pensions—Plan Reporting ( GASB-74 )

Item Present

Defined Benefit OPEB Plans Item Present

Defined Contribution OPEB Plans Item Present

Pollution Remediation Obligations Not Present

Regulated Business-Type Activities Not Present

Research and Development Arrangements Not Present

Retail Land Sales Operations Not Present

Risk Financing and Related Issues – Entities Other Than Risk Pools

Not Present

Sales and Pledges of Receivables and Future Revenues Item Present

Segment Disclosures Not Present

Service Concession Arrangements Not Present


Item Present/ Not

Present Comment

Special Assessments Not Present

Subsequent Event Disclosures Item Present

Tax Abatement Disclosures Not Present

Termination Benefits Not Present

Do not delete this area of work paper Do not delete this area of work paper Do not delete this area of work paper

General Financial Reporting Matters Yes, No, N/A

1. To the extent applicable, does the entity report governmental, proprietary, and fiduciary funds that meet the generally accepted criteria for those funds? [ GASB 34, par. 63 ( GASB Cod. Sec. 1300.102 ) ]

Yes

2. Following the government-wide financial statements, are financial statements presented for the three fund categories—governmental, proprietary, and fiduciary, to the extent those fund categories are applicable? [ GASB-34, par. 6b(2) and 74 ( GASB Cod. Secs. 2200.102b(2) and .151 ) ]

N/A

3. Are the governmental fund financial statements presented using the current financial resources measurement focus and the modified accrual basis of accounting? [ GASB-34, par. 79 ( GASB Cod. Sec. 1300.102a ) ]

N/A

4. Are the proprietary fund financial statements presented using the economic resources measurement focus and the accrual basis of accounting? [ GASB-34, par. 92 ( GASB Cod. Sec. 1300.102b and P80.102 ) ]

Yes

5. Are the fiduciary fund financial statements reported using the economic resources measurement focus and the accrual basis of accounting? [ GASB-34, par. 107 ( GASB Cod. Sec. 1300.102c ) ]

N/A

Do not delete this area of work paper

Proprietary Funds Yes, No, N/A

1. Are proprietary fund financial statements limited to presenting enterprise funds and internal service funds, to the extent applicable? [ GASB-34, pars. 67–68 ( GASB Cod. Secs. 1300.109–110 ) ]

Yes

2. Are enterprise funds used to report:

a. Only activities for which a fee is charged to external users for goods or services?

b. Activities that are financed with debt that is secured solely by a pledge of the

Yes



net revenues from fees and charges to external users for the activity?

c. Activities for which laws or regulations require that the activity's costs of providing services, including capital costs (such as depreciation or debt service), be recovered with fees and charges to external users?

d. Activities with pricing policies that establishes fees and charges to external users designed to recover its costs, including capital costs?

[ GASB-34, par. 67 ( GASB Cod. Sec. 1300.109 )

3. Are internal service funds used to report:

a. Activities that provide goods or services to other funds, departments, or agencies of the primary government and its component units?

b. Activities that provide goods or services to other governments on a cost reimbursement basis and for which the reporting government is the predominant participant in the activity?

[ GASB-34, par. 68 ( GASB Cod. Sec. 1300.110 )

N/A

4. Do the proprietary fund financial statements: Yes

a. Consist of a statement of net position; a statement of revenues, expenses, and changes in fund net position; and a statement of cash flows? [ GASB 63, par. 7 ; GASB-34, par. 91 ( GASB Cod. Sec. 1300.102b , 2200.164 , and P80.106 ) ]

Yes

b. Present the financial information of each major enterprise fund in a separate column? [ GASB-34, par. 75 ( GASB Cod. Secs. 2200.152 and P80.107 ); GASB-34, par. 96 ( GASB Cod. Secs. 2200.165 and P80.111 ) ]

N/A

c. Display major funds and aggregated nonmajor enterprise funds in a single column? [ GASB-34, par. 75-76 ( GASB Cod. Secs. 2200.152 and P80.107 ); GASB-34, par. 96 ( GASB Cod. Secs. 2200.165 and P80.111 ) ]

N/A

d. Display a total column for all enterprise funds? [ GASB-34, par. 96 ( GASB Cod. Secs. 2200.165 and P80.111 ) ]

N/A

e. Display the aggregate internal service funds in a single column to the right of the total enterprise funds column? [ GASB-34, par. 96 ( GASB Cod. Secs. 2200.165 and P80.111 ); GASB-34, fn. 35 ( GASB Cod. Secs. 2200.152, fn. 24 , and P80.107, fn. 5 ) ]

N/A

f. Present summary reconciliations to the business-type activities column of the government-wide financial statements, if there are reconciling differences, on the face of the financial statements or in accompanying schedules? [ GASB-34, par. 77 ( GASB Cod. Secs. 2200.154 and P80.109 ); GASB-34, par. 104 ( GASB Cod. Secs. 2200.173 and P80.110 ) ]

N/A

5. Does the statement of net position: Yes

a. Use either in a format that presents assets, plus deferred outflows of resources, less liabilities, less deferred inflows of resources, equals net position; or use a balance sheet format (assets plus deferred outflows of resources equals liabilities plus deferred inflows of resources, plus net position)? [ GASB 63, par. 8 ; GASB-34, par. 98 ( GASB Cod. Secs. 2200.167 and P80.113 ) ]

Yes

b. Present amounts that are required to be reported as deferred outflows of resources in a separate section following assets? [ GASB 63, par. 7 ]

Yes



c. Present amounts that are required to be reported as deferred inflows of resources in a separate section following liabilities? [ GASB 63, par. 7 ]

Yes

d. Present assets and liabilities in a classified format to distinguish between current and long-term pursuant to the classifications defined in pars. 30 through 44 of GASB 62 ? [ GASB-34, par. 97 ; GASB 62, pars. 30–44 ( GASB Cod. Secs. 2200.166 and P80.112 )

Yes

e. Report bonds, notes, and other long-term liabilities (e.g. for capital leases, pensions, judgments, and similar commitments) directly related to and expected to be paid from the fund, even though the full faith and credit of the governmental unit may be pledged as further assistance that the liabilities will be paid? [ NCGA-1, par. 42 ( GASB Cod. Sec. 1500.102 )]

Yes

f. Report restricted assets separately from unrestricted assets when restrictions on asset use change the nature or normal understanding of the availability of the asset? [ GASB-34, par. 99 ( GASB Cod. Secs. 2200.168 and P80.114 ) ]

Yes

g. Display net position in three components—net investment in capital assets; restricted (distinguishing between major categories of restrictions); and unrestricted?[ GASB 63, par. 7 ; GASB-34, par. 98 ( GASB Cod. Secs. 1800.133 , GASB Cod. Secs. 2200.167 , and P80.113 ) ]

Yes

h. Avoid the display of reserves and designations of net position? [ GASB-34, par. 37 and 98 ( GASB Cod. Secs. 1800.140 , 2200.167 , and P80.113 ) ]

Yes

6. Does the statement of revenues, expenses, and changes in fund net position: Yes

a. To the extent applicable present operating revenues and expenses; operating income or loss; non-operating revenues and expenses; income before other items; capital contributions, additions to permanent and term endowments, special and extraordinary items, and transfers; change in net position; and net position at the beginning and end of the period? [ GASB-34, par. 100 , as amended by GASB 48, par. 21 ( GASB Cod. Secs. 2200.169 and P80.115–116 ); GASB-34, par. 101 ( GASB Cod. Secs. 2200.170 and P80.116 ); GASB-34, par. 103 ( GASB Cod. Secs. 2200.171–172 and P80.119 ) ]

Yes

b. Distinguish between operating and nonoperating revenues and classify revenues and expenses in a manner essentially like those of similar business organizations, trusts, or activities, unless that classification conflicts with or contradicts GASB pronouncements? [ NCGA 1, par. 117 , as amended by GASB 20, par. 6 ( GASB Cod. Secs. 1800.122 and P80.117 ) ]

Yes

c. Report revenues net of discounts and allowances with the discount or allowance amount reported on the face of the statements or disclosed in the notes to the financial statements? [ GASB-34, fn. 41 ( GASB Cod. Secs. 2200.169, fn. 30 , and P80.115, fn. 8 ) ]

Yes

7. Does the statement of cash flows: Yes

a. Properly report the net cash provided or used by the fund's operating, noncapital financing, capital and related financing, and investing activities, and the net effect of those flows on cash and cash equivalents during the period, including restricted cash and cash equivalents, in a manner that reconciles beginning and ending cash and cash equivalents? [ GASB 9, pars. 7, 8, 15 , and 30 ( GASB Cod. Secs. 2450.104, .105, .112, and .127 ) ]

Yes

b. Show an amount of cash and cash equivalents at the beginning and end of the Yes



period that is easily traceable to similarly titled line items or subtotals in the fund's statement of net position as of those dates? [ GASB 9, par. 8 ( GASB Cod. Sec. 2450.105 ) ]

c. Properly include in cash equivalents short-term, highly liquid investments that are both (1) readily convertible to known amounts of cash, and (2) so near their maturity (generally original maturities of three months or less) that they present insignificant risk of changes in value because of interest rate changes? [ GASB 9, par. 9 ( GASB Cod. Sec. 2450.106 ]

Yes

d. Present information about cash receipts and payments as gross amounts rather than as net amounts? [ GASB 9, pars. 12–14 and 35 ( GASB Cod. Sec. 2450.109–111 and .130 ) ]

Yes

e. Use the direct method of presenting cash flows from operating activities, which reports major classes of gross cash receipts and gross cash payments and their arithmetic sum, and separately reports the following classes of operating receipts and payments, to the extent applicable:

(1) Cash receipts from customers;

(2) Cash receipts from interfund services provided;

(3) Other operating receipts;

(4) Cash payments to employees for services;

(5) Cash payments to suppliers for goods and services;

(6) Cash payments for interfund services used; and

(7) Other operating payments?

[ GASB 9, par. 31 ; GASB-34, pars. 105 and 112 ( GASB Cod. Secs. 2200.174 and 2450.128 )

Yes

f. Provide in an accompanying schedule a reconciliation of operating cash flows to operating income? [ GASB 9, pars. 32–34 , as amended by GASB-34, pars. 100 and 105 ( GASB Cod. Secs. 2200.174 and 2450.129 ) ]

Yes

g. Report in a separate schedule (in narrative or tabular form) information about all investing, capital, and financing activities of a governmental enterprise during a period that affect recognized assets or liabilities but do not result in cash receipts or cash payments in the period (noncash activities)? [ GASB 9, par. 37 ( GASB Cod. Sec. 2450.132 ) ]

Yes


General Financial Reporting Matters Yes, No, N/A

1. Is MD&A presented preceding the basic financial statements? [ GASB 34, par. 8 ( GASB Cod. Sec. 2200.106 ) ]

Yes

2. Is RSI other than the MD&A presented immediately following the notes to the financial statements? [ GASB 34, par. 6 ( GASB Cod. Secs. 2200.102c and .181 ) ]

Yes

3. Does the reported RSI distinguish between information pertaining to the primary government (including its blended component units) and that of its discretely presented component units? [ GASB 14, par. 62 ( GASB Cod. Sec. 2600.121 ) ]

Yes


Management’s Discussion and Analysis Yes, No, N/A

1. Does the MD&A present the following:[ GASB-34, pars. 9–10 ( GASB Cod. Secs. 2200.107–108 ) ]

Yes

a. Discussion of the current-year results in comparison with the prior year, with emphasis on the current year?

Yes

b. Discussion of the significant positive and negative aspects of the comparison with the prior year?

Yes

c. A focus on the primary government, distinguishing between information pertaining to the primary government and its component units?

Yes

d. Discuss matters related to a component unit and/or refer to separately issued component unit financial statements based on the individual component unit's significance to the total of all discretely presented component units and with the primary government?

Yes

e. The answer to the question “why”? In other words, does the MD&A analyze balances, changes and results of operations in a manner for the reader to understand why balances changed and are?

Yes

f. Information that articulates (agrees) to amounts in the basic financial statements and note disclosures, where applicable?

Yes

2. Does the MD&A address the following topics, if applicable:[ GASB-34, par. 11 , as amended by GASB 37, pars. 4–5 ( GASB Cod. Sec. 2200.109 ) ]

Yes

a. A brief discussion of the basic financial statements, including the relationships of the statements to each other, and the significant differences in the information they provide?

Yes

b. Condensed financial information for governmental and business-type activities derived from government-wide financial statements comparing the current year to the prior year, including:

Yes

(1) Statement of net position information, including: total assets, distinguishing between capital and other assets; deferred outflows of resources, total liabilities, distinguishing between long-term liabilities and other liabilities; deferred inflows of resources, and total net position, distinguishing among net investment in capital assets; restricted amounts; and unrestricted amounts?

Yes

(2) Statement of activities information, including program and general revenues by major source; program expenses by function at a minimum; transfers; special and extraordinary items; changes in net position; and ending net position?

Yes

c. An analysis of the government's overall financial position and results of operations that addresses whether financial position has improved or deteriorated as a result of the year's operations, including reasons for significant changes from the prior year and any important economic factors that affected operating results?

Yes

d. An analysis of balances and transactions of individual funds, including the reasons for significant changes in fund balances or fund net position and whether restrictions, commitments, or other limitations significantly affect the

N/A


Management’s Discussion and Analysis Yes, No, N/A

availability of fund resources for future use?

e. An analysis of significant variations between original and final budget amounts and between final budget amounts and actual budget results for the general fund (or its equivalent), including any currently known reasons for those variations that are expected to have a significant effect on future services or liquidity?

Yes

f. A description of significant capital asset and long-term debt activity during the year, including a discussion of commitments made for capital expenditures, changes in credit ratings, and other debt limitations that may affect the planned financing of facilities or services?

Yes

g. A discussion by governments that use the modified approach to report some or all of their infrastructure assets, including significant changes in assessed condition; assessed condition compared to established levels; and any significant differences from planned amounts to actual amounts expended for maintenance and preservation?

N/A

h. A description of currently known facts, decisions, or conditions that are expected to have a significant effect on financial position or results of operations?

Yes

3. Is MD&A confined to the topics listed in Questions 4 and 5 above? [ GASB 37, par. 4 ( GASB Cod. Sec. 2200.109 ) ]

Yes

Do not delete this area of work paper Do not delete this area of work paper

Pension Plan Information—Plan Reporting Yes, No, N/A

Defined Benefit Pension Plans

Note: Required supplementary information presented by a defined benefit pension plan should include all information required by items 5 and 6 below, as applicable, when the financial statements are presented (in the financial report of the government (as a pension trust fund). If a defined benefit pension plan is included in the financial report of a government that applies the requirements of GASB 68 for benefits provided through the pension plan and similar disclosure is required by GASB 67 and GASB 68 , the government should present the information in a manner that avoids unnecessary duplication.

Yes

1. For pension plans presented in the financial report of a government (as a pension trust fund), is the following presented as RSI:

Yes

Note: The information in items 5(a) and 5(b) may be presented in a single schedule. Information for each year should be measured as of the pension plan’s most recent fiscal year-end. Information about cost-sharing pension plans should be presented for the pension plan as a whole.

Yes

a. A 10-year schedule of changes in the net pension liability, presenting for each year (1) the beginning and ending balances of the total pension liability, the pension plan’s fiduciary net position, and the net pension liability, calculated in conformity with GASB 67, pars. 35-46 , and (2) the effects on those items

N/A



during the year of the following, as applicable: [ GASB 67, par.32 ]

(1) Service cost? N/A

(2) Interest on the total pension liability? N/A

(3) Changes of benefit terms? N/A

(4) Differences between expected and actual experience with regard to economic or demographic factors in the measurement of the total pension liability?

N/A

(5) Changes of assumptions about future economic or demographic factors or of other inputs?

N/A

(6) Contributions from employers? N/A

(7) Contributions from nonemployer contributing entities? N/A

(8) Contributions from plan members? N/A

(9) Pension plan net investment income? N/A

(10) Benefit payments, including refunds of plan member contributions? N/A

(11) Pension plan administrative expense? N/A

(12) Other changes, separately identified if individually significant? N/A

b. A 10-year schedule presenting the following for each year: N/A

(1) The total pension liability? Yes

(2) The pension plan’s fiduciary net position? N/A

(3) The net pension liability? N/A

(4) The pension plan’s fiduciary net position as a percentage of the total pension liability?

N/A

(5) The covered payroll? N/A

(6) The net pension liability as a percentage of covered payroll? N/A

c. A 10-year schedule presenting for each year the information indicated in items (1)-(6), below, if an actuarially determined contribution is calculated for employers or nonemployer contributing entities.

N/A

Note: The schedule should identify whether the information relates to the employers, nonemployer contributing entities, or both.

N/A

(1) The actuarially determined contributions of employers or nonemployer contributing entities. For purposes of this schedule, actuarially determined contributions should exclude amounts, if any, to separately finance specific liabilities of an individual employer or nonemployer contributing entity to the pension plan?

N/A

(2) For cost-sharing pension plans, the contractually required contribution of employers or nonemployer contributing entities, if different from (1). For purposes of this schedule, contractually required contributions should be compared to actual contributions made.

N/A

(3) The amount of contributions recognized during the fiscal year by the N/A



pension plan in relation to the actuarially determined contribution in (1). For purposes of this schedule, contributions should include only amounts recognized as additions to the pension plan’s fiduciary net position resulting from cash contributions and from contributions recognized by the pension plan as current receivables?

(4) The difference between the actuarially determined contribution in (1) and the amount of contributions recognized by the pension plan in relation to the actuarially determined contribution in 5c(3)

N/A

(5) The covered payroll? N/A

(6) The amounts of contributions recognized by the pension plan in relation to the actuarially determined contribution in 5c(3) as a percentage of covered-employee payroll in 5c(5)?

N/A

d. 10-year schedule presenting for each fiscal year the annual money-weighted rate of return on pension plan investments calculated as required by GASB 67, par. 30b(4) ?

N/A

2. For pension plans presented in the financial report of a government (i.e. as a pension trust fund), is the following presented in notes to the RSI: [ GASB 67, par. 34 ].

Note: The amounts presented for prior years should not be restated for the effects of changes—for example, changes of benefit terms or changes of assumptions—that occurred subsequent to the end of the fiscal year for which the information is reported.

N/A

a. The significant methods and assumptions used in calculating the actuarially determined contributions, if any, presented as notes to the required schedule?

N/A

b. For each of the schedules required, is information presented about factors that significantly affect trends in the amounts reported (for example, changes of benefit terms, changes in the size or composition of the population covered by the benefit terms, or the use of different assumptions)? For investment-related factors—information should be limited to those factor over which the pension plan or participating governments have influence (for example, changes in investment policies). Information about external, economic factors (for example, changes in market prices) should not be presented. [ GASB-73, par. 117 , amending GASB-67, par. 34 ].

N/A

Pension Information—Employer Reporting Yes, No, N/A

RSI—Defined Benefit Pension Plans: All Cost-Sharing Employers Yes

1. For cost-sharing employer pension plans, is the following presented separately for each cost-sharing pension plan through which pensions are provided as RSI: [ GASB 68, par. 81 ]

Yes

a. A 10-year schedule presenting the following, determined as of the measurement date of the collective net pension liability, for each cost-sharing pension plan through which pensions are provided for each year:

N/A

(1) If the employer does not have a special funding situation: N/A

(a) The employer’s proportion (percentage) of the collective net pension N/A


Pension Information—Employer Reporting Yes, No, N/A

liability?

(b) The employer’s proportionate share (amount) of the collective net pension liability?

N/A

(c) The employer’s covered payroll? N/A

(d) The employer’s proportionate share (amount) of the collective net pension liability as a percentage of the employer’s covered payroll?

N/A

(e) The pension plan’s fiduciary net position as a percentage of the total pension liability?

N/A

(2) If the employer has a special funding situation: N/A

(a) The employer’s proportion (percentage) of the collective net pension liability?

N/A

(b) The employer’s proportionate share (amount) of the collective net pension liability?

N/A

(c) The portion of the nonemployer contributing entities’ total proportionate share (amount) of the collective net pension liability that is associated with the employer?

N/A

(d) The total? N/A

(e) The employer’s covered payroll? N/A

(f) The employer’s proportionate share (amount) of the collective net pension liability as a percentage of the employer’s covered payroll?

N/A

(g) The pension plan’s fiduciary net position as a percentage of the total pension liability?

N/A

b. If the contribution requirements of the employer are statutorily or contractually established, a 10-year schedule presenting the following, determined as of the employer’s most recent fiscal year-end, for each cost-sharing pension plan through which pensions are provided for each year:

N/A

(1) The statutorily or contractually required employer contribution? N/A

(2) The amount of contributions recognized by the pension plan in relation to the statutorily or contractually required employer contribution?

N/A

(3) The difference between the statutorily or contractually required employer contribution and the amount of contributions recognized by the pension plan in relation to the statutorily or contractually required employer contribution?

N/A

(4) The employer’s covered payroll? N/A

(5) The amount of contributions recognized by the pension plan in relation to the statutorily or contractually required employer contribution as a percentage of the employer’s covered payroll?

N/A

2. Is information presented about factors that significantly affect trends in the amounts reported above presented as notes to the RSI? [ GASB 68, par. 82 ] [See amendment above made by GASB-73 ].

Yes




Other Postemployment Benefits Funding Information – Employer Reporting (in accordance with GASB-45) Yes, No, N/A

1. For employers sponsoring a single-employer defined benefit OPEB plan or participating in an agent multiple-employer defined benefit OPEB plan, is the following presented as RSI for the most recent actuarial valuation and the two preceding valuations (or as many valuations that are available until three valuations have been performed): [ GASB 45, par. 25-26 ( GASB Cod. Sec. P50.122 ) ]

N/A

a. A schedule of funding progress, including: N/A

(1) The actuarial valuation date? N/A

(2) The actuarial value of plan assets? N/A

(3) The actuarial accrued liability? N/A

(4) The total unfunded actuarial liability or funding excess? N/A

(5) The actuarial value of assets as a percentage of the actuarial accrued liability (funded ratio)?

N/A

(6) The annual covered payroll? N/A

(7) The ratio of the unfunded actuarial liability or funding excess to annual covered payroll?

N/A

b. Factors that significantly affect the identification of trends in the amounts reported including, for example, changes in benefit provisions, the size or composition of the population covered by the plan, or the actuarial methods and assumptions used?

N/A

c. For sole and agent defined benefit OPEB plan employers that use the aggregate actuarial cost method has the employer prepared the RSI information noted in Question 1 above using the entry age actuarial cost method and disclosed that fact and that the purpose of doing so is to provide information that approximates the funded status and funding progress of the plan? [ GASB 45, par. 26 ( GASB Cod. Sec. P50.122 ) ]

N/A

2. For employers participating in a cost-sharing defined benefit OPEB plan that does not issue and make publicly available a stand-alone plan financial report prepared in accordance with the requirements of GASB 43 , and the plan is not included in the financial report of a public employee retirement system (PERS) or another entity, is the following presented as RSI for the cost-sharing plan as a whole: [ GASB 45, par. 27 ( GASB Cod. Sec. P50.123 ) ]

N/A

a. A schedule of funding progress consistent with the requirements of GASB 43 for each of the past six consecutive fiscal years of the plan?

N/A

b. A schedule of employer contributions consistent with the requirements of GASB 43 for each of the past six consecutive fiscal years of the plan?

N/A

c. Disclosure that the information presented relates to the cost-sharing plan as a whole, of which the employer is one participant, and information helpful for understanding the scale of the information presented relative to the employer?

N/A


Other Postemployment Benefits Funding Information – Employer Reporting (in accordance with GASB-45) Yes, No, N/A

3. For employers that sponsor a single employer defined benefit OPEB plan or participate in a cost-sharing or multiple-employer defined benefit OPEB plan that is reported as a trust fund in its financial statements and for which the plan does not issue separately publicly-available financial statements and RSI, does the employer government present the following in its report as RSI: [ GASB 43, par. 32 ( GASB Cod. Sec. Po50.128 ) ]

N/A

a. A schedule of funding progress consistent with the requirements of GASB 43 for each of the past six consecutive fiscal years of the plan?

N/A

b. A schedule of employer contributions consistent with the requirements of GASB 43 for each of the past six consecutive fiscal years of the plan?

N/A


General Financial Statement Presentation and Disclosure Matters Yes, No, N/A

1. Does the entity’s financial report consist of, at a minimum, a management’s discussion and analysis (MD&A), basic financial statements, notes to the basic statements, and applicable required supplementary information (RSI) other than MD&A? [ GASB 34, par. 6 ( GASB Cod. Secs. 1100.114c and 2200.102 ]

Yes

2. If the entity is a general purpose government or a special purpose government engaged in more than one governmental program or with government with both governmental and business-type activities, do the entity’s basic financial statements present both government-wide financial statements and fund financial statements? [ GASB 34, par. 6 and 135 ( GASB Cod. Secs. 2200.102 and Sp20.104 ) ]

N/A

3. If the entity is a special-purpose government engaged in a single governmental program, has it chosen to combine the fund financial statements and the government-wide statements using a columnar format that reconciles individual line items of fund financial data to government-wide data in a separate column on the face of the financial statements rather than at the bottom of the statements or in an accompanying schedule? [ GASB-34, pars. 136–137 ( GASB Cod. Secs. Sp20.105–106 ) ]

N/A

4. If the entity is a special-purpose government engaged in a single governmental program, and has chosen not to combine the fund financial statements and the government-wide statements, has the entity presented separate government-wide and fund financial statements including a reconciliation between the two? [ GASB-34, pars. 136–137 ( GASB Cod. Secs. Sp20.105–106 ) ]

N/A

5. If the entity is a special-purpose government engaged only in business-type activities, does it present only the financial statements required for enterprise funds as its basic financial statements? [ GASB 29, par. 5 , as amended by GASB 34, par. 147 ( GASB Cod. Sec. Sp20.111 ); GASB 34, par. 138 ( GASB Cod. Sec. Sp20.107 ) ]

Yes

6. If the entity is a special-purpose government engaged only in fiduciary activities, does it present only the financial statements required for fiduciary funds as its

N/A



basic financial statements? [ GASB 34, par. 139 ( GASB Cod. Sec. Sp20.108 ) ]

7. Upon the implementation of GASB 61 , does the primary government report an asset for its equity interest in a discretely presented component unit? [ GASB 61, par 10 ]

Yes

8. Are each of the financial statements properly titled? [Generally Accepted Practice]

Yes

9. Is each page of the basic financial statements referenced to the notes to the financial statements? [ NCGAI 6, par. 8 , as amended by GASB 34, par. 6 ( GASB Cod. Sec. 2300.110 ) ]

Yes

10. Do the notes to the financial statements: Yes

a. Distinguish between information pertaining to the primary government (including its blended component units) and that of its discretely presented component units? [ GASB 14, par. 62 ( GASB Cod. Secs. 2300.104 and 2600.121 ) ]

Yes

b. Focus on the primary government and its governmental activities, business-type activities, major funds individually, and nonmajor funds in the aggregate (including blended component units)? [ GASB 14, par. 63 , as amended by GASB-34, par. 113 and GASB 61, par. 11 ( GASB Cod. Secs. 2300.102 and 2600.122 ) ]

Yes

c. Encompass major discretely presented component units considering the nature and significance of each component unit’s relationship to the primary government? [ GASB 61, par. 11 ]

Yes

d. Include those notes that are deemed essential to fair presentation in the basic financial statements? [ GASB Cod Sec. 2300.106(a) ]

Yes

(1) A summary of significant accounting policies (SSAP) as a stand-alone summary or the initial note to financial statements including the following elements (if applicable)? [ GASB-62 par. 90-94 ( GASB Cod. Secs. 2300.110-.114 ); ]

Yes

(a) A description of the government-wide financial statements, noting that neither fiduciary funds nor component units that are fiduciary in nature are included? [ GASB Cod Sec 2200.111 ]

N/A

(b) A brief description of the component units of the financial reporting entity and their relationships to the primary government? This should include a discussion of the criteria for including component units in the financial reporting entity and how the component units are reported, and information about how the separate financial statements for the individual component units may be obtained. [ GASB Cod Sec 2600.120 ]

Yes

(c) A description of the activities accounted for in each of the following columns—major funds, internal service funds, and fiduciary fund types—presented in the basic financial statements? [ GASB Cod Sec 1300.125 ]

N/A

(d) The measurement focus and basis of accounting used in the government-wide statements? [ GASB Cod Sec 1600.103-.104 ]

Yes

(e) The revenue recognition policies used in fund financial statements, Yes



including the length of time used to define available for purposes of revenue recognition in the governmental fund financial statements? [ GASB Cod Sec. 1600.106-.115, .130, .138 ]

(f) The policy for eliminating internal activity in the government-wide statement of activities? [ GASB Cod Sec 2200.151 ]

Yes

(g) The policy for identifying those events that might affect fair value measurements of investments? [ GASB-72, par. 38(b) , GASB Cod Sec 3100.135]

Yes

(h) The policy for determining which investments, if any, are reported at amortized cost? [ GASB Cod Sec I50.143(a) ]

N/A

(i) The basis upon which inventory amounts are stated and, where practicable, indication of the method of determining the cost? [ GASB Cod Sec I40.114 ]

N/A

(j) The policy for capitalizing assets and for estimating the useful lives of those assets (used to calculate depreciation expense) and the method or methods used in computing depreciation with respect to major classes of depreciable assets? (Entities that choose to use the modified approach for reporting eligible infrastructure assets should describe that approach). [ GASB Cod Sec 1400.102, .104 ]

Yes

(k) A description of the types of transactions included in program revenues and the policy for allocating indirect expenses to functions in the statement of activities? [ GASB Cod Sec 2200.135-.140, .142 ]

N/A

(l) The policy for defining operating and nonoperating revenues of proprietary funds? [ GASB Cod Sec. P80.115 ]

Yes

(m) The definition of cash and cash equivalents used in the statement of cash flows for proprietary funds [ GASB Cod Sec. 2450.106-.108 ]

Yes

(n) The government's policy regarding whether to first apply restricted or unrestricted resources when an expense is incurred for purposes for which both restricted and unrestricted net position are available? [ GASB Cod Sec. 1800.157 ]

Yes

(o) The government's fund balance classification policies and procedures? [ GASB Cod Sec 1800.158 ]

N/A

e. Do the notes other than the summary of significant accounting policies include (where applicable):

Yes

(1) Cash deposits with financial institutions? [ GASB Cod Sec C20 ] Yes

(2) Investments? [ GASB Cod Sec I50 ] Yes

(3) Significant contingent liabilities and claims and judgments? [ GASB Cod Sec C50 ]

Yes

(4) Significant effects of subsequent events? [ GASB Cod Sec 2250.109-.115 ]

Yes

(5) Annual OPEB cost and net OPEB obligations (employers) (Annual OPEB Expense and net OEPB liabilities of employers upon implementation of GASB-75 )? [ GASB Cod Sec P50 ]

Choose an item



(6) Significant violations of finance-related legal or contractual provisions and actions taken to address such violations? [ GASB Cod Sec 1200.113 ]

N/A

(7) Debt service requirements to maturity? [ GASB Cod Sec 1500.129 ] Yes

(8) Required disclosures about leases? [ GASB Cod Sec L20 ] Yes

(9) Construction and other significant commitments and encumbrances? [ GASB Cod Sec 1700.127c ]

Yes

(10) Capital asset disclosures? [ GASB Cod Sec 2300.117-.121 ] Yes

(11) Disclosures about long term liabilities? [ GASB Cod Sec 2300.120--.121 ]

Yes

(12) Deficit fund balance or net position of individual nonmajor funds? [ GASB-34 ]

N/A

(13) Interfund balances and transfers? [ GASB Cod Sec 2300.126-.127 ] N/A

(14) For each major component unit, the nature and amount of significant transactions with other discretely presented component units or with the primary government? [ GASB Cod Sec 2600.110 ]

N/A

(15) Disclosures about donor-restricted endowments? [ GASB Cod Sec 2300.123 ]

Yes

f. Do the notes include significant or unusual accounting treatment for other material account balances or activities? [ NCGAI 6, Appendix , as amended ( GASB Cod. Sec. 2300.901 ) ]

Yes

g. Do the notes include the method and period of amortization for intangible assets not reported as capital assets? [ GASB 62, par.92 ]

N/A

h. Do the notes include property tax revenue recognition policies? [ NCGAI 6, Appendix , as amended ( GASB Cod. Sec. 2300.901 ) ]

N/A

i. Do the notes include details of the property tax calendar, including lien dates, levy dates, due dates, and collection dates [( GASB Cod. Sec. P70.108 ) ]

N/A

j. Do the notes include the length of accrual of property taxes if longer than 60 days. [ ( GASB Cod. Sec. P70.104 ) ]

N/A

k. Do the notes include vacation, sick leave, and other compensated absences expenditure/expense recognition policies? [ NCGAI 6, Appendix , as amended ( GASB Cod. Sec. 2300.901 ) ]

Yes

Do not modify this area of the workpaper, including the space above and below this area.

Accounts and Notes Receivable Yes, No, N/A

1. Are trade notes and accounts receivable reported under a heading separate from other receivables (e.g., intergovernmental receivables, tax receivables)? [ GASB 62, par.30 ]

Yes

2. Are notes and accounts receivable from component units and other related parties reported under separate headings? [ GASB 62, par.30 ]

N/A


Accounts and Notes Receivable Yes, No, N/A

3. Are receivables that are not expected to be collected within twelve months from the balance-sheet date excluded from current assets and disclosed in the notes to the financial statements? [ GASB 62, par. 31 ; and GASB 38, par. 13 ( GASB Cod. Sec. 2300.119 ) ]

Yes

4. Are valuation allowances (such as uncollectible accounts) deducted from the related accounts and notes receivable? [ GASB 62, par. 33 ]

Yes

5. Are unearned discounts (other than cash or quantity discounts and the like), interest, and finance charges included in receivables deducted from the face of the related receivables? [ GASB 62, par. 32 ]

N/A

6. Do notes receivable that require the imputation of interest, or that bear interest at an inappropriate rate, include the following disclosures: [ GASB 62, par. 187 ]

N/A

a. A description of the note? N/A

b. The effective interest rate? N/A

c. The face amount of the note? N/A

d. The amount of discount or premium resulting from present value determination?

N/A

e. The amortization of discount or premium classified as part of interest expense?

N/A


Capital Assets, Depreciation, and Related Activity Yes, No, N/A

1. Are general capital assets (those of governmental funds) reported as capital outlay expenditures in the governmental fund financial statements rather than capital assets and reported as capital assets in the governmental activities column in the government-wide statement of net position? [ NCGA 1, par. 32 , as amended by GASB 34, par. 6 , 30 , and 80 ( GASB Cod. Sec. 1400.101 ); GASB-34, par. 80 ( GASB Cod. Sec. 1400.114 ) ]

N/A

2. Are capital assets involved with service concession arrangements, if formerly depreciated, but the arrangement calls for an asset to be returned in as good or better condition at the end of the arrangement, reported separately from other capital assets? (If material.) [ GASB 60, par. 14 (GASB Cod. Sec S30.110)

N/A

3. Are capital assets of proprietary funds reported in both the government-wide and fund financial statements? [ NCGA 1, pars. 32 and 34 as amended by GASB 34, par. 6 , 30 , and 92 ( GASB Cod. Sec. 1400.101 ); GASB-34, par. 92 ( GASB Cod. Sec. 1400.115 )

Yes

4. Are capital assets of fiduciary funds and similar component units reported only in the statement of fiduciary net position and not in the government-wide financial statements? [ NCGA 1, pars. 32 and 34 , as amended by GASB 34, par. 6 and 108 ( GASB Cod. Sec. 1400.101 ); GASB-34, par. 108 ( GASB Cod. Sec. 1400.116 )

N/A

5. Are intangible assets that are used in operations and that have initial useful lives extending beyond a single reporting period reported as capital assets consistent

N/A



with the treatment of other capital assets? [ GASB-34, par. 19 ( GASB Cod. Sec. 1400.103 )

6. Are intangible assets reported as capital assets and include assets that meet the criteria of being identifiable, lacking physical substance, nonfinancial in nature, and having a useful life beyond a single reporting period, except for those that meet the definition of investments? [ GASB 51, pars. 2–6 , as amended by GASB-72, par. 64 ( GASB Cod. Sec.1400.103 )

YesYesChoose an item

7. Do any internally generated intangible assets, including internally generated computer software, meet the criteria for being capitalized? [ GASB 51, pars. 8-15 ( GASB Cod. Secs. 1400.125-129 )

N/A

8. Are intangible assets amortized over the estimated useful life of the asset unless the life is determined to be indefinite? [ GASB 51, pars. 16-17 ( GASB Cod. Secs. 1400.133-134 )

N/A

9. Are intangible assets declared for governments that are operators involved with a service concession arrangement with another government in the amount of the up-front payment or the cost of construction or improvements of a facility? (Any cost of improvements to the facility made by the governmental operator during the term of the SCA should increase the governmental operator’s intangible asset if the improvements increase the capacity or efficiency of the facility.) Is the intangible asset amortized over the term of the arrangement in a systematic and rational manner? [ GASB 60, par 13 (GASB Cod Sec S30.109)

N/A

10. Are works of art, historical treasures, and similar assets capitalized unless the collection meets the criteria for expensing rather than capitalizing? [ GASB-34, pars. 19 and 27 ( GASB Cod. Secs. 1400.103 and .109 )

Yes

11. Are infrastructure assets (long-lived assets that are normally stationary in nature and normally can be preserved for significantly greater number of years than most capital assets, such as road and bridges, water and sewer systems) capitalized? [ GASB-34, par. 19 ( GASB Cod. Sec. 1400.103 )

Yes

12. Are capital assets reported at historical cost, except for donated capital assets that should be reported at their estimated acquisition value at the time of acquisition? [ GASBS 34, par. 18 , as amended by GASB 37, par. 6 and GASB-72, par. 79 ( GASB Cod. Sec. 1400.102 )

YesYesChoose an item

13. In the government-wide statement of net position: [ GASB-34, par. 20 ( GASB Cod. Sec. 1400.112 )

N/A

a. Are depreciable capital assets reported net of accumulated depreciation, with accumulated depreciation reported either on the face of the statement or disclosed in the notes?

N/A

b. Are capital assets that are not being depreciated, such as land, construction in progress, or infrastructure assets reported using the modified approach, reported in a separate line item if the entity has a significant amount of these assets?

N/A

14. In the government-wide, proprietary fund, and fiduciary fund activity statements:

Yes

a. Is depreciation expense reported on depreciable capital assets? [ GASB-34, par. 22 ( GASB Cod. Sec. 1400 ); GASB-34, pars. 22 , 92 , and 107 ( GASB Cod. Sec. 1400.104 ); GASB-34, par. 29 ( GASB Cod. Sec.

Yes



1400.111 )

b. For eligible infrastructure assets for which the entity uses the modified approach, are expenditures made to maintain those assets expensed? [ GASB-34, par. 25 ( GASB Cod. Sec. 1400.107 )

N/A

15. In the government-wide statement of activities: N/A

a. If the entity uses a separate line item to report unallocated depreciation expense, does it clearly indicate on the face of the statement that this line item excludes direct depreciation expenses of the various programs? [ GASB-34, par. 44 ( GASB Cod. Sec. 2200.132 )

N/A

b. Is depreciation expense for general infrastructure assets reported as either a direct expense of the function that the entity normally associates with capital outlays for, and maintenance of, infrastructure assets or as a separate line in the statement of activities? [ GASB-34, par. 45 ( GASB Cod. Sec. 2200.133 )

N/A

16. In regard to capital asset impairments: N/A

a. Are impairment losses (and accounting gains that result from insured impairments) reported in the statement of activities and in the statement of revenues, expenses, and changes in fund net position, as a program or operating expense, special item, or extraordinary item, as appropriate? [ GASB 42, par. 17 and fn. 6 ( GASB Cod. Sec. 1400.156 )

N/A

b. Are impairment losses reported as program expense generally reported as a direct expense of the program that uses or used the impaired capital asset? [ GASB 42, par. 17 ( GASB Cod. Sec. 1400.156 )

N/A

17. In regard to capital asset insurance recoveries and asset restorations and replacements relating to capital asset impairments: [ GASB 42, par. 21 ( GASB Cod. Sec. 1400.160 )

N/A

a. In governmental fund financial statements, is the restoration or replacement of an impaired capital asset reported as a transaction separate from the associated insurance recovery?

N/A

(1) Is the insurance recovery reported as an other financing source or extraordinary item, as appropriate?

N/A

b. In governmental and business-type activities in government-wide financial statements and in proprietary fund financial statements, is the restoration or replacement of an impaired capital asset reported as a transaction separate from the impairment loss and associated insurance recovery?

N/A

(1) Is the impairment loss reported net of the associated insurance recovery when the recovery and loss occur in the same year?

N/A

(2) Are insurance recoveries reported in subsequent years reported as a program revenue, nonoperating revenue, or extraordinary item, as appropriate?

N/A

18. Do the notes to the financial statements disclose: Yes

a. Changes in capital asset and accumulated depreciation balances, divided into major classes of capital assets as well as between assets associated with governmental activities and those associated with business-type

Yes



activities, and between assets that are not being depreciated and those that are being depreciated? [ GASB 34, par. 116 ( GASB Cod. Sec. 2300.111 )

b. Current-period depreciation expense, with the amounts charged to each of the functions in the statement of activities? [ GASB-34, pars. 117–118 ( GASB Cod. Secs. 2300.112–113 )

Yes

c. The method(s) used to compute depreciation for each major class of depreciable asset and the range of estimated useful lives used? [ GASB 62, par. 95 ]

Yes

d. For collections that are not capitalized, do the notes describe the collection and the reasons the assets are not capitalized? [ GASB-34, par. 118 ( GASB Cod. Sec. 2300.113 )

Yes

e. If applicable, the carrying amount of impaired capital assets that are idle at year-end disclosed, regardless of whether the impairment is considered permanent or temporary? [ GASB 42, par. 20 ( GASB Cod. Secs. 1400.159 and 2300.107 )

N/A

f. A general description, the amount, and the financial statement classification of impairment losses on capital assets and the amount and classification of any insurance recoveries? [ GASB 42, par. 17 ( GASB Cod. Sec. 1400.156 and 2300.107 )

N/A

Cash, Investments, and Related Income and Activity Yes, No, N/A

1. Are checks from customers held as of the end of the period accounted for as cash? [Generally Accepted Practice]

Yes

2. Are checks payable to vendors held as of the end of the period accounted for as accounts payable? [Generally Accepted Practice]

Yes

3. Are the following items excluded from the cash classification and reported as restricted cash: (1) cash amounts restricted as to withdrawal; (2) cash amounts committed or assigned for expenditure in the acquisition or construction of noncurrent assets; and (3) cash amounts segregated for the liquidation of long-term debt. [ GASB-34, par. 99 ( GASB Cod. Secs. 2200.168 ); GASB 62, par. 31 ]

Yes

4. If a cash account for the entity is overdrawn in total, is the balance classified as a liability in the fund and government-wide financial statements? [ AAG-SLG, par. 5.28 ]

N/A

5. Does the entity apply the provisions of GASB62 pars. 202-210 if they meet the criteria for using the equity methodas outlined in pars. 205-208 of GASB -62 , or to securities or other instruments not held by the entity for investment purposes, either for itself or for parties for which it serves as investment manager or other fiduciary, including, but not limitied to:

a. The investment in voting stock gives it the ability to exercise significant influence over operating and financial policies of an investee even though the government holds 50% or less of the voting stock? [An investment (direct or indirect) of 20% or more of the voting stock of an investee should lead to the presumption that in the absence of evidence to the contrary, a government has the ability to exercise significant influence over an investee. Less than 20%

N/A



should lead to a presumption that a government does NOT have the ability to exercise significant influence unless that ability can be demonstrated.]

b. A government’s voting-stock interest in an investee should be based on those currently outstanding securities whose holders have voting privileges.

c. The investment is not specifically excluded from using the equity method of accounting, including:

(1) Common stock held by external investment pools, pension or other postemployment benefit plans, IRC Section 457 deferred compensation plans, endowments of all types or permanent funds?

(2) Investments in certain entities that calculate net asset value (NAV) per share (or its equivalent (primarily private equity investments)? or

(3) Equity interest ownership in joint ventures or component units as provided in GASB-14 , as amended?

[ GASB 72, par. 77 ( GASB Cod. Sec. I50.109 )

6. If equity interests in common stock that do not meet the definition of an investment and the criteria for using the equity method exist, does the entity use the cost method, which requires the government as an investor records to investment in the stock of an investee at cost and recognizes as revenue dividends received that are distributed from net accumulated earnings of the investee since the date of acquisition? [The net accumulated earnings of an investee subsequent to the date of investment are recognized by the investor only to the extent distributed by the investee as dividends. Dividends received in excess of earnings subsequent to the date of investment are considered a return of investment and are recorded as reductions of cost of the investment. A series of operating losses of an investee or other factors may indicate that a decrease in value of the investment has occurred that is other than temporary and should accordingly be recognized.] [ GASB-72, par. 78 ( GASB Cod. Secs. I50.110-.111 )

N/A

7. Does the entity measure donated works of art, historical treasurers (and similar assets) and capital assets received in a service concession arrangement at acquisition value? [ GASB-72, par. 79 ( GASB Cod. Sec. 1100.106 )

Yes

8. Does the entity apply the provisions of GASB 31 , as amended by GASB 51 and GASB 59 , for investments in (a) participating interest-earning investment contracts, (b) external investment pools, (c) open-end mutual funds, (d) debt securities, certain equity securities, option contracts, stock warrants, and stock rights that have readily determinable fair values, and (e) land and other real estate held as investment by endowments, and report such investments at fair value? [ GASB 31, pars. 2–6 , as amended by GASB 51, par. 4 and GASB 59 par. 5 ( GASB Cod. Secs. I50.101-106 ) ]

Yes

9. Is the equity position of each fund or component unit in an internal investment pool (or in an external investment pool that is sponsored by the entity) reported as assets in those funds and component units? [ GASB 31, par. 14 and 18 ( GASB Cod. Secs. I50.113 and .117 ) ]

N/A

a. If a fund has overdrawn its share of the pool, has that fund reported an interfund liability to the fund that the government's management deems to have lent the cash or investments to the overdrawn fund, with the fund deemed to have lent the cash or investments reporting an interfund receivable from the borrowing fund? [ AAG-SLG, par. 5.27 ]

N/A

10. Are yield maintenance repurchase and reverse repurchase agreements accounted N/A



for as purchases and sales of securities, with gains or losses reported? [ GASB 3, par. 83 ( GASB Cod. Secs. I50.115 and .120 ) ]

11. With regard to reverse repurchase and fixed coupon reverse repurchase agreements:

N/A

a. Are the assets and liabilities arising from the agreements not netted on the financial position statements? [ GASB 3, par. 81 ( GASB Cod. Sec. I55.115 ) ]

N/A

b. Are the agreements reported as a liability captioned “obligations under reverse repurchase agreements,” and the underlying securities reported as “investments”? [ GASB 3, par. 81 ( GASB Cod. Sec. I55.115 ) ]

N/A

c. If the entity pools monies from several funds for investment purposes, and the pool, rather than the individual funds, has the agreements, are the assets and liabilities reported in the financial position statements of the funds and activities that have the risk of loss on those assets? [ GASBI 3, par. 3 , as amended by GASB-34, par. 15 ( GASB Cod. Sec. I55.117 ) ]

N/A

d. Is the interest cost of the agreements reported as interest expenditure/expense and not netted with interest earned on any related investments? [ GASB 3, par. 82 ( GASB Cod. Sec. I55.116 ) ]

N/A

e. Is the income and costs arising from pooled agreements reported in the activity statements of the funds and activities that have the risk of loss on the assets? [ GASBI 3, par. 4 , as amended by GASB-34, par. 15 ( GASB Cod. Sec. I55.118 ) ]

N/A

f. Is the income from repurchase and fixed coupon repurchase agreements shown as interest income? [ GASB 3, par. 82 ( GASB Cod. Sec. I50.114 ) ]

N/A

12. With regard to securities lending transactions: N/A

a. Are the following items reported in the financial position statements: N/A

(1) Securities lent and cash received as collateral and investments made with that cash? [ GASB 28, par. 5 ( GASB Cod. Sec. I60.103 ) ]

N/A

(2) Securities received as collateral if the entity has the ability to pledge or sell them without a borrower default? [ GASB 28, par. 6 ( GASB Cod. Sec. I60.104 ) ]

N/A

(3) Liabilities resulting from these transactions? [ GASB 28, par. 6 ( GASB Cod. Sec. I60.104 ) ]

N/A

b. Are securities lending transactions collateralized by letters of credit or by securities that the entity does not have the ability to pledge or sell unless the borrower defaults not reported as assets or liabilities? [ GASB 28, par. 7 ( GASB Cod. Sec. I60.105 ) ]

N/A

13. With regard to investment income: [ GASB 31, pars. 13–14 , GASB 34, par. 112 ( GASB Cod. Secs. I50.112–113 ) ]

Yes

a. Is investment income, including changes in the fair value of investments, reported as revenue in the activity statements?

Yes

b. If identified separately as an element of investment income, is the change in the fair value of investments captioned “net increase (decrease) in the fair value of investments”?

Yes



c. Are realized gains and losses not displayed separately from the net increase (decrease) in the fair value of investments in the financial statements?

Yes

d. If income from investments associated with one fund is assigned to another fund because of legal or contractual provisions, is the reporting treatment based on the specific language of those provisions?

N/A

e. If income from investments associated with one fund is assigned to another fund for other than legal or contractual reasons—for example, management decision—is the income reported in the fund that reports the investments with the transfer of that income to the recipient fund reported as an interfund transfer?

N/A

14. With regard to deposits and investments in general, do the notes to the financial statements disclose: [ GASB 3, par. 66 ( GASB Cod. Secs. C20.106 and I50.123–124 ); GASB 38, par. 9 ( GASB Cod. Sec. 1200.112 ) GASB 40, pars. 5–6 ( GASB Cod. Secs. C20.109 and I50.127 ); GASB 31, par. 15 ( GASB Cod. Sec. I50.120 ]

Yes

a. A brief description of the types of investments authorized by legal or contractual provisions?

Yes

b. Any differences in authorized investment types, if the types of investments authorized for different funds, fund types, blended component units, or discretely presented component units differ significantly from those authorized for the primary government, and those funds, fund types, blended component units, or discretely presented component units have material investment activity compared with the reporting entity’s investment activity?

Yes

c. Deposit and investment policies that are related to credit quality, custodial credit risk, concentration of credit risk, interest rate risk, and foreign currency risk, or a disclosure that the government has no deposit or investment policy that addresses a specific type of risk to which it is exposed?

Yes

d. Significant violations during the period of legal or contractual provisions for deposits and investments and actions taken to address such violations?

N/A

e. The methods and significant assumptions used to estimate the fair value of investments, if that fair value is based on other than quoted market prices?

Yes

f. The policy for determining which investments, if any, are reported at amortized cost?

N/A

15. With regard to deposit and investment risks do the notes to the financial statements disclose:

Yes

a. If the entity has investment securities (including securities underlying repurchase agreements, excluding investments in external investment pools, investments in open-end mutual funds, and securities underlying reverse repurchase agreements) as of the financial statement date that are exposed to custodial credit risk, the investments’ type, the reported amount, and how the securities are held? [ GASB 40, par. 9 ( GASB Cod. Sec. I50.129 ); GASB 40, par. 10 ( GASB Cod. Sec. I60.114 ) ]

Yes

b. If the entity has deposits (including deposits that represent cash collateral on securities lending transactions) as of the financial statement date that are exposed to custodial credit risk, the amount of the bank balances, the fact those balances are uninsured, and the basis on which the balances are

Yes



exposed to custodial credit risk? [ GASB 40, par. 8 ( GASB Cod. Sec. C20.107 ); GASB 40, par. 10 ( GASB Cod. Sec. I60.114 ) ]

c. The credit quality ratings of investments in debt securities (including investments in external investment pools, money market funds, bond mutual funds, and other pooled investments of fixed income securities) as described by rating agencies as of the financial statement date? [ GASB 40, par. 7 ( GASB Cod. Sec. I50.128 ) ]

Yes

d. Concentration of credit risk, including the amount and issuer when investments in any one issuer represents 5 percent or more of total investments based on the level of detail described in GASB 40, paragraph 5 ? [ GASB 40, par. 11 ( GASB Cod. Sec. I50.130 ); GASB 40, par. 12 ( GASB Cod. Sec. Pe5.124e ); GASB 40, par. 13 ( GASB Cod. Sec. Pe6.104c ) ]

N/A

e. Interest rate risk of debt investments using a disclosure method described in GASB 40, paragraph 15 , as amended by GASB 59, paragraph 6 , with information about assumptions regarding cash flows, interest rate factors, terms of investments with fair values that are highly sensitive to changes in interest rates, and other factors that affect interest rate risk? [ GASB 40, pars. 14–16 ; GASB 59, par. 6 ( GASB Cod. Secs. I50.131–133 ) ]

Yes

f. Foreign currency risk by disclosing the dollar balances of deposits and investments that are exposed to foreign currency risk, organized by currency denomination and, if applicable, investment type? [ GASB 40, par. 17 ( GASB Cod. Secs. C20.108 and I50.134 ) ]

N/A

16. For investment disclosures, are they organized by type of asset or liability and with a level of detail and disaggregation, placing an emphasis on:

The nature, characteristics and risks of an asset or liability;

The level of the fair value hierarchy within which the fair value measurement is categorized;

Whether GASB-72 (or any other GASB Statement) specifies a type for an asset or a liability;

The objective, mission or characteristics of the government;

The relative significance of assets and liability;

Whether separately issued financial statements are available; and

Where the asset or liability is presented in the statement of net position?

[ GASB-72, par. 80 ( GASB Cod. Secs. 2300.107 , 3100.162, D40.166 , I50.140 , L30.137 , In3.138(f), In5.103(g), Pe7.124 , Pe8.104 , Po20.147(h), Po50.126 , Po51.104 )

Yes

17. For investments, for recurring fair value measurements (required or permitted in the statement of net position at the end of each reporting period) and nonrecurring fair value measurements (those measured in particular circumstances as required by GASB-72 and other GASB Statements) do the notes disclose: [ GASB-72, par. 81 ( GASB Cod. Secs. 1400.195 , D40.165-.166 , I50.141-.143 , L30.137 )

Yes

a. The fair value measurement at the end of the reporting period? Yes

b. Except for those investments required to be measured at NAV per share (or its equivalent,) the level of the fair value hierarchy, within which the fair value measurements are categorized in their entirety (Level 1, Level 2, or

Yes



Level 3)?

c. A description of the valuation techniques used in the fair value measurement? Yes

d. If there has been a change in valuation technique that has a significant impact on the result (for example, changing from an expected cash flow technique to a relief from royalty technique or the use of an additional valuation technique), that change and the reason(s) for making it?

N/A

e. For nonrecurring fair value measurements, the reasons for the measurement? Yes

18. For fair value measurements of investments in certain entities that calculate net asset value (NAV) per share (or its equivalent) AND that meet all the following criteria:

The entity calculates NAV per share (or its equivalent), regardless of whether the method of determining fair value has been applied,

The entity does not have a readily determinable fair value, and

The entity measures at fair value on a recurring or nonrecurring basis during the period,

Does the government disclose information that addresses the nature and risks of the investments and whether the investments are probable of being sold at amounts different from the NAV per share (or its equivalent) by disclosing the following information for each type of investment:

[ GASB-72, par. 82 ( GASB Cod. Secs. 2300.107 , 3100.164, I50.142 , In3.138(f), In5.103(g), Pe7.124 , Pe8.104 , Po20.147(h), Po50.126 , Po51.104 )

N/A

a. The fair value measurement of the investment type at the measurement date and a description of the significant investment strategies of the investee(s) in that type?

N/A

b. For each type of investment that includes investments that can never be redeemed with the investees, but a government receives distributions through the liquidation of the underlying assets of the investees: the government's estimate of the period over which the underlying assets are expected to be liquidated by the investees?

N/A

c. The amount of a government's unfunded commitments related to that investment type?

N/A

d. A general description of the terms and conditions upon which a government may redeem investments in the type (for example, quarterly redemption with 60 days' notice)?

N/A

e. The circumstances in which an otherwise redeemable investment in the type (or a portion thereof) might not be redeemable (for example, investments subject to a redemption restriction, such as a lockup or gate)?

N/A

f. For those otherwise redeemable investments in (e) that are restricted from redemption as of the government's measurement date: the estimate of when the restriction from redemption might lapse? (if an estimate cannot be made, disclose that fact and how long the restriction has been in effect)

N/A

g. Any other significant restriction on the ability to sell investments in the type at the measurement date?

N/A

h. If a government determines that it is probable that it will sell an investment(s) for an amount different from the NAV per share (or its equivalent): the total

N/A



fair value of all investments that meet the criteria of probable sale and any remaining actions required to complete the sale?

i. If a group of investments would otherwise meet the criteria of a probable sale, but the individual investments to be sold have not been identified (for example, if a government decides to sell 20 percent of its investments in private equity funds but the individual investments to be sold have not been identified), such that the investments continue to qualify for the method of determining fair value, the government's plans to sell and any remaining actions required to complete the sale(s)?

N/A

19. With regard to investments in external investment pools, do the notes to the financial statements disclose: [ GASB 31, par. 15 ( GASB Cod. Sec. I50.120 ) ]

N/A

a. For any investments in external investment pools that are not SEC-registered, a brief description of any regulatory oversight for the pool and whether the fair value of the position in the pool is the same as the value of the pool shares?

N/A

b. Any involuntary participation in an external investment pool? N/A

c. If an entity cannot obtain information from a pool sponsor to allow it to determine the fair value of its investment in the pool, the methods used and significant assumptions made in determining that fair value and the reasons for having had to make such an estimate?

N/A

20. For an investment in a qualifying external investment pool that measures for financial reporting purposes all of its investments at amortized cost, does the employer disclose the presence of any limitations or restrictions on withdrawals (such as redemption notice periods, maximum transaction amounts, and the qualifying external investment pool’s authority to impose liquidity fees or redemption gates) in notes to the financial statements?

[ GASB-79, par. 43 ( GASB Cod. Sec. I50.143 ) ]

Choose an item

21. With regard to investments in repurchase agreements or reverse repurchase agreements, do the notes to the financial statements disclose: [ GASB 3 pars. 76–80 , as amended by GASB 31 and 38 ; GASBI 3, par. 6 ( GASB Cod. Secs. I55.109–115 ) ]

N/A

a. The source of legal or contractual authorization for the use of reverse repurchase agreements, if those agreements were used during the period?

N/A

b. Significant violations during the period of legal or contractual provisions for reverse repurchase agreements and actions taken to address such violations?

N/A

c. For reverse repurchase agreements other than yield maintenance agreements outstanding as of the financial statement date, the credit risk related to the agreements?

N/A

d. For commitments as of the financial statement date to repurchase securities under yield maintenance agreements, the fair value as of that date of the securities to be repurchased and a description of the terms of the agreements?

N/A

e. Losses recognized during the period due to default by counterparties to reverse repurchase agreements and amounts recovered from prior-period losses?

N/A

f. Whether the maturities of the investments made with the proceeds of reverse N/A



repurchase and fixed-coupon reverse repurchase agreements generally are matched to the maturities of the agreements, as well as the extent of such matching at the financial statement date?

22. With regard to securities lending transactions, do the notes to the financial statements disclose: [ GASB 28, pars. 11–15 ; GASB 38, par. 9 ; GASB 40, par. 10 ( GASB Cod. Sec. 1200.112 and I60.109–114 ) ]

N/A

a. The source of legal or contractual authorization for the use of transactions? N/A

b. Significant violations of those provisions that occurred during the period and actions taken to address such violations?

N/A

c. A general description of their securities lending transactions during the period?

N/A

d. Whether the maturities of the investments made with cash collateral generally match the maturities of the securities loans, as well as the extent of such matching at the financial statement date?

N/A

e. The amount of credit risk, if any, related to the securities lending transactions at the financial statement date?

N/A

f. The amount of losses on securities lending transactions during the period resulting from the default of a borrower or lending agent and amounts recovered from prior-period losses?

N/A

23. With regard to investment income, do the notes to the financial statements disclose:

Yes

a. Losses recognized during the period due to default by counterparties to deposit or investment transactions and amounts recovered from prior-period losses, if not separately displayed on the activity statement? [ GASB 3, par. 75 ( GASB Cod. Secs. C20.110 and I50.136 ) ]

N/A

b. Any income from investments associated with one fund that is assigned to another fund? [ GASB 31, par. 15 ( GASB Cod. Sec. I50.120 ) ]

N/A

c. For any disclosed realized gains and losses (optional disclosure): Yes

(1) All realized gains and losses for the year? Yes

(2) Disclosure that the calculation of realized gains and losses is independent of a calculation of the net change in the fair value of investments?

Yes

(3) Disclosure that realized gains and losses on investments that had been held in more than one fiscal year and sold in the current year were included as a change in the fair value of investments reported in the prior year(s) and the current year? [ GASB 31, par. 15 ( GASB Cod. Sec. I50.120 )

Yes

24. With regard to foreign currency translation, do the notes to the financial statements disclose: [ GASB 62, pars. 170-171 ]

N/A

a. The aggregate transaction gain or loss including in determining results of operations for the period?

N/A

b. Rate changes that occur after the financial statement date and their effects on unsettled balances pertaining to foreign currency transactions, if significant?

N/A



c. An analysis and discussion of the effect of rate changes on the reported results of operations?

N/A

25. With regard to compensating balance arrangements, do the notes to the financial statements disclose: [Generally Accepted Practice]

N/A

a. The terms of the compensating balance agreement? N/A

b. The amount of the compensating balance requirement? N/A

c. The amount required to be maintained to assure future credit availability and the terms of that agreement?

N/A

d. The maintenance of compensating balances for the benefit of a related party? N/A


Commitments, Contingencies, Estimates, and Concentrations Yes, No, N/A

1. Does the entity disclose significant commitments including: noncapitalized leases, unused letters of credit, assets pledged as security for loans, obligations to reduce debt; and construction, significant encumbrances (by major funds and nonmajor funds in the aggregate) and other significant commitments? [ NCGA 1, par. 158 , as amended by NCGAI 6, par. 4 ( GASB Cod. Secs. 2300.106k-l ) GASB 62, par. 113 ]

Yes

2. For unconditional purchase obligations that have not been recognized on the entity’s financial position statement(s), do the notes disclose: (1) the nature and term of the obligation; (2) the amount of the fixed and determinable portion of the obligation as of the date of the latest financial position statement in the aggregate and, if determinable, for each of the five succeeding fiscal years; (3) the nature of any variable components of the obligation; and (4) the amounts purchased under the obligation? [ GASB 62, par. 113 , 200 ]

N/A

3. Do the notes disclose contingent liabilities not requiring accrual, including nonexchange financial guarantees that have not been exercised, such as situations in which the entity is contingently liable for other entity indebtedness? [ NCGA 1, par. 46 , as amended by NCGA 4, par. 14 , and GASB 10, par. 58 ( GASB Cod. Secs. 1500.114 and 2300.106d ); GASB 62, pars. 107-110 ]

N/A

4. If loss contingencies have been accrued, has consideration been given to describing the nature and amount of the accrual for the financial statements not to be misleading? [ GASB 62, par. 106 ]

N/A

5. If no accrual is made for a loss contingency, or if an exposure to loss exists in excess of the amount accrued, have the following disclosures been made when there is at least a reasonable possibility that a loss or an additional loss may have been incurred: (1) the nature of the contingency; and (2) an estimate of the possible loss or range of loss, or a statement that such an estimate cannot be made? [ GASB 62, par. 107 ]

N/A

6. Are the following disclosures made (when it is necessary to keep the financial statements from being misleading) for losses and loss contingencies that arise subsequent to the date of the financial statements: (1) the nature of the loss or loss contingency; and (2) an estimate of the amount or range of loss, or possible loss,

N/A


Commitments, Contingencies, Estimates, and Concentrations Yes, No, N/A

or a statement that an estimate cannot be made? [ GASB 62, par. 108 ]

7. Are the following disclosures made for certain remote loss contingencies relating to guarantees made for outside parties (such as guarantees of indebtedness of others, or obligations of commercial banks under stand-by letters of credit): (1) the nature of the loss contingency; (2) the nature and amount of the guarantee; and (3) if subject to estimation, the value of any recovery from other outside parties that could be expected to result? [ GASB 62, par. 109 ]

N/A

8. Are there adequate disclosures for unasserted claims or assessments if it is considered probable that a claim will be asserted and there is a reasonable possibility that a loss will arise from the matter? [ GASB 62, par. 107 ]

N/A

9. Have contingencies that might result in gains been adequately disclosed but not reflected in the financial statements since to do so might be to recognize revenue before to its realization? (Care should be exercised to avoid misleading implications about the likelihood of realization.) [ GASB 62, par. 112 ]

N/A

10. Is disclosure made that the preparation of financial statements in conformity with GAAP requires the use of management’s estimates? [ GASB 62, par.69 ]

Yes

11. Are the following disclosures made regarding significant estimates used in the determination of the carrying amounts of assets or liabilities or in disclosure of gain or loss contingencies, if: (a) it is at least reasonably possible that the effect on the financial statements of the estimates will change within one year of the date of the financial statements due to one or more future confirming events and (b) the effect of the change would be material to the financial statements: (1) the nature of the estimate; and (2) an indication that it is at least reasonably possible that a change in the estimate will occur in the near term. [ GASB 62, pars. 103-104 ]

N/A

12. Are the following concentrations disclosed if: (1) the concentration exists at the date of the financial statements, (2) the concentration makes the entity vulnerable to the risk of a near-term severe impact, and (3) it is at least reasonably possible that the events that could cause the severe effect will occur in the near term: [Generally Accepted Practice]

N/A

a. Concentrations in the volume of business transacted with a particular customer, supplier, lender, grantor, or contributor?

N/A

b. Concentrations in revenue from particular products, services, or fund-raising events?

N/A

c. Concentrations in the available sources of supply of materials, labor, or services, or of licenses or other rights used in the entity’s operations?

N/A

d. Concentrations in the tax base of the entity? N/A

e. For concentrations of labor subject to collective bargaining agreements, the percentage of the labor force covered by a collective bargaining agreement and the percentage of the labor force covered by a collective agreement that will expire within one year?

N/A



Financial Reporting Entity, Component Units, Joint Ventures, and Other Organizations Yes, No, N/A

1. Do the financial statements include the primary government and organizations for which the primary government is financially accountable and any other organizations whose exclusion would cause the reporting entity’s financial statements to be misleading that comprise the financial reporting entity and do the notes to the financial statements describe the financial reporting entity, including the primary government and all component units? [ GASB 14, pars. 12 and 20 as amended by GASB 61, par. 4 ( GASB Cod. Sec. 2600.102 ) ]

Yes

2. Do the financial statements include component units that are organized as not-for-profit corporations in which the primary government is the sole corporate member as blended component units? [ GASB-80, par. 5 ( GASB Cod. Sec. 2600.113 ) ]

Choose an item

3. If the financial statements present only the data of the primary government, do they acknowledge that they do not include the data of the component units necessary for reporting in conformity with GAAP? [ GASB 14, par. 64 ( GASB Cod. Sec. 2600.123 ) ]

N/A

4. Does the government’s intent in owning a majority of the equity interest in a legally separate organization determine whether the organization is presented as a component unit or an investment of the primary government? [ GASB 14, par. 55 , as amended by GASB 61, par. 10 ]

Yes

5. If the government's ownership of a majority equity interest is reported as a discretely presented component unit: [ GASB 61, par. 10 ]

N/A

a. Is the equity interest reported as an asset of the fund that has the equity interest (subject to reporting requirements for governmental funds)?

N/A

b. Are changes in the equity interest reported pursuant to the requirements in pars. 73 and 74 of GASB 14 ?

N/A

6. Is certain information about each major component unit, except for those that are fiduciary in nature, and the aggregate of nonmajor component units provided by presenting one of the following: [ GASB 14, par. 51 , as amended by GASB-34, par. 126, fns. 49–50 and GASB 61, par. 7 ( GASB Cod. Secs. 2600.108–109 ) ]

N/A

a. Presenting each major component unit in a separate column in the reporting entity’s government-wide financial statements, with nonmajor component units aggregated in a single column?

N/A

b. Including combining statements of major component units in the reporting entity’s basic statements after the fund financial statements, with nonmajor component units aggregated in a single column?

N/A

c. Presenting condensed financial statements in the notes to the reporting entity’s financial statements?

N/A

7. If the government is engaged only in business-type activities and reports in a single column for financial statement presentation, if it is blending a component unit by consolidating its financial statement data within the single column and presenting condensed combining information, do the notes to the financial statements include, at a minimum, a condensed statement of net assets, condensed

N/A



statement of revenues, expenses, and changes in net assets, and a condensed statement of cash flows? [ GASB 14, par. 54 , as amended by GASB 61, par. 9 ]

8. If transactions between component units that have different fiscal years result in inconsistencies in amounts reported as due to or due from, and so forth, are the nature and amount of those transactions disclosed in the notes to the financial statements? [ GASB 14, par. 60 , as amended by GASB-34, par. 61 ( GASB Cod. Sec. 2600.119 ) ]

N/A

9. If the fiscal year of a component unit included in the reporting entity is not consistent from year to year, are changes in fiscal years disclosed? [ GASB 14, par. 60 ( GASB Cod. Sec. 2600.119 ) ]

N/A

10. In proprietary funds that participate in joint ventures in which there is an equity interest, is the “equity interest in joint venture” account reported in the proprietary fund's statement of net position and the fund’s share of the joint venture’s change in net position reported in its statement of revenues, expenses, and changes in fund net position? [ GASB 14, par. 73 , as amended by GASB-34, par. 91 and GASB 61, par 10 ( GASB Cod. Sec. J50.106 ) ]

N/A

11. In governmental funds that participate in joint ventures in which there is an equity interest, are amounts reported in the balance sheet limited to amounts appropriately reported under the current financial resources measurement focus and amounts reported in the statement of revenues, expenditures, and changes in fund balances limited to amounts received or receivable from or paid or payable to the joint venture and that satisfy the revenue or expenditure recognition criteria for governmental funds? [ GASB 14, par. 74 ( GASB Cod. Sec. J50.107 ) ]

N/A

12. In the government-wide financial statements, are equity interests in joint ventures reported in the same manner as in proprietary funds? [ GASB-34, par. 16 ( GASB Cod. Sec. J50.108 ) ]

N/A

13. For all joint ventures, does the entity disclose a general description, including: [ GASB 14, par. 75 ; GASB 45, par. 4 ( GASB Cod. Sec. J50.109 ) ]

N/A

a. A description of the participating government’s ongoing financial interest (including its equity interest, if applicable) or ongoing financial responsibility?

N/A

b. Enough information to allow the reader to evaluate whether the joint venture is accumulating significant financial resources or is experiencing fiscal stress that may cause an additional financial benefit or burden on the participating government in the future?

N/A

c. Information about the availability of separate financial statements of the joint venture?

N/A

d. Required information about related-party transactions? N/A

14. For jointly governed organizations, has the entity disclosed required information about related-party transactions? [ GASB 14, par. 77 ; GASB 56, par. 4 ( GASB Cod. Sec. J50.111 ) ]

N/A

15. Does an entity that participates in an undivided interest report its assets, liabilities, expenditures/expenses, and revenues that are associated with the joint operation? [ GASB 14, par. 80 ( GASB Cod. Sec. J50.114 ) ]

N/A



16. If a separate organization is created in which there is both an undivided interest in specific assets and liabilities and equity interests in the other net resources of the organization (a hybrid arrangement), does the participant report using the guidance for both undivided interests and joint ventures? [ GASB 14, par. 80 ( GASB Cod. Sec. J50.114 ) ]

N/A

17. Do the notes disclose, for each major component unit, the nature and amount of significant transactions with the primary government and other component units? [ GASB 34, par. 128 ( GASB Cod. Sec. 2600.110 ) ]

Yes

18. Do the notes disclose the following information about related-party transactions with related organizations and other related parties: [ NCGAI 6, par. 5 ( GASB Cod. Sec. 2300.107f ); GASB 56, par. 4 ( GASB Cod. Secs. 2250.102 and 2300.107f ); AAG-SLG, par. 13.13 ; GASB 62, par. 55 ]

Yes

a. The nature of the relationship(s)? Yes

b. A description of the transactions, including leasing transactions and transactions to which no amount or nominal amounts were ascribed, for each of the periods for which financial statements are presented, and such other information deemed necessary to understand the effects of the transactions on the financial statements?

Yes

c. The dollar amounts of transactions for each of the periods for which results of operations are presented and the effects of any change in the method of establishing the terms from that used in the preceding period?

Yes

d. Amounts due from or to related parties as of the date of each financial position statement presented and, if not otherwise apparent, the terms and manner of settlement?

Yes


Information about Deferred Outflows and Deferred Inflows of Resources and the Effect on Net Position Yes, No, N/A

1. If balances of deferred outflows of resources and deferred inflows of resources reported in a statement of net position or a governmental fund balance sheet are aggregations of different types of deferred amounts, does the government provide details of the different types of deferred amounts in the notes to the financial statements if significant components of the total deferred amounts are obscured by aggregation? [ GASB-63, par. 13 , ( GASB Cod Sec. 2300.130 ) ]

Yes

2. If the amount reported for a component of net position (net investment in capital assets, restricted, and unrestricted) might be significantly affected by a transaction that has resulted in recognition of a deferred outflow of resources or deferred inflow of resources and if the difference between a deferred outflow of resources or deferred inflow of resources and the balance of the related asset or liability is significant, does the entity provide an explanation of that effect on its net position in the notes to the financial statements? [ GASB-63, par. 14 , ( GASB Cod Sec. 2300.131 ) ]

N/A



Inventories Yes, No, N/A

1. Are major categories of material inventories presented, if practicable? [ GASB 62, par. 201 ]

Yes

2. Are valuation allowances for inventory losses deducted from related inventory balances? [ GASB 62, par. 200 ]

N/A

3. If material, are losses resulting from the write down from cost to market disclosed? [ GASB 62,Par. 194 ]

N/A

4. If the LIFO inventory method is used is the difference between the LIFO amount and replacement cost (LIFO reserve) disclosed? [Generally Accepted Practice]

N/A

5. Are amounts from the liquidation of a LIFO layer disclosed? [Generally Accepted Practice]

N/A

6. Have material losses on inventory purchase commitments been recorded and properly disclosed? [ GASB 62, par. 200 ]

N/A

7. Are significant amounts of governmental fund inventories (for example, materials and supplies) reported in the balance sheet of the governmental funds? [ NCGA 1, par. 73 ( GASB Cod. Secs. 1600.127 ) ]

N/A

8. If the entity uses the purchases method to account for inventories, does it display the change in the nonspendable fund balance for inventories as an expenditure? [ GASB 54, pars. 6 NCGAS 1, par. 73 ]

N/A


Leases Yes, No, N/A

1. Does the entity apply the criteria of pars. 211–271 of GASB 62 , to its lease agreements subject to the accounting and financial reporting distinctions of governmental funds? [ GASB 62, pars. 211–271 ]

N/A

2. Are lease receivables and payables associated with capital lease arrangements between the primary government and public authorities reported as discretely presented component units (or between those component units) not combined with other amounts due to/from component units or with capital lease receivables and payables with organizations outside the reporting entity? [ GASB 14, par. 58 ( GASB Cod. Secs. 2600.117 and L20.122 ) ]

N/A

3. Are initial direct costs of operating leases shown as an expense or expenditure in the period incurred?

[ GASB-65, par. 17 ( GASB Cod. Sec. L20.133 ) ]

N/A

4. For sale – leaseback transactions, is the gain or loss on the sale of property accompanied by the leaseback of all or any part of the property for all or part of its economic life recorded as a deferred inflow of resources or deferred outflow of resources?

[ GASB-65, par. 18 ( GASB Cod. Sec. L20.157 ) ]

N/A

a. Is the deferred inflow of resources or deferred outflow of resources amortized systematically and rationally over the lease term in proportion to the

N/A


Leases Yes, No, N/A

recognition of the leased asset (capital lease) or in proportion to the related gross rental charged to expense / expenditure over the lease term (operating lease)?

Lessees Choose an item

5. Are capital leases that represent the acquisition or construction of a general capital asset reported as expenditures and other financing sources in a governmental fund? [ NCGA 5, par. 14 , as amended by GASB-34, pars. 80 and 82 ( GASB Cod. Secs. 1800.112 and L20.113 ) ]

Yes

6. Are capital lease obligations separately identified in the applicable financial position statements and subject to the same considerations as other obligations in classifying them with current and noncurrent liabilities in classified financial position statements? [ NCGAS 5, par. 12 ( GASB Cod. Sec. L20.109 ); FAS 13, par. 13 ]

Yes

7. Are accrued liabilities for operating leases with scheduled rent increases reported in the government-wide and proprietary and fiduciary fund financial statements, but only reported in the governmental fund financial statements to the extent the liabilities are “normally expected to be liquidated with expendable available financial resources”? [ GASB 13, pars. 7 and 9 , as amended by GASB-34 ( GASB Cod. Secs. L20.107 and .108 ) ]

N/A

8. Prior to the expiration of the lease term, if a change in the provisions of a lease results from a refunding by the lessor of tax-exempt debt, including an advance refunding, in which (a) the perceived economic advantages of the refunding are passed through to the lessee and (b) the revised agreement is classified as a capital lease by the lessee, then did the lessee adjust the lease obligation to the present value of the future minimum lease payments under the revised lease?

[ GASB-65, par. 7 , ( GASB Cod. Sec. L20.116 ) ]

N/A

9. Does the lessee entity disclose the future minimum payments for each of the five subsequent fiscal years and in five-year increments thereafter for its obligations under capital and noncancelable operating leases? [ NCGA 5, par. 27 , as amended by GASB 38, par. 11 ( GASB Cod. Sec. L20.125 ) ]

Yes

10. Does the lessee entity disclose the following in the notes to the financial statements: [ NCGA 5, par. 27 , as amended by GASB 38, par. 11 ( GASB Cod. Sec. L20.125 ) ]

Yes

a. A general description of the lessee’s leasing arrangements including, but not limited to: [ GASB 62, par.223 ]

Yes

(1) The basis on which contingent rental payments are determined? Yes

(2) The existence and terms of renewal or purchase options and escalation clauses?

N/A

(3) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing?

N/A

b. For capital leases: [ GASB 62, par.223 ] Yes

(1) The gross amount of assets recorded under capital leases as of the date of each set of financial statements presented by major classes according to nature or function? (This information may be combined with the comparable information for owned assets.)

Yes


Leases Yes, No, N/A

(2) The total of minimum sublease rentals to be received in the future under noncancelable subleases as of the date of the latest financial statements presented?

N/A

(3) Total contingent rentals actually incurred for each period for which a flows statement is presented?

Yes

(4) Assets recorded under capital leases and the accumulated amortization thereon, unless separately identified in the applicable financial position statements?

Yes

(5) The amortization charge on assets recorded under capital leases, unless the charge is included with depreciation expense (with the fact that it is so disclosed) or unless it is separately identified in the financial statements?

Yes

c. For operating leases, rental expense/expenditure for each period for which a flows statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals? [ GASB 62, par.223 ]

Yes

d. For operating leases having initial or remaining noncancelable lease terms in excess of one year, future minimum rental payments required as of the date of the latest financial position statement presented, in the aggregate and for each of the five succeeding fiscal years? [ GASB 62, par.223 ]

Yes


Liabilities and Long-Term Debt Yes, No, N/A

1. Are liabilities due on demand, or within a year from the balance-sheet date (or operating cycle, if longer), presented as current liabilities and segregated by type? [ GASB 62, par. 34 ]

Yes

2. Are current maturities of long-term debt presented as current liabilities? [ GASB 62, par. 34 ]

Yes

3. Are debt issuance costs including all costs incurred to issue the bonds (including but not limited to insurance costs – net of rebates from the old debt if any, financing costs such as rating agency fees and printing, legal, administrative, trustee expenses and similar, expensed in the period incurred?

[ GASB-65, par. 14 ( GASB Cod. Sec. Bn5.105 ) ]

N/A

4. Are long-term liabilities directly related to and expected to be paid from proprietary funds reported in the proprietary fund statement of net position and in the government-wide statement of net position? [ NCGA 1, par. 42 , as amended, and GASB-34, par. 30 and 92 ( GASB Cod. Sec. 1500.102 ) ]

N/A

5. Are long-term liabilities directly related to and expected to be paid from fiduciary funds (and similar component units) reported only in the statement of fiduciary net position? [ NCGA 1, par. 42 , as amended, and GASB 34, par. 6 , 13 , and 108 ( GASB Cod. Sec. 1500.102 ) ]

N/A

6. Are all other reported unmatured long-term liabilities of the government (except interfund liabilities, certain long-term demand bonds, long-term tax and revenue anticipation notes, and certain principal and interest payments due early in the

N/A



following year) not reported as liabilities in governmental funds but reported only in the governmental activities column in the government-wide statement of net position? [ NCGA 1, par. 43 , as amended, and GASB-34, par. 30 and 82 ( GASB Cod. Sec. 1500.103 ) ] [ NCGA 1, par. 72 ( GASB Cod. Sec. 1500.111 ); GASBI 6, par. 13 and fn. 5 ( GASB Cod. Secs. 1500.111–112 and fn. 3 ) ]

7. Are matured liabilities (other than those associated with proprietary or fiduciary funds) reported as governmental fund liabilities? [ GASBI 6, par. 10 ( GASB Cod. Sec. 1500.107 ) ]

N/A

8. For utility services reported in enterprise funds, are customer deposits for utility services reported in the fund and government-wide financial statements as liabilities until they are applied against unpaid billings or refunded to customers? [ AAG-SLG, par. 8.69 ]

N/A

9. Are accrued liabilities for compensated absences reported in the government-wide and proprietary and fiduciary fund financial statements, but only reported in the governmental fund financial statements to the extent the liabilities are “normally expected to be liquidated with expendable available financial resources”? [ GASB 16, par. 13 , as amended by GASB 34, par. 6 , 79, and 82 , and GASBI 6, pars. 14 and 16 ( GASB Cod. Sec. C60.111 ); GASB-34, par. 16 , 31 , 92 , and 107 ( GASB Cod. Sec. C60.109–110 ) ]

Yes

10. If applicable, does the entity report a liability for lottery prizes, except when the entity has purchased an annuity in the name of a prize-winner, in which case the entity does not report a liability or asset, but discloses in the financial statements that a contingent liability exists? [ AAG-SLG, pars. 12.118–121 ]

N/A

11. With regard to bond, tax, and revenue anticipation notes: N/A

a. Are proprietary fund bond, tax, and revenue anticipation notes reported as current or long-term liabilities depending on the refinancing status in accordance with the criteria in GASB 62, par 36-38 , and reported in the business-type activities column of the government-wide statement of net position? [ NCGAI 9, par. 12 ( GASB Cod. Sec. B50.101 ); GASB 62, par 36-38 ; GASB-34, par. 15 ( GASB Cod. Sec. B50.103 ) ]

N/A

b. With regard to bond, tax, or revenue anticipation notes reported in governmental funds: [ NCGAI 9, par. 12 , as amended by GASB-34, par. 82 ( GASB Cod. Sec. B50.102 ); GASB-34, par. 15 ( GASB Cod. Sec. B50.103 ) ]

N/A

(1) If bond anticipation notes meet the criteria for reporting on a long-term basis set forth in GASB 62 , are they not reported in the governmental funds but reported only as general long-term liabilities in the governmental activities column of the government-wide statement of net position?

N/A

(2) If bond anticipation notes do not meet the criteria for reporting on a long-term basis, are they reported both in the governmental fund receiving the proceeds and in the governmental activities column of the government-wide statement of net position?

N/A

(3) Are tax and revenue anticipation notes reported as a liability in the governmental fund receiving proceeds and in the governmental activities column of the government-wide statement of net position?

N/A

12. With regard to debt refundings reported in governmental funds: [ GASB 7, par. 8 , as amended by GASB-34, pars. 82 and 88 , and GASB 37, par. 16 ( GASB Cod.

N/A



Secs. 1800.109 and D20.106 ) ]

a. For current and advance refundings resulting in defeasance of general long-term debt, is the face amount of the new debt reported as an “other financing source—refunding bonds” in the governmental fund receiving the proceeds?

N/A

b. For advance refundings, are payments to the escrow agent from resources provided by the new debt reported as an “other financing use—payment to refunded bond escrow agent” and are payments to the escrow agent made from other resources of the entity reported as debt service expenditures?

N/A

13. For current and advance refundings in proprietary funds, is the unamortized difference between the reacquisition price and the net carrying amount of the old debt reported as either a deferred outflow of resources or a deferred inflow of resources and recognized as a component of interest expense in a systematic and rational manner over the remaining life of the old debt or the life of the new debt, whichever is shorter? [ GASB-65, par. 6 ( GASB Cod. Sec. D20.108 ); ( GASB Cod. Sec. D20, fn. 6 ) ]

Yes

14. In the government-wide financial statements, are all current and advance refundings, including refundings of general long-term debt (which should be reported in the governmental activities column), reported in the same manner as in proprietary fund financial statements? [ GASB-34, par. 16 and 82 ( GASB Cod. Sec. D20.110 ) ]

Yes

15. With regards to demand bonds: N/A

a. Are demand bonds reported as general long-term liabilities (and reported only in the government-wide statement of net position) or excluded from current liabilities of proprietary funds if all of the following conditions are met: [ GASBI 1, par. 10 , as amended by GASB-34, par. 12 , 82, and 97 ( GASB Cod. Sec. D30.108 ) ]

N/A

(1) Before the financial statements are issued, the issuer has entered into an arm’s-length financing (take-out) agreement to convert bonds “put” but not resold into some other form of long-term obligation?

N/A

(2) The take out agreement does not expire within one year from the issuer’s financial statement date?

N/A

(3) The take out agreement is not cancelable by the lender or the prospective lender during that year, and obligations incurred under the take out agreement are not callable by the lender during that year?

N/A

(4) The lender or the prospective lender or investor is expected to be financially capable of honoring the take out agreement?

N/A

b. If the conditions listed above are not met, are demand bonds reported as liabilities in the governmental fund used to account for the proceeds of the bond issue or, in the case of proprietary funds, as current liabilities? [ GASBI 1, par. 10 ( GASB Cod. Secs. 1800.111 and D30.108 ); GASBI 1, par. 13 ( GASB Cod. Secs. 1800.111 and D30.109 ) ]

N/A

c. If, because a take out agreement expires, it is necessary to report a liability in a governmental fund for demand bonds previously reported only in the government-wide statement of net position, is the liability reported as a liability of the governmental fund in which the proceeds of the issue were initially reported with a corresponding debit to “other financing uses”? [

N/A



GASBI 1, par. 13 ( GASB Cod. Secs. 1800.111 and D30.109 ); GASB-34, par. 82 ( GASB Cod. Sec. D30.109 ) ]

d. Are redemptions of demand bonds reported in governmental funds reported as expenditures of the fund from which debt service is normally paid and the demand bond liability reduced simultaneously by a credit to “other financing sources”? [ GASBI 1, par. 13 ( GASB Cod. Secs. 1800.111 and D30.109 ) ]

N/A

e. If a take out agreement has been exercised converting demand bonds to an installment loan, is the installment loan reported as general long-term debt (or as long-term debt in the proprietary funds and business-type activities) and is the payment schedule under the installment loan included as part of the schedule of debt service requirements to maturity? [ GASBI 1, par. 12 ( GASB Cod. Sec. D30.112 ) ]

N/A

16. With regards to debt covenant violations: N/A

a. Are long-term obligations that are or will be callable by the creditor (because the debtor’s violation of a provision of the debt agreement at the financial statement date makes the obligation callable or because the violation, if not cured within a specified grace period, will make the obligation callable) classified as a current liability unless one of the following conditions is met: [ GASB 62, par. 34 ]

N/A

(1) The creditor has waived or subsequently lost the right to demand repayment for more than one year (or operating cycle, if longer) from the financial statement date?

N/A

(2) For long-term obligations containing a grace period within which the debtor may cure the violation, it is probable that the violation will be cured within that period, thus preventing the obligation from becoming callable?

N/A

b. If an obligation resulting from callable debt is classified as a long-term liability, are the circumstances disclosed? [ GASB 62, par. 44 ]

N/A

17. Do the notes to the financial statements disclose the following: Yes

a. Does the entity disclose the changes (increases and decreases reported separately) in long-term liabilities (both long-term debt, such as bonds, notes, loans, and leases payable, and other long-term liabilities, such as compensated absences and claims and judgments), divided between liabilities associated with governmental activities and those associated with business-type activities? [ GASB-34, pars. 116–119 ( GASB Cod. Secs. 2300.111 and .114 ) ]

Yes

b. The portions of each type debt that are due within one year of the statement date? [ GASB-34, par. 119 ( GASB Cod. Sec. 2300.114 ) ]

Yes

c. Which governmental funds typically have been used to liquidate other long-term liabilities (such as compensated absences) in prior years? [ GASB-34, par. 119 ( GASB Cod. Sec. 2300.114 ) ]

N/A

d. The following details of debt service requirements to maturity: [ GASB 38, par. 10 ( GASB Cod. Secs. 1500.118 and 2300.106j ) ]

Yes

(1) Principal and interest requirements to maturity, presented separately, for each of the five subsequent fiscal years and in five-year increments

Yes



thereafter?

(2) The terms by which interest rates change for variable-rate debt? Yes

e. The total amount of interest cost incurred and the amount capitalized and the amount expensed during the period? [ GASB 62, par. 22 ]

Yes

f. If the entity excludes bond, tax, and revenue anticipation notes from fund or current liabilities, do the notes disclose a general description of the financing agreement and the terms of any new obligation incurred or expected to be incurred as a result of a refinancing? [ NCGAI 9, par. 12 ( GASB Cod. Sec. 2300.107p ) ]

N/A

g. With regard to conduit debt: [ GASBI 2, par. 3 ( GASB Cod. Sec. C65.102 ) ] N/A

(1) A general description of the conduit debt transactions? N/A

(2) The aggregate amount of all conduit debt obligations outstanding at the financial statement date?

N/A

(3) A clear indication that the issuer has no obligation for the debt beyond the resources provided by related leases or loans?

N/A

h. With regards to debt refundings: [ GASB 7, pars. 11–14 ( GASB Cod. Sec. D20.111–114 ); GASB 23, par. 6 ( GASB Cod. Sec. D20.115 ) ]

Yes

(1) For debt defeased through an advance or current refunding, does the entity disclose a general description of the transaction in the year of the refunding that includes, at a minimum, the difference between the cash flows required to service the old debt and the cash flows required to service the new debt and complete the refunding and the economic gain or loss resulting from the transaction?

Yes

(2) For debt defeased through an advance refunding, does the entity disclose the amount of that debt, if any, outstanding at the financial statement date?

Yes

i. With regard to demand bonds, do the notes disclose: [ GASBI 1, par. 11 ( GASB Cod. Sec. D30.111 ) ]

N/A

(1) A general description of the demand bond program? N/A

(2) Terms of any letters of credit or other standby liquidity agreements outstanding, commitment fees to obtain the letters of credit, and any amounts drawn on them outstanding as of the financial statement date?

N/A

(3) A description of the take out agreement including its expiration date, commitment fees to obtain that agreement, and the terms of any new obligation under the take out agreement?

N/A

(4) The debt service requirements that would result if the take out agreement were to be exercised?

N/A

j. With regard to troubled debt restructuring, do the notes disclose: [ GASB 62, par. 148 ]

N/A

(1) Extent to which amounts contingently payable are included in the carrying amount of restructured payables?

N/A

(2) Total amounts contingently payable, if applicable, and conditions under N/A



which those amounts would become payable or forgiven?

Nonexchange Transactions Yes, No, N/A

1. Are nonexchange transaction resources received or reported as receivable before time requirements are met, but after all other eligibility requirements are met recorded as deferred inflows of resources by the receiving government? [ GASB-65, par. 10 ( GASB Cod. Sec. N50. 116, .118 )

Yes

2. Are nonexchange transaction resources paid or reported as payable before time requirements are met, but after all other eligibility requirements are met recorded as deferred outflows of resources by the transferring government? [ GASB-65, par. 10 , ( GASB Cod. Sec. N50. 116, .118 )

N/A

3. Are nonexchange transaction resources received before eligibility requirements are met, but excluding time requirements reported as a liability (typically an advance of revenues)? [ GASB-65, par. 10 , ( GASB Cod. Sec. N50. 116, .118 )

N/A

4. Are nonexchange transaction resources transmitted before eligibility requirements are met, but excluding time requirements, reported as an asset (typically an advance of resources)? [ GASB-65, par. 10 , ( GASB Cod. Sec. N50. 116, .118 )

N/A

5. With regard to food stamp transactions: N/A

a. Are food stamp balances held by the state or by its agents at the financial statement date reported as an asset, but not classified as cash or cash equivalents? [ GASB 24, par. 6 and fn. 5 ( GASB Cod. Sec. F60.101 and fn. 3 ); GASB-34, par. 12 ( GASB Cod. Sec. F60.102 ) ]

N/A

b. In governmental funds, are food stamp balances offset by deferred revenue? [ GASB 24, par. 6 ( GASB Cod. Sec. F60.101 ) ]

N/A

c. If the entity is a state government, does it report distributions of food stamp benefits as revenue and expenditures in the general fund or a special revenue fund and as revenues and expenses in the governmental activities column of the government-wide financial statements? [ GASB 24, par. 6 ( GASB Cod. Sec. F60.101 ); GASB-34, par. 12 ( GASB Cod. Sec. F60.102 ) ]

N/A

6. Does the entity report fees received for administering pass-through grants as revenues? [ AAG-SLG, par. 8.42 ]

Yes

7. Does the entity report retiree drug subsidy payment received from the federal government under Medicare Part D as voluntary nonexchange revenues? [ GTB 2006-1, pars. 2–3 ( GASB Cod. Secs. P50.602 and Po50.601 ) ]

N/A

8. For on-behalf payments, does the paying government classify the expenditures or expenses for the on-behalf payments for fringe benefits and salaries that it makes in the same manner that it classifies similar cash grants to other entities? [ GASB 24, par. 13 , as amended by GASB-34, par. 16 ( GASB Cod. Sec. N50.135 ) ]

N/A

9. For property tax payments and other imposed nonexchange revenue transactions, are deferred inflows of resources reported when resources are received or reported as a receivable before (a) the period for which property taxes are levied or (b) the period when resources are required to be used or when use is first permitted for all other imposed nonexchange revenues in which the enabling legislation includes time requirements? [ GASB-65, par. 9 , ( GASB Cod. Secs.

N/A


Nonexchange Transactions Yes, No, N/A

N50.115 ) ]


Pensions—Employer Reporting Yes, No, N/A

Defined Benefit Pensions - Cost-Sharing Employers Yes

1. For all cost-sharing employers, has the following information been disclosed in the notes to the financial statements:

Note: If similar information is required by GASB 68 and GASB 67 , an employer that includes the pension plan in its financial reporting entity as a pension trust fund or as a fiduciary component unit should present information in a manner that avoids unnecessary duplication.

Yes

a. If the total amounts are not otherwise identifiable from information presented in the financial statements, total (aggregate for all pensions, whether provided through cost-sharing, single-employer, or agent pension plans) of the employer's pension liabilities, pension assets, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense/expenditures for the period associated with net pension liabilities? [ GASB 68, par. 74 ]

Yes

b. For the pension plan through which benefits are provided: GASB 68, par. 76

Note: The following disclosures are required for benefits provided through each cost-sharing pension plan in which the employer participates. Disclosures related to more than one pension plan should be combined in a manner that avoids unnecessary duplication.

Yes

(1) The name of the plan, identification of the public employee retirement system or other entity that administers the pension plan, and identification of the pension plan as a cost-sharing pension plan?

Yes

(2) A brief description of the benefit terms including: Yes

(a) The classes of employees covered? Yes

(b) The types of benefits? Yes

(c) The key elements of the pension formulas? Yes

(d) The terms or policies, if any, with respect to automatic post-employment benefit changes, including automatic COLAs, and ad hoc post-employment benefit changes, including ad hoc COLAs?

N/A

(e) The authority under which benefit terms are established or may be amended?

Yes

(f) If applicable, the fact that the pension plan is closed to new entrants? N/A

(3) A brief description of contribution requirements, including: Yes

(a) The basis for determining the employer's contributions to the pension plan (for example, statute, contract, an actuarial basis, or some other manner)?

Yes

(b) Identification of the authority under which contribution requirements of Yes



employers, nonemployer contributing entities, if any, and employees are established or may be amended?

(c) The contribution rates (in dollars or as a percentage of covered payroll) of those entities for the reporting period?

Yes

(d) If not otherwise disclosed, the amount of contributions recognized by the pension plan from the employer during the reporting period (measured as the total of amounts recognized as additions to the pension plan's fiduciary net position resulting from actual contributions and from contributions recognized by the pension plan as current receivables)?

Yes

(4) Whether the pension plan issues a stand-alone financial report (or the pension plan is included in the report of a public employee retirement system or another government) that is available to the public and, if so, how to obtain the report (for example, a link to the report on the public employee retirement system's website)?

Yes

c. In regard to information about the employer's proportionate share of the collective net pension liability:

Yes

(1) For assumptions and other inputs:


Yes

(a) Significant assumptions and other inputs used to measure the total pension liability including assumptions about inflation, salary changes, and ad hoc postemployment benefit changes (including ad hoc COLAs)? [ GASB 68, par. 77 ]

Yes

(b) With regard to mortality assumptions, the source of the assumptions (for example, the published tables on which the assumption is based or that the assumptions are based on a study of the experience of the covered employees)? [ GASB 68, par. 77 ]

Yes

(c) The dates of experience studies on which significant assumptions are based? [ GASB 68, par. 77 ]

Yes

(d) If different rates are assumed for different periods, information about what rates are applied to the different periods of the measurement? [ GASB 68, par. 77 ]

Yes

(e) In regard to the discount rate: [ GASB 68, Par. 78 ] Yes

i. The discount rate applied in the measurement of the total pension liability and the change in the discount rate since the prior measurement date, if any?

Yes

ii. Assumptions made about projected cash flows into and out of the pension plan, such as contributions from employers, nonemployer contributing entities, and employees?

Yes

iii. The long-term expected rate of return on pension plan investments and a brief description of how it was determined, including significant methods and assumptions used for that purpose?

Yes



iv. If the discount rate incorporates a municipal bond rate, the municipal bond rate used and the source of that rate?

Yes

v. The periods of projected benefit payments to which the long-term expected rate of return and, if used, the municipal bond rate applied to determine the discount rate?

N/A

vi. If not otherwise disclosed, the assumed asset allocation of the pension plan's portfolio, the long-term expected real rate of return for each major asset class, and whether the expected rates of return are presented as arithmetic or geometric means?

Yes

vii. Measures of the employer's proportionate share of the collective net pension liability calculated using (1) a discount rate that is 1-percentage-point higher than that required by GASB 68, par. 64 and (2) a discount rate that is 1-percentage-point lower than that required by GASB 68, par. 64 ?

Yes

(2) If (a) a financial report that includes disclosure about the elements of the pension plan's basic financial statements is available on the Internet, either as a stand-alone financial report or included as a fiduciary fund in the financial report of another government and (b) information is provided about how to obtain the report: [ GASB 68, par. 79 ]


Yes

(a) Reference made to the other report for these disclosures? Yes

(b) The fact that the pension plan's fiduciary net position has been determined on the same basis used by the pension plan?

Yes

(c) A brief description of the pension plan's basis of accounting, including the policies with respect to benefit payments (including refunds of employee contributions) and the valuation of pension pan investments?

Yes

(d) If significant changes have occurred that indicate that the disclosures included in the pension plan's financial report generally do not reflect the facts and circumstances at the measurement date, information about the substance and magnitude of the changes?

N/A

d. Additionally, the following information, if applicable: [ GASB 68, par. 80 ]


Yes

(1) The employer's proportionate share (amount) of the collective net pension liability and if an employer has a special funding situation:

Yes

(a) The portion of the nonemployer contributing entities' total proportionate share (amount) of the collective net pension liability that is associated with the employer?

Yes

(b) The total of the employer's proportionate share (amount) of the collective net pension liability and the portion of the nonemployer

Yes



contributing entities' total proportionate share of the collective net pension liability that is associated with the employer?

(2) The employer's proportion (percentage) of the collective net pension liability, the basis on which its proportion was determined, and the change in its proportion since the prior measurement date?

Yes

(3) The measurement date of the collective net pension liability, the date of the actuarial valuation on which the total pension liability is based, and, if applicable, the fact that update procedures were used to roll forward the total pension liability to the measurement date?

Yes

(4) A brief description of changes of assumptions or other inputs that affected measurement of the total pension liability since the prior measurement date?

Yes

(5) A brief description of changes of benefit terms that affected measurement of the total pension liability since the prior measurement date?

Yes

(6) A brief description of the nature of changes between the measurement date of the collective net pension liability and the employer's reporting date that are expected to have a significant effect on the employer's proportionate share of the collective net pension liability, and the amount of the expected resultant change in the employer's proportionate share of the collective net pension liability, if known?

Yes

(7) The amount of pension expense recognized by the employer in the reporting period?

Yes

(8) The employer's balances of deferred outflows of resources and deferred inflows of resources related to pensions, classified as follows, if applicable:

Yes

(a) Differences between expected and actual experience in the measurement of the total pension liability?

Yes

(b) Changes of assumptions or other inputs? Yes

(c) Net difference between projected and actual earnings on pension plan investments?

Yes

(d) Changes in the employer's proportion and differences between the employer's contributions (other than those to separately finance specific liabilities of the individual employer to the pension plan) and the employer's proportionate share of contributions?

Yes

(e) The employer's contributions to the pension plan subsequent to the measurement date of the collective net pension liability?

Yes

(9) A schedule presenting the following: Yes

(a) For each of the subsequent five years and in the aggregate thereafter, the net amount of the employer's balances of deferred outflows of resources and deferred inflows of resources in item d(9) that will be recognized in the employer's pension expense?

Yes

(b) The amount of the employer's balance of deferred outflows of resources in item d(9) that will be included as a reduction of the collective net pension liability?

Yes

(10) The amount of revenue recognized for the support provided by Yes



nonemployer contributing entities, if any?

Pensions - Employer Reporting - Where Pensions Are NOT Administered Through a Trust or Equivalent Arrangement ( GASB-73 )

Choose an item

2. Does the employer provide the following descriptive information about the pension plan through which benefits are provided? [ GASB-73, par. 41 ]:

Choose an item

a. The name of the pension plan, identification of the public employee retirement system or other entity that administers the pension plan, and identification of the pension plan as a single-employer or multiple-employer defined benefit pension plan?

Choose an item

b. A brief description of the benefit terms, including: Choose an item

(1) The classes of employees covered? Choose an item

(2) The types of benefits? Choose an item

(3) The key elements of the pension formulas? Choose an item

(4) The terms or policies, if any, with respect to automatic post-employment benefit changes, including automatic COLAs, and ad hoc post-employment benefit changes, including ad hoc COLAs?

Choose an item

(5) The authority under which benefit terms are established or may be amended? [If the pension plan is closed to new entrants, that fact should be disclosed]?

Choose an item

c. The number of employees covered by the benefit terms, separately identifying numbers of the following:

Choose an item

(1) Inactive employees currently receiving benefit payments? Choose an item

(2) Inactive employees entitled to but not yet receiving benefit payments? Choose an item

(3) Active employees? Choose an item

d. The fact that there are no assets accumulated in a trust that meets the criteria for an irrevocable trust? [If pensions are provided through a pension plan that is administered through a trust and that trust does not meet the criteria, each criterion that the trust does not meet should be disclosed].

Choose an item

e. Identification of the authority under which requirements for the employer and nonemployer contributing entities, if any, to pay pensions as the benefits come due are established or may be amended? [Also, the amount paid by the employer for pensions as the benefits came due during the reporting period, if not otherwise disclosed.]

Choose an item

3. Does the employer disclose significant assumptions and other inputs used to measure the total pension liability, including assumptions about: [ GASB-73, par. 42 ]

Choose an item

a. Inflation? Choose an item

b. Salary changes? Choose an item

c. Ad hoc postemployment benefit changes (including ad hoc COLAs)? Choose an item

d. With regard to mortality assumptions, the source of the assumptions (for example, the published tables on which the assumptions are based or that the

Choose an item



assumptions are based on a study of the experience of the covered group)?

e. The dates of experience studies on which significant assumptions are base. With regard to the discount rate, the rate applied in the measurement and the source of that rate?

Choose an item

f. Measures of the total pension liability (or, if an employer has a special funding situation, the employer's proportionate share of the total pension liability) calculated using the following sensitivity to the calculated discount rate:

Choose an item

(1) a discount rate that is 1-percentage-point higher? Choose an item

(2) a discount rate that is 1-percentage-point lower? Choose an item

4. For the current reporting period, does the employer provide a schedule of changes in the total pension liability including the following:

[ GASB-73, par. 43 ]

Choose an item

a. The beginning balance of the total pension liability? Choose an item

b. The effects during the period of the following items, if applicable, on the total pension liability:

Choose an item

(1) Service cost? Choose an item

(2) Interest on the total pension liability? Choose an item

(3) Changes of benefit terms? Choose an item

(4) Differences between expected and actual experience in the measurement of the total pension liability?

Choose an item

(5) Changes of assumptions or other inputs? Choose an item

(6) Benefit payments? Choose an item

(7) Other changes, separately identified if individually significant? Choose an item

c. The ending balance of the total pension liability? Choose an item

d. If the employer has a special funding situation: Choose an item

(1) The nonemployer contributing entities' total proportionate share of the total pension liability?

Choose an item

(2) The employer's proportionate share of the total pension liability? Choose an item

5. The following should be disclosed if applicable:

[ GASB-73, par. 44 ]

Choose an item

a. The measurement date of the total pension liability, the date of the actuarial valuation on which the total pension liability is based, and, if applicable, the fact that update procedures were used to roll forward the total pension liability to the measurement date?

Choose an item

b. If the employer has a special funding situation, the employer's proportion (percentage) of the total pension liability, the basis on which its proportion was determined, and the change in its proportion since the prior measurement date?

Choose an item

c. A brief description of changes of assumptions or other inputs that affected measurement of the total pension liability since the prior measurement date?

Choose an item



d. A brief description of changes of benefit terms that affected measurement of the total pension liability since the prior measurement date?

Choose an item

e. The amount of benefit payments in the measurement period attributable to the purchase of allocated insurance contracts, a brief description of the benefits for which allocated insurance contracts were purchased in the measurement period, and the fact that the obligation for the payment of benefits covered by allocated insurance contracts has been transferred from the employer to one or more insurance companies?

Choose an item

f. A brief description of the nature of changes between the measurement date of the total pension liability and the employer's reporting date that are expected to have a significant effect on the total pension liability (or, if the employer has a special funding situation, on the employer's proportionate share of the total pension liability), and the amount of the expected resultant change in the total pension liability (or, if the employer has a special funding situation, on the employer's proportionate share of the total pension liability), if known?

Choose an item

g. The amount of pension expense recognized by the employer in the reporting period?

Choose an item

h. The employer's balances of deferred outflows of resources and deferred inflows of resources related to pensions, classified as follows, if applicable:

Choose an item

(1) Differences between expected and actual experience in the measurement of the total pension liability?

Choose an item


(3) If the employer has a special funding situation, changes in the employer's proportion and differences between (a) the amounts paid by the employer for pensions as the benefits came due and (b) the employer's proportionate share of the total of certain amounts paid by the employer and nonemployer contributing entities for pensions as the benefits came due?

Choose an item

(4) Amounts associated with transactions subsequent to the measurement date of the total pension liability?

Choose an item

i. A schedule presenting the following: Choose an item

(1) For each of the subsequent five years, and in the aggregate thereafter, the net amount of the employer's balances of deferred outflows of resources and deferred inflows of resources that will be recognized in the employer's pension expense?

Choose an item

(2) If the employer does not have a special funding situation, the amount of the employer's balance of deferred outflows of resources that will be recognized as a reduction of the total pension liability?

Choose an item

(3) If the employer has a special funding situation, the amount of the employer's balance of deferred outflows of resources that will be included as a reduction of the total pension liability?

Choose an item

j. The amount of revenue recognized for the support provided by nonemployer contributing entities, if any?

Choose an item

Note Disclosure for Pensions in Stand-Alone Financial Statements of Primary Governments and Component Units That Provide Pensions Through the Same Defined Benefit Pension Plan - In Situations Without a Trust or Equivalent

Choose an item



Arrangement

6. For such situations, does the employer disclose the total (aggregate for all pensions, regardless of the type of pension plans through which the pensions are provided and whether the pension plans are administered through trusts that meet the criteria for a trust or equivalent arrangement of the government's pension liabilities, net pension assets (only for when trusts or equivalent arrangements are present), deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense / expenditures for the period associated with defined benefit pension liabilities to employees, as applicable, if the total amounts are not otherwise identifiable from information presented in the financial statements?

[ GASB-73, par. 61 ]

Choose an item

7. For such situations, does the employer disclose for benefits provided through each defined benefit pension plan in which the government participates (disclosures related to more than one pension plan should be combined in a manner that avoids unnecessary duplication): [ GASB-73, par. 62-65 ]

Choose an item


Choose an item






Choose an item


Choose an item

c. The fact that there are no assets accumulated in a trust? [If pensions are provided through a pension plan that is administered through a trust and that trust does not meet the criteria, each criterion that the trust does not meet should be disclosed].

Choose an item

d. Identification of the authority under which requirements for the government and nonemployer contributing entities to pay pensions as the benefits come due are established or may be amended? Also, the amount paid by the government for pensions as the benefits came due during the reporting period, if not otherwise disclosed.

Choose an item

8. Does the employer disclose significant assumptions and other inputs used to measure the total collective pension liability, including assumptions about: [ GASB-73, par. 64 ]

Choose an item






d. With regard to mortality assumptions, the source of the assumptions (for example, the published tables on which the assumptions are based or that the assumptions are based on a study of the experience of the covered group)?

Choose an item

(1) The dates of experience studies on which significant assumptions are base. With regard to the discount rate, the rate applied in the measurement and the source of that rate?

Choose an item

(2) Measures of the total pension liability (or, if an employer has a special funding situation, the employer's proportionate share of the total pension liability) calculated using the following sensitivity to the calculated discount rate:

Choose an item

(a) a discount rate that is 1-percentage-point higher? Choose an item

(b) discount rate that is 1-percentage-point lower? Choose an item

9. If applicable, does the government disclose: [ GASB-73, par. 65 ] Choose an item

a. The government's proportionate share (amount) of the collective total pension liability and if the government has a special funding situation:

Choose an item

(1) The portion of the nonemployer contributing entities' total proportionate share (amount) of the collective total pension liability that is associated with the government?

Choose an item

(2) The total of the government's proportionate share (amount) of the collective total pension liability and the portion of the nonemployer contributing entities' total proportionate share of the collective total pension liability that is associated with the government?

Choose an item

b. The government's proportion (percentage) of the collective total pension liability, the basis on which its proportion was determined, and the change in its proportion since the prior measurement date?

Choose an item

c. The measurement date of the collective total pension liability, the date of the actuarial valuation on which the collective total pension liability is based, and, if applicable, the fact that update procedures were used to roll forward the collective total pension liability to the measurement date?

Choose an item

d. A brief description of changes of assumptions or other inputs that affected measurement of the collective total pension liability since the prior measurement date?

Choose an item

e. A brief description of changes of benefit terms that affected measurement of the collective total pension liability since the prior measurement date?

Choose an item

f. A brief description of the nature of changes between the measurement date of the collective total pension liability and the government's reporting date that are expected to have a significant effect on the government's proportionate share of the collective total pension liability, and the amount of the expected resultant change in the government's proportionate share of the collective total pension liability, if known?

Choose an item

g. The amount of expense recognized by the government in the reporting period? Choose an item

h. The government's balances of deferred outflows of resources and deferred inflows of resources related to pensions, classified as follows, if applicable:

Choose an item

(1) Differences between expected and actual experience in the measurement of Choose an item



the collective total pension liability?


(3) Changes in the government's proportion and differences between (a) the amounts paid by the government for pensions as the benefits came due and (b) the government's proportionate share of the total of certain payments by all entities that make benefit payments?

Choose an item

(4) Amounts associated with transactions subsequent to the measurement date of the collective total pension liability?

Choose an item


(1) For each of the subsequent five years, and in the aggregate thereafter, the net amount of the government's balances of deferred outflows of resources and deferred inflows of resources that will be recognized in the government's expense?

Choose an item

(2) The amount of the government's balance of deferred outflows of resources that will be included as a reduction of the collective total pension liability?

Choose an item


Choose an item

For Governmental Nonemployer Contributing Entities to Plans That Do Not Have a Trust or Equivalent Arrangement in Accordance with GASB-73

Choose an item

10. Does the governmental nonemployer contributor disclose the following about the pension plan through which benefits are provided: [ GASB-73, par. 90 ]

Choose an item


Choose an item






Choose an item


Choose an item

c. The fact that there are no assets accumulated in a trust? [If pensions are provided through a pension plan that is administered through a trust and that trust does not meet the criteria, each criterion that the trust does not meet should be disclosed].

Choose an item

d. Identification of the authority under which requirements for the government and nonemployer contributing entities to pay pensions as the benefits come due are established or may be amended? (Also, the amount paid by the government for pensions as the benefits came due during the reporting period, if not

Choose an item



otherwise disclosed.)

11. Does the employer disclose significant assumptions and other inputs used to measure the total collective pension liability, including assumptions about: [ GASB-73, par. 91 ]

Choose an item




d. With regard to mortality assumptions, the source of the assumptions (for example, the published tables on which the assumptions are based or that the assumptions are based on a study of the experience of the covered group)?

Choose an item

e. The dates of experience studies on which significant assumptions are based? (With regard to the discount rate, the rate applied in the measurement and the source of that rate)

Choose an item

f. Measures of the total pension liability (or, if an employer has a special funding situation, the employer's proportionate share of the total pension liability) calculated using the following sensitivity to the calculated discount rate:

Choose an item

(1) A discount rate that is 1-percentage-point higher? Choose an item

(2) Discount rate that is 1-percentage-point lower? Choose an item

12. If applicable, does the government disclose: [ GASB-73, par.92 ] Choose an item

a. The governmental nonemployer's proportionate share (amount) of the collective total pension liability and if the government has a special funding situation:

Choose an item

b. The measurement date of the collective total pension liability, the date of the actuarial valuation on which the collective total pension liability is based, and, if applicable, the fact that update procedures were used to roll forward the collective total pension liability to the measurement date?

Choose an item

c. A brief description of changes of assumptions or other inputs that affected measurement of the collective total pension liability since the prior measurement date?

Choose an item

d. A brief description of changes of benefit terms that affected measurement of the collective total pension liability since the prior measurement date?

Choose an item

e. A brief description of the nature of changes between the measurement date of the collective total pension liability and the government's reporting date that are expected to have a significant effect on the government's proportionate share of the collective total pension liability, and the amount of the expected resultant change in the government's nonemployer contributing entity's proportionate share of the collective total pension liability, if known?

Choose an item

f. The amount of expense recognized by the governmental nonemployer contributing entity in the reporting period?

Choose an item

g. The governmental nonemployer contributing entity's balances of deferred outflows of resources and deferred inflows of resources related to pensions, classified as follows, if applicable:

Choose an item

(1) Differences between expected and actual experience in the measurement of Choose an item



the collective total pension liability?


(3) Changes in the government's proportion and differences between (a) the amounts paid by the government for pensions as the benefits came due and (b) the government's proportionate share of the total of certain payments by all entities that make benefit payments?

Choose an item

(4) Amounts associated with transactions subsequent to the measurement date of the collective total pension liability?

Choose an item

h. A schedule presenting the following: Choose an item


Choose an item

(2) The amount of the government's balance of deferred outflows of resources that will be included as a reduction of the collective total pension liability?

Choose an item

For Governmental Nonemployer Contributing Entities That Recognize Less than a Substantial Proportion of Total Pension Liability, That Contribute to Plans That Do Not Have a Trust or Equivalent Arrangement in Accordance with GASB-73

Choose an item

13. Does the governmental nonemployer contributing entity disclose the following: [ GASB-73, par. 95 ]

Choose an item

a. The name of the pension plan through which benefits are provided, identification of the public employee retirement system or other entity that administers the pension plan, and identification of the pension plan as a single-employer or multiple-employer pension plan?

Choose an item

b. The fact that there are no assets accumulated in a trust that meets the criteria for a trust or equivalent arrangement? [If pensions are provided through a pension plan that is administered through a trust and that trust does not meet the criteria, each criterion that the trust does not meet should be disclosed.]

Choose an item

c. Identification of the authority under which requirements for the governmental nonemployer contributing entity to pay pensions as the benefits come due are established or may be amended? (Also, the amount paid by the governmental nonemployer contributing entity for pensions as the benefits came due during the reporting period, if not otherwise disclosed.)

Choose an item

d. The governmental nonemployer contributing entity's proportionate share (amount) of the collective total pension liability, its proportion (percentage) of the collective total pension liability, the basis on which its proportion was determined, and the change, if any, in its proportion since the prior measurement date?

Choose an item

e. The amount of expense recognized by the governmental nonemployer contributing entity in the reporting period as a result of the special funding situation and its balances of deferred outflows of resources and deferred inflows of resources as a result of the special funding situation?

Choose an item



Postemployment Benefits Other Than Pensions—Employer Reporting (GASB45) Yes, No, N/A

1. For OPEB relating to governmental funds, is a positive (negative) year-end balance in the net OPEB obligation not reported in the governmental funds but as a general long-term liability (asset) only in the governmental activities column in the government-wide statement of net position? [ GASB 45, pars. 19–21 ( GASB Cod. Secs. P50.115 and .117 ) ]

N/A

2. For OPEB relating to proprietary funds and government-wide, is a positive (negative) year-end balance in the NPO reported as a year-end liability (asset) in the proprietary fund and government-wide financial statements? [ GASB 45, pars. 20–21 ( GASB Cod. Secs. P50.116–117 ) ]

N/A

3. For participation in defined benefit OPEB plans, is the following information disclosed in the notes to the financial statements: [ GASB 45, par. 24 ( GASB Cod. Sec. P50.120 ) ]

Yes

a. A plan description, including: Yes

(1) Name of the plan, identification of the PERS or other entity that administers the plan, and identification of the plan as a single-employer, agent multiple-employer, or cost-sharing multiple-employer defined benefit OPEB plan?

Yes

(2) Brief description of the types of benefits and the authority under which benefit provisions are established or may be amended?

Yes

(3) Whether the OPEB plan issues a stand-alone financial report or is included in the report of a PERS or another entity, and, if so, how to obtain the report?

Yes

(4) The funding policy, as follows: Yes

(5) Authority under which the obligations of the plan members, employer(s), and other contributing entities to contribute to the plan are established or may be amended?

Yes

(6) Required contribution rate(s) of plan members? Note: The required contribution rate(s) could be expressed as a rate (amount) per member or as a percentage of covered payroll.

Yes

(7) Required contribution rate(s) of the employer in accordance with the funding policy, in dollars or as a percentage of current-year covered payroll, and, if applicable, legal or contractual maximum contribution rates?

Yes

(a) If the plan is a single-employer or agent plan and the rate differs significantly from the ARC, how the rate is determined or that the plan is financed on a pay-as-you-go basis?

N/A

(b) If the plan is a cost-sharing plan, the required contributions in dollars and the percentage of that amount contributed for the current year and each of the two preceding years, and how the required contribution rate is determined or that the plan is financed on a pay-as-you-go basis?

Yes

b. Additionally for single-employer and agent defined benefit OPEB plans: [ GASB 45, par. 25 ( GASB Cod. Sec. P50.121 ) ]

N/A



(1) For the current year, annual OPEB cost and the dollar amount of contributions made?

N/A

(2) If the employer has a net OPEB obligation, the components of annual OPEB cost (ARC, interest on the net OPEB obligation, and adjustment to the ARC), the increase or decrease in the net OPEB obligation, and the net OPEB obligation at the end of the year?

N/A

(3) For the current year and each of the two preceding years, annual OPEB cost, percentage of annual OPEB cost contributed that year, and net OPEB obligation at the end of the year? Note: For the first two years, the required information should be presented for the transition year, and for the current and transition years, respectively.

N/A

(4) Information about the funded status of the plan as of the most recent valuation date, including the actuarial valuation date, the actuarial value of assets, the actuarial accrued liability, the total unfunded actuarial liability (or funding excess), the actuarial value of assets as a percentage of the actuarial accrued liability (funded ratio), the annual covered payroll, and the ratio of the unfunded actuarial liability (or funding excess) to annual covered payroll? Note: Employers that use the aggregate actuarial cost method should prepare this information using the entry age actuarial cost method for that purpose only.

N/A

(5) Information about actuarial methods and assumptions used in valuations on which reported information about the ARC, annual OPEB cost, and the funded status and funding progress of OPEB plans is based, including:

N/A

(a) That actuarial valuations involve estimates of the value of reported amounts and assumptions about the probability of events far into the future, and that actuarially determined amounts are subject to continual revision as actual results are compared to past expectations and new estimates are made about the future?

N/A

(b) That the required schedule of funding progress immediately following the notes to the financial statements presents multiyear trend information about whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued liability for benefits?

N/A

(c) That calculations are based on the types of benefits provided under the terms of the substantive plan at the time of each valuation and on the pattern of sharing of costs between the employer and plan members to that point?

N/A

(d) That actuarial calculations reflect a long-term perspective? N/A

(e) Identification of the actuarial methods and significant assumptions used to determine the ARC for the current year and the funding progress information, including the actuarial cost method, the method used to determine the actuarial value of assets, the assumptions used for inflation rate, investment rate, postretirement benefit increases, and other trend rates, and the amortization method and period and whether the period is open or closed?

N/A



(f) If the aggregate actuarial cost method is used, a statement that the method does not identify or separately amortize unfunded actuarial liabilities, information about the funded status and funding progress has been prepared using the entry age actuarial cost method for that purpose, and that the information presented is intended to serve as a surrogate for the funding progress of the plan?

N/A

4. If an entity uses the alternative measurement method permitted by GASB 45 , do the notes disclose that it uses that method and the source or basis of all significant assumptions or methods selected in accordance with paragraph 34 of GASB 45 in addition to all other disclosures required by GASB 45 ? [ GASB 45, pars. 33–34 ( GASB Cod. Secs. P50.130–131 ) ]

N/A

5. For participation in insured benefits OPEB plans, do the notes to the financial statements disclose: [ GASB 45, par. 28 ( GASB Cod. Sec. P50.124 ) ]

N/A

a. A brief description of the insured benefit, including the authority under which benefit provisions are established or may be amended?

N/A

b. The fact that the obligation for the payment of benefits has been effectively transferred from the employer to one or more insurance companies?

N/A

c. Whether the employer has guaranteed benefits in the event of the insurance company’s insolvency?

N/A

d. The current-year OPEB expense/expenditures and contributions or premiums paid?

N/A

6. For participation in defined contribution OPEB plans, is the following information disclosed for each plan to which the employer is required to contribute: [ GASB 45, par. 31 ( GASB Cod. Sec. P50.127 ) ]

N/A

a. Name of the plan, identification of the PERS or other entity that administers the plan, and identification of the plan as a defined contribution plan?

N/A

b. Brief description of the plan provisions and the authority under which they are established or may be amended?

N/A

c. Contribution requirements (for example, the contribution rate in dollars or as a percentage of salary) of the plan members, employer, and other contributing entities (for example, state contributions to local government plans) and the authority under which the requirements are established or may be amended?

N/A

d. The contributions actually made by plan members and the employer? N/A

Postemployment Benefits—Employer Reporting (upon implementation of GASB-75) Yes, No, N/A

Defined Benefit OPEB-Single and Agent Employers Choose an item

1. For single and agent employers, has the following been disclosed in the notes to the financial statements:

Choose an item

a. If the total amounts are not otherwise identifiable from information presented in the financial statements, the total (aggregate for all OPEBs, whether provided through single-employer, agent, or cost-sharing OPEB plans) of the employer's OPEB liabilities, OPEB assets, deferred outflows of resources and deferred inflows of resources related to OPEBs, and OPEB expense/expenditures for the period associated with net OPEB liabilities?

Choose an item



[ GASB-75, par. 47 ]

b. If the employees of a primary government and its component units are provided with OPEBs through the same single-employer or agent OPEB plans, separate identification of the amounts associated with the primary government (including its blended component units) and those associated with its discretely presented component units.

[ GASB-75, par. 49 ]

Note: This information should be disclosed for benefits provided through each single-employer or agent OPEB plan in which the employer participates. Disclosures related to more than one OPEB plan should be combined in a manner that avoids unnecessary duplication.

Choose an item

c. For the OPEB plan through which benefits are provided:

[ GASB-75, par. 50 ]

Note: The following disclosures are required for benefits provided through each single-employer or agent OPEB plan in which the employer participates. Disclosures related to more than one OPEB plan should be combined in a manner that avoids unnecessary duplication.

Choose an item

(1) The name of the OPEB plan, identification of the public employee retirement system or other entity that administers the OPEB plan, and identification of the OPEB plan as a single-employer or agent OPEB plan?

Choose an item

(2) A brief description of the benefit terms including: Choose an item

(a) The classes of employees covered? Choose an item

(b) The types of benefits? Choose an item

(c) The key elements of the OPEB formulas? Choose an item


Choose an item


Choose an item

(f) If applicable, the fact that the OPEB plan is closed to new entrants? Choose an item

(3) The number of employees covered by the benefit terms, separately identifying numbers of:

Choose an item

(a) Inactive employees (or their beneficiaries) currently receiving benefits? Choose an item

(b) Inactive employees entitled to but not yet receiving benefits? Choose an item

(c) Active employees? Choose an item

(4) A brief description of contribution requirements, including: Choose an item

(a) The basis for determining the employer's contributions to the OPEB plan (for example, statute, contract, an actuarial basis, or some other manner)?

Choose an item

(b) Identification of the authority under which contribution requirements of the employer, nonemployer contributing entities, if any, and employees are established or may be amended?

Choose an item




Choose an item

(d) If not otherwise disclosed, the amount of contributions recognized by the OPEB plan from the employer during the reporting period (measured as the total of amounts recognized as additions to the OPEB plan's fiduciary net position resulting from actual contributions and from contributions recognized by the OPEB plan as current receivables)?

Choose an item

(5) Whether the OPEB plan issues a stand-alone financial report (or the OPEB plan is included in the report of a public employee retirement system or another government) that is available to the public and, if so, how to obtain the report (for example, a link to the report on the public employee retirement system's website)?

Choose an item

d. In regard to assumptions and other inputs: Choose an item

(1) Significant assumptions and other inputs used to measure the total OPEB liability including assumptions about inflation, healthcare cost trend rates, salary changes, ad hoc postemployment benefit changes (including ad hoc COLAs):

[ GASB-75, par. 51 ]


Choose an item

(a) The fact that projections of the sharing of benefit-related costs are based on an established pattern of practice?

Choose an item

(b) The source of the mortality assumptions (for example, the published tables on which the assumptions are based or that the assumptions are based on a study of the experience of the covered group)?

Choose an item

(c) The dates of experience studies on which significant assumptions are based?

Choose an item

(d) If the alternative measurement method is used to measure the total OPEB liability, the source of or basis for all significant assumptions selected in conformity with the method?

Choose an item

(e) Measures of the net OPEB liability calculated using (1) a healthcare cost trend rate that is 1-percentage-point higher than the assumed healthcare cost trend rate and (2) a healthcare cost trend rate that is 1-percentage-point lower than the assumed healthcare cost trend rate.?

Choose an item

(2) In regard to the discount rate:

[ GASB-75, par. 53 ]


Choose an item

(a) The discount rate applied in the measurement of the total OPEB liability and the change in the discount rate since the prior measurement date, if any?

Choose an item



(b) Assumptions made about projected cash flows into and out of the OPEB plan, such as contributions from the employer, nonemployer contributing entities, and employees?

Choose an item

(c) The long-term expected rate of return on OPEB plan investments and a brief description of how it was determined, including significant methods and assumptions used for that?

Choose an item

(d) If the discount rate incorporates a municipal bond rate, the municipal bond rate used and the source of that rate?

Choose an item

(e) The periods of projected benefit payments to which the long-term expected rate of return and, if used, the municipal bond rate applied to determine the discount rate?

Choose an item

(f) The assumed asset allocation of the OPEB plan's portfolio, the long-term expected real rate of return for each major asset class, and whether the expected rates of return are presented as arithmetic or geometric means, if not otherwise disclosed?

Choose an item

(g) Measures of the net OPEB liability calculated using (1) a discount rate that is 1-percentage-point higher than that required by GASB-75 and (2) a discount rate that is 1-percentage-point lower than that required by GASB-75 ?

Choose an item

(3) If (a) a financial report that includes disclosure about the elements of the OPEB plan's basic financial statements is available on the Internet, either as a stand-alone financial report or included as a fiduciary fund in the financial report of another government, and (b) information is provided about how to obtain the report:

[ GASB-75, par. 54 ]


Choose an item

(a) Reference made to the other report for these disclosures? Choose an item

(b) The fact that the OPEB plan's fiduciary net position has been determined on the same basis used by the OPEB plan?

Choose an item

(c) A brief description of the OPEB plan's basis of accounting, including the policies with respect to benefit payments (including refunds of employee contributions) and the valuation of OPEB plan investments?

Choose an item

(d) If significant changes have occurred that indicate that the disclosures included in the OPEB plan's financial report generally do not reflect the facts and circumstances at the measurement date, information about the substance and magnitude of the changes?

Choose an item

(4) A schedule of changes in net OPEB liability that includes:

[ GASB-75, par. 55 ]

Note: The schedule should separately include the information indicated in the items below. If the alternative measurement method is used to measure the total OPEB liability, the information related to differences between expected and actual experience in the measurement of the total OPEB

Choose an item



liability and changes of assumptions and other inputs may be combined. If the employer has a special funding situation, the information in items (a) through (c) should be presented for the collective net OPEB liability.


(a) The beginning balances of the total OPEB liability, the OPEB plan's fiduciary net position, and the net OPEB liability?

Choose an item

(b) The effects during the period of the following items, if applicable, on the balances of the total OPEB liability, the OPEB plan's fiduciary net position and the net OPEB liability:

Choose an item

i. Service cost? Choose an item

ii. Interest on the total OPEB liability? Choose an item

iii. Changes of benefit terms? Choose an item

iv. Differences between expected and actual experience in the measurement of the total OPEB liability?

Choose an item

v. Changes of assumptions or other inputs? Choose an item

vi. Contributions from the employer? Choose an item

vii. Contributions from nonemployer contributing entities? Choose an item

viii. Contributions from employees? Choose an item

ix. OPEB plan net investment income? Choose an item

x. Benefit payments, including refunds of employee contributions? Choose an item

xi. OPEB plan administrative expense? Choose an item

xii. Other changes, separately identified if individually significant? Choose an item

(c) The ending balances of the total OPEB liability, the OPEB plan's fiduciary net position, and the net OPEB liability?

Choose an item

(d) If the employer has a special funding situation: Choose an item

i. The nonemployer contributing entities' total proportionate share of the collective net OPEB liability?

Choose an item

ii. The employer's proportionate share of the collective net OPEB liability?

Choose an item

(5) Additionally, the following information, if applicable:

[ GASB-75, par. 56 ]


Choose an item

(a) The measurement date of the net OPEB liability, the date of the actuarial valuation on which the total OPEB liability is based, and, if applicable, the fact that update procedures were used to roll forward the total OPEB

Choose an item



liability to the measurement date?

(b) If the employer has a special funding situation, the employer's proportion (percentage) of the collective net OPEB liability, the basis on which its proportion was determined, and the change in its proportion since the prior measurement date?

Choose an item

(c) A brief description of changes of assumptions or other inputs that affected measurement of the total OPEB liability since the prior measurement date?

Choose an item

(d) A brief description of changes of benefit terms that affected measurement of the total OPEB liability since the prior measurement date?

Choose an item

(e) The amount of benefit payments in the measurement period attributable to the purchase of allocated insurance contracts, a brief description of the benefits for which allocated insurance contracts were purchased in the measurement period, and the fact that the obligation for the payment of benefits covered by allocated insurance contracts has been transferred from the employer to one or more insurance companies?

Choose an item

(f) A brief description of the nature of changes between the measurement date of the net OPEB liability and the employer's reporting date that are expected to have a significant effect on the net OPEB liability, and the amount of the expected resultant change in the net OPEB liability, if known?

Choose an item

(g) The amount of OPEB expense recognized by the employer in the reporting period?

Choose an item

(h) The employer's balances of deferred outflows of resources and deferred inflows of resources related to OPEBs, classified as follows, if applicable:

Choose an item

i. Differences between expected and actual experience in the measurement of the total OPEB liability?

Choose an item

ii. Changes of assumptions or other inputs? Choose an item

iii. Net difference between projected and actual earnings on OPEB plan investments?

Choose an item

iv. If the employer has a special funding situation, changes in the employer proportion ( GASB-68, par. 86 ) and differences between the employer's contributions (other than those to separately finance specific liabilities of the individual employer to the OPEB plan) and the employer's proportionate share of contributions ( GASB-68, par. 87 )?

Note: In a single-employer or agent OPEB plan, an example of a separately financed liability to the OPEB plan is a long-term payable recognized for contractually deferred contributions with a separate payment schedule.

Choose an item

v. The employer's contributions to the OPEB plan subsequent to the measurement date of the net OPEB liability?

Choose an item

(i) A schedule presenting the following: Choose an item



i. For each of the subsequent five years, and in the aggregate thereafter: the net amount of the employer's balances of deferred outflows of resources and deferred inflows of resources that will be recognized in the employer's OPEB expense?

Choose an item

ii. If the employer does not have a special funding situation, the amount of the employer's balance of deferred outflows of resources in item that will be recognized as a reduction of the net OPEB liability?

Choose an item

iii. If the employer has a special funding situation, the amount of the employer's balance of deferred outflows of resources in item that will be included as a reduction of the collective net OPEB liability?

Choose an item

(j) The amount of revenue recognized for the support provided by nonemployer contributing entities, if any?

Choose an item

Defined Benefit OPEB-Cost-Sharing Employers Choose an item

2. For all cost-sharing employers, has the following information been disclosed in the notes to the financial statements:

Note: If similar information is required by GASB-75 and GASB-74 , an employer that includes the OPEB plan in its financial reporting entity as a OPEB trust fund or as a fiduciary component unit should present information in a manner that avoids unnecessary duplication

Choose an item

a. If the total amounts are not otherwise identifiable from information presented in the financial statements, total (aggregate for all OPEBs, whether provided through cost-sharing, single-employer, or agent OPEB plans) of the employer's OPEB liabilities, OPEB assets, deferred outflows of resources and deferred inflows of resources related to OPEBs, and OPEB expense/expenditures for the period associated with net OPEB liabilities?

[ GASB-75, par. 89 ]

Choose an item

b. For the OPEB plan through which benefits are provided:

[ GASB-75, pars. 90-91 ]

Note: The following disclosures are required for benefits provided through each cost-sharing OPEB plan in which the employer participates. Disclosures related to more than one OPEB plan should be combined in a manner that avoids unnecessary duplication.

Choose an item

(1) The name of the plan, identification of the public employee retirement system or other entity that administers the OPEB plan, and identification of the OPEB plan as a cost-sharing OPEB plan?

Choose an item

(2) A brief description of the benefit terms including: Choose an item





Choose an item

(e) The authority under which benefit terms are established or may be Choose an item



amended?


(3) A brief description of contribution requirements, including: Choose an item

(a) The basis for determining the employer's contributions to the OPEB plan (for example, statute, contract, an actuarial basis, or some other manner)?

Choose an item

(b) Identification of the authority under which contribution requirements of employers, nonemployer contributing entities, if any, and employees are established or may be amended?

Choose an item

(c) Legal or contractual maximum contribution rates (if applicable)? Choose an item

(d) The contribution rates (in dollars or as a percentage of covered payroll) of employers, nonemployer contributing entities, if any, and employees for the reporting period as well as the amount of contributions recognized by the OPEB plan from the employer during the reporting period, excluding amounts resulting from contributions recognized by the OPEB plan as noncurrent receivables, if not otherwise disclosed?

Choose an item

(e) Whether the OPEB plan issues a stand-alone financial report (or the OPEB plan is included in the report of a public employee retirement system or another government) that is available to the public and, if so, how to obtain the report (for example, a link to the report on the public employee retirement system's website)?

Choose an item

c. In regard to information about the employer's proportionate share of the collective net OPEB liability:


Choose an item

(1) For assumptions and other inputs [ GASB-75, par. 92 ] Choose an item

(a) Significant assumptions and other inputs used to measure the total OPEB liability including assumptions about inflation, healthcare cost trend rates, salary changes, and ad hoc postemployment benefit changes (including ad hoc COLAs)?

Choose an item

(b) If different rates are assumed for different periods, information about what rates are applied to the different periods of the measurement?

Choose an item

(2) Additional assumptions and other inputs as applicable [ GASB-75, par. 93 ]:

Choose an item

(a) The fact that projections of the sharing of benefit-related costs are based on an established pattern of practice?

Choose an item


Choose an item


Choose an item

(d) If the alternative measurement method is used to measure the total Choose an item



OPEB liability, the source of or basis for all significant assumptions selected?

(e) Measures of the employer's proportionate share of the collective net OPEB liability calculated using (1) a healthcare cost trend rate that is 1-percentage-point higher than the assumed healthcare cost trend rate and (2) a health-care cost trend rate that is 1-percentage-point lower than the assumed healthcare cost trend rate?

Choose an item

(f) In regard to the discount rate: [ GASB-75, par. 94 ] Choose an item

i. The discount rate applied in the measurement of the total OPEB liability and the change in the discount rate since the prior measurement date, if any?

Choose an item

ii. Assumptions made about projected cash flows into and out of the OPEB plan, such as contributions from employers, nonemployer contributing entities, and employees?

Choose an item

iii. The long-term expected rate of return on OPEB plan investments and a brief description of how it was determined, including significant methods and assumptions used for that purpose?

Choose an item

iv. If the discount rate incorporates a municipal bond rate, the municipal bond rate used and the source of that rate?

Choose an item

v. The periods of projected benefit payments to which the long-term expected rate of return and, if used, the municipal bond rate applied to determine the discount rate?

Choose an item

vi. If not otherwise disclosed, the assumed asset allocation of the OPEB plan's portfolio, the long-term expected real rate of return for each major asset class, and whether the expected rates of return are presented as arithmetic or geometric means?

Choose an item

vii. Measures of the employer's proportionate share of the collective net OPEB liability calculated using (1) a discount rate that is 1-percentage-point higher than that required by GASB-75 and (2) a discount rate that is 1-percentage-point lower than that required by GASB-75 ?

Choose an item

(3) If a financial report that includes disclosure about the elements of the OPEB plan's basic financial statements is available on the Internet, either as a stand-alone financial report or included as a fiduciary fund in the financial report of another government and information is provided about how to obtain the report:

[ GASB-75, par. 95 ]


Choose an item

(a) Reference made to the other report for these disclosures? Choose an item


Choose an item

(c) A brief description of the OPEB plan's basis of accounting, including Choose an item



the policies with respect to benefit payments (including refunds of employee contributions) and the valuation of OPEB pan investments?


Choose an item

d. Additionally, the following information, if applicable:

[ GASB-75, par. 96 ]


Choose an item

(1) The employer's proportionate share (amount) of the collective net OPEB liability and if an employer has a special funding situation:

Choose an item

(a) The portion of the nonemployer contributing entities' total proportionate share (amount) of the collective net OPEB liability that is associated with the employer?

Choose an item

(b) The total of the employer's proportionate share (amount) of the collective net OPEB liability and the portion of the nonemployer contributing entities' total proportionate share of the collective net OPEB liability that is associated with the employer?

Choose an item

(2) The employer's proportion (percentage) of the collective net OPEB liability, the basis on which its proportion was determined, and the change in its proportion since the prior measurement date?

Choose an item

(3) The measurement date of the collective net OPEB liability, the date of the actuarial valuation on which the total OPEB liability is based, and, if applicable, the fact that update procedures were used to roll forward the total OPEB liability to the measurement date?

Choose an item

(4) A brief description of changes of assumptions or other inputs that affected measurement of the total OPEB liability since the prior measurement date?

Choose an item

(5) A brief description of changes of benefit terms that affected measurement of the total OPEB liability since the prior measurement date?

Choose an item

(6) A brief description of the nature of changes between the measurement date of the collective net OPEB liability and the employer's reporting date that are expected to have a significant effect on the employer's proportionate share of the collective net OPEB liability, and the amount of the expected resultant change in the employer's proportionate share of the collective net OPEB liability, if known?

Choose an item

(7) The amount of OPEB expense recognized by the employer in the reporting period?

Choose an item

(8) The employer's balances of deferred outflows of resources and deferred inflows of resources related to OPEBs, classified as follows, if applicable:

Choose an item

(a) Differences between expected and actual experience in the measurement of the total OPEB liability?

Choose an item



(b) Changes of assumptions or other inputs? Choose an item

(c) Net difference between projected and actual earnings on OPEB plan investments?

Choose an item

(d) Changes in the employer's proportion and differences between the employer's contributions (other than those to separately finance specific liabilities of the individual employer to the OPEB plan) and the employer's proportionate share of contributions?

Choose an item

(e) The employer's contributions to the OPEB plan subsequent to the measurement date of the collective net OPEB liability?

Choose an item

(9) A schedule presenting the following: Choose an item

(a) For each of the subsequent five years and in the aggregate thereafter, the net amount of the employer's balances of deferred outflows of resources and deferred inflows of resources that will be recognized in the employer's OPEB expense?

Choose an item

(b) The amount of the employer's balance of deferred outflows of resources that will be included as a reduction of the collective net OPEB liability?

Choose an item

(10) The amount of revenue recognized for the support provided by nonemployer contributing entities, if any?

Choose an item

Defined Benefit OPEB Employers-Special Funding Situations: Governmental Nonemployer Contributing Entities

Choose an item

3. For governmental nonemployer contributing entities that recognize a substantial proportion of the collective net OPEB liability, is the following information disclosed in the notes to the financial statements:

Note: Disclosures related to more than one OPEB plan should be combined in a manner that avoids unnecessary duplication.

Choose an item

a. The following for the OPEB plan through which benefits are provided:

[ GASB-75, par. 128 ]

Choose an item

(1) The name of the OPEB plan, identification of the public employee retirement system or other entity that administers the OPEB plan, and identification of the OPEB plan as a single-employer, agent, or cost-sharing OPEB plan?

Choose an item

(2) A brief description of benefit terms including: Choose an item





Choose an item


Choose an item




(3) A brief description of contribution requirements including: Choose an item

(a) The basis for determining the governmental nonemployer contributing entity's contributions to the OPEB plan (for example, statute, contract, an actuarial basis, or some other manner)?

Choose an item

(b) Identification of the authority under which contribution requirements of employers, nonemployer contributing entities, and employees are established or may be amended?

Choose an item


Choose an item

(d) If not otherwise disclosed, the amount of contributions recognized by the OPEB plan from the governmental nonemployer contributing entity during the reporting period (measured as the total of amounts recognized as additions to the OPEB plan's fiduciary net position resulting from actual contributions and from contributions recognized by the OPEB plan as current receivables)?

Choose an item

(4) Whether the OPEB plan issues a stand-alone financial report (or the OPEB plan is included in the report of a public employee retirement system or another government) that is available to the public and, if so, how to obtain the report (for example, a link to the report on the public employee retirement system's website)?

Choose an item

b. The following information about the governmental nonemployer contributing entity's proportionate share of the collective net OPEB liability:

Choose an item

(1) For assumptions and other inputs: Choose an item

(a) Significant assumptions and other inputs used to measure the total OPEB liability, including assumptions about inflation, salary changes, and ad hoc postemployment benefit changes (including ad hoc COLAs)?

[ GASB-75, par. 129 ]

Choose an item

(2) In addition, as applicable [ GASB-75, par. 130 ]: Choose an item

(a) The fact that projections are based on an established pattern of practice? Choose an item


Choose an item


Choose an item

(d) If the alternative measurement method is used to measure the total OPEB liability, the source of or basis for all significant assumptions?

Choose an item

(e) Measures of the governmental nonemployer contributing entity's proportionate share of the collective net OPEB liability calculated using (1) a healthcare cost trend rate that is 1-percentage-point higher than the assumed health-care cost trend rate and (2) a healthcare cost trend rate that is 1-percentage-point lower than the assumed healthcare cost trend rate?

Choose an item

(3) The following information about the discount rate: Choose an item



[ GASB-75, par. 131 ]

(a) The discount rate applied in the measurement of the total OPEB liability and the change in the discount rate since the prior measurement date, if any?

Choose an item

(b) Assumptions made about projected cash flows into and out of the OPEB plan, such as contributions from employers, nonemployer contributing entities, and employees?

Choose an item

(c) The long-term expected rate of return on OPEB plan investments and a brief description of how it was determined, including significant methods and assumptions used for that purpose?

Choose an item

(d) If the discount rate incorporates a municipal bond rate, the municipal bond rate used and the source of that rate?

Choose an item

(e) The periods of projected benefit payments to which the long-term expected rate of return and, if used, the municipal bond rate are applied in determining the discount rate?

Choose an item

(f) The assumed asset allocation of the OPEB plan's portfolio, the long-term expected real rate of return for each major asset class, and whether the expected rates of return are presented as arithmetic or geometric means, if not otherwise disclosed?

Choose an item

(g) Measures of the governmental nonemployer contributing entity's proportionate share of the collective net OPEB liability calculated using (1) a discount rate that is 1-percentage-point higher than that required, as applicable, and (2) a discount rate that is 1-percentage-point lower than that required, as applicable?

Choose an item

(4) If (a) a financial report that includes disclosure about the elements of the OPEB plan's basic financial statements is available on the Internet, either as a stand-alone financial report or included as a fiduciary fund in the financial report of another government, and (b) information is provided about how to obtain the report:

[ GASB-75, par. 132 ]

Choose an item

(a) Reference to the other report for these disclosures? Choose an item


Choose an item

(c) A brief description of the OPEB plan's basis of accounting, including the policies with respect to benefit payments (including refunds of employee contributions) and the valuation of OPEB plan investments?

Choose an item


Choose an item

(5) Additionally, the following information, if applicable:

[ GASB-75, par. 133 ]

Choose an item

(a) The governmental nonemployer contributing entity's proportionate share (amount) of the collective net OPEB liability, its proportion

Choose an item



(percentage) of the collective net OPEB liability, the basis on which its proportion was determined, and the change in its proportion since the prior measurement date?

(b) The measurement date of the collective net OPEB liability, the date of the actuarial valuation on which the total OPEB liability is based, and, if applicable, the fact that update procedures were used to roll forward the total OPEB liability to the measurement date?

Choose an item

(c) A brief description of changes of assumptions or other inputs that affected measurement of the total OPEB liability since the prior measurement date?

Choose an item

(d) A brief description of changes of benefit terms that affected measurement of the total OPEB liability since the prior measurement date?

Choose an item

(e) A brief description of the nature of changes between the measurement date of the collective net OPEB liability and the governmental nonemployer contributing entity's reporting date that are expected to have a significant effect on the governmental nonemployer contributing entity's proportionate share of the collective net OPEB liability?

Choose an item

(f) The amount of expense recognized by the governmental nonemployer contributing entity in the reporting period as a result of the special funding situation?

Choose an item

(g) The governmental nonemployer contributing entity's balances of deferred outflows of resources and deferred inflows of resources as a result of the special funding situation, classified as follows, if applicable:

Choose an item

i. Differences between expected and actual experience in the measurement of the total OPEB liability?

Choose an item

ii. Changes of assumptions or other inputs? Choose an item

iii. Net difference between projected and actual earnings on OPEB plan investments?

Choose an item

iv. Changes in the governmental nonemployer contributing entity's proportion and differences between the governmental nonemployer contributing entity's contributions (other than those to separately finance specific liabilities of the individual nonemployer contributing entity to the OPEB plan) and the governmental nonemployer contributing entity's proportionate share of contributions?

Choose an item

v. The governmental nonemployer contributing entity's contributions to the OPEB plan subsequent to the measurement date of the collective net OPEB liability?

Choose an item

(h) A schedule presenting the following: Choose an item

i. For each of the subsequent five years and in the aggregate thereafter, the net amount of the governmental nonemployer contributing entity's balances of deferred outflows of resources and deferred inflows of resources ithat will be recognized in the

Choose an item



governmental nonemployer contributing entity's expense?

ii. The amount of the governmental nonemployer contributing entity's balance of deferred outflows of resources that will be included as a reduction of the collective net OPEB liability?

Choose an item

4. For governmental nonemployer contributing entities that recognize a less substantial proportion of the collective net OPEB liability, is the following information disclosed in the notes to the financial statements:

[ GASB-75, par. 136 ]

Note: The information identified in this paragraph should be disclosed for benefits provided through each defined benefit OPEB plan for which the governmental nonemployer contributing entity recognizes a less-than-substantial proportion of the collective net OPEB liability. If the governmental nonemployer contributing entity recognizes more than one such liability, information may be presented in the aggregate for all such liabilities.

Choose an item

a. The name of the OPEB plan through which benefits are provided, identification of the entity that administers the OPEB plan, and identification of the OPEB plan as a single-employer, agent, or cost-sharing OPEB plan?

Choose an item

b. A brief description of contribution requirements, including (1) the basis for determining the governmental nonemployer contributing entity's contributions to the OPEB plan (for example, statute, contract, an actuarial basis, or some other manner); (2) identification of the authority under which the governmental nonemployer contributing entity's contribution requirements are established or may be amended; (3) legal or contractual maximum contribution rates for the governmental nonemployer contributing entity, if applicable; and (4) the amount of contributions recognized by the OPEB plan from the governmental nonemployer contributing entity during the reporting period, excluding amounts resulting from contributions recognized by the OPEB plan as noncurrent receivables?

Choose an item

c. The governmental nonemployer contributing entity's proportionate share (amount) of the collective net OPEB liability; its proportion (percentage) of the collective net OPEB liability; the basis on which its proportion was determined; and the change, if any, in its proportion since the prior measurement date?

Choose an item

d. The amount of expense recognized by the governmental nonemployer contributing entity in the reporting period as a result of the special funding situation, and its balances of deferred outflows of resources and deferred inflows of resources as a result of the special funding situation?

Choose an item

5. In circumstances when a nonemployer entity's legal obligations for contributions directly to an OPEB plan does not meet the definition of a special funding situation, does the nonemployer entity disclose theamount of payables to a defined benefit OPEB plan outstanding at the end of the reporting period, significant terms related to the payables, and a description of what gave rise to the payable (for example, legally required contributions to the OPEB plan, a contractual arrangement for contributions to a cost-sharing OPEB plan related to past service cost upon entrance into the arrangement, or a contractual arrangement for contributions to the OPEB plan related to a change of benefit terms enacted by an individual cost-sharing employer)? [ GASB-75, par. 142 ]

Choose an item

OPEBs - Employer Reporting - Where OPEB Is NOT Administered Through a Trust Choose an item



or Equivalent Arrangement

6. Does the employer provide the following descriptive information about the OPEB plan through which benefits are provided? [ GASB-75, par. 165 ]:

Choose an item

a. The name of the OPEB plan, identification of the entity that administers the OPEB plan, and identification of the OPEB plan as a single-employer or multiple-employer defined benefit plan?

Choose an item

b. A brief description of the benefit terms, including (1) the classes of employees covered; (2) the types of benefits; (3) the key elements of the OPEB formulas; (4) the terms or policies, if any, with respect to automatic post-employment benefit changes, including automatic COLAs, and ad hoc post-employment benefit changes, including ad hoc COLAs, and the sharing of benefit-related costs with inactive employees; and (5) the authority under which benefit terms are established or may be amended. If the OPEB plan is closed to new entrants, that fact should be disclosed?

Choose an item

c. The number of employees covered by the benefit terms, separately identifying numbers of the following:

Choose an item

(1) Inactive employees currently receiving benefit payments? Choose an item

(2) Inactive employees entitled to but not yet receiving benefit payments? Choose an item

(3) Active employees? Choose an item

d. The fact that there are no assets accumulated in a trust that meets the criteria. If OPEB is provided through an OPEB plan that is administered through a trust and that trust does not meet the criteria, each criterion that the trust does not meet should be disclosed?

Choose an item

e. Identification of the authority under which requirements for the employer and nonemployer contributing entities, if any, to pay OPEB as the benefits come due are established or may be amended? (Also, the amount paid by the employer for OPEB as the benefits came due during the reporting period, if not otherwise disclosed.)

Choose an item

7. Does the employer that participates in an OPEB plan that does not utilize a trust or equivalent arrangement, disclose significant assumptions and other inputs used to measure the total OPEB liability, including assumptions about inflation, healthcare cost trend rates, salary changes, ad hoc postemployment benefit changes (including ad hoc COLAs), and the sharing of benefit-related costs with inactive employees, as applicable?

[ GASB-75, par. 166 ]

Choose an item

a. With regard to the sharing of benefit-related costs, if projections are based on an established pattern of practice, are they disclosed?

Choose an item

b. With regard to mortality assumptions, the source of the assumptions (for example, the published tables on which the assumptions are based or that the assumptions are based on a study of the experience of the covered group)?

Choose an item

c. The dates of experience studies on which significant assumptions are based? Choose an item

d. For all significant assumptions, if different rates are assumed for different periods, is information disclosed about what rates are applied to the different periods of the measurement?

Choose an item



e. With regard to the discount rate, the rate applied in the measurement and the source of that rate?

Choose an item

f. In addition, if the alternative measurement method is used to measure the total OPEB liability, the source of or basis for all significant assumptions selected in conformity?

Choose an item

8. Is there disclosure of measures of the total OPEB liability (or, if an employer has a special funding situation, the employer's proportionate share of the total OPEB liability) calculated using the following sensitivity to each of the following rate?

[ GASB-75, par. 167 ]

Choose an item

a. If applicable, a healthcare cost trend rate that is 1-percentage-point higher than the assumed healthcare cost trend rate, and a healthcare cost trend rate that is 1-percentage-point lower than the assumed healthcare cost trend rate?

Choose an item

b. A discount rate that is 1-percentage-point higher than that required and a discount rate that is 1-percentage-point lower than that required?

Choose an item

9. For the current reporting period, does the employer provide a schedule of changes in the total OPEB liability including the following:

[ GASB-75, par. 168 ]

Choose an item

a. The beginning balance of the total OPEB liability? Choose an item

b. The effects during the period of the following items, if applicable, on the total OPEB liability:

Choose an item

(1) Service cost? Choose an item

(2) Interest on the total OPEB liability? Choose an item

(3) Changes of benefit terms? Choose an item

(4) Differences between expected and actual experience in the measurement of the total OPEB liability?

Choose an item


(6) Benefit payments? Choose an item

(7) Other changes, separately identified if individually significant? Choose an item

c. The ending balance of the total OPEB liability? Choose an item

d. If the employer has a special funding situation: Choose an item

(1) The nonemployer contributing entities' total proportionate share of the total OPEB liability?

Choose an item

(2) The employer's proportionate share of the total OPEB liability? Choose an item

10. The following should be disclosed if applicable:

[ GASB-75, par. 169 ]

Choose an item

a. The measurement date of the total OPEB liability; the date of the actuarial valuation or alternative measurement method calculation on which the total OPEB liability is based; and, if applicable, the fact that update procedures were used to roll forward the total OPEB liability to the measurement date. If the alternative measurement method permitted by this Statement is used to

Choose an item



measure the total OPEB liability, the fact that this alternative method was used in place of an actuarial valuation also should be disclosed.

b. If the employer has a special funding situation, the employer's proportion (percentage) of the total OPEB liability, the basis on which its proportion was determined, and the change in its proportion since the prior measurement date.

Choose an item

c. A brief description of changes of assumptions or other inputs that affected measurement of the total OPEB liability since the prior measurement date.

Choose an item

d. A brief description of changes of benefit terms that affected measurement of the total OPEB liability since the prior measurement date.

Choose an item

e. The amount of benefit payments in the measurement period attributable to the purchase of allocated insurance contracts, a brief description of the benefits for which allocated insurance contracts were purchased in the measurement period, and the fact that the obligation for the payment of benefits covered by allocated insurance contracts has been transferred from the employer to one or more insurance companies.

Choose an item

f. A brief description of the nature of changes between the measurement date of the total OPEB liability and the employer's reporting date that are expected to have a significant effect on the total OPEB liability (or, if an employer has a special funding situation, on the employer's proportionate share of the total OPEB liability) and the amount of the expected resultant change in the total OPEB liability (or, if an employer has a special funding situation, on the employer's proportionate share of the total OPEB liability), if known.

Choose an item

g. The amount of OPEB expense recognized by the employer in the reporting period.

Choose an item

h. The employer's balances of deferred outflows of resources and deferred inflows of resources related to OPEB, classified as follows, if applicable:

Choose an item

(1) Differences between expected and actual experience in the measurement of the total OPEB liability

Choose an item

(2) Changes of assumptions or other inputs Choose an item

(3) If the employer has a special funding situation, changes in the employer's proportion and differences between (a) the amounts paid by the employer for OPEB as the benefits came due and (b) the employer's proportionate share of the total of certain amounts paid by the employer and nonemployer contributing entities for OPEB as the benefits came due.

Choose an item

(4) Amounts associated with transactions subsequent to the measurement date of the total OPEB liability.

Choose an item

(a) A schedule presenting the following: Choose an item

i. For each of the subsequent five years, and in the aggregate thereafter, the net amount of the employer's balances of deferred outflows of resources and deferred inflows of resources that will be recognized in the employer's OPEB expense

Choose an item

ii. If the employer does not have a special funding situation, the amount of the employer's balance of deferred outflows of resources that will be recognized as a reduction of the total OPEB liability

Choose an item



iii. If the employer has a special funding situation, the amount of the employer's balance of deferred outflows of that will be included as a reduction of the total OPEB liability.

Choose an item

(b) The amount of revenue recognized for the support provided by nonemployer contributing entities, if any.

Choose an item

OPEB in Stand-Alone Financial Statements of Primary Governments and Component Units That Provide OPEB through the Same Defined Benefit OPEB Plan Note Disclosure

Choose an item

11. Does the employer disclose the following about the OPEB Plan through which benefits are provided?

[ GASB-75, par. 187 ]

Choose an item

a. The name of the OPEB plan, identification of the entity that administers the OPEB plan, and identification of the OPEB plan as a single-employer or multiple-employer defined benefit OPEB plan?

Choose an item

b. A brief description of the benefit terms, including (1) the classes of employees covered; (2) the types of benefits; (3) the key elements of the OPEB formulas; (4) the terms or policies, if any, with respect to automatic post-employment benefit changes, including automatic COLAs, ad hoc post-employment benefit changes, including ad hoc COLAs, and the sharing of benefit-related costs with inactive employees; and (5) the authority under which benefit terms are established or may be amended? If the OPEB plan is closed to new entrants, that fact should be disclosed.

Choose an item

c. The fact that there are no assets accumulated in a trust that meets the criteria. If OPEB is provided through an OPEB plan that is administered through a trust and that trust does not meet the criteria, each criterion that the trust does not meet should be disclosed?

Choose an item

d. Identification of the authority under which requirements for the government and nonemployer contributing entities to pay OPEB as the benefits come due are established or may be amended. Also, the amount paid by the governmental nonemployer contributing entity for OPEB as the benefits came due during the reporting period, if not otherwise disclosed?

Choose an item

12. Does the employer disclose the following additional information, as applicable?

[ GASB-75, par. 188 ]

Choose an item

a. Significant assumptions and other inputs used to measure the collective total OPEB liability, including assumptions about:

Choose an item

(1) Inflation? Choose an item

(2) Healthcare cost trend rates? Choose an item

(3) Salary changes? Choose an item

(4) Ad hoc postemployment benefit changes (including ad hoc COLAs)? Choose an item

(5) The sharing of benefit-related costs with inactive employees? Choose an item

(6) With regard to the sharing of benefit-related costs, if projections are based on an established pattern of practice, that fact should be disclosed?

Choose an item

(7) With regard to mortality assumptions, the source of the assumptions (for Choose an item



example, the published tables on which the assumption is based or that the assumptions are based on a study of the experience of the covered group) should be disclosed?

(8) The dates of experience studies on which significant assumptions are based also should be disclosed?

Choose an item

(9) For all significant assumptions, if different rates are assumed for different periods, information should be disclosed about what rates are applied to the different periods of the measurement?

Choose an item

(10) With regard to the discount rate, the rate applied in the measurement and the source of that rate should be disclosed. In addition, if the alternative measurement method is used to measure the collective total OPEB liability, the source of or basis for all significant assumptions selected?

Choose an item

13. Are measures of the government's proportionate share of the collective total OPEB liability calculated using the following rates disclosed?

[ GASB-75, par. 189 ]

Choose an item

a. If applicable, a healthcare cost trend rate that is 1-percentage-point higher than the assumed healthcare cost trend rate and a healthcare cost trend rate that is 1-percentage-point lower than the assumed healthcare cost trend rate?

Choose an item


Choose an item

14. Is the following additional information disclosed as applicable?

[ GASB-75, par. 190 ]

Choose an item

a. The government's proportionate share (amount) of the collective total OPEB liability, and, if the government has a special funding situation, (1) the portion of the nonemployer contributing entities' total proportionate share (amount) of the collective total OPEB liability that is associated with the government and (2) the total of the government's proportionate share (amount) of the collective total OPEB liability and the portion of the nonemployer contributing entities' total proportionate share of the collective total OPEB liability that is associated with the government?

Choose an item

b. The government's proportion (percentage) of the collective total OPEB liability, the basis on which its proportion was determined, and the change in its proportion since the prior measurement date?

Choose an item

c. The measurement date of the collective total OPEB liability; the date of the actuarial valuation or alternative measurement method calculation on which the collective total OPEB liability is based; and, if applicable, the fact that update procedures were used to roll forward the collective total OPEB liability to the measurement date? If the alternative measurement method is used to measure the collective total OPEB liability, the fact that this alternative method was used in place of an actuarial valuation also should be disclosed.

Choose an item

d. A brief description of changes of assumptions or other inputs that affected measurement of the collective total OPEB liability since the prior measurement date?

Choose an item

e. A brief description of changes of benefit terms that affected measurement of the collective total OPEB liability since the prior measurement date?

Choose an item



f. A brief description of the nature of changes between the measurement date of the collective total OPEB liability and the government's reporting date that are expected to have a significant effect on the government's proportionate share of the collective total OPEB liability, and the amount of the expected resultant change in the government's proportionate share of the collective total OPEB liability, if known?

Choose an item

g. The amount of expense recognized by the government in the reporting period? Choose an item

h. The government's balances of deferred outflows of resources and deferred inflows of resources related to OPEB, classified as follows, if applicable:

Choose an item

(1) Differences between expected and actual experience in the measurement of the collective total OPEB liability?

Choose an item


(3) Changes in the government's proportion and differences between (a) the amounts paid by the government for OPEB as the benefits came due and (b) the government's proportionate share of the total of certain payments by all entities that make benefit payments?

Choose an item

(4) Amounts associated with transactions subsequent to the measurement date of the collective total OPEB liability?

Choose an item



Choose an item

(2) The amount of the government's balance of deferred outflows of resources that will be included as a reduction of the collective total OPEB liability?

Choose an item


Choose an item

For Governmental Nonemployer Contributing Entities That Recognize a Substantial Portion of the Collective Total OPEB Liability

Choose an item

15. In such situations, do the notes provide the following information about the OPEB plan through which benefits are provided?

[ GASB-75, par. 214 ]

Choose an item

a. The name of the OPEB plan, identification of the entity that administers the OPEB plan, and identification of the OPEB plan as a single-employer or multiple-employer defined benefit OPEB plan?

Choose an item

b. A brief description of the benefit terms, including (1) the classes of employees covered; (2) the types of benefits; (3) the key elements of the OPEB formulas; (4) the terms or policies, if any, with respect to automatic post-employment benefit changes, including automatic COLAs, ad hoc post-employment benefit changes, including ad hoc COLAs, and the sharing of benefit-related costs with inactive employees; and (5) the authority under which benefit terms are established or may be amended. If the OPEB plan is closed to new entrants, that fact should be disclosed?

Choose an item

c. The fact that there are no assets accumulated in a trust that meets the criteria? Choose an item



If OPEB is provided through an OPEB plan that is administered through a trust and that trust does not meet the criteria, each criterion that the trust does not meet should be disclosed.

d. Identification of the authority under which requirements for the employer and nonemployer contributing entities to pay OPEB as the benefits come due are established or may be amended? Also, the amount paid by the governmental nonemployer contributing entity for OPEB as the benefits came due during the reporting period, if not otherwise disclosed.

Choose an item

16. Does the employer disclose the following additional information, as applicable?

[ GASB-75, par. 215 ]

Choose an item

a. Significant assumptions and other inputs used to measure the collective total OPEB liability, including assumptions about:

Choose an item





(5) The sharing of benefit-related costs with inactive employees? Choose an item

(a) With regard to the sharing of benefit-related costs, if projections are based on an established pattern of practice, that fact should be disclosed.

Choose an item

(6) With regard to mortality assumptions, the source of the assumptions (for example, the published tables on which the assumption is based or that the assumptions are based on a study of the experience of the covered group) should be disclosed.

Choose an item

(7) The dates of experience studies on which significant assumptions are based also should be disclosed.

Choose an item

(8) For all significant assumptions, if different rates are assumed for different periods, information should be disclosed about what rates are applied to the different periods of the measurement.

Choose an item

(9) With regard to the discount rate, the rate applied in the measurement and the source of that rate should be disclosed. In addition, if the alternative measurement method is used to measure the collective total OPEB liability, the source of or basis for all significant assumptions selected.

Choose an item

17. Are measures of the government's proportionate share of the collective total OPEB liability calculated using the following rates disclosed?

[ GASB-75, par. 216 ]

Choose an item

a. If applicable, a healthcare cost trend rate that is 1-percentage-point higher than the assumed healthcare cost trend rate and a healthcare cost trend rate that is 1-percentage-point lower than the assumed healthcare cost trend rate?

Choose an item


Choose an item

18. Is the following additional information disclosed as applicable?

[ GASB-75, par. 217 ]

Choose an item



a. The governmental nonemployer contributing entity's proportionate share (amount) of the collective total OPEB liability, its proportion (percentage) of the collective total OPEB liability, the basis on which its proportion was determined, and the change in its proportion since the prior measurement date?

Choose an item

b. The measurement date of the collective total OPEB liability; the date of the actuarial valuation or alternative measurement method calculation on which the collective total OPEB liability is based; and, if applicable, the fact that update procedures were used to roll forward the collective total OPEB liability to the measurement date? If the alternative measurement method permitted by this Statement is used to measure the collective total OPEB liability, the fact that this alternative method was used in place of an actuarial valuation also should be disclosed.

Choose an item

c. A brief description of changes of assumptions or other inputs that affected measurement of the collective total OPEB liability since the prior measurement date?

Choose an item

d. A brief description of changes of benefit terms that affected measurement of the collective total OPEB liability since the prior measurement date?

Choose an item

e. A brief description of the nature of changes between the measurement date of the collective total OPEB liability and the governmental nonemployer contributing entity's reporting date that are expected to have a significant effect on the governmental nonemployer contributing entity's proportionate share of the collective total OPEB liability, and the amount of the expected resultant change in the governmental nonemployer contributing entity's proportionate share of the collective total OPEB liability, if known?

Choose an item

f. The amount of expense recognized by the governmental nonemployer contributing entity in the reporting period as a result of the special funding situation?

Choose an item

g. The governmental nonemployer contributing entity's balances of deferred outflows of resources and deferred inflows of resources as a result of the special funding situation, classified as follows, if applicable:

Choose an item

(1) Differences between expected and actual experience in the measurement of the collective total OPEB liability?

Choose an item


(3) Changes in the governmental nonemployer contributing entity's proportion and differences between (a) the amounts paid by the governmental nonemployer contributing entity for OPEB as the benefits came due and (b) the governmental nonemployer contributing entity's proportionate share of the total of certain payments by all employers and nonemployer contributing entities?

Choose an item

(4) Amounts associated with transactions paid by the governmental nonemployer contributing entity for OPEB as the benefits came due subsequent to the measurement date of the collective total OPEB liability?

Choose an item

h. A schedule presenting the following: Choose an item

(1) For each of the subsequent five years, and in the aggregate thereafter, the net amount of the governmental nonemployer contributing entity's balances of deferred outflows of resources and deferred inflows of resources that will

Choose an item



be recognized in the governmental nonemployer contributing entity's expense?

(2) The amount of the governmental nonemployer contributing entity's balance of deferred outflows of resources in that will be included as a reduction of the collective total OPEB liability?

Choose an item

Governmental Nonemployer Contributing Entities That Recognize a Less-Than-Substantial Proportion of the Collective Total OPEB Liability

Choose an item

19. For employers in such situations, does the employer disclose:

[ GASB-75, par. 220 ]

Choose an item

a. The name of the OPEB plan through which benefits are provided, identification of the entity that administers the OPEB plan, and identification of the OPEB plan as a single-employer or multiple-employer OPEB plan?

Choose an item

b. The fact that there are no assets accumulated in a trust that meets the criteria? If OPEB is provided through an OPEB plan that is administered through a trust and that trust does not meet the criteria, each criterion that the trust does not meet should be disclosed.

Choose an item

c. Identification of the authority under which requirements for the governmental nonemployer contributing entity to pay OPEB as the benefits come due are established or may be amended? Also, the amount paid by the governmental nonemployer contributing entity for OPEB as the benefits came due during the reporting period, if not otherwise disclosed.

Choose an item

d. The governmental nonemployer contributing entity's proportionate share (amount) of the collective total OPEB liability, its proportion (percentage) of the collective total OPEB liability, the basis on which its proportion was determined, and the change, if any, in its proportion since the prior measurement date?

Choose an item

e. The amount of expense recognized by the governmental nonemployer contributing entity in the reporting period as a result of the special funding situation, and its balances of deferred outflows of resources and deferred inflows of resources as a result of the special funding situation?

Choose an item

Insured Benefits Choose an item

20. For employers that provides OPEB through an insured plan, does the employer disclose the following in the notes:

[ GASB-75, par. 229 ]

Choose an item

a. A brief description of the insured benefits, including the benefit provisions and the authority under which the benefit provisions are established or may be amended?

Choose an item

b. The fact that the obligation for the payment of benefits has been effectively transferred from the employer to one or more insurance companies?

Choose an item

c. Whether the employer retains an obligation for benefits in the event of the insurance company's insolvency?

Choose an item

d. The current-year OPEB expense/expenditure for the insured benefits? Choose an item

Defined Contribution OPEB - No Special Funding Situation Choose an item



21. For employers that contribute to a defined contribution plan, is there the following disclosure:

[ GASB-75, par. 233 ]

Choose an item

a. The name of the OPEB plan, identification of the entity that administers the OPEB plan, and identification of the OPEB plan as a defined contribution OPEB plan?

Choose an item

b. A brief description of the benefit terms (including terms, if any, related to vesting and forfeitures and the policy related to the use of forfeited amounts) and the authority under which benefit terms are established or may be amended?

Choose an item

c. If the OPEB is provided through a defined contribution OPEB plan that is administered through a trust that meets the criteria in paragraph 4, the contribution (or crediting) rates (in dollars or as a percentage of salary) for employees, the employer, and nonemployer contributing entities, if any, and the authority under which those rates are established or may be amended?

Choose an item

d. If the OPEB is provided through a defined contribution OPEB plan that is not administered through a trust that meets the criteria:

Choose an item

(1) The fact that there are no assets accumulated in a trust that meets the criteria? If OPEB is provided through an OPEB plan that is administered through a trust and that trust does not meet the criteria, each criterion that the trust does not meet should be disclosed.

Choose an item

(2) Identification of the authority under which requirements for the employer and nonemployer contributing entities, if any, to pay OPEB as the benefits come due are established or may be amended? Also, the amount paid by the employer for OPEB as the benefits came due during the reporting period, if not otherwise disclosed.

Choose an item

e. The amount of OPEB expense recognized by the employer in the reporting period?

Choose an item

f. The amount of forfeitures reflected in OPEB expense recognized by the employer in the reporting period?

Choose an item

g. The amount of the employer's liability outstanding at the end of the period, if any?

Choose an item

Defined Contribution Plans - Employers with Special Funding Situations - Governmental Nonemployer Contributing Entities

Choose an item

22. In this situation, does the employer disclose the following information in notes to financial statements about each defined contribution OPEB plan to which a governmental nonemployer contributing entity is required to contribute a substantial proportion of the total contributions from the employer and nonemployer contributing entities:

[ GASB-75, par. 239 ]

Choose an item

a. The name of the OPEB plan, identification of the entity that administers the OPEB plan, and identification of the OPEB plan as a defined contribution OPEB plan.

Choose an item

b. A brief description of the benefit terms (including terms, if any, related to vesting and forfeitures and the policy related to the use of forfeited amounts)

Choose an item



and the authority under which benefit terms are established or may be amended?

c. If the OPEB is provided through a defined contribution OPEB plan that is administered through a trust that meets the criteria, the contribution (or crediting) rates (in dollars or as a percentage of salary) for employees, the employer, and nonemployer contributing entities, if any, and the authority under which those rates are established or may be amended?

Choose an item

d. If the OPEB is provided through a defined contribution OPEB plan that is not administered through a trust that meets the criteria:

Choose an item

(1) The fact that there are no assets accumulated in a trust that meets the criteria? If OPEB is provided through an OPEB plan that is administered through a trust and that trust does not meet the criteria, each criterion that the trust does not meet should be disclosed.

Choose an item

(2) Identification of the authority under which requirements for the employer and nonemployer contributing entities, if any, to pay OPEB as the benefits come due are established or may be amended. Also, the amount paid by the employer for OPEB as the benefits came due during the reporting period, if not otherwise disclosed?

Choose an item

e. The amount of OPEB expense recognized by the employer in the reporting period?

Choose an item

f. The amount of the employer's liability outstanding at the end of the period, if any?

Choose an item

23. If the employer contributes less than a substantial proportion, does the employer disclose: [ GASB-75, par. 240 ]

Choose an item

a. The name of the OPEB plan, identification of the entity that administers the OPEB plan, and identification of the OPEB plan as a defined contribution OPEB plan?

Choose an item

b. If the OPEB is provided through a defined contribution OPEB plan that is administered through a trust that meets the criteria, the contribution (or crediting) rates (in dollars or as a percentage of salary) for the governmental nonemployer contributing entity and the authority under which those rates are established or may be amended?

Choose an item

c. If the OPEB is provided through a defined contribution OPEB plan that is not administered through a trust that meets the criteria:

Choose an item

(1) The fact that there are no assets accumulated in a trust that meets the criteria? If OPEB is provided through an OPEB plan that is administered through a trust and that trust does not meet the criteria, each criterion hat the trust does not meet should be disclosed.

Choose an item

(2) Identification of the authority under which requirements for the governmental nonemployer contributing entity to pay OPEB as the benefits come due are established or may be amended? Also, the amount paid by the governmental nonemployer contributing entity for OPEB as the benefits came due during the reporting period, if not otherwise disclosed.

Choose an item

d. The amount of expense recognized by the governmental nonemployer contributing entity in the reporting period as a result of the special funding situation and the proportion of the total OPEB expense for OPEB provided

Choose an item



through the OPEB plan that is represented by the governmental nonemployer contributing entity's expense?

e. The amount of the governmental nonemployer contributing entity's liability outstanding at the end of the period, if any?

Choose an item

Postemployment Benefits Other Than Pensions—Plan Reporting (GASB 74) Yes, No, N/A

Defined Benefit OPEB Plans Choose an item

1. For defined benefit OPEB plans within the scope of GASB-74 , is the following information disclosed in the notes to the financial statements:

[ GASB-74, par. 34 ]

Choose an item

2. Plan description, including: Choose an item

a. The name of the OPEB plan, identification of the public employee retirement system or other entity that administers the OPEB plan, and identification of the OPEB plan as a single-employer, agent, or cost-sharing OPEB plan?

Choose an item

b. The number of participating employers (if the OPEB plan is a multiple-employer plan and the number of nonemployer contributing entities, if any?

Choose an item

c. Information regarding the OPEB plan's board and its composition (for example, the number of trustees by source of selection or the types of constituency or credentials applicable to selection)?

Choose an item

d. Classes of plan members covered and number of plan members, separately identifying:

Choose an item

(1) The number of inactive plan members (or their beneficiaries) currently receiving benefits?

Choose an item

(2) The number of inactive plan members entitled to but not yet receiving benefits?

Choose an item

(3) The number of active plan members? Choose an item

e. If applicable, the fact that the OPEB plan is closed to new entrants? Choose an item

f. The authority under which benefit terms are established or may be amended and the types of benefits provided through the OPEB plan? If the OPEB plan or the entity that administers the OPEB plan has the authority to establish or amend benefit terms, a brief description should be provided of the benefit terms, including the key elements of the OPEB formulas and the terms or policies, if any, with respect to automatic postemployment benefit changes, including automatic cost-of-living adjustments (automatic COLAs), and ad hoc post-employment benefit changes, including ad hoc cost-of-living adjustments (ad hoc COLAs).

Choose an item

g. A brief description of contribution requirements including: Choose an item

(1) Identification of the authority under which contribution requirements of employers, nonemployer contributing entities, if any, and plan members are established or may be amended?

Choose an item



(2) The contribution rates (in dollars or as a percentage of covered payroll) of those entities for the reporting period?

Choose an item

(3) Legal or contractual maximum contribution rates, if applicable. [If the OPEB plan or the entity that administers the OPEB plan has the authority to establish or amend contribution requirements, disclose the basis for determining contributions (for example, statute, contract, an actuarial basis, or some other manner).

Choose an item

3. If the OPEB plan or the entity that administers the OPEB plan has the authority to establish or amend contribution requirements, the basis for determining contributions (for example, statute, contract, an actuarial basis, or some other manner)?

Choose an item

4. In regard to OPEB plan investments: Choose an item

a. Investment policies, including: Choose an item

(1) Procedures and authority for establishing and amending investment policy decisions?

Choose an item

(2) Policies pertaining to asset allocation? Choose an item

(3) Description of significant investment policy changes during the reporting period?

Choose an item

b. Identification of investments (other than those issued or explicitly guaranteed by the U.S. government) in any one organization that represent 5 percent or more of the OPEB plan's fiduciary net position?

Choose an item

c. The annual money-weighted rate of return on OPEB plan investments calculated as the internal rate of return on OPEB plan investments, net of OPEB plan investment expense?

Note: OPEB plan investment expense should be measured on the accrual basis of accounting. Inputs to the internal rate of return calculation should be determined at least monthly. The use of more frequently determined inputs is encouraged.

Choose an item

d. In regard to receivables: Choose an item

(1) The terms of any long-term contracts for contributions to the OPEB plan between (1) an employer or nonemployer contributing entity and (2) the OPEB plan?

Choose an item

(2) The balances outstanding on any such long-term contracts at the end of the OPEB plan's reporting period?

Choose an item

e. For allocated insurance contracts excluded from OPEB plan assets: Choose an item

(1) The amount reported in benefit payments in the current period that is attributable to the purchase of allocated insurance contracts?

Choose an item

(2) A brief description of the OPEB for which allocated insurance contracts were purchased in the current period?

Choose an item

(3) The fact that the obligation for the payment of benefits covered by allocated insurance contracts has been transferred to one or more insurance companies?

Choose an item

f. Reserves - In circumstances in which there is a policy of setting aside, for Choose an item



purposes such as benefit increases or reduced employer contributions, a portion of the OPEB plan's fiduciary net position that otherwise would be available for existing OPEB or for OPEB plan administration, does the OPEB Plan disclose:

(1) A description of the policy related to such reserves? Choose an item

(2) The authority under which the policy was established and may be amended?

Choose an item

(3) The purposes for and conditions under which the reserves are required or permitted to be used?

Choose an item

(4) The balances of the reserves? Choose an item

5. Additionally, for single-employer and cost-sharing defined benefit OPEB plans within the scope of GASB-74 , is the following information disclosed in the notes to the financial statements:

[ GASB-74, par. 35 ]

Note: The following information included in the notes to the financial statements should be measured as of the OPEB plan's most recent fiscal year-end. Information about cost-sharing OPEB plans should be presented for the OPEB plan as a whole.

In GASB-74 , except where indicated otherwise, references to net OPEB liability also apply to the situation where the plan's fiduciary net OPEB exceeds the total OPEB liability resulting in a net OPEB asset.

Choose an item

a. The components of the liability of the employers and nonemployer contributing entities to plan members for benefits provided through the OPEB plan (net OPEB liability), calculated in accordance with GASB-74, pars. 39-54 , including:

Choose an item

(1) The total OPEB liability? Choose an item

(2) The plan's fiduciary net position? Choose an item

(3) The net OPEB liability? Choose an item

(4) The OPEB plan's fiduciary net position as a percentage of the total OPEB liability?

Choose an item

b. Significant assumptions and other inputs used to measure the total OPEB liability, including assumptions about:

Choose an item





(5) The sharing of benefit-related costs with inactive members? Choose an item

c. With regard to the healthcare cost trend rate, measures of the net OPEB liability calculated using (a) a healthcare cost trend rate that is 1-percentage-point higher than the assumed healthcare cost trend rate and (b) a healthcare cost trend rate that is 1-percentage-point lower than the assumed healthcare cost trend rate should be disclosed?

Choose an item



d. In regard to the discount rate: Choose an item

(1) The discount rate applied in the measurement of the total OPEB liability and the change in the discount rate since the OPEB plan's prior fiscal year-end, if any?

Choose an item

(2) Assumptions made about projected cash flows into and out of the OPEB plan, such as contributions from employers, nonemployer contributing entities, and plan members?

Choose an item

(3) The long-term expected rate of return on OPEB plan investments and a description of how it was determined, including significant methods and assumptions used for that purpose?

Choose an item

(4) If the discount rate incorporates a municipal bond rate, the municipal bond rate used and the source of that rate?

Choose an item

(5) The periods of projected benefit payments to which the long-term expected rate of return and, if used, the municipal bond rate applied to determine the discount rate?

Choose an item

(6) The assumed asset allocation of the OPEB plan's portfolio, the long-term expected real rate of return for each major asset class, and whether the expected rates of return are presented as arithmetic or geometric means, if not otherwise disclosed?

Choose an item

(7) Measures of the net OPEB liability calculated using (i) a discount rate that is 1-percentage-point higher than that required by GASB-74 par. 48 and (ii) a discount rate that is 1-percentage-point lower than that required by GASB-74 par. 48 ?

Choose an item

e. The date of the actuarial valuation on which the total OPEB liability is based and if applicable, the fact that update procedures were used to roll forward the total OPEB liability to the OPEB plan's fiscal year-end?

Choose an item

Defined Contribution OPEB Plans Choose an item

6. For defined contribution OPEB plans within the scope of GASB-74 , is the following information disclosed in the notes to the financial statements:

[ GASB-74, par. 60 ]

Note: The notes to financial statements of a defined contribution OPEB plan should include all of the following disclosures, as applicable, when the financial statements are presented (a) in a stand-alone OPEB plan financial report or (b) solely in the financial report of another government (as a OPEB trust fund).

If (a) a defined contribution OPEB plan is included in the financial report of a government that applies the requirements of GASB-75 for benefits provided through the OPEB plan and (b) similar information is required by GASB-74 and GASB-74 , the government should present the information in a manner that avoids unnecessary duplication.

Choose an item

a. Identification of the OPEB plan as a defined contribution OPEB plan? Choose an item

b. Classes of plan members covered (for example, general employees or public safety employees), the number of plan members, participating employers (if the OPEB plan is a multiple-employer OPEB plan, and, if any, nonemployer contributing entities?

Choose an item



c. The authority under which the OPEB plan is established or may be amended? Choose an item

Do not delete this area of work paper Do not delete this area of work paper Do not delete this area of work paper Do not delete this area of work paper Do not delete this area of work paper

Sales and Pledges of Receivables and Future Revenues Yes, No, N/A

1. For transactions in which the government receives, or is entitled to receive, proceeds in exchange for future cash flows from receivables, and the government’s continuing involvement with those receivables have been effectively terminated, has the government reported the transaction as a sale? [ GASB 48, pars. 5–9 and 13–14 ( GASB Cod. Secs. S20.102–107 and .110–111 ) ]

N/A

2. For transactions in which the government receives, or is entitled to receive, proceeds in exchange for future cash flows from receivables, and the government does not meet the criteria for the transaction to be classified as a sale, has the government reported the transaction as a collateralized borrowing? [ GASB 48, pars. 11–12 ( GASB Cod. Secs. S20.108–109 ) ]

N/A

3. In a sale of future revenues, are the proceeds reported as a deferred inflow of resources in both the government wide and fund financial statements except for instances where recognition of revenue during the period is appropriate (when the receivable will be collected during the year)?

• [ GASB-65, pars. .12-.14 and GASB-48, par. 14 ( GASB Cod Secs. S20.111-.112 ]

N/A

4. For transfers of assets and future revenues within the same reporting entity has the transferee recognized the assets or future revenues at the same carrying value of the transferor, and any difference between that amount and the amount paid recorded as income or expense only if the recognition criteria are met as follows:

[ GASB-65, par. 13 ( GASB Cod. Secs. S20.112–113 )

• Gain or loss by the transferor in separately issued financial statements?

• Revenue or expenditure/expense by the transferee in separately issued financial statements?

• Transfers or subsidies in the financial statements of the reporting entity?

• For sales of future revenues, a deferred outflow of resources by the transferee and amortized over the life of the agreement?

• For sales of future revenues, deferred inflow of resources to be recognized over the duration of the sale agreement?

N/A



5. For the receipt of a note or a residual certificate arising from a sale of specific receivables or future revenues, has the government properly reported the residual interest as follows:

[ GASB 48, par. 17 ( GASB Cod. Sec. S20.114 )

• For the transferor, as an adjustment to the sale gain or loss in the period of the sale, and as revenues in subsequent periods?

• For the transferee, as a liability for its obligation to remit residuals?

N/A

6. Has the transferor recognized estimated liabilities arising from the agreement, such as recourse obligations or repurchase commitments, when information available prior to the issuance of the financial statements indicates that it is probable that a liability has been incurred at the date of the financial statements and the amount can be reasonably estimated? [ GASB 48, par. 18 ( GASB Cod. Sec. S20.115 ) ]

N/A

7. For pledges of future revenues when the resources are not received by the pledging government, and a component unit issues debt for the benefit of the pledging government where the future revenue has been pledged to the component unit, has the pledging government and component unit reported the arrangement as follows: [ GASB 48, pars. 19–20 ( GASB Cod. Secs. S20.116–117 ) ]

N/A

a. At the time of the pledge agreement, the pledging government has not recognized a liability, and the component unit has not recognized a receivable?

N/A

b. Upon recognition of the revenue that is pledged, the pledging government has recorded the revenue and a liability and related expenditure/expense?

N/A

c. The debt-issuing component unit has recognized revenue when the pledging government is obligated to make the payments?

N/A

8. For each period in which secured debt remains outstanding, do the notes to the financial statements of the pledging government disclose: [ GASB 48, par. 21 ( GASB Cod. Sec. S20.118 ) ]

N/A

a. Identification of the specific revenue pledged and the approximate amount of the pledge?

N/A

b. Identification and the general purpose of the debt secured by the pledge? N/A

c. The period of time during which the pledged revenue will not be available for other purposes?

N/A

d. The relationship of the pledged amount to the total for that specific revenue, if estimable?

N/A

e. A comparison of the pledged revenues recognized during the period to the principal and interest requirement for the debt directly or indirectly collateralized by the pledged revenues?

N/A

9. In the year of sales of future revenues, do the notes to the financial statements of the selling government disclose: [ GASB 48, par. 22 ( GASB Cod. Sec. S20.119 ) ]

N/A

a. Identification of the specific revenue sold, including the approximate amount sold, and the significant assumptions used in determining the approximate amount?

N/A



b. The period to which the sale applies? N/A

c. The relationship of the sold amount to the total for that specific revenue, if estimable?

N/A

d. A comparison of the sale proceeds and the present value of the future revenues sold, including significant present value assumptions?

N/A


Subsequent Event Disclosures Yes, No, N/A

1. Have the financial statements been adjusted for any material changes in estimates or other recognized events resulting from subsequent events that provide additional information about conditions that existed at the financial statement date? [ GASB 10, par. 53 ( GASB Cod. Sec. C50.110 ); GASB 56, par. 9 ( GASB Cod. Secs. 2250.107-110 ); SAS 1, sec. 560, pars. 3, 4, and 7 ( AU 560.03, .04, and .07 ) ]

N/A

2. If information becomes available after the financial statement date but before the financial statements are issued, that indicates that an asset was impaired or a liability was incurred after the financial statement date or that there is at least a reasonable possibility that an asset was impaired or a liability was incurred after that date, did the entity disclose the nature of the loss or loss contingency and give an estimate of the amount or range of loss or possible loss or state that such an estimate cannot be made? [ GASB 10, par. 80 ( GASB Cod. Secs. 2300.106f and C50.149 ); SAS 1, sec. 560, pars. 5–7 and 9 ( AU 560.05–07 and .09 ) ]

Yes

3. Do the notes to the financial statements disclose nonrecognized subsequent events that are essential to a user’s understanding of the financial statements such as the issuance of bonds, the creation of a new component unit, or casualty loss of a facility? [ GASB 56, par. 13 ( GASB Cod. Secs. 2250.108-111 )

Yes

4. Does management’s discussion and analysis (MD&A) of currently known facts, decisions, or conditions that are expected to have a significant effect on the government’s financial position or results of operations include a discussion of subsequent events when warranted by the facts and circumstances? [ GASB 56, par. 15 ( GASB Cod. Secs. 2200.109 and 2250.113 )

Yes


Documents

FINANCIAL STATEMENT PRESENTATION AND DISCLOSURES …cacubo.org/wp-content/uploads/2018/05/GASB-Disclosure-Checklist.pdf · FINANCIAL STATEMENT PRESENTATION AND DISCLOSURES CHECKLIST