GASB 34 Conversion Worksheet for Boards of Education General Instructions for Use This workbook has been provided as a tool to fa by hyw14090

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									                      GASB 34 Conversion Worksheet for Boards of Education
                                               General Instructions for Use
This workbook has been provided as a tool to facilitate your unit's conversion to the full accrual statements required by GASB
34. In preparation of this workbook, the staff of the LGC has assumed that the user has a good working knowledge of Excel.
The LGC's staff will provide accounting support for use of this workbook; however, we cannot give detailed instruction in the use
of Excel.

The user should download a blank workbook appropriate for his/her unit of government and save it permanently on a local
computer. It would be best to then make another copy for the current year's data. If for whatever reason the current file becomes
corrupted, the user should reload the blank copy from their local computer (or download another from the web) and begin again.
For maximum protection, users should save their work frequently as they enter data.

Most of the workbook is protected to prevent accidental changes in formulas and the mapping of cells. The password to unlock
the workbook is gasb34 (must be entered in lower case, no spaces). Only users with advanced Excel skills should attempt to
change the workbook by releasing the protection.

The workbook is color-coded. Blue cells are calculated numbers and are protected and locked. Yellow cells are those that
need data entered by the user. However, some yellow cells may not be applicable to your unit and can be left blank. The tan
sections on the summary worksheet are those accounts that have multiple rows included for one account to be summed at the
end of the conversion process. The purple rows are proof totals.

This workbook is mapped using cell references. Any addition of columns and/or rows could alter the formulas and corrupt the
data. There are columns and rows placed in the program in areas where we felt that you may need to add additional text and
data. Using these columns and rows will help prevent the altering of formulas and cell references. In most cases they are yellow
and named "other" funds or "other" accounts, etc. They should be obvious. For accounts, if you type the name of your unique
account in the trial balance, it will be used consistently throughout the various worksheets.


The staff has tried to anticipate the most likely scenarios for governments in North Carolina . However, it is impossible for us to
anticipate every unique situation that exists in our local governments. If you need assistance with your particular data, please
call and we will make every attempt to help you enter the data into the workbook. However, some instances will exist for which
the workbook will not make the necessary calculation. The "manual entry" columns on the summary worksheet are there for this
purpose. The user can calculate the necessary entry and post it in this column to the appropriate accounts.

This workbook is designed to calculate the government-wide numbers for all governmental-type activities, including the
classification of net assets. A separate workbook is available to calculate the government-wide numbers for all business-type
activities.

Sample workbooks are available for Carolina County, City of Dogwood, and Carolina Board of Education. Refer to the proper
workbook for your particular unit type. Please note that in some cases immaterial amounts have been used to demonstrate a
transaction in the three examples above. For your statements, determine materiality by the proper criteria and please do not be
mislead by the small amounts in our examples.


Specific Instructions:
This workbook is set up in a series of worksheets that address the various entries required to convert from modified to full
accrual. Some entries must be initially recorded, some are simple reclassifications, and others are allocations to programs or
functions. The workbook is based on the premise of answering a series of questions for those areas where modified and full
accrual differ in their treatment of a transaction. The answers to these questions will generate accounting entries which are
automatically mapped or linked to the conversion worksheet. Many entries are recorded only in this conversion worksheet and
are not to be recorded in the general ledger but some effect permanent accounts like capital assets, depreciation, and liabilities.
These entries must be posted to the unit's ledger accounts in order to properly reflect the beginning balances for the next year.
In each case, the specific instructions to the individual worksheets indicate whether an entry to the permanent accounts is
required.

The first worksheet is the "summary" sheet titled "Conversion Worksheet." This is a trial balance to which all the other sheets
will post. It is also the sheet where you will begin your data entry. The far most left columns are the trial balance columns.
Please enter your adjusted pre-closing trial balance numbers here. We have assumed that you have prepared your fund
statements at this point and that the trial balance is adjusted to reflect any changes that are needed to be made at the fund
level.


    9a7ec0c4-de43-41f7-981d-7d8e04bccc6c.xls
Specific Instructions - continued

When you have worked through all the other worksheets (Beg. CA & LTD plus Tabs A to I), the conversion worksheet will have
your government-wide numbers for the governmental-type activities column of the Statement of Net Assets and the Statement of
Activities. You may change fund titles as you see fit but if you unprotect the sheet and add lines or columns, formulas may be
effected. Please do not do so unless you have strong Excel skills. Some "other" asset and "other" liability accounts (in yellow)
have been added to handle the case where you need another account. These titles can be changed on the trial balance and will
then be used consistently throughout the workbook.


Workbook Contents:
Complete explanations and instructions are presented on each of the worksheets following the 'Conversion Worksheet.' A brief
synopsis is presented below.

       Instructions: synopsis and general guidelines for use of the workbook.
       Conversion Worksheet: includes trial balances for all governmental funds, columns for prior year capital assets and long-
       term debt balances, and columns for posting the various reclassification, conversion, elimination and consolidation entries
       resulting in the final numbers for governmental-type activities for the statements.
       Beginning Capital Assets & LTD: records the beginning balances for capital assets, their corresponding accumulated
       depreciation accounts and long-term liabilities. These accounts would have been recorded in the General Fixed Asset
       Account Group and the General Long-term Debt Account Group under the old model of reporting. The offset to the entry is
       to fund balance.
 A.    Revenue by Function : allocates revenue to the proper government-wide financial statement categories (Charges for
       Services, Operating Grants and contributions, and Capital grants and contributions) and their respective
       programs/functions for presentation on the Statement of Activities.
 B.    Depreciation: records depreciation expense for all asset classes by program/function and records unallocated amounts.
 C.    Capital Outlay & Donations: converts capital outlay expenditures for items above the capitalization threshold to the
       proper asset class and reduces respective program/function expenditures. Records donations of capital assets and
       recognizes revenue.
 D.    Capital Asset Disposal: addresses disposals of capital asset entries - sales, trades, retirements, impairments, etc. and
       generates the correct entry to asset classes, programs/functions, and revenue or expenditure accounts.
 E.    Debt Service: converts debt service expenditures to the proper reductions in liability accounts.
 F.    Debt Issues: addresses all other debt transactions including new debt issues, refunding, and amortization.
 G.    Other Asset Entries: addresses the asset accounts, equity interest in joint venture, prepaid expenses, inventory, and
       advance funding of pensions.
 H.    Other Liabilities & Expenses: addresses compensated absences, claims & judgments, net pension obligation, and other
       long-term liabilities.
 I.    Eliminations - Consolidations: addresses all elimination and consolidation entries related to interfund payables,
       receivables & transfers; creates the entries for recording the current portion of long-term liabilities, and records the
       reclassification of fund balance to the net asset accounts of invested in capital assets net of related debt, restricted and
       unrestricted net assets.

       There may be instances in the individual worksheets where negative debits or credits are generated in an entry and we did not create formulas to reclassify
       as a positive number. If this occurs do not be alarmed, it will be corrected in the final columns of the Conversion Worksheet.


Printing:

       Worksheets have been created such that they can be printed for offline review. On the Conversion Worksheet, once all the
       detail fund data has been entered and the grand totals are as you expected, those detail fund columns can be hidden so
       that one sees the account titles on the left and then the column "Total Governmental Funds." By hiding detail columns you
       will be able to fit the conversion worksheet to legal size paper. Please note that to hide columns, you must unprotect the
       worksheet. We suggest, that once fund detail is verified, that you unprotect the worksheet, hide the detail fund columns,
       and then re-protect the worksheet in order not to overwrite formulas and mapping. All other worksheets fit on standard
       8.5x11 paper. Some worksheets result in such complicated entries that a work section is presented below the final entry to
       accumulate all activity. These work sections are not defined in the normal print range. If you wish to print the work
       sections, you will need to select the work section for printing or redefine your print ranges. Please note that the work
       sections may be larger than regular 8.5x11 paper.




      9a7ec0c4-de43-41f7-981d-7d8e04bccc6c.xls
                                              1/6/2011                                                                                                                                                                                                                    Carolina County Board of Education                                                                                                                                                                                                                                                            Page 3 of 33
                                                                                                                                                                                                                                                                           GASB 34 Conversion Worksheet
                                                                                                                                                                                                                                                   to prepare the Government-wide Statements - (including adjustments and consolidations)




                                                                                           Notes 1 & 2 --- Data is entered                                                                                  Notes 1 & 2 --- Data is entered                               Appears in one column on    Grand total of major and           Note 4: Entry from Worksheet Note 4: Entry from            Note 5: Conversion and annual accruals       Note 6: Reclassifications, eliminations, and Notes 1 & 2 - Data is entered
                              Accounts in tan have multiple                                                                                                                                                                                                               the gov't funds statement   nonmajor funds - computed field   Beginning Capital Assets & LTD           Worksheet A               Entries from Worksheets B to H           consolidation entries - Worksheet I                Entries must balance.

                              lines to which entries are posted.                                                                           Major Funds                                                                       Non-major Governmental Funds                                                     Total                           Capital Assets and                                                                                        Reclassifications and                                                                          Statement of              Statement of
                                                                                                     General                 State Public School Individual Schools   Capital Outlay Fund   Other Fund #1       Federal Grants Fund      Other Fund #2    Other Fund #3    Subtotal Non-Major           Governmental Funds                 Long-term Debt Accounts                                             Conversion Entries                           Eliminations                              Manual Entries                 Working Column     Activities                Net Assets
                                           Description                                          Dr              Cr              Dr          Cr       Dr       Cr        Dr           Cr      Dr       Cr          Dr             Cr       Dr        Cr    Dr       Cr        Dr         Cr                Dr          Cr                       Dr             Cr              Dr               Cr    Ref        Dr        Ref     Cr             Ref       Dr       Ref     Cr                           Dr                    Cr    Dr          Cr   Dr           Cr           Dr          Cr
Balance Sheet Accounts
 Assets
     Cash and Investments                                                                                                                                                                                                                                                         -              -              -                -                                                                                                                                                                                                       -        -                                -             -
     Restricted cash                                                                                                                                                                                                                                                              -              -              -                -                                                                                                                                                                                                       -        -                                -             -
     Accrued interest receivable                                                                                                                                                                                                                                                  -              -              -                -                                                                   G.1            -                                                                                                                    -        -                                -             -
     Due from other funds                                                                                                                                                                                                                                                         -              -              -                -                                                                                                                                      I.2           -                                                  -        -
                                                                                                                                                                                                                                                                                  -              -              -                -                                                                                                                                      I.3           -                                                  -        -
                                                                                                                                                                                                                                                                                  -              -              -                -                                                                                                                                      I.4           -                                                  -        -
                              Due from fiduciary funds                                                                                                                                                                                                                            -              -              -                -                                                                                                                I.4           -                                                                        -        -                                -             -
                              Due from other governments                                                                                                                                                                                                                          -              -              -                -                                                                                                                                                                                                       -        -                                -             -
                              Advances to other funds                                                                                                                                                                                                                             -              -              -                -                                                                                                                                      I.3           -                                                  -        -                                -             -
                                                                                                                                                                                                                                                                                  -              -              -                -                                                                                                                                      I.2           -                                                  -        -
                              Internal balances                                                                                                                                                                                                                                   -              -              -                -                                                                                                                I.3           -                                                                        -        -                                -             -
                              Inventories                                                                                                                                                                                                                                         -              -              -                -                                                                                                                                                                                                       -        -                                -             -
                              Prepaid items                                                                                                                                                                                                                                       -              -              -                -                                                                                                                                                                                                       -        -                                -             -
                              Assets held for resale                                                                                                                                                                                                                              -              -              -                -                                                                                                                                                                                                       -        -                                -             -

                              Land                                                                                                                                                                                                                                                -              -              -                -                   -                                               C.1            -          D.1           -                                                                                           -        -
                                                                                                                                                                                                                                                                                  -              -              -                -                                                                   D.1            -                                                                                                                    -        -
                                                                                                                                                                                                                                                                                  -              -              -                -                                                                   C.3            -                                                                                                                    -        -
                              Construction in progress                                                                                                                                                                                                                            -              -              -                -                   -                                               C.1            -                                                                                                                    -        -                                -             -
                              Buildings                                                                                                                                                                                                                                           -              -              -                -                   -                                               C.1            -          D.1           -                                                                                           -        -                                              -
                                                                                                                                                                                                                                                                                  -              -              -                -                                                                   D.1            -                                                                                                                    -        -
                                                                                                                                                                                                                                                                                  -              -              -                -                                                                   C.3            -                                                                                                                    -        -
                              Accum. Depreciation - Buildings                                                                                                                                                                                                                     -              -              -                -                                -                                  D.1            -          B.1           -                                                                                           -        -                                -             -

                              Equipment and Furniture                                                                                                                                                                                                                             -              -              -                -                   -                                               C.1            -          D.1           -                                                                                           -        -                                              -
                                                                                                                                                                                                                                                                                  -              -              -                -                                                                   D.1            -                                                                                                                    -        -
                                                                                                                                                                                                                                                                                  -              -              -                -                                                                   C.3            -                                                                                                                    -        -
                              Accum. Depreciation - Equipment and Furniture                                                                                                                                                                                                       -              -              -                -                                -                                  D.1            -          B.1           -                                                                                           -        -                                -             -

                              Vehicles & Motorized Equipment                                                                                                                                                                                                                      -              -              -                -                   -                                               C.1            -          D.1           -                                                                                           -        -                                              -
                                                                                                                                                                                                                                                                                  -              -              -                -                                                                   D.1            -                                                                                                                    -        -
                                                                                                                                                                                                                                                                                  -              -              -                -                                                                   C.3            -                                                                                                                    -        -
                              Accum. Depreciation - Vehicles & Mot. Equipment                                                                                                                                                                                                     -              -              -                -                                -                                  D.1            -          B.1           -                                                                                           -        -                                -             -

                              Library Books                                                                                                                                                                                                                                       -              -              -                -                   -                                               C.1        -              D.1           -                                                                                           -        -                                              -
                                                                                                                                                                                                                                                                                  -              -              -                -                                                                   D.1        -                                                                                                                        -        -
                                                                                                                                                                                                                                                                                  -              -              -                -                                                                   C.3        -                                                                                                                        -        -
                              Accum. Depreciation - Library Books                                                                                                                                                                                                                 -              -              -                -                                -                                  D.1    #VALUE!            B.1           -                                                                                      #VALUE!       -                          #VALUE!    #VALUE!

                              Computer equipment                                                                                                                                                                                                                                  -              -              -                -                   -                                               C.1            -          D.1           -                                                                                           -        -                                              -
                                                                                                                                                                                                                                                                                  -              -              -                -                                                                   D.1            -                                                                                                                    -        -
                                                                                                                                                                                                                                                                                  -              -              -                -                                                                   C.3            -                                                                                                                    -        -
                              Accum Depreciation                     Computer equipment                                                                                                                                                                                           -              -              -                -                                -                                  D.1            -          B.1           -                                                                                           -        -                                -             -

                              Other Asset Class 2                                                                                                                                                                                                                                 -              -              -                -                   -                                               C.1            -          D.1           -                                                                                           -        -                                              -
                                                                                                                                                                                                                                                                                  -              -              -                -                                                                   D.1            -                                                                                                                    -        -
                                                                                                                                                                                                                                                                                  -              -              -                -                                                                   C.3            -                                                                                                                    -        -
                              Accum Depreciation                     Other Asset Class 2                                                                                                                                                                                          -              -              -                -                                -                                  D.1            -          B.1           -                                                                                           -        -                                -             -

  Liabilities
     Accounts payable and accrued liabilities                                                                                                                                                                                                                                     -              -              -                -                                                                                                                                                                                                       -        -                                -             -
     Accrued salaries and wages payable                                                                                                                                                                                                                                           -              -              -                -                                                                                                                                                                                                       -        -                                -             -
     Due to other funds                                                                                                                                                                                                                                                           -              -              -                -                                                                                                                I.2           -                                                                        -        -                                              -
                                                                                                                                                                                                                                                                                  -              -              -                -                                                                                                                I.3           -                                                                        -        -
                                                                                                                                                                                                                                                                                  -              -              -                -                                                                                                                I.4           -                                                                        -        -
                              Due to fiduciary funds                                                                                                                                                                                                                              -              -              -                -                                                                                                                                      I.4           -                                                  -        -                                -             -
                              Deferred revenue                                                                                                                                                                                                                                    -              -              -                -                                                                                                                                                                                                       -        -                                -             -
                              Unearned revenue                                                                                                                                                                                                                                    -              -              -                -                                                                                                                                                                                                       -        -                                -             -
                              Advances from other funds                                                                                                                                                                                                                           -              -              -                -                                                                                                                I.2           -                                                                        -        -                                              -
                                                                                                                                                                                                                                                                                  -              -              -                -                                                                                                                I.3           -                                                                        -        -
                              Accrued interest payable                                                                                                                                                                                                                            -              -              -                -                                                                                             E.3           -                                                                                           -        -                                -             -
                                                                                                                                                                                                                                                                                  -              -              -                -                                                                   E.4            -          E.4           -                                                                                           -        -
                              Claims and judgments payable - current                                                                                                                                                                                                              -              -              -                -                                                                                                                                      I.6           -                                                  -        -                               -              -
                              Compensated absences - current                                                                                                                                                                                                                      -              -              -                -                                                                                                                                      I.6           -                                                  -        -                               -              -
                              Lease purchases/Installment purchases - current                                                                                                                                                                                                     -              -              -                -                                                                                                                                      I.6           -                                                  -        -                               -              -
                              Bonds and notes - current                                                                                                                                                                                                                           -              -              -                -                                                                                                                                      I.6           -                                                  -        -                               -              -
                              County installment purchases - current                                                                                                                                                                                                              -              -              -                -                                                                                                                                      I.6           -                                                  -        -                               -              -
                              Guaranteed energy savings contract - current                                                                                                                                                                                                        -              -              -                -                                                                                                                                      I.6           -                                                  -        -                               -              -
                              Other long-term liability #1             - current                                                                                                                                                                                                  -              -              -                -                                                                                                                                      I.6           -                                                  -        -                               -              -
                              Other long-term liability #2             - current                                                                                                                                                                                                  -              -              -                -                                                                                                                                      I.6           -                                                  -        -                               -              -
                              Lease purchases/Installment purchases                                                                                                                                                                                                               -              -              -                -                                -                                  E.2            -          F.1           -    I.6           -                                                                        -        -                               -              -
                              Bonds and notes payable                                                                                                                                                                                                                             -              -              -                -                                -                                  E.2            -          F.1           -    I.6           -                                                                        -        -                               -              -
                              County installment purchases                                                                                                                                                                                                                        -              -              -                -                                                                   E.2            -          F.1           -    I.6           -                                                                        -        -                               -              -
                              Guaranteed energy savings contract                                                                                                                                                                                                                  -              -              -                -                                -                                  E.2            -          F.1           -    I.6           -                                                                        -        -                               -              -
                              Liabilities payable from restricted assets                                                                                                                                                                                                          -              -              -                -                                -                                                                                                                                                                      -        -                               -              -
                              Other postemployment benefits                                                                                                                                                                                                                       -              -              -                -                                -                                  H.1            -          H.1           -                                                                                           -        -                               -              -
                              Compensated absences payable                                                                                                                                                                                                                        -              -              -                -                                -                                  H.1            -          H.1           -    I.6           -                                                                        -        -                               -              -
                              Claims and judgments                                                                                                                                                                                                                                -              -              -                -                                -                                                            H.1           -    I.6           -                                                                        -        -                               -              -
                              Other long-term liability #1                                                                                                                                                                                                                        -              -              -                -                                -                                                            H.1           -    I.6           -                                                                        -        -                               -              -
                              Other long-term liability #2                                                                                                                                                                                                                        -              -              -                -                                -                                                            H.1           -    I.6           -                                                                        -        -                               -              -
                              Fund Equity - Beginning                                                                                                                                                                                         -                                   -              -              -                -                   -            -                                  E.3            -          G.1           -                                                                                           -        -                               -
                              Change in Net Assets                                                                                                                                                                                                                                -              -              -                -                                                                                                                                                                                                       -        -                          #VALUE!    #VALUE!
                              Ending Net Assets, reclassified                                                                                                                                                                                                                     -              -              -                -                                                                                                                I.9   #VALUE!                                                                     #VALUE!       -                          #VALUE!    #VALUE!

  Net Assets
     Invested in capital assets net of related debt                                                                                                                                                                                                                               -              -              -                -                                                                                                                                      I.9           -                                                  -        -                                -             -
     Restricted for capital projects                                                                                                                                                                                                                                              -              -              -                -                                                                                                                                      I.9           -                                                  -        -                                -             -
     Restricted for Individual Schools                                                                                                                                                                                                                                            -              -              -                -                                                                                                                                      I.9           -                                                  -        -                                -             -
     Restricted for Regular instructional services (5100)                                                                                                                                                                                                                         -              -              -                -                                                                                                                                      I.9           -                                                  -        -                                -             -
     Restricted for Special populations services (5200)                                                                                                                                                                                                                           -              -              -                -                                                                                                                                      I.9           -                                                  -        -                                -             -
     Restricted for Alternative programs and services (5300)                                                                                                                                                                                                                      -              -              -                -                                                                                                                                      I.9           -                                                  -        -                                -             -
  Government-wide Statement




     Restricted for School leadership services (5400)                                                                                                                                                                                                                             -              -              -                -                                                                                                                                      I.9           -                                                  -        -                                -             -


                                              9a7ec0c4-de43-41f7-981d-7d8e04bccc6c.xls
                                            1/6/2011                                                                                                                                                                                                                      Carolina County Board of Education                                                                                                                                                                                                                                                                Page 4 of 33
                                                                                                                                                                                                                                                                           GASB 34 Conversion Worksheet
                                                                                                                                                                                                                                                   to prepare the Government-wide Statements - (including adjustments and consolidations)




                                                                                           Notes 1 & 2 --- Data is entered                                                                                  Notes 1 & 2 --- Data is entered                               Appears in one column on    Grand total of major and           Note 4: Entry from Worksheet Note 4: Entry from                Note 5: Conversion and annual accruals   Note 6: Reclassifications, eliminations, and Notes 1 & 2 - Data is entered
                              Accounts in tan have multiple                                                                                                                                                                                                               the gov't funds statement   nonmajor funds - computed field   Beginning Capital Assets & LTD           Worksheet A                   Entries from Worksheets B to H       consolidation entries - Worksheet I                Entries must balance.

                              lines to which entries are posted.                                                                           Major Funds                                                                       Non-major Governmental Funds                                                     Total                           Capital Assets and                                                                                        Reclassifications and                                                                          Statement of                  Statement of
                                                                                                     General                 State Public School Individual Schools   Capital Outlay Fund   Other Fund #1       Federal Grants Fund      Other Fund #2    Other Fund #3    Subtotal Non-Major           Governmental Funds                 Long-term Debt Accounts                                                 Conversion Entries                       Eliminations                              Manual Entries                Working Column      Activities                    Net Assets
  Government-wide Statement




                                           Description                                          Dr              Cr              Dr          Cr       Dr       Cr        Dr           Cr      Dr       Cr          Dr             Cr       Dr        Cr    Dr       Cr        Dr         Cr                Dr          Cr                       Dr             Cr              Dr               Cr        Ref        Dr        Ref     Cr         Ref       Dr       Ref     Cr                           Dr                    Cr   Dr          Cr    Dr           Cr               Dr          Cr
                              Restricted for Co-curricular services (5500)                                                                                                                                                                                                        -              -              -                -                                                                                                                                      I.9       -                                                    -         -                                    -          -
                              Restricted for School-based support services (5800)                                                                                                                                                                                                 -              -              -                -                                                                                                                                      I.9       -                                                    -         -                                    -          -
                              Restricted for Support and development services (6100)                                                                                                                                                                                              -              -              -                -                                                                                                                                      I.9       -                                                    -         -                                    -          -
                              Restricted for Special population support and development services (6200)                                                                                                                                                                           -              -              -                -                                                                                                                                      I.9       -                                                    -         -                                    -          -
                              Restricted for Alternative programs & services support & develop. ser. (6300)                                                                                                                                                                       -              -              -                -                                                                                                                                      I.9       -                                                    -         -                                    -          -
                              Restricted for Technology support services (6400)                                                                                                                                                                                                   -              -              -                -                                                                                                                                      I.9       -                                                    -         -                                    -          -
                              Restricted for Operational support services (6500)                                                                                                                                                                                                  -              -              -                -                                                                                                                                      I.9       -                                                    -         -                                    -          -
                              Restricted for Financial & HR services (6600)                                                                                                                                                                                                       -              -              -                -                                                                                                                                      I.9       -                                                    -         -                                    -          -
                              Restricted for Accountablilty services (6700)                                                                                                                                                                                                       -              -              -                -                                                                                                                                      I.9       -                                                    -         -                                    -          -
                              Restricted for System-wide pupil support services (6800)                                                                                                                                                                                            -              -              -                -                                                                                                                                      I.9       -                                                    -         -                                    -          -
                              Restricted for Policy, leadership and public relations services (6900)                                                                                                                                                                              -              -              -                -                                                                                                                                      I.9       -                                                    -         -                                    -          -
                              Restricted for Ancillary services (7000)                                                                                                                                                                                                            -              -              -                -                                                                                                                                      I.9       -                                                    -         -                                    -          -
                              Restricted for Non-programmed charges (8000)                                                                                                                                                                                                        -              -              -                -                                                                                                                                      I.9       -                                                    -         -                                    -          -
                              Unrestricted                                                                                                                                                                                                                                        -              -              -                -                                                                                                                                      I.9   #VALUE!                                                  -    #VALUE!                              #VALUE!    #VALUE!

Operating Accounts - Revenues
    State revenues………………….………...(General)                                                                                                                                                                                                                                         -              -              -                -                                                 -                                                                                                                                                   -         -         -            -
    County revenues………………………….(General)                                                                                                                                                                                                                                           -              -              -                -                                                 -                                                                                                                                                   -         -         -            -
    U.S. Government………………...(Typically general)                                                                                                                                                                                                                                   -              -              -                -                                                 -                                                                                                                                                   -         -         -            -
    Investment earnings                                                                                                                                                                                                                                                           -              -              -                -                                                                                                                I.7           -                                                                      -         -         -            -
    Contributions and donations                                                                                                                                                                                                                                                   -              -              -                -                                                 -                                                                                                                                                   -         -         -            -
    Other                                                                                                                                                                                                                                                                         -              -              -                -                                                 -                                                                                                                                                   -         -         -            -
    Other revenue source #1                                                                                                                                                                                                                                                       -              -              -                -                                                 -                                                                                                                                                   -         -         -            -
    Other revenue source #2                                                                                                                                                                                                                                                       -              -              -                -                                                 -                                                                                                                                                   -         -         -            -
    Special item                                                                                                                                                                                                                                                                  -              -              -                -                                                 -                                                                                                                                                   -         -         -            -
    Extraordinary item                                                                                                                                                                                                                                                            -              -              -                -                                                 -                                                                                                                                                   -         -         -            -

 Regular Instructional Services (5100)
    Govt-wide




    Charges for Services                                                                                                                                                                                                                                                          -              -              -                -                                                                  -                                                                                                                                  -         -         -            -
    Operating Grants & Contributions                                                                                                                                                                                                                                              -              -              -                -                                                                  -                                                                   I.7           -                                                -         -         -            -
    Capital Grants & Contributions                                                                                                                                                                                                                                                -              -              -                -                                                                  -                                                                   I.7           -                                                -         -         -            -
 Special Populations Services (5200)
    Govt-wide




    Charges for Services                                                                                                                                                                                                                                                          -              -              -                -                                                                  -                                                                                                                                  -         -         -            -
    Operating Grants & Contributions                                                                                                                                                                                                                                              -              -              -                -                                                                  -                                                                   I.7           -                                                -         -
    Capital Grants & Contributions                                                                                                                                                                                                                                                -              -              -                -                                                                  -                                                                   I.7           -                                                -         -         -            -
 Alternative Programs and Services (5300)
    Govt-wide




    Charges for Services                                                                                                                                                                                                                                                          -              -              -                -                                                                  -                                                                                                                                  -         -         -            -
    Operating Grants & Contributions                                                                                                                                                                                                                                              -              -              -                -                                                                  -                                                                   I.7           -                                                -         -
    Capital Grants & Contributions                                                                                                                                                                                                                                                -              -              -                -                                                                  -                                                                   I.7           -                                                -         -         -            -
 School Leadership Services (5400)
    Govt-wide




    Charges for Services                                                                                                                                                                                                                                                          -              -              -                -                                                                  -                                                                                                                                  -         -         -            -
    Operating Grants & Contributions                                                                                                                                                                                                                                              -              -              -                -                                                                  -                                                                   I.7           -                                                -         -
    Capital Grants & Contributions                                                                                                                                                                                                                                                -              -              -                -                                                                  -                                                                   I.7           -                                                -         -         -            -
 Co-Curricular Services (5500)
    Govt-wide




    Charges for Services                                                                                                                                                                                                                                                          -              -              -                -                                                                  -                                                                                                                                  -         -         -            -
    Operating Grants & Contributions                                                                                                                                                                                                                                              -              -              -                -                                                                  -                                                                   I.7           -                                                -         -
    Capital Grants & Contributions                                                                                                                                                                                                                                                -              -              -                -                                                                  -                                                                   I.7           -                                                -         -         -            -
 School-Based Support Services (5800)
    Govt-wide




    Charges for Services                                                                                                                                                                                                                                                          -              -              -                -                                                                  -                                                                                                                                  -         -         -            -
    Operating Grants & Contributions                                                                                                                                                                                                                                              -              -              -                -                                                                  -                                                                   I.7           -                                                -         -
    Capital Grants & Contributions                                                                                                                                                                                                                                                -              -              -                -                                                                  -                                                                   I.7           -                                                -         -         -            -
 Support and Development Services (6100)
    Govt-wide




    Charges for Services                                                                                                                                                                                                                                                          -              -              -                -                                                                  -                                                                                                                                  -         -         -            -
    Operating Grants & Contributions                                                                                                                                                                                                                                              -              -              -                -                                                                  -                                                                   I.7           -                                                -         -
    Capital Grants & Contributions                                                                                                                                                                                                                                                -              -              -                -                                                                  -                                                                   I.7           -                                                -         -         -            -
 Special Population Support and Development Services (6200)
    Govt-wide




    Charges for Services                                                                                                                                                                                                                                                          -              -              -                -                                                                  -                                                                                                                                  -         -         -            -
    Operating Grants & Contributions                                                                                                                                                                                                                                              -              -              -                -                                                                  -                                                                   I.7           -                                                -         -
    Capital Grants & Contributions                                                                                                                                                                                                                                                -              -              -                -                                                                  -                                                                   I.7           -                                                -         -         -            -
 Alternative Progrms and Services Support and Development Services (6300)
    Govt-wide




    Charges for Services                                                                                                                                                                                                                                                          -              -              -                -                                                                  -                                                                                                                                  -         -         -            -
    Operating Grants & Contributions                                                                                                                                                                                                                                              -              -              -                -                                                                  -                                                                   I.7           -                                                -         -
    Capital Grants & Contributions                                                                                                                                                                                                                                                -              -              -                -                                                                  -                                                                   I.7           -                                                -         -         -            -
 Technology Support Services (6400)
    Govt-wide




    Charges for Services                                                                                                                                                                                                                                                          -              -              -                -                                                                  -                                                                                                                                  -         -         -            -
    Operating Grants & Contributions                                                                                                                                                                                                                                              -              -              -                -                                                                  -                                                                   I.7           -                                                -         -
    Capital Grants & Contributions                                                                                                                                                                                                                                                -              -              -                -                                                                  -                                                                   I.7           -                                                -         -         -            -
 Operational Support Services (6500)
    Govt-wide




   Charges for Services                                                                                                                                                                                                                                                           -              -              -                -                                                                  -                                             I.5           -                                                                      -         -         -            -
   Operating Grants & Contributions                                                                                                                                                                                                                                               -              -              -                -                                                                  -                                                                   I.7           -                                                -         -
   Capital Grants & Contributions                                                                                                                                                                                                                                                 -              -              -                -                                                                  -                                                                   I.7           -                                                -         -         -            -
 Financial and Human Resource Services (6600)
    Govt-wide




    Charges for Services                                                                                                                                                                                                                                                          -              -              -                -                                                                  -                                                                                                                                  -         -         -            -
    Operating Grants & Contributions                                                                                                                                                                                                                                              -              -              -                -                                                                  -                                                                   I.7           -                                                -         -
    Capital Grants & Contributions                                                                                                                                                                                                                                                -              -              -                -                                                                  -                                                                   I.7           -                                                -         -         -            -
 Accountability Services (6700)
    Govt-wide




    Charges for Services                                                                                                                                                                                                                                                          -              -              -                -                                                                  -                                                                                                                                  -         -         -            -
    Operating Grants & Contributions                                                                                                                                                                                                                                              -              -              -                -                                                                  -                                                                   I.7           -                                                -         -
    Capital Grants & Contributions                                                                                                                                                                                                                                                -              -              -                -                                                                  -                                                                   I.7           -                                                -         -         -            -
 System-Wide Pupil Relations Services (6800)
    Govt-wide




    Charges for Services                                                                                                                                                                                                                                                          -              -              -                -                                                                  -                                                                                                                                  -         -         -            -
    Operating Grants & Contributions                                                                                                                                                                                                                                              -              -              -                -                                                                  -                                                                   I.7           -                                                -         -


                                            9a7ec0c4-de43-41f7-981d-7d8e04bccc6c.xls
                            1/6/2011                                                                                                                                                                                                                  Carolina County Board of Education                                                                                                                                                                                                                                                                      Page 5 of 33
                                                                                                                                                                                                                                                       GASB 34 Conversion Worksheet
                                                                                                                                                                                                                               to prepare the Government-wide Statements - (including adjustments and consolidations)




                                                                       Notes 1 & 2 --- Data is entered                                                                                  Notes 1 & 2 --- Data is entered                               Appears in one column on    Grand total of major and           Note 4: Entry from Worksheet Note 4: Entry from                Note 5: Conversion and annual accruals       Note 6: Reclassifications, eliminations, and Notes 1 & 2 - Data is entered
              Accounts in tan have multiple                                                                                                                                                                                                           the gov't funds statement   nonmajor funds - computed field   Beginning Capital Assets & LTD           Worksheet A                   Entries from Worksheets B to H           consolidation entries - Worksheet I                Entries must balance.

              lines to which entries are posted.                                                                       Major Funds                                                                       Non-major Governmental Funds                                                     Total                           Capital Assets and                                                                                            Reclassifications and                                                                            Statement of                  Statement of
  Govt-wide




                                                                                 General                 State Public School Individual Schools   Capital Outlay Fund   Other Fund #1       Federal Grants Fund      Other Fund #2    Other Fund #3    Subtotal Non-Major           Governmental Funds                 Long-term Debt Accounts                                                 Conversion Entries                           Eliminations                              Manual Entries                 Working Column       Activities                    Net Assets
                           Description                                      Dr              Cr              Dr          Cr       Dr       Cr        Dr           Cr      Dr       Cr          Dr             Cr       Dr        Cr    Dr       Cr        Dr         Cr                Dr          Cr                       Dr             Cr              Dr               Cr        Ref        Dr        Ref     Cr             Ref       Dr       Ref     Cr                           Dr                    Cr    Dr          Cr     Dr           Cr               Dr          Cr
              Capital Grants & Contributions                                                                                                                                                                                                                  -              -              -                -                                                                  -                                                                       I.7           -                                                  -        -          -            -
 Policy, Leadership and Public Relations Services (6900)
  Govt-wide




    Charges for Services                                                                                                                                                                                                                                      -              -              -                -                                                                  -                                                                                                                                        -        -          -            -
    Operating Grants & Contributions                                                                                                                                                                                                                          -              -              -                -                                                                  -                                                                       I.7           -                                                  -        -
    Capital Grants & Contributions                                                                                                                                                                                                                            -              -              -                -                                                                  -                                                                       I.7           -                                                  -        -          -            -
 Ancillary Services (7000)
  Govt-wide




   Charges for Services                                                                                                                                                                                                                                       -              -              -                -                                                                  -                                                                                                                                        -        -          -            -
   Operating Grants & Contributions                                                                                                                                                                                                                           -              -              -                -                                                                  -                                                                       I.7           -                                                  -        -
   Capital Grants & Contributions                                                                                                                                                                                                                             -              -              -                -                                                                  -                                                                       I.7           -                                                  -        -          -            -
 Non-programmed Charges (8000)
  Govt-wide




   Charges for Services                                                                                                                                                                                                                                       -              -              -                -                                                                  -                                                                                                                                        -        -          -            -
   Operating Grants & Contributions                                                                                                                                                                                                                           -              -              -                -                                                                  -                                                                       I.7           -                                                  -        -
   Capital Grants & Contributions                                                                                                                                                                                                                             -              -              -                -                                                                  -                                                                       I.7           -                                                  -        -          -            -
 General revenues
   Unrestricted County appropriations - operating                                                                                                                                                                                                             -              -              -                -                                                                  -                                                                                                                                        -        -          -            -
   Unrestricted County appropriations - capital                                                                                                                                                                                                               -              -              -                -                                                                  -                                                                                                                                        -        -          -            -
   Unrestricted State grants - operating                                                                                                                                                                                                                      -              -              -                -                                                                  -                                                                                                                                        -        -          -            -
   Unrestricted State grants - capital                                                                                                                                                                                                                        -              -              -                -                                                                  -                                                                                                                                        -        -          -            -
   Unrestricted Federal grants                                                                                                                                                                                                                                -              -              -                -                                                                  -                                                                                                                                        -        -          -            -
   Miscellaneous - other                                                                                                                                                                                                                                      -              -              -                -                                                                  -    D.1            -          C.3           -                                                                                           -        -          -            -
                                                                                                                                                                                                                                                              -              -              -                -                                                                                                 D.1           -                          I.8           -                                                  -        -
              Miscellaneous - interest earnings                                                                                                                                                                                                               -              -              -                -                                                                  -    G.1            -          G.1           -                                                                                           -        -          -            -


Operating Accounts - Expenditures
 Regular Instructional Services (5100)                                                                                                                                                                                                                        -              -              -                -                                                                       B.1            -          C.1           -    I.7           -                                                                        -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       C.2            -          G.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       D.1            -          H.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       H.1            -          E.1           -                                                                                           -        -
 Special Populations Services (5200)                                                                                                                                                                                                                          -              -              -                -                                                                       B.1            -          C.1           -    I.7           -                                                                        -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       H.1            -          G.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       C.2            -          H.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       D.1            -          E.1           -                                                                                           -        -
 Alternative Programs and Services (5300)                                                                                                                                                                                                                     -              -              -                -                                                                       B.1            -          C.1           -    I.7           -                                                                        -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       H.1            -          G.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       C.2            -          H.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       D.1            -          E.1           -                                                                                           -        -
 School Leadership Services (5400)                                                                                                                                                                                                                            -              -              -                -                                                                       B.1            -          C.1           -    I.7           -                                                                        -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       H.1            -          G.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       C.2            -          H.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       D.1            -          E.1           -                                                                                           -        -
 Co-Curricular Services (5500)                                                                                                                                                                                                                                -              -              -                -                                                                       B.1            -          C.1           -    I.7           -                                                                        -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       H.1            -          G.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       C.2            -          H.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       D.1            -          E.1           -                                                                                           -        -
 School-Based Support Services (5800)                                                                                                                                                                                                                         -              -              -                -                                                                       B.1            -          C.1           -    I.7           -                                                                        -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       H.1            -          G.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       C.2            -          H.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       D.1            -          E.1           -                                                                                           -        -
 Support and Development Services (6100)                                                                                                                                                                                                                      -              -              -                -                                                                       B.1            -          C.1           -    I.7           -                                                                        -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       H.1            -          G.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       C.2            -          H.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       D.1            -          E.1           -                                                                                           -        -
 Special Population Support and Development Services (6200)                                                                                                                                                                                                   -              -              -                -                                                                       B.1            -          C.1           -    I.7           -                                                                        -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       H.1            -          G.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       C.2            -          H.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       D.1            -          E.1           -                                                                                           -        -
 Alternative Programs and Services Support and Development Services (6300)                                                                                                                                                                                    -              -              -                -                                                                       B.1            -          C.1           -    I.7           -                                                                        -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       H.1            -          G.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       C.2            -          H.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       D.1            -          E.1           -                                                                                           -        -
 Technology Support Services (6400)                                                                                                                                                                                                                           -              -              -                -                                                                       B.1            -          C.1           -    I.7           -                                                                        -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       H.1            -          G.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       C.2            -          H.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       D.1            -          E.1           -                                                                                           -        -
 Operational Support Services (6500)                                                                                                                                                                                                                          -              -              -                -                                                                       B.1        -              C.1           -    I.7           -       I.5           -                                                  -        -   #VALUE!    #VALUE!
                                                                                                                                                                                                                                                              -              -              -                -                                                                       C.2        -              G.1           -    I.8           -                                                                        -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       D.1    #VALUE!            H.1           -                                                                                      #VALUE!       -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       H.1        -              E.1           -                                                                                           -        -
 Financial and Human Resource Services (6600)                                                                                                                                                                                                                 -              -              -                -                                                                       B.1            -          C.1           -    I.7           -                                                                        -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       C.2            -          G.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       D.1            -          H.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       H.1            -          E.1           -                                                                                           -        -
 Accountability Services (6700)                                                                                                                                                                                                                               -              -              -                -                                                                       B.1            -          C.1           -    I.7           -                                                                        -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       C.2            -          G.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       D.1            -          H.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       H.1            -          E.1           -                                                                                           -        -
 System-Wide Pupil Support Services (6800)                                                                    -                                                                                                                                               -              -              -                -                                                                       B.1            -          C.1           -    I.7           -                                                                        -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       C.2            -          G.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       D.1            -          H.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       H.1            -          E.1           -                                                                                           -        -
 Policy, Leadership and Public Relations Services (6900)                                                      -                                                                                                                                               -              -              -                -                                                                       B.1            -          C.1           -    I.7           -                                                                        -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       H.1            -          G.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       C.2            -          H.1           -                                                                                           -        -
                                                                                                                                                                                                                                                              -              -              -                -                                                                       D.1            -          E.1           -                                                                                           -        -
 Ancillary Services (7000)                                                                                                                                                                                                                                    -              -              -                -                                                                       B.1            -          C.1           -    I.7           -                                                                        -        -

                            9a7ec0c4-de43-41f7-981d-7d8e04bccc6c.xls
                    1/6/2011                                                                                                                                                                                                                        Carolina County Board of Education                                                                                                                                                                                                                                                                         Page 6 of 33
                                                                                                                                                                                                                                                     GASB 34 Conversion Worksheet
                                                                                                                                                                                                                                to prepare the Government-wide Statements - (including adjustments and consolidations)




                                                                     Notes 1 & 2 --- Data is entered                                                                                  Notes 1 & 2 --- Data is entered                                Appears in one column on    Grand total of major and           Note 4: Entry from Worksheet Note 4: Entry from                Note 5: Conversion and annual accruals       Note 6: Reclassifications, eliminations, and Notes 1 & 2 - Data is entered
     Accounts in tan have multiple                                                                                                                                                                                                                   the gov't funds statement   nonmajor funds - computed field   Beginning Capital Assets & LTD           Worksheet A                   Entries from Worksheets B to H           consolidation entries - Worksheet I                Entries must balance.

     lines to which entries are posted.                                                                              Major Funds                                                                       Non-major Governmental Funds                                                      Total                           Capital Assets and                                                                                            Reclassifications and                                                                              Statement of                  Statement of
                                                                                General                State Public School Individual Schools   Capital Outlay Fund   Other Fund #1       Federal Grants Fund      Other Fund #2    Other Fund #3     Subtotal Non-Major           Governmental Funds                 Long-term Debt Accounts                                                 Conversion Entries                           Eliminations                              Manual Entries                 Working Column         Activities                    Net Assets
                   Description                                            Dr              Cr              Dr          Cr       Dr       Cr        Dr           Cr      Dr       Cr          Dr             Cr       Dr        Cr    Dr       Cr         Dr         Cr                Dr          Cr                       Dr             Cr              Dr               Cr        Ref        Dr        Ref     Cr             Ref       Dr       Ref     Cr                           Dr                    Cr    Dr          Cr       Dr           Cr               Dr          Cr
                                                                                                                                                                                                                                                             -              -              -                -                                                                       H.1            -          G.1           -                                                                                           -         -
                                                                                                                                                                                                                                                             -              -              -                -                                                                       C.2            -          H.1           -                                                                                           -         -
                                                                                                                                                                                                                                                             -              -              -                -                                                                       D.1            -          E.1           -                                                                                           -         -
  Non-programmed charges (all 8000, except 8300 & 8400)                                                                                                                                                                                                      -              -              -                -                                                                       B.1            -          C.1           -    I.7           -       I.5           -                                                  -         -
                                                                                                                                                                                                                                                             -              -              -                -                                                                       H.1            -          G.1           -                                                                                           -         -
                                                                                                                                                                                                                                                             -              -              -                -                                                                       C.2            -          H.1           -                                                                                           -         -
                                                                                                                                                                                                                                                             -              -              -                -                                                                       D.1            -          E.1           -                                                                                           -         -

  Capital Outlay (9000)
    Real property and buildings (Category 1), (old 9100)                                                                                                                                                                                                     -              -              -                -                                                                                                 C.1           -                                                                                           -         -
                                                                                                                                                                                                                                                             -              -              -                -                                                                                                 C.2           -                                                                                           -         -
     Furniture and equipment (Category 2), (old 9200)                                                                                                                                                                                                        -              -              -                -                                                                                                 C.1           -                                                                                           -         -
                                                                                                                                                                                                                                                             -              -              -                -                                                                                                 C.2           -                                                                                           -         -
     Buses and motor vehicles (Category 3), (old 9300)                                                                                                                                                                                                       -              -              -                -                                                                                                 C.1           -                                                                                           -         -
                                                                                                                                                                                                                                                             -              -              -                -                                                                                                 C.2           -                                                                                           -         -
  Debt Service (8300)
    Principal retirement                                                                                                                                                                                                                                     -              -              -                -                                                                       C.2            -          E.2           -                                                                                           -         -
                                                                                                                                                                                                                                                             -              -              -                -                                                                       E.1            -                                                                                                                    -         -
     Interest and fees                                                                                                                                                                                                                                       -              -              -                -                                                                       E.4            -          E.4           -                          I.7           -                                                  -         -
                                                                                                                                                                                                                                                             -              -              -                -                                                                       E.1            -                                                                                                                    -         -
                                                                                                                                                                                                                                                             -              -              -                -                                                                       C.2            -                                                                                                                    -         -
  Unallocated depreciation                                                                                                                                                                                                                                   -              -              -                -                                                                       B.1            -                                                                                                                    -         -           -            -

Other financing sources (uses)
     OFS - Transfers in (4920)                                                                                                                                                                                                                               -              -              -                -                                                                                                 C.3           -    I.1           -                                                                        -         -           -            -
     OFU - Transfers out (8400)                                                                                                                                                                                                                              -              -              -                -                                                                       D.1            -                                                   I.1           -                                                  -         -           -            -
     OFS - Proceeds from lease purchases/installment purchases (4850)                                                                                                                                                                                        -              -              -                -                                                                       F.1            -                                                                                                                    -         -           -            -
     OFS - Proceeds from guaranteed energy savings contracts (4860)                                                                                                                                                                                          -              -              -                -                                                                       F.1            -                                                                                                                    -         -           -            -
     OFS - Proceeds from bond and note proceeds (4810)                                                                                                                                                                                                       -              -              -                -                                                                       F.1            -                                                                                                                    -         -           -            -
     OFS - Proceeds from county installment purchases (4811)                                                                                                                                                                                                 -              -              -                -                                                                       F.1            -                                                                                                                    -         -           -            -
     OFS - Sale of capital assets (4820)                                                                                                                                                                                                                     -              -              -                -                                                                       D.1            -                                                                                                                    -         -           -            -
     OFS- Insurance recovery                                                                                                                                                                                                                                 -              -              -                -                                                                  -                              D.1           -                                                                                           -         -           -            -
     Change in reserve for prepaid expenses                                                                                                                                                                                                                  -              -              -                -                                                                       G.1            -                                                                                                                    -         -           -            -
     Change in reserve for inventories                                                                                                                                                                                                                       -              -              -                -                                                                       G.1            -                                                                                                                    -         -           -            -

Special and extraordinary items
     Special item - expenditure                                                                                                                                                                                                                              -              -              -                -                                                                       H.1            -                                                                                                                    -         -           -            -
     Extraordinary item - expenditure                                                                                                                                                                                                                        -              -              -                -                                                                       H.1            -                                                                                                                    -         -           -            -
                                                                                                                                                                                                                                                             -              -              -                -                                                                       D.1            -                                                                                                                    -         -
     Special item - revenue                                                                                                                                                                                                                                  -              -              -                -                                                                  -                              D.1           -                                                                                           -         -           -            -
                                                                                                                                                                                                                                                             -              -              -                -                                                                                                 C.3           -                                                                                           -         -
     Extraordinary item - revenue                                                                                                                                                                                                                            -              -              -                -                                                                  -                              D.1           -                                                                                           -         -           -            -
                                                                                                                                                                                                                                                             -              -              -                -                                                                                                                                                                                                           -         -
        Subtotal                                                               -               -            -         -         -        -           -          -       -        -                   -                  -   -   -      -        -            -              -              -                -                   -            -                -                -           #VALUE!                          -          #VALUE!               #VALUE!                                   -      #    #VALUE!   #VALUE!   #VALUE!    #VALUE!           #VALUE!    #VALUE!
                                                                               -                            -                   -                    -                  -                            -                      -          -                     -                             -                                    -                             -                            #VALUE!                                     #VALUE!                                                         -           #VALUE!                                          #VALUE!
          Change in Net Assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         #VALUE!    #VALUE!

          Total                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        #VALUE!    #VALUE!
                                                                                                                                                                                                                                                                                                                                                                                           #VALUE!                                                                                                                                     #VALUE!
                                                                                                                                                                                                                                                                                           -

Notes:
 Pre-closing trial balance entered at the function level for each governmental fund (for the fund balance number - use ending fund balance from prior year).
 Preliminary judgment made on which funds are major and which are non-major before conversion worksheet is done. Reconfirmed if any adjusting entries are made.
 Capital Assets & Long-term Debt accounts are those previously carried in the General Fixed Asset Account Group (GFAAG) and the General Long Term Debt Account Group (GLTDAG) plus the respective accumulated depreciation
 and the category of infrastructure (according to the phased implementation rules of GASB 34). The amounts recorded should be the beginning balances for the year. Current year activity will be recorded in a later step.
 Revenues are reclassified from the summary levels in the fund statements to the classification required for the Statement of Activities in Worksheet A.2.
  Conversion entries to convert from modified accrual to full accrual are generated from the worksheets B through J.
  Reclassification, elimination and consolidation entries are in worksheet I.




                    9a7ec0c4-de43-41f7-981d-7d8e04bccc6c.xls
                                                                                                                                  Beginning CA LTD


                                      Beginning Capital Assets and Long-Term Debt
     Capital assets and long-term debt is reported in the government-wide Statement of Net Assets. During the fiscal year, they are accounted
     for in the General Fixed Asset account and the General Long-term Debt account. The beginning of year's balances for these accounts must
     be recorded in the proper asset classes and debt accounts with an offsetting entry to fund balance. Current year activity for these accounts
     will be handled in subsequent entries. Depreciation expense should be calculated for the capital assets. Typically, straight line depreciation
     is used although other more complicated methods are allowed. Depreciation expense is not calculated for land or construction in progress.
     The journal entry created from this worksheet will post into columns Y and Z (Capital assets and Long-term Debt accounts) on the
     Conversion worksheet.

     1. Identify the beginning capital asset amounts with the associated accumulated depreciation in section A. below. If depreciation is
        not known, it must be calculated based on the life of the asset(s).
     2. Identify the beginning long-term debt amounts in section B. below.
     3. The data provided in sections A. and B. will provide the information to create the proper entry for the conversion worksheet.



     From the fixed asset system or other financial records, determine the amount of capital assets in the following categories that
A.   must be added to the government-wide statements: (Beginning balance for the year)

       Asset classes and accumulated depreciation:                 Amount           Amount
       Land
       Construction in progress
       Buildings
       Accum. Depreciation - Buildings
       Equipment and Furniture
       Accum. Depreciation - Equipment and Furniture
       Vehicles & Motorized Equipment
       Accum. Depreciation - Vehicles & Mot. Equipment
       Library Books
       Accum. Depreciation - Library Books
       Computer equipment
       Accum Depreciation Computer equipment
       Other Asset Class 2
       Accum Depreciation Other Asset Class 2

            Total capital assets to be reclassified            $            -   $          -         $          -



     From the debt records or other financial records, determine the amount of long-term debt in the following categories that must be
B.   added to the government-wide statements: (Beginning balance for the year.)

       Long-term debt accounts:                                    Amount
       Least Purchase/Installment purchases
       Guaranteed energy savings contract
       Liabilities payable from restricted assets
       Loans and notes payable
       Other postemployment benefits *
       Compensated absences payable
       Claims and judgments
       Other long-term liability #1                                                                 * Please note that this OPEB line is only
       Other long-term liability #2                                                                 relevant if your LEA offers additional benefits
                                                                                                    to the Healthcare Benefits required by
            Total capital assets to be reclassified            $            -                       State law.




                                                                                                                                                      7
                                                                                                                      Beginning CA LTD


                                      Beginning Capital Assets and Long-Term Debt

C.   Journal entry for conversion worksheet to add capital assets and long-term debt to government-wide statements:

                                                                            Debit            Credit
       Land                                                                         -
       Construction in progress                                                     -
       Buildings                                                                    -
       Accum. Depreciation - Buildings                                                                -
       Equipment and Furniture                                                      -
       Accum. Depreciation - Equipment and Furniture                                                  -
       Vehicles & Motorized Equipment                                               -
       Accum. Depreciation - Vehicles & Mot. Equipment                                                -
       Library Books                                                                -
       Accum. Depreciation - Library Books                                                            -
       Computer equipment                                                           -
       Accum Depreciation Computer equipment                                                          -
       Other Asset Class 2                                                          -
       Accum Depreciation Other Asset Class 2                                                         -
       Fund Equity - Beginning                                                                        -
                                                                   -                -                 -

       Lease Purchase/Installment purchases                                                           -
       Guaranteed energy savings contract                                                             -
       Liabilities payable from restricted assets                                                     -
       Loans and notes payable                                                                        -
       Other postemployment benefits                                                                  -
       Compensated absences payable                                                                   -
       Claims and judgments                                                                           -
       Other long-term liability #1                                                                   -
       Other long-term liability #2                                                                   -
       Fund Equity - Beginning                                                      -
                                                                   -                -                 -




                                                                                                                                    8
                                                         Revenue Reclassification by Function
     Revenues must be reclassified for presentation on the Statement of Activities to report revenues either by function (program) or as general revenue. Most of the
     appropriations from the county will be classified as general revenue. Most of the revenues in the State Public School Fund and Federal Grants Fund will be classified
     as program specific revenues. The program revenues will be grouped into three categories; charges for services, operating grants and contributions, and capital
     grants and contributions. In order for grants or contributions to be classified as capital in nature, the unit must own the asset. Grants that can be considered either
     operating or capital are classified as operating grants.
     1.   See Memo # 973 for the proper classification of revenue sources to operating, capital, charges for service, or general revenue.
     2.   Examine the trial balance and the LEA Revenue Allocation worksheet sorting revenues by function and by source code to determine which revenue items need
          to be reclassified. The LEA Revenue Allocation worksheet to assist you with this entry is available at the Treasurer's website.
     3.   Complete section A below indicating the amount of revenue in all governmental funds by the revenue category used in the fund statements. Note that items that
          are classified as special or extraordinary at the fund level may not always be classified as such when viewed at the government-wide level. Investment earnings
          at the fund level will not be reclassified. The amounts entered in Section A will be reversed in the entry created in Section C.
     4.   Complete section B of the worksheet indicating the functional and categorical reclassifications of the amounts in Section A, then the entry required for the
          Conversion worksheet will be created in Section C. Any items that qualify for the definitions of special items or extraordinary items should be reported
          separately in order to be properly reported on the Statement of Activities. See definitions in the comment fields - place cursor over the field with a red triangle in
          the corner. The total of Section B must equal the total of Section A.
     5.   The journal entry will reverse the original entry in the trial balance and credit an entry by function and revenue category. It is posted only to the conversion
          worksheet, not to the general ledger or accounting system.
     6.   As previously stated, revenues that result in the ownership of a fixed asset are classified as capital. If no capital asset results, the revenue should be classified
          as operating.


     From the fund financial statements, determine the amount in the following categories that must be reclassified. Also, include any items that were
     special or extraordinary items at the fund level that will be general revenues or functional revenue in the government-wide statements. If they will remain
A.   as a special or extraordinary item on the government-wide statements - no adjustment is necessary.

          Modified Accrual Revenue Class                                           Amount
          State revenues
          County revenues
          U.S. Government
          Contributions and donations
          Other
          Other revenue source #1
          Other revenue source #2
          Special item - fund statements
          Extraordinary item - fund statements

              Total revenue to be reclassified                        j        $         -


     From the financial records, indicate the appropriate program or general revenue classification to which the revenue should be reclassified.
B.   The total of Section B must agree to the total of Section A above.

                                                                                   Amount
          Regular Instructional Programs (5100)
             Charges for Services
             Operating Grants & Contributions
             Capital Grants & Contributions                                              -
          Special Populations Programs (5200)
              Charges for Services                                                       -
              Operating Grants & Contributions
              Capital Grants & Contributions                                             -
          Alternative Programs and Services (5300)
               Charges for Services                                                      -
               Operating Grants & Contributions
               Capital Grants & Contributions                                            -
          School Leadership Services (5400)
              Charges for Services                                                       -
              Operating Grants & Contributions                                           -
              Capital Grants & Contributions                                             -
          Co-Curricular Services (5500)
              Charges for Services                                                       -
              Operating Grants & Contributions                                           -
              Capital Grants & Contributions                                             -
          School Based Support Services (5800)
              Charges for Services
              Operating Grants & Contributions
              Capital Grants & Contributions                                             -




                                                                                                                                                                                   9
                                                           Revenue Reclassification by Function

         Support and Redevelopment Services (6100)
             Charges for Services
             Operating Grants & Contributions                                           -
             Capital Grants & Contributions                                             -
         Special Population Support & Development Services (6200)
             Charges for Services                                                       -
             Operating Grants & Contributions
             Capital Grants & Contributions                                             -
         Alternative Programs & Services Support & Develop. Services (6300)
              Charges for Services
              Operating Grants & Contributions
              Capital Grants & Contributions                                            -
         Technology support services (6400)
             Charges for Services
             Operating Grants & Contributions
             Capital Grants & Contributions                                             -
         Operational support services (6500)
            Charges for Services
            Operating Grants & Contributions
            Capital Grants & Contributions
         Financial & HR Services (6600)
             Charges for Services
             Operating Grants & Contributions
             Capital Grants & Contributions                                             -
         Accountablity Services (6700)
             Charges for Services
             Operating Grants & Contributions
             Capital Grants & Contributions
         System-wide Pupil Support Services (6800)
             Charges for Services
             Operating Grants & Contributions
             Capital Grants & Contributions
         Policy, Leadership & Public Relations Services (6900)
              Charges for Services
              Operating Grants & Contributions                                          -
              Capital Grants & Contributions                                            -
         Ancillary Services (7000)
             Charges for Services
             Operating Grants & Contributions
             Capital Grants & Contributions                                             -
         Non-programmed Charges (8000)
             Charges for Services
             Operating Grants & Contributions
             Capital Grants & Contributions                                             -
         General revenues
            Unrestricted County appropriations - operating
            Unrestricted County appropriations - capital
            Unrestricted State grants - operating
            Unrestricted State grants - capital
            Unrestricted Federal grants
            Miscellaneous - interest earnings
            Miscellaneous - other
         Special item - government-wide statements
         Extraordinary item - government-wide statements


              Total revenues to be reclassified                     j       $           -




C.   Journal entry for conversion worksheet to reclassify revenue to functional categories:

                                                                                                  Debit       Credit
     State revenues                                                                                       -
     County revenues                                                                                      -
     U.S. Government                                                                                      -
     Contributions and donations                                                                          -
     Other                                                                                                -
     Other revenue source #1                                                                              -
     Other revenue source #2                                                                              -
     Special item - fund statements                                                                       -
     Extraordinary item - fund statements                                                                 -

         Regular instructional (5100)              Charges for services                                                -
         Regular instructional (5100)              Operating grants and contributions                                  -
         Regular instructional (5100)              Capital grants and contributions                                    -

                                                                                                                           10
                                                Revenue Reclassification by Function

Special populations (5200)                Charges for services                                                                                      -
Special populations (5200)                Operating grants and contributions                                                                        -
Special populations (5200)                Capital grants and contributions                                                                          -
Alternative Programs (5300)               Charges for services                                                                                      -
Alternative Programs (5300)               Operating grants and contributions                                                                        -
Alternative Programs (5300)               Capital grants and contributions                                                                          -
School Leadership (5400)                  Charges for services                                                                                      -
School Leadership (5400)                  Operating grants and contributions                                                                        -
School Leadership (5400)                  Capital grants and contributions                                                                          -
Co-Curricular (5500)                      Charges for services                                                                                      -
Co-Curricular (5500)                      Operating grants and contributions                                                                        -
Co-Curricular (5500)                      Capital grants and contributions                                                                          -
School-Based support (5800)               Charges for services                                                                                      -
School-Based support (5800)               Operating grants and contributions                                                                        -
School-Based support (5800)               Capital grants and contributions                                                                          -
Support & development (6100)              Charges for services                                                                                      -
Support & development (6100)              Operating grants and contributions                                                                        -
Support & development (6100)              Capital grants and contributions                                                                          -
Special Pop. Sup. & Dev. (6200)           Charges for services                                                                                      -
Special Pop. Sup. & Dev. (6200)           Operating grants and contributions                                                                        -
Special Pop. Sup. & Dev. (6200)           Capital grants and contributions                                                                          -
Alternative prog. & services (6300)       Charges for services                                                                                      -
Alternative prog. & services (6300)       Operating grants and contributions                                                                        -
Alternative prog. & services (6300)       Capital grants and contributions                                                                          -
Technology support (6400)                 Charges for services                                                                                      -
Technology support (6400)                 Operating grants and contributions                                                                        -
Technology support (6400)                 Capital grants and contributions                                                                          -
Operational support (6500)                Charges for services                                                                                      -
Operational support (6500)                Operating grants and contributions                                                                        -
Operational support (6500)                Capital grants and contributions                                                                          -
Financial & HR (6600)                     Charges for services                                                                                      -
Financial & HR (6600)                     Operating grants and contributions                                                                        -
Financial & HR (6600)                     Capital grants and contributions                                                                          -
Accountablity (6700)                      Charges for services                                                                                      -
Accountablity (6700)                      Operating grants and contributions                                                                        -
Accountablity (6700)                      Capital grants and contributions                                                                          -
System-wide pupil support (6800)          Charges for services                                                                                      -
System-wide pupil support (6800)          Operating grants and contributions                                                                        -
System-wide pupil support (6800)          Capital grants and contributions                                                                          -
Policy, Leadership & PR (6900)            Charges for services                                                                                      -
Policy, Leadership & PR (6900)            Operating grants & contributions                                                                          -
Policy, Leadership & PR (6900)            Capital grants & contributions                                                                            -
Ancillary services (7000)                 Charges for services                                                                                      -
Ancillary services (7000)                 Operating grants and contributions                                                                        -
Ancillary services (7000)                 Capital grants and contributions                                                                          -
Non-programmed charges (8000)             Charges for services                                                                                      -
Non-programmed charges (8000)             Operating grants and contributions                                                                        -
Non-programmed charges (8000)             Capital grants and contributions                                                                          -
General revenues                       Unrestricted County appropriations - operating                                                               -
General revenues                       Unrestricted County appropriations - capital                                                                 -
General revenues                       Unrestricted State grants - operating                                                                        -
General revenues                       Unrestricted State grants - capital                                                                          -
General revenues                       Unrestricted Federal grants                                                                                  -
General revenues                       Miscellaneous - interest earnings                                                                            -
General revenues                       Miscellaneous - other                                                                                        -
Special item (revenue)                                                                                                                              -
Extraordinary item (revenue)                                                                                                                        -
                                                                                                                              -                     -



* Interest is typically a general revenue but if earned on investments legally restricted for a specific program it will follow the initial revenue source as in this
capital grant.

Note that any revenue items or other financing sources qualifying as "special" or "extraordinary" as defined by GASB 34 will have to be presented as such in the
General Revenue section of the Statement of Activities.




                                                                                                                                                                        11
                                                                                                                                                                    Entry B

                                                             Recording Depreciation Expense
Depreciation expense must be calculated and reported in relation to all of the unit's depreciable capital assets. For schools, many capital assets can not be specifically
identified with a function or program. Depreciation of these assets will be charged to a single line that indicates it is unallocated. See Memos #973 and #934 for a
discussion of depreciation. For those capital assets that can be specifically identified with a program, such as school buses, depreciation would be charged to that by
function/program on the Statement of Activities. Units may have a fixed asset software system that can easily calculate annual depreciation expense. If not, units will
need to calculate the expense manually. This function has previously been done for all the enterprise funds. It will now be expanded to governmental funds.

Please note that depreciation must be posted to the unit's permanent accounts in order to correctly reflect next year's beginning balances. Depreciation expense will not
affect the governmental fund statements but the annual amount will increment the accumulated depreciation figure for each asset class and should be recorded in the
fixed asset system or the records where the capital assets are posted.
    1. Identify assets by function and calculate the annual depreciation in section A below. For those items that are shared and no clear allocation method is available,
       place those figures into the unallocated depreciation line.
    2. Identify the proper asset class to which the depreciation should be recorded in section B below. The total amount must equal the total expense in Section A.
    3. The data provided in sections A and B will provide the information to create the proper entry for the conversion worksheet.


A. Indicate the annual depreciation expense by program/function:
    Annual depreciation expense by program/function:                           Amount
        Regular instructional services (5100)
        Special populations services (5200)
        Alternative programs and services (5300)
        School leadership services (5400)
        Co-curricular services (5500)
        School-based support services (5800)
        Support and development services (6100)
        Special population support and development services (6200)
        Alternative programs & services support & develop. ser. (6300)
        Technology support services (6400)
        Operational support services (6500)
        Financial & HR services (6600)
        Accountablilty services (6700)
        System-wide pupil support services (6800)
        Policy, leadership and public relations services (6900)
        Ancillary services (7000)
        Non-programmed charges (8000)
        Unallocated depreciation
                                                                        j             -


B. Indicate the appropriate asset class for the depreciation amount computed in section A above.
    Annual depreciation expense by asset class:                                Amount
        Buildings
        Furniture and Equipment
        Library Books
        Vehicles and motorized equipment
        Computer equipment
        Other Asset Class 2
                                                                        j             -


C. Entry for Conversion worksheet to record depreciation expense.              [Entry B.1]
                                                                                                                  Debit               Credit
B.1 Regular instructional services (5100)                                                                                 -
    Special populations services (5200)                                                                                   -
    Alternative programs and services (5300)                                                                              -
    School leadership services (5400)                                                                                     -
    Co-curricular services (5500)                                                                                         -
    School-based support services (5800)                                                                                  -
    Support and development services (6100)                                                                               -
    Special population support and development services (6200)                                                            -
    Alternative programs & services support & develop. ser. (6300)                                                        -
    Technology support services (6400)                                                                                    -
    Operational support services (6500)                                                                                   -
    Financial & HR services (6600)                                                                                        -
    Accountablilty services (6700)                                                                                        -
    System-wide pupil support services (6800)                                                                             -
    Policy, leadership and public relations services (6900)                                                               -
    Ancillary services (7000)                                                                                             -
    Non-programmed charges (8000)                                                                                         -
    Unallocated depreciation                                                                                              -
        Accumulated depreciation-      Buildings                                                                                               -
        Accumulated depreciation-      Equipment and Furniture                                                                                 -
        Accumulated depreciation-      Library Books                                                                                           -
        Accumulated depreciation-      Vehicles and motorized equipment                                                                        -
        Accumulated depreciation-      Computer equipment                                                                                      -
        Accumulated depreciation-      Other Asset Class 2                                                                                     -
                                                                                                                          -                    -

                                                                                                                                                                             12
                                                                                                                                                                                       Entry C

                                           Adjustments for Capital Outlay Expenditures and Donation of Capital Assets
   Expenditures recorded under the modified accrual basis of accounting for the purchase or construction of capital assets must be reported as additions to capital assets under the full accrual
   basis of accounting on the government-wide statements. These capital assets will be added in the conversion worksheet to the amounts previously recorded as of the beginning of the fiscal
   year when the Capital Assets were added to the conversion worksheet. Note that all expenditures for capital assets may not have been coded as capital outlay. Also be aware that some
   expenditures may fall below the capitalization threshold that the Governing Board has set for your unit. For example, if the unit has chosen $1,000 as the minimum for capitalization, then any
   items purchased under that amount must be reclassified as an expense of the appropriate program/function. Only those items above the unit's capitalization threshold would be adjusted and
   reported as capital assets in the government-wide statement of net assets.
   Please be aware that in addition to posting to the conversion worksheets, capital assets and depreciation must be added to the unit's permanent accounts for recording capital assets in order
   to have proper beginning balances for next year's statements.
   1. Review the various governmental funds and identify capital outlay expense that should be capitalized and recorded as capital assets. For expenditures from the Capital Outlay Fund it will
      be necessary to also indicate the expenditures that are not being capitalized. These expenditures must be allocated to other program/functions or to debt service because capital outlay
      functions are not programs. Accumulate these expenditures by program/function for entry to Section A.1 and A.2 below. Capitalized expenditures from Section A must equal capitalized
      assets by type in Section B. Uncapitalized expenditures from the capital outlay fund in Section A.1 must equal the allocation to functions/programs in Section C. Debt service expenditures
      will be reclassified in Worksheet E. They are included here to create totals that tie to your fund statements.
   2. The journal entry for the conversion worksheet, to reclassify these expenditures as capital assets, will be automatically created.
   3. Donations of assets and transfers in from an Enterprise fund are typically not recorded in the fund statements; however, this data would have been picked up previously in the capital asset
      note under additions. For reporting on the government-wide statements, the donations must be reported as revenue and as an increase to the specific asset account. The revenue amount
      will be reflected in "miscellaneous general revenues" for assets other than school buses. The revenue from the donation of school buses will be reflected as capital grant revenue for
      purpose code 6500 (Operational Support Services) The transfer in of capital assets from an Enterprise Fund must be reported as transfers. Enter these amounts in section D.
   What was the amount of expenditures from the Capital Outlay Fund, broken out between amounts to be capitalized, not to be capitalized and charged to debt service (must be
   reported as debt service on fund statements)? What are the expenditures from other programs/functions that should be capitalized? This includes expenditures related to
A. impairment losses.
   1. Expenditures as reported in the Capital Outlay Fund Statements:                     Capitalized                   Not Capitalized                  Debt Service                 Fund Total
         Category 1 projects (old 9100, real property)                                                                                                  XXXXXXXXXX                              -
         Category 2 projects (old 9200, furnishings and equipment)                                                                                      XXXXXXXXXX                              -
         Category 3 projects (old 9300, vehicles)                                                                                                       XXXXXXXXXX                              -
         Debt service (interest + principal) as reported on the fund statements        XXXXXXXXXX                        XXXXXXXXXX                                                             -
           Total Capital Outlay Fund Expenditures                                              -                    k            -                                 -                            -
   2. Expenditures from Other Funds to be capitalized:
      Regular instructional services (5100)                                                                              XXXXXXXXXX                     XXXXXXXXX                   XXXXXXXXXX
      Special populations services (5200)                                                                                XXXXXXXXXX                     XXXXXXXXX                   XXXXXXXXXX
      Alternative programs and services (5300)                                                                           XXXXXXXXXX                     XXXXXXXXX                   XXXXXXXXXX
      School leadership services (5400)                                                                                  XXXXXXXXXX                     XXXXXXXXX                   XXXXXXXXXX
      Co-curricular services (5500)                                                                                      XXXXXXXXXX                     XXXXXXXXX                   XXXXXXXXXX
      School-based support services (5800)                                                                               XXXXXXXXXX                     XXXXXXXXX                   XXXXXXXXXX
      Support and development services (6100)                                                                            XXXXXXXXXX                     XXXXXXXXX                   XXXXXXXXXX
      Special population support and development services (6200)                                                         XXXXXXXXXX                     XXXXXXXXX                   XXXXXXXXXX
      Alternative programs & services support & develop. ser. (6300)                                                     XXXXXXXXXX                     XXXXXXXXX                   XXXXXXXXXX
      Technology support services (6400)                                                                                 XXXXXXXXXX                     XXXXXXXXX                   XXXXXXXXXX
      Operational support services (6500)                                                                                XXXXXXXXXX                     XXXXXXXXX                   XXXXXXXXXX
      Financial & HR services (6600)                                                                                     XXXXXXXXXX                     XXXXXXXXX                   XXXXXXXXXX
      Accountablilty services (6700)                                                                                     XXXXXXXXXX                     XXXXXXXXX                   XXXXXXXXXX
      System-wide pupil support services (6800)                                                                          XXXXXXXXXX                     XXXXXXXXX                   XXXXXXXXXX
      Policy, leadership and public relations services (6900)                                                            XXXXXXXXXX                     XXXXXXXXX                   XXXXXXXXXX
      Ancillary services (7000)                                                                                          XXXXXXXXXX                     XXXXXXXXX                   XXXXXXXXXX
      Non-programmed charges (8000)                                                                                      XXXXXXXXXX                     XXXXXXXXX                   XXXXXXXXXX
           Total expenditures to be capitalized - All Govt Funds                   j                -                    XXXXXXXXXX                     XXXXXXXXX                   XXXXXXXXXX


B. What was the amount to be capitalized by asset class?
                                                                                           Amount
      Land
      Construction in progress
      Buildings                                                                                                         Any expenditures during the year on completed projects at year end should
      Library books                                                                                                     be recorded in the appropriate category rather than in construction in
      Furniture and equipment                                                                                           progress.
      Vehicles and motorized equipment
      Computer equipment
      Other Asset Class 2
                                                                                   j                -
C. How should the 'Not Capitlized' expenditures from Section A.1 be categorized? Expenditures from Category 1 projects and Category 3 projects that are not capitalized will be
   charged to Operational Support Services (6500) or debt service. Category 2 project expenditures that can be identified with a specific functional program will be charged to that
   function/program or to debt service. Any expenditures for debt service, including guaranteed savings contracts or capital leases payable, should be reclassified to either debt
   service - principle or debt service - interest, if not already reported as debt service in Section A.1 above. Those that cannot be identified with a specific functional program are
   considered replacement or maintenance of assets and should be charged to Operational Support Services (6500).
                                                                                        Category 1                    Category 2                    Category 3                    Total
      Debt service - principal                                                                                                                                                          -
      Debt service - interest                                                                                                                                                           -
      Regular instructional services (5100)                                           XXXXXXXXXX                                                  XXXXXXXXX                             -
      Special populations services (5200)                                             XXXXXXXXXX                                                  XXXXXXXXX                             -
      Alternative programs and services (5300)                                        XXXXXXXXXX                                                  XXXXXXXXX                             -
      School leadership services (5400)                                               XXXXXXXXXX                                                  XXXXXXXXX                             -
      Co-curricular services (5500)                                                   XXXXXXXXXX                                                  XXXXXXXXX                             -
      School-based support services (5800)                                            XXXXXXXXXX                                                  XXXXXXXXX                             -
      Support and development services (6100)                                         XXXXXXXXXX                                                  XXXXXXXXX                             -
      Special population support and development services (6200)                      XXXXXXXXXX                                                  XXXXXXXXX                             -
      Alternative programs & services support & develop. ser. (6300)                  XXXXXXXXXX                                                  XXXXXXXXX                             -
      Technology support services (6400)                                              XXXXXXXXXX                                                  XXXXXXXXX                             -
      Operational support services (6500)                                                                                                                                               -
      Financial & HR services (6600)                                                  XXXXXXXXXX                                                  XXXXXXXXX                             -
      Accountablilty services (6700)                                                  XXXXXXXXXX                                                  XXXXXXXXX                             -
      System-wide pupil support services (6800)                                       XXXXXXXXXX                                                  XXXXXXXXX                             -
      Policy, leadership and public relations services (6900)                         XXXXXXXXXX                                                  XXXXXXXXX                             -
      Ancillary services (7000)                                                       XXXXXXXXXX                                                  XXXXXXXXX                             -
      Non-programmed charges (8000)                                                   XXXXXXXXXX                                                  XXXXXXXXX                             -

         Total Expenditures from the Capital Outlay
         Fund that are not capitalized by category                                                  -                               -                              -           k               -
                                                                                                                                                                                              13
                                                                                                                                                                                                   Entry C

                                        Adjustments for Capital Outlay Expenditures and Donation of Capital Assets


D. Capital assets received by the unit as donations:
                                                                                                          Equipment                       Vehicles                               Other
                                                                                                             and                          and Mot.        Computer               Asset
   Donations of capital assets received by the unit:                     Land             Building         Furniture Library Books         Equip          equipment             Class 2               Total
   a. What is the fair value of the assets donated to the LEA?
      Enter the amounts in the appropriate asset class
      excluding replacement school buses financed via state
      appropriations.                                                                                                                            -                                                             -
   b. Indicate any amounts from step a. that would qualify as a special item.
   c. What is the net book value of any assets donated from or transferred in from                                                                       This amount will be classified as a "transfer in" for the
      the Enterprise Funds that are included in the amounts in step a.                                                                                  governmental activities column. It will be a reconciling
                                                                                                                                                        item on the fund statements.

   Journal entry for conversion worksheet to capitalize capital outlay expenditures [Entry C.1], and to allocate non-capitalized items from the Capital Outlay Fund to other
E. functions/programs [Entry C.2]
                                                                                                                                                              Debit                                  Credit
                                                      C.1         Land                                                                                                 -
                                                                  Construction in progress                                                                             -
                                                                  Buildings                                                                                            -
                                                                  Library books                                                                                        -
                                                                  Equipment and furniture                                                                              -
                                                                  Vehicles and motorized equipment                                                                     -
                                                                  Computer equipment                                                                                   -
                                                                  Other Asset Class 2                                                                                  -
                                                                                       Regular instructional services (5100)                                                                                   -
                                                                                       Special populations services (5200)                                                                                     -
                                                                                       Alternative programs and services (5300)                                                                                -
                                                                                       School leadership services (5400)                                                                                       -
                                                                                       Co-curricular services (5500)                                                                                           -
                                                                                       School-based support services (5800)                                                                                    -
                                                                                       Support and development services (6100)                                                                                 -
                                                                                       Special population support and development services (6200)                                                              -
                                                                                       Alternative programs & services support & develop. ser. (6300)                                                          -
                                                                                       Technology support services (6400)                                                                                      -
                                                                                       Operational support services (6500)                                                                                     -
                                                                                       Financial & HR services (6600)                                                                                          -
                                                                                       Accountablilty services (6700)                                                                                          -
                                                                                       System-wide pupil support services (6800)                                                                               -
                                                                                       Policy, leadership and public relations services (6900)                                                                 -
                                                                                       Ancillary services (7000)                                                                                               -
                                                                                       Non-programmed charges (8000)                                                                                           -
                                                                                       Category 1 projects (old 9100)                                                                                          -
                                                                                       Category 2 projects (old 9200)                                                                                          -
                                                                                       Category 3 projects (old 9300)                                                                                          -
                                                                                                                                                                       -                                       -

                                                      C.2         Debt service - principal                                                                             -
                                                                  Debt service - interest                                                                              -
                                                                  Regular instructional services (5100)                                                                -
                                                                  Special populations services (5200)                                                                  -
                                                                  Alternative programs and services (5300)                                                             -
                                                                  School leadership services (5400)                                                                    -
                                                                  Co-curricular services (5500)                                                                        -
                                                                  School-based support services (5800)                                                                 -
                                                                  Support and development services (6100)                                                              -
                                                                  Special population support and development services (6200)                                           -
                                                                  Alternative programs & services support & develop. ser. (6300)                                       -
                                                                  Technology support services (6400)                                                                   -
                                                                  Operational support services (6500)                                                                  -
                                                                  Financial & HR services (6600)                                                                       -
                                                                  Accountablilty services (6700)                                                                       -
                                                                  System-wide pupil support services (6800)                                                            -
                                                                  Policy, leadership and public relations services (6900)                                              -
                                                                  Ancillary services (7000)                                                                            -
                                                                  Non-programmed charges (8000)                                                                        -
                                                                         Category 1 projects (9100)                                                                                                            -
                                                                         Category 2 projects (9200)                                                                                                            -
                                                                         Category 3 projects (9300)                                                                                                            -
                                                                                                                                                                       -                                       -

                                                      C.3         Land                                                                                                 -
                                                                  Buildings                                                                                            -
                                                                  Equipment and Furniture                                                                              -
                                                                  Library Books                                                                                        -
                                                                  Vehicles & Motorized Equipment                                                                       -
                                                                  Computer equipment                                                                                   -
                                                                  Other Asset Class 2                                                                                  -
                                                                        Miscellaneous revenue                                                                                                                  -
                                                                        Special item - revenue                                                                                                                 -
                                                                        OFS - Transfer In                                                                                                                      -
                                                                                                                                                                       -                                       -




                                                                                                                                                                                                             14
                                                                                                                                                                                                                                         Entry D

                                                                                 Adjust Capital Asset Disposal Entries to Full Accrual

   Other transactions affecting capital assets must also be adjusted from their treatment under modified accrual to full accrual for the government-wide financial statements. This covers the disposal of assets such as the sales and
   trade-ins or the scrapping of fully depreciated assets. Please be aware that in addition to posting to the conversion worksheets, capital assets activity eventually must be added to the unit's permanent accounts for recording capital
   assets in order to have proper beginning balances for next year's statements. (Capital assets acquired through leases should have been recorded in the capital outlay worksheet; the debt side of the entry will be made later.)
   1. Review all governmental funds for sales of assets. For those items that meet the definition of a special item* enter the amounts by asset class for each question in section A.1. Typically there would not be more than one sale that
      qualified under the definition of special item. Enter the amounts under the proper asset class. Two "Other Asset" categories have been added for units that may maintain assets in different categories. If used, column labels
      should be consistent between worksheets and the trial balance.
   2. For those items sold that qualify as a regular sale of assets, enter the amounts by asset class for each question in section A.2. Under modified accrual the receipts from the sale would be classified as other financing sources -
      proceeds from sale of assets. Under full accrual, however we must calculate the gain or loss on the sale. The entry created adjusts the capital asset accounts, reverses the other financing source entry and records the resulting
      gain (or loss.) This entry assumes a gain; if a loss is material, it must be reclassified in Worksheet I.
   3. Trade-ins of equipment or vehicles should also be recorded and treated similarly to sales of assets. Any expenditure made as part of the trade-in transaction was recorded with the capital outlay entry. Now we must remove the
      old asset from the capital asset accounts and adjust the true cost of the newly acquired asset. Enter the amounts by asset class in section B of the worksheet below. For question d, please enter the net book value of the old
      asset in the cell for the asset class of the new asset, e.g. if a vehicle is traded for another vehicle then the amount would be placed in the field for the same asset class "vehicles"; however, if a vehicle is traded for equipment,
      place the amount in the asset class of the new asset "equipment". Trading across asset classes will be rare but the worksheet should accommodate the entry.
   4. Retiring/scrapping or donating assets is a matter of removing those amounts from the capital asset accounts including removing the relative accumulated depreciation. Enter amounts by asset class in section C below.
   5. If unit has combined figures for land and building cost that can not be separated, use the combined amount under the Building column.
   6. The work section of this worksheet following section D compiles the data for the final entries in section D. The work section is not defined in the initial print range but provides the components of the final entry. Print ranges can be
      modified if necessary.

A. Sale of assets:
                                                                                                                                      Furniture and                         Vehicles and       Computer          Other Asset
                                                                                                       Land          Building          Equipment         Library Books       Mot. Equip        equipment           Class 2             Total
   1. Sales that qualify as a "special item" for statement presentation:*
      a.   What is the original cost at the beginning of the year for an asset
           sold during current year?                                                                                                                                                                                                           -
      b.   What is the accumulated depreciation at the beginning of the year                            N/A
           for the asset sold in a. above?                                                                                                                                                                                                     -
                                                                                                                                                                                                                                               -
      c.   What is the depreciation expense for the current year up to the                              N/A
           date of sale for the asset above?                                                                                                                                                                                                   -
                      Net book value of capital assets sold                                                   -                   -                  -                  -                  -                 -                  -              -
           Indicate proceeds of sales as reported in fund
      d.   financial statements                                                                                                                                                                                                                -

                      Gain / loss qualifying as special item                                                  -                   -                  -                  -                  -                 -                  -                  -

           * Special item - Unusual in nature (possessing a high degree of abnormality and clearly unrelated to ordinary or typical activity) and infrequent in occurrence and subject to management control

                                                                                                                                      Furniture and                         Vehicles and       Computer          Other Asset
   2. Other sales of assets that do not qualify as special items:                                      Land          Building          Equipment         Library Books       Mot. Equip        equipment           Class 2             Total
      a. What is the original cost at the beginning of the year for assets
         sold during current year?                                                                                                                                                                                                             -
      b.   What is the accumulated depreciation at the beginning of the year                            N/A
           for the assets sold in a. above?                                                                                                                                                                                                    -
                                                                                                                                                                                                                                               -
      c.   What is the depreciation expense for the current year up to the                              N/A
           date of sale for the assets above?                                                                                                                                                                                                  -
                      Net book value of capital assets sold                                                   -               -                  -                  -                 -                  -                  -                  -
      d.   Indicate revenue account to which items were recorded?
                       Miscellaneous Revenue                                                                                                                                                                                                   -
                       Other financing source - sale of assets                                                                                                                                                                                 -

                      Gain / loss on sale of assets                                                           -               -                  -                  -                 -                  -                  -                  -
           Note: If the composite method is used for computing depreciation and useful life, no gain or loss should be recognized. The proceeds received upon the asset's removal reduces the amount that would have been charged to
           accumulated depreciation. For the case where the composite method is used, adjust accumulated depreciation such that gain/loss computes as zero ($0).

                                                                                                                                                                                                                                                   15
                                                                                                                                                                                                                                         Entry D

                                                                                  Adjust Capital Asset Disposal Entries to Full Accrual

B. Trade-in of capital assets.
                                                                                                                           Furniture and                           Vehicles and             Computer               Other Asset
      Trade-in of Capital assets:                                                                    Land       Building    Equipment       Library Books           Mot. Equip              equipment                Class 2            Total
      a. What is the original cost at the beginning of the year for assets
          traded in during current year?                                                                                                                                                                                                        -
      b.   What is the accumulated depreciation at the beginning of the year                          N/A
           for the assets traded in a. above?                                                                                                                                                                                                   -
                                                                                                                                                                                                                                                -
      c.   What is the depreciation expense for the current year up to the                            N/A
           date of trade-in for the asset above?                                                                                                                                                                                                -
                      Net book value of capital assets traded                                               -          -             -                     -                      -                      -                       -              -
      d.   Enter net book value of traded asset calculated above into the cell
           for the asset class for the newly acquired asset. (typically it will
           be the same asset class as the old asset but it may be a different
           class.)                                                                                                                                                                                                                              -


C. Retiring, scrapping and donating capital assets (with no proceeds):            j
                                                                                                                           Furniture and                           Vehicles and             Computer               Other Asset
      Retiring, scrapping or donating Capital assets:                                                Land       Building    Equipment       Library Books           Mot. Equip              equipment                Class 2            Total
      a. What is the original cost at the beginning of the year for assets traded,
          retired, scrapped or donated during current year?                                                                                                                                                                                     -
      b.   What is the accumulated depreciation at the beginning of the year for the
           assets disposed of in a. above?                                                            N/A                                                                                                                                       -
      c.   What is the depreciation expense for the current year up to the                            N/A
           date of disposal for the assets in step a. above?                                                                                                                                                                                    -
                      Loss on disposal of assets                                                                       -             -         #VALUE!                            -                      -                       -              -
      d.   Of any assets donated in step a. above, what is the net book value (cost
           less total accum. deprec. for all asset classes ) of any assets donated to                                                      This amount will be classified as a "transfer out" for the governmental activities column.
           the Enterprise Funds.                                                                                                           It should also be included as a reconciling item to the fund statements.
                        j If proceeds received then treat transaction as a sale and enter in section A. above




                                                                                                                                                                                                                                                    16
                                                                                                                                                                                                                                     Entry D

                                                                               Adjust Capital Asset Disposal Entries to Full Accrual

D. Compute and record asset impairment loss or gain per GASB Statement 42 for physical damage: (Asset must have been restored or be planned for restoration otherwise asset is written off.)
   The carrying value of an asset must be adjusted if its service utility has been significantly impaired. This example addresses the most common, physical damage. To meet the requirements of GASB 42 both of the following must be
   true: 1) magnitude of decline in service utility is significant; and 2) it is unexpected. This entry will calculate the capital asset impairment loss (or gain if an insurance recovery was received) when pysical damage occurs using the
   restoration cost approach. Within that approach, the damage ratio can be calculated by the replacment cost method or the deflator method depending on what information is known. If replacement cost in current dollars is not
   known, then the restoration cost can be deflated to the year of acquisition. Deflation factors can be computed if the inflation factor per year is known or obtained from the internet by using engineering construction indexes or the
   consumer price index and selecting factors for the date of acquisition of the impaired asset.
   Restoration expenditures or insurance recovery may occur in another fiscal year. In that case, the impairment loss is recorded in the year of the loss and the recovery would be recorded as as a gain (miscellaneous revenue or
   extrarodinary gain) depending on the magnitude of the amount.

   1. Assets physically damaged during the year from accidents or natural                                                           Furniture and                       Vehicles and        Computer         Other Asset
      causes which have been or are planned to be restored:                                           Land          Building         Equipment       Library Books       Mot. Equip         equipment          Class 2
       a. What is the original cost at the beginning of the year for assets physically
          damaged during current year?
       b. What is the accumulated depreciation at the beginning of the year for the                    N/A
          assets damaged in a. above?
       c. What is the depreciation expense for the current year up to the                              N/A
          date of the damage for the assets above?
                      Net book value of capital assets damaged                                               -              -                  -                  -                -
   2. What is (or was) the restoration cost ? (Amount would have been included in the
      capital outlay entry - Tab C - if spent in the same fiscal year.)
   3. Answer either a. or b. below, but not both - (either the replacement cost
      method or the deflation factor method is used to calculate loss.)
       a. What is the replacement cost for a new asset of the type damaged                                                             Restoration cost ratio
          in 1a. Above?                                                                                                               based on replacement cost
                                                                              either or
       b. What is the appropriate deflation factor to use if replacement cost                                                                                                               Restoration cost ratio
          is not known?                                                                                                     -         Deflated restoration cost                             based on deflation factor

   4. Impairment Loss Calculation                                                         3a. Replacement cost 0                                3.b Deflator method    0
       a. Indicate to which asset class the loss in 3a or 3b should be
          credited. Should be same class as that indicated in 1 above.
          Land
          Buildings
          Equipment and Furniture
          Library books
          Vehicles and Motorized Equipment
          Other asset class #1
          Other asset class #2

                                                                -

   5. Indicate insurance recovery amount if received in this fiscal year?
       a. Other financing source - insurance recovery

      b.              Net Gain / loss on insurance recovery                                                                 -




                                                                                                                                                                                                                                            17
                                                                                                                                     Entry D

                                                                             Adjust Capital Asset Disposal Entries to Full Accrual

D. Asset Impariment Loss - continued
   6. Based on the computation in 5.b above. Enter the gain or loss against the
      proper accounts below:
      a. If there is a net gain, is it an extraordinary gain or miscellaneous revenue?
          Can only be one, not both.
          Extraordinary gain
          Miscellaneous revenue

      b.   If there is a net loss, is it an extraordinary loss or a program expense?
           (GASB definition for extraordinary loss can be found in the authoritative
           literature.) Enter amount as negative number.
                        Extraordinary loss
                        Regular instructional services (5100)
                        Special populations services (5200)
                        Alternative programs and services (5300)
                        School leadership services (5400)
                        Co-curricular services (5500)
                        School-based support services (5800)
                        Support and development services (6100)
                        Special population support and development services (6200)
                        Alternative programs & services support & develop. ser. (6300)
                        Technology support services (6400)
                        Operational support services (6500)
                        Financial & HR services (6600)
                        Accountablilty services (6700)
                        System-wide pupil support services (6800)
                        Policy, leadership and public relations services (6900)
                        Ancillary services (7000)
                        Non-programmed charges (8000)

                                      Total for 6a and 6b above                                  -




                                                                                                                                          18
                                                                                                                                                                                                                              Entry D

                                                                                Adjust Capital Asset Disposal Entries to Full Accrual

E. Final Entry to Conversion Worksheet for sales, disposals and donations to the unit of capital assets: [Entry D.1 ]
                                                                                                            Debit                   Credit
          D.1        Accumulated depreciation-         Buildings                                                  -
                     Accumulated depreciation-         Furniture and Equipment                                    -
                     Accumulated depreciation-         Library books                                      #VALUE!
                     Accumulated depreciation-         Vehicles and motorized equipment                           -
                     Accumulated depreciation-         Computer equipment                                         -
                     Accumulated depreciation-         Other Asset Class 2                                        -
                     OFS - Sale of assets - other financing source                                                -
                     Miscellaneous revenue                                                                        -
                     Operational support services (6500)…….loss on disposal                               #VALUE!
                     OFS - Insurance recovery                                                                                                -
                     OFU - Transfer Out                                                                           -
                     Regular instructional services (5100)                                                        -
                     Special populations services (5200)                                                          -
                     Alternative programs and services (5300)                                                     -
                     School leadership services (5400)                                                            -
                     Co-curricular services (5500)                                                                -
                     School-based support services (5800)                                                         -
                     Support and development services (6100)                                                      -
                     Special population support and development services (6200)                                   -
                     Alternative programs & services support & develop. ser. (6300)                               -
                     Technology support services (6400)                                                           -
                     Operational support services (6500)                                                          -
                     Financial & HR services (6600)                                                               -
                     Accountablilty services (6700)                                                               -
                     System-wide pupil support services (6800)                                                    -
                     Policy, leadership and public relations services (6900)                                      -
                     Ancillary services (7000)                                                                    -
                     Non-programmed charges (8000)                                                                -
                         Land                                                                                     -                          -
                         Buildings                                                                                -                          -
                         Furniture and Equipment                                                                  -                          -
                         Library books                                                                            -                          -
                         Vehicles and motorized equipment                                                         -                          -
                         Computer equipment                                                                       -                          -
                         Other Asset Class 2                                                                      -                          -
                         Miscellaneous general revenue [gain (loss) on sale] k                                                               -
                         Special Item - gain (loss) on sale of asset l                                                                       -
                         Extraordinary gain/ioss                                                                  -                          -
                                                                                                          #VALUE!                            -

      k Sales of assets are assumed to generate gains which post to miscellaneous revenue. If losses result the number will be negative. Losses should be posted to the Operational Support Services function and will be reclassified
          if material during the final stages in tab I . Eliminations-Consolidations.
      l Special items are assumed to be gains and posted as such. If a loss results then the amount posted will be negative. Negative debits or credits will be properly handled in the main conversion worksheet.




                                                                                                                                                                                                                                     19
                                                                                                                                                     Entry E


                           Adjust Debt Service Expenditures Under Modified Accrual to Full Accrual
     Debt service under the modified accrual basis of accounting is treated as an expenditure. For the full accrual basis of accounting used on the government-
     wide statements, these debt service expenditures must be adjusted to report the reduction in the principal balance for the permanent liability accounts. Debt
     service that was not considered material in the fund statements and recorded in programs/functions rather than as debt service is assumed to be immaterial
     for the government-wide statements and may be reported in those programs/functions. However, the principal portion of the payment must be reclassified
     as a reduction in debt outstanding and the expenditures from the program/function or debt service reduced. Also, the accrued interest outstanding at the end
     of the year must be recorded. Adjustments to record accrued interest will adjust interest expense from the modified to full accrual basis. The accrued
     interest for each debt issue must be broken down by the program/function or debt service expense against which the interest expense is recorded so the
     appropriate expense is adjusted.

     1.   Any debt service payments, guaranteed energy savings contracts, or capital leases that have been reported in other purpose codes on the fund
          statements should be reclassified to debt service for the government-wide statements. Any amounts reported in 9000 series purpose codes in the fund
          statements should have been reclassified to debt service by Worksheet C, Entry 2.
     2.   Review the various governmental funds and identify debt service expenditures that should be recorded as a reduction to a liability as principal is paid
          down. Enter information in Section B below.
     3.   Determine the amount of accrued interest at the beginning of the fiscal year and as of the end of the year.
     4.   The journal entry for the conversion worksheet to reverse these expenditures and reduce the appropriate liability accounts will be
          automatically created.



A.   What was the amount of debt service paid by each function/program?

     Any debt service payments, guaranteed energy savings contract, or capital leases that have been reported in other purpose codes on the governmental fund
     statements, including the Local Current Expense Fund, should be reclassified to debt service for the government-wide statements. Any amounts reported in
     9000 series purpose codes in the fund statements should have been reclassified to debt service by Worksheet C, Entry 2.

                                                                                  Principal                       Interest
          Regular instructional services (5100)
          Special populations services (5200)
          Alternative programs and services (5300)
          School leadership services (5400)
          Co-curricular services (5500)
          School-based support services (5800)
          Support and development services (6100)
          Special population support and development services (6200)
          Alternative programs & services support & develop. ser. (6300)
          Technology support services (6400)
          Operational support services (6500)
          Financial & HR services (6600)
          Accountablilty services (6700)
          System-wide pupil support services (6800)
          Policy, leadership and public relations services (6900)
          Ancillary services (7000)
          Non-programmed charges (8000)

               Total                                                                          -                          -


B.   What was the amount of debt service - principal paid by category of debt for all governmental funds?
                                                                                                                  Amount
     1.   Enter the amount of principal paid as debt service in all governmental funds for the
          debt categories below?
                     Lease purchase/Installment purchases
                     Bonds and notes
                     County installment purchases
                     Guaranteed energy savings contracts
                        Total of principal payments                                                         j            -

     2.   As a verification of the number above, the following amounts are pulled from the
          total governmental funds column and previous entries.
                      Debt service - principal as reported in the fund statements - all governmental funds:              -
                      Debt service - principal reclassified from Entry C.2                                               -
                      Debt service - principal reclassified from Entry E.1 (Section A above)                             -
                         Total entries to debt service - principal                                          j            -


          This amount should agree to debt service - principal payments on the fund statements, plus any amounts, reclassified by entries C.2 and E.1. After
          posting this entry, the balance of the debt service - principal line should be zero.
                                                                                                                                                            20
                                                                                                                                                   Entry E


                           Adjust Debt Service Expenditures Under Modified Accrual to Full Accrual


C.   What was the principal - interest activity for debt over the year? (Not necessary for debt paid on a monthly basis)

                                                                                                           Amount

     1.   What was accrued interest at the beginning of the year under full accrual?

     2.   What was the accrued interest at the end of the year under full accrual?
              Change in accrued interest under full accrual                                                      -


D.   Entry for conversion worksheet to record reductions in outstanding debt and interest expense and liability.     [Entry E.1, E.2, E.3 & E.4]

                                                                                                            Debit               Credit
                     E.1        Debt Service -principal retirement                                               -
                                Debt service - interest expense                                                  -
                                     Regular instructional services (5100)                                                             -
                                     Special populations services (5200)                                                               -
                                     Alternative programs and services (5300)                                                          -
                                     School leadership services (5400)                                                                 -
                                     Co-curricular services (5500)                                                                     -
                                     School-based support services (5800)                                                              -
                                     Support and development services (6100)                                                           -
                                     Special population support and development services (6200)                                        -
                                     Alternative programs & services support & develop. ser. (6300)                                    -
                                     Technology support services (6400)                                                                -
                                     Operational support services (6500)                                                               -
                                     Financial & HR services (6600)                                                                    -
                                     Accountablilty services (6700)                                                                    -
                                     System-wide pupil support services (6800)                                                         -
                                     Policy, leadership and public relations services (6900)                                           -
                                     Ancillary services (7000)                                                                         -
                                     Non-programmed charges (8000)                                                                     -
                     E.2        Lease purchases/Installment purchases                                            -
                                Bonds and notes                                                                  -
                                County installment purchases                                                     -
                                Guaranteed energy savings contracts                                              -
                                    Debt Service -principal retirement                                                                 -
                     E.3        Beginning fund balance                                                           -
                                     Accrued interest payable                                                                          -
                     E.4        Accrued interest payable                                                         -                     -
                                     Debt service - interest expense                                             -                     -
                                                                                                                 -                     -
                                                                                                                 -




                                                                                                                                                        21
                                                                                                                                                Entry F


                                         Debt Issues and Other Debt Related Transactions
The issuance of debt needs to be reflected in the proper liability accounts rather than as other financing sources in order to prepare the government-wide
Statement of Net Assets. The entry created below will reverse the other financing sources entry and credit the appropriate liability account.

Please note that the full amount of the installment purchase proceeds for replacement buses under the new SunTrust Equipment Finance and Leasing
Corporation agreement should be recorded in the year of issuance since the debt is in the name of the LEA. The worksheet has been designed assuming
that the full amount of the debt proceeds has been recorded as an other financing source. If this has not been done, please adjust the capital outlay
fund to show an expenditure for the bus and other financing source for the full amount of the debt. Carolina County BOE illustrated financial
statements demonstrate this transaction.

     1.   Review the governmental funds for additions to the various debt categories which would have been recorded as an other financing source - debt
          proceeds. Enter information in Section A below.




A.   What was the amount of new debt issued by category for all governmental funds?

                                                                                          Face
                                                                                         Amount
     1.   Enter the face amount of newly issued debt for all
          governmental funds by the categories below.
              Lease purchases/Installment purchases (4850)
              Bonds and notes (4810)
              County installment purchases (4811)
              Guaranteed energy savings contract (4860)


                     Total of new debt                                                        -




B.   Entry for conversion worksheet to record additions to outstanding debt and all refunding activity. [Entry F.1]


                                                                                                                   Debit          Credit
                     F.1        OFS -    Lease purchases/Installment purchases (4850)                                   -
                                OFS -    Bonds and notes (4810)                                                         -
                                OFS -    County installment purchases (4811)                                            -
                                OFS -    Guaranteed energy savings contracts (4860)                                     -
                                             Lease purchases/Installment purchases (4850)                                               -
                                             Bonds and notes (4810)                                                                     -
                                             County installment purchases (4811)                                                        -
                                             Guaranteed energy savings contract (4860)                                                  -
                                                                                                                        -               -




                                                                                                                                                      22
                                                                                                                                                     Entry G


                                                 Adjustments to Other Asset Accounts
Treatment of certain asset accounts between the modified and full accrual basis will be different. Prepaid expenses and inventory may be accounted for
under either the consumption or the purchases method under the modified accrual basis of accounting, but only the consumption method is allowed under
full accrual. If the consumption method was used in the fund statements, no entry is required, but if the purchases method was used an adjustment must be
made. If inventories or prepaid expenses are not recorded at the fund level because they are not material, they are assumed not to be material to the
government-wide statements and no further actions are required. Also, accrued investment earnings is not recorded under the modified accrual basis of
accounting but will be under the full accrual basis.
     1.   Governmental funds have the option to record inventories and prepaid expenses using the purchases method; i.e. recognizing an expenditure at
          the time of purchase rather than based on consumption. GASB 34 requires that inventories and prepaid expenses be accounted for as assets
          regardless of their treatment at the fund level. Therefore balances remaining in inventories or prepaid expenses must be recorded as assets for
          the government-wide statements and the corresponding expenditures must be reduced.
     2.   Accrued investment earnings should be recorded under the full accrual basis of accounting. Accrued investment earnings at the beginning of the
          year were actually earned in the prior year; they must be reversed and beginning fund balance must be credited. Accrued investment earnings at
          year end are earned in this reporting period and although not yet received are recorded as revenue in the current year.


A.   Prepaid expenses - if recorded at the fund level using the purchases method
                                                                                                   Amount
     1.   What was the amount of the Reserve for Prepaid Expenses at the end of the
          prior year?
     2.   What was the amount of Reserve for Prepaid Expenses at the end of the
          current year?
                                                    Net change for the year                              -     j
     3.   Indicate to which function(s) the net change in prepaid expenses applies. The sum of
          the amounts below must equal the amount in the net change field above .               Net Change
                                                                                                 Amount
                                        Regular instructional services (5100)
                                        Special populations services (5200)
                                        Alternative programs and services (5300)
                                        School leadership services (5400)
                                        Co-curricular services (5500)
                                        School-based support services (5800)
                                        Support and development services (6100)
                                        Special population support & develop. services (6200)
                                        Alternative programs & services sup & dev. ser. (6300)
                                        Technology support services (6400)
                                        Operational support services (6500)
                                        Financial & HR services (6600)
                                        Accountablilty services (6700)
                                        System-wide pupil support services (6800)
                                        Policy, leadership and public relations services (6900)
                                        Ancillary services (7000)
                                        Non-programmed charges (8000)
                                                                                             j           -


B.   Inventory - if recorded at the fund level using the purchases method
     Purchases method
     1.   What was the amount of Reserve for inventory at the end of the prior year?
     2.   What was the amount of Reserve for inventory at the end of the current year?
                                                    Net change for the year                              -     k
          Indicate to which function(s) the net change in inventory reserve applies. The sum of
     3.
          the amounts below must equal the amount in the net change field above.
                                                                                                  Net Change
                                                                                                    amount
                                       Regular instructional services (5100)
                                       Special populations services (5200)
                                       Alternative programs and services (5300)
                                       School leadership services (5400)
                                       Co-curricular services (5500)
                                       School-based support services (5800)
                                       Support and development services (6100)
                                       Special population support & develop. services (6200)
                                       Alternative programs & services sup & dev. ser. (6300)
                                       Technology support services (6400)
                                       Operational support services (6500)
                                       Financial & HR services (6600)
                                       Accountablilty services (6700)
                                       System-wide pupil support services (6800)
                                       Policy, leadership and public relations services (6900)
                                       Ancillary services (7000)
                                       Non-programmed charges (8000)
                                                                                             k           -
                                                                                                                                                            23
                                                                                                                                            Entry G


                                                 Adjustments to Other Asset Accounts

C.   Investment Earnings


     1.    What are the accrued investment earnings at the beginning of the year?

     2.    What are the accrued investment earnings at the end of the year?


           Any investment earnings that must be reclassified to program revenue will be adjusted in worksheet I.


D.   Entry for Conversion worksheet to record changes in assets. (Entry G.1)

                                                                                                                   Debit       Credit
     G.1                          Accrued interest receivable                                                              -
                                  Change in Reserve for prepaid expense                                                    -
                                  Change in Reserve for inventory                                                          -
                                  Investment income                                                                        -            -
                                       Regular instructional services (5100)                                                            -
                                       Special populations services (5200)                                                              -
                                       Alternative programs and services (5300)                                                         -
                                       School leadership services (5400)                                                                -
                                       Co-curricular services (5500)                                                                    -
                                       School-based support services (5800)                                                             -
                                       Support and development services (6100)                                                          -
                                       Special population support & develop. services (6200)                                            -
                                       Alternative programs & services sup & dev. ser. (6300)                                           -
                                       Technology support services (6400)                                                               -
                                       Operational support services (6500)                                                              -
                                       Financial & HR services (6600)                                                                   -
                                       Accountablilty services (6700)                                                                   -
                                       System-wide pupil support services (6800)                                                        -
                                       Policy, leadership and public relations services (6900)                                          -
                                       Ancillary services (7000)                                                                        -
                                       Non-programmed charges (8000)                                                                    -
                                       Fund balance- beginning                                                                          -
                                                                                                                           -            -




                                                                                                                                                24
                                                                                                                                                                   Entry H


                                           Adjustments to Other Liability and Expense Accounts
Expenses need to be accrued for those liabilities incurred during the period which are not normally paid with current available resources. This includes items such as
compensated absences, claims and judgments (including workers' compensation claims), other long-term liabilities, or postemployment benefits other than the State
Healthcare benefit required by State law.
1. Compensated absences earned during the current period must be reported as an expense under full accrual accounting. This may be a number that is not easily
   determined. Typically, you will know the beginning and ending balances and either the leave earned during the current year (Method 1) or the leave used during the
   current year (Method 2). Choose ONE of the tables below in Section A. Enter the data in the yellow fields. The cells in blue with the red caption will be calculated.
   The information must be entered by function in order to calculate functional expense for the current year and prior years. This data will provide the information to
   create the entry to record current year expense and the entry to eliminate expenditures related to prior years. (Choose only one method; if data is entered into
   both tables the resulting entry will be overstated.)
2. Review the governmental funds for expenditures made during the year for claims & judgments (including workers' compensation claims). Enter the payment
   amounts in section B.1 below. Also, determine additions to claims & judgments (including workers' compensation claims) from management. Enter the amounts of
   the new liability by function in section B.2.
3. For other long term liabilities, the incremental changes will need to be recorded to charge the expense to the corresponding function.
   For other postemployment benefits (not including the State Healthcare benefits required under State law), the change in the net OPEB liability will
4. need to be recorded to charge the expense to the corresponding function.

A. Compensated Absences - What are current and prior year expenses under full accrual? (Choose Method 1 or 2)
   Method 1 - know current year amounts earned                           Beginning              Current year                 Ending
                                                                          Balance          Earned          Used*             Balance
         Regular instructional services (5100)                                                                  -
         Special populations services (5200)                                                                    -
         Alternative programs and services (5300)                                                               -
         School leadership services (5400)                                                                      -
         Co-curricular services (5500)                                                                          -
         School-based support services (5800)                                                                   -
         Support and development services (6100)                                                                -
         Special population support & develop. services (6200)                                                  -
         Alternative programs & services sup & dev. ser. (6300)                                                 -
         Technology support services (6400)                                                                     -
         Operational support services (6500)                                                                    -
         Financial & HR services (6600)                                                                         -
         Accountablilty services (6700)                                                                         -
         System-wide pupil support services (6800)                                                              -
         Policy, leadership and public relations services (6900)                                                -
         Ancillary services (7000)                                                                              -
         Non-programmed charges (8000)                                                                          -
         Total                                                                    -             -               -                    -

   Method 2 - know current year amounts used                             Beginning              Current year                 Ending
                                                                          Balance          Earned*          Used             Balance
         Regular instructional services (5100)                                                  -
         Special populations services (5200)                                                    -
         Alternative programs and services (5300)                                               -
         School leadership services (5400)                                                      -
         Co-curricular services (5500)                                                          -
         School-based support services (5800)                                                   -
         Support and development services (6100)                                                -
         Special population support & develop. services (6200)                                  -
         Alternative programs & services sup & dev. ser. (6300)                                 -
         Technology support services (6400)                                                     -
         Operational support services (6500)                                                    -
         Financial & HR services (6600)                                                         -
         Accountablilty services (6700)                                                         -
         System-wide pupil support services (6800)                                              -
         Policy, leadership and public relations services (6900)                                -
         Ancillary services (7000)                                                              -
         Non-programmed charges (8000)                                                          -
                                                                                  -             -                -                   -
       * Calculated -       Do not enter data into both tables !




                                                                                                                                                                           25
                                                                                                                                                             Entry H


                                                 Adjustments to Other Liability and Expense Accounts
B. What are the adjustments to expenses and liabilities for claims and judgments(including workers compensation payments) ?

   1.   What was the balance at the end of the prior year for claims and judgments?

   2.   What was the amount of new claims incurred during this current year?                                                            j
   3.   Indicate the amount of payments made on claims & judgments during current year.                                                 k
   4.   Were there any adjustments in the current year for prior year claims?
        Please enter reductions as negative amounts and increases as positive amounts.
                                                                                                                                        l
   5.   Ending balance for claims & judgments for the current year.             - calculated                                      -
   6.   Indicate to which function the new claims and judgments listed in step 2 apply. The sum of the amounts below must equal the amount in the
        corresponding step above. Indicate to which function the payment was charged in step 3. Indicate to which function any adjustments noted in step 4
        should be recorded. Indicate any amounts that should be reported as special or extraordinary items.
                                                                   New claims                      Payments           Adjustments
        Regular instructional services (5100)
        Special populations services (5200)
        Alternative programs and services (5300)
        School leadership services (5400)
        Co-curricular services (5500)
        School-based support services (5800)
        Support and development services (6100)
        Special pop. support & develop. ser. (6200)
        Alternative prog. & ser. sup & dev. ser. (6300)
        Technology support services (6400)
        Operational support services (6500)
        Financial & HR services (6600)
        Accountablilty services (6700)
        System-wide pupil support services (6800)
        Policy, leadership & PR services (6900)
        Ancillary services (7000)
        Non-programmed charges (8000)
        Special item
        Extraordinary item
                                                          j                 -                  k         -      l                 -




                                                                                                                                                                  26
                                                                                                                                                                           Entry H


                                                 Adjustments to Other Liability and Expense Accounts

C. Other long-term debt liabilities - What are adjustments to expenses and liabilities?
                                                                                                                                   Other long-term   Other long-term
                                                                                                                                     liability #1      liability #2
   1.   What was the balance at the end of the prior year for other long-term liabilities?

   2.   What was the amount of new liabilities incurred during this current year?                                            n                                         q
   3.   Indicate the amount of payments made on other long-term liabilities.                                                 o                                         r
   4.   Were there any adjustments to these account balances during the year?               Please enter reductions
        as negative amounts and increases as positive amounts.                                                               p                                         s
   5.   Ending balance for other long-term liabilities for the current year. -   calculated                                                   -                  -
   6.   Indicate to which function the new "other liabilities" listed in step 2 apply. The sum of the amounts below must
        equal the amount in the corresponding step above. Indicate to which function the payment was charged in
        step 3. Indicate to which function any adjustments noted in step 4 should be recorded. Indicate any amounts
        that should be reported as special or extraordinary items.

                                                                       Other long-term liability #1                          Other long-term liability #2
                                                                 New claims     Payments           Adjustments        New claims      Payments     Adjustments
        Regular instructional services (5100)
        Special populations services (5200)
        Alternative programs and services (5300)
        School leadership services (5400)
        Co-curricular services (5500)
        School-based support services (5800)
        Support and development services (6100)
        Special pop. support & develop. ser. (6200)
        Alternative prog. & ser. sup & dev. ser. (6300)
        Technology support services (6400)
        Operational support services (6500)
        Financial & HR services (6600)
        Accountablilty services (6700)
        System-wide pupil support services (6800)
        Policy, leadership & PR services (6900)
        Ancillary services (7000)
        Non-programmed charges (8000)
        Special item
        Extraordinary item
                                                                        -               -                     -              -                -                  -
                                                                       n           o                     p               q              r                 s




   What is the adjustment for Additional Other Postemployment Benefits (other than the Healthcare Benefits required under State law) offered for
D. the Total Governmental Funds portion? [Only applies to a few LEAs! Refer to Memorandum #2010-1 for journal entry overview.]

   1.   What was the amount of the net OPEB obligation at the beginning of the year for the Governmental Funds'
        portion? (Beginning balances for the Governmental Funds were recorded on the Beginning Capital Assets & LTD tab.)
        What was the amount of the net OPEB obligation at the ending of the year for the Governmental Funds'
   2.   portion?
                                                                                 Change in OPEB obligation during the year                    -      Q
   3.   Indicate to which functions the change in OPEB for the governmental funds apply. The sum of the amounts below must equal the amount in the
        corresponding step above.
                                                                                                                     Adjustments
                                                                     Regular instructional services (5100)
                                                                     Special populations services (5200)
                                                                     Alternative programs and services (5300)
                                                                     School leadership services (5400)
                                                                     Co-curricular services (5500)
                                                                     School-based support services (5800)
                                                                     Support and development services (6100)
                                                                     Special pop. support & develop. ser. (6200)
                                                                     Alternative prog. & ser. sup & dev. ser. (6300)
                                                                     Technology support services (6400)
                                                                     Operational support services (6500)
                                                                     Financial & HR services (6600)
                                                                     Accountablilty services (6700)
                                                                     System-wide pupil support services (6800)
                                                                     Policy, leadership & PR services (6900)
                                                                     Ancillary services (7000)
                                                                     Non-programmed charges (8000)
                                                                                                                 Q             -




                                                                                                                                                                                27
                                                                                                                             Entry H


                                       Adjustments to Other Liability and Expense Accounts

E. Journal entry for conversion worksheet to record additions and reductions in outstanding debt. [Entry H.1]
                                                                                                  Debit         Credit
                  H.1        Regular instructional services (5100)                                      -                -
                             Special populations services (5200)                                        -                -
                             Alternative programs and services (5300)                                   -                -
                             School leadership services (5400)                                          -                -
                             Co-curricular services (5500)                                              -                -
                             School-based support services (5800)                                       -                -
                             Support and development services (6100)                                    -                -
                             Special pop. support & develop. ser. (6200)                                -                -
                             Alternative prog. & ser. sup & dev. ser. (6300)                            -                -
                             Technology support services (6400)                                         -                -
                             Operational support services (6500)                                        -                -
                             Financial & HR services (6600)                                             -                -
                             Accountablilty services (6700)                                             -                -
                             System-wide pupil support services (6800)                                  -                -
                             Policy, leadership & PR services (6900)                                    -                -
                             Ancillary services (7000)                                                  -                -
                             Non-programmed charges (8000)                                              -                -
                             Special item                                                               -                -
                             Extraordinary item                                                         -                -
                                       Other postemployment benefits                                    -                -
                                       Compensated absences                                             -                -
                                       Claims & Judgments                                               -                -
                                       Other long-term liability #1                                     -                -
                                       Other long-term liability #2                                     -                -
                                                                                                        -                -
                                                                                                        -




                                                                                                                                  28
                                                                                                                                                                                      Entry I


                                                       Consolidation, Elimination and Reclassification Entries
Interfund balances between governmental funds must be eliminated for purposes of presenting the government-wide statements. Only those balances between governmental and business-
type activities will remain and they will be classified as internal balances. Interfund transfers must be consolidated to arrive at net transfers between governmental and business-type
activities. Reclassifications to programs or to current versus long-term assets and liabilities may also be necessary. Any inter-function activities must be eliminated so there will be no
duplication of expenses. Fund equity must be allocated to the appropriate net asset category. These are the final steps to produce the trial balance that will become the government-wide
statements.
     1.   Transfers that occur during the year between governmental funds and between governmental and enterprise funds must be eliminated or reclassified. Those transfers from and to
          governmental funds must be eliminated so that only those transfers to/from enterprise funds remain. Transfers to/from discretely presented component units should now be reported
          as revenue and expenditures in the appropriate governmental fund and will not need reclassification (this would be unusual for boards of education). After these adjustments, the
          remaining transfers should be those to business-type activities or fiduciary funds.
     2.   Interfund receivables and payables between the governmental funds must be eliminated so as not to overstate the assets and liabilities for governmental activities. There are four
          accounts which are affected, "due to/from" and "advances to/from." Interfund receivables and payables to fiduciary funds are treated as external parties at the government-wide
          level. They are best reported in a separate account entitled "due to/from fiduciary funds" on the fund's Statement of Net Assets. If "receivables/payables from fiduciary funds" have
          not already been recorded on a separate line, complete the questions in Section D.

     3.   The balances remaining after eliminating the activity between governmental funds should be the activity between governmental and business-type activities. These amounts will now
          be reclassified as "internal balances."
     4.   In order to present the net cost per function in the Statement of Activities, any "doubling up" of expenditures or revenues must be eliminated. This occurs when indirect costs are
          charged as an expenditure to the program/function providing the service and to the program/function benefiting from the service. In this scenario, the expenditures are presented
          twice and the revenues are overstated for governmental activities.
     5.   The Statement of Net Assets should be presented in order of liquidity and the current portion of long-term liabilities such as capital leases, installment purchases, guaranteed energy
          savings contracts, compensated liabilities, and other long-term liabilities must be identified separately. For compensated absences, this will typically be an estimate based on
          expected leave or average leave taken over the last several years. Indicate the amount to be paid from current resources in Section F below. If the portion payable and due within
          one year for other liability accounts has been handled elsewhere, this question can be left blank.

     6.   The Statement of Net Assets should be presented in order of liquidity and the current portion of long-term liabilities such as compensated absences liabilities and other long-term
          liabilities must be identified separately. For compensated absences, this will depend on the assumption of FIFO or LIFO as the method for computing leave to be taken. For the FIFO
          method, typically the estimate will be based on expected leave or average leave taken over the last several years. Indicate the amount to be paid from current resources in Section F
          below. If the LIFO method is used, the assumption is made that typically employees take leave as it is earned and that there is no current portion. If the portion payable and due
          within one year for other liability accounts has been handled elsewhere, the question can be left blank.

     7.   The components needed to arrive at Net Assets will be calculated for the Conversion Worksheet in section I below in cells N154, N196, and N198. The effect of the resulting entry
          will be to zero out the amount in fund balance and to credit (or debit) the amounts to the components of Net Assets. This should be one of the last steps completed since
          previous entries may effect your ending balances.


A.   Consolidate transfers to arrive at net transfers to business-type activities.


     1.   What was the amount of transfers between governmental funds? The amount transferred in and out will be the same. (Includes Local Current Expense Fund,
          State Public School Fund, Federal Grants Funds, Capital Outlay Fund and Individual Schools Fund ) .




B.   Eliminate interfund balances for receivables and payables between governmental funds.


     1.   What is the amount of interfund receivables and payables between governmental funds in the "due to/from account"? This is the amount only between
          governmental funds. Do not include any due to/due froms between governmental and enterprise funds.

     2.   What is the amount of interfund receivables and payables between governmental funds in the "advances to/from" account? This is the amount only
          between governmental funds. Do not include any advances between governmental and enterprise funds.



     Reclassify inter-activity receivables and payables to internal balances. Note: Due to/from Fiduciary funds are not included here. If they have not been separately classified
C.   at the fund level then complete Section D below.

     1.   What is the amount of "Due from other funds" due to the governmental funds from the enterprise funds (receivable)?


     2.   What is the amount of "Due to other funds" due to the enterprise funds from the governmental funds (payable) ?

     3.   What is the amount of "Advances to other funds" due to the governmental funds from the enterprise funds (receivable)?

     4.   What is the amount of "Advances from other funds" due to the enterprise funds from the governmental funds (payable) ?




D.   Reclassify receivables and payables to the fiduciary funds.

     1.   What is the amount in "Due from other funds" that is due from fiduciary funds ?

     2.   What is the amount in "Due to other funds" that is due to fiduciary funds?

          Leave this section blank if a separate account entitled Due to/from fiduciary funds has been used at the fund level.



E.   Eliminate the "doubling up effect" that may occur with inter-function activities when expenditures have been recorded twice.

     1.   What is the amount of indirect cost paid to the Local Current Expense Fund from the Federal Grants Fund?

     2.   What is the amount of indirect cost paid to the Local Current Expense Fund from the School Food Service and the Child Care
          Fund?




                                                                                                                                                                                            29
                                                                                                                                                                                          Entry I


F.   Classify current portion of long-term liabilities. (Leave the cell blank if account does not apply or classification has been handled previously.)


     1.   What is the amount of claims payable that will be due and payable within one year?

     2.   What is the amount of lease purchases/installment purchases payable that will be due and payable within one year?

     3.   What is the amount of bonds and notes payable that will be due and payable within one year?

     4.   What is the amount of County installment purchases payable that will be due and payable within one year?                                                                                 -

     5.   What is the amount of guaranteed energy savings contracts payable that will be due and payable within one year?

     6.   What is the amount of compensated balances payable that will be due and payable within one year? (Use of the FIFO assumption
          will be based on average leave taken over the years. Typically, use of the LIFO method will not have a current portion.)


     7.   What is the amount of                   Other long-term liability #1                   that will be due and payable within one year?

     8.   What is the amount of                   Other long-term liability #2                   that will be due and payable within one year?




G.   Reclassify any interest expense or investment income that should be related to a specific program.

     1.   Indicate the amount by program/function for interest expense or investment earnings that should be included with program
          cost or revenue due to being integral to the operation (this would be unusual for a board of education) or required by a third
          party restriction. If the investment earnings were classified as anything other than general revenues in worksheet A no
          additional entry to adjust revenue is necessary on this worksheet.                                                                                       Investment Earnings
                                                                                                                                        Interest Expense   Operating             Capital related
                               Regular instructional services (5100)
                               Special populations services (5200)
                               Alternative programs and services (5300)
                               School leadership services (5400)
                               Co-curricular services (5500)
                               School-based support services (5800)
                               Support and development services (6100)
                               Special population support & develop. services (6200)
                               Alternative programs & services sup & dev. ser. (6300)
                               Technology support services (6400)
                               Operational support services (6500)
                               Financial & HR services (6600)
                               Accountablilty services (6700)
                               System-wide pupil support services (6800)
                               Policy, leadership and public relations services (6900)
                               Ancillary services (7000)
                               Non-programmed charges (8000)
                               Totals                                                                                                                 -                -                           -




H.   Reclassify any material losses on the disposal of assets.

     1.   Indicate amount of material loss calculated in Entry D, cell O120. (Enter loss amount as a positive number.)
          As a material loss, amount in cell O120 must be negative and must be a material amount.
          (This loss will be netted against the program cost for Operational Support Services. --- See Q.131 Implementation Guide 1.)




                                                                                                                                                                                                   30
                                                                                                                                                                                          Entry I

I.   Reclassify fund balance to the components of net assets.

     Total Fund Equity to be allocated to Net Assets - after adjustments and change in net assets                                                                                #VALUE!
          This amount is the sum of two accounts: Beginning Fund Balance and Change in Net Assets after all conversion entries have been
          posted. Check the Conversion Worksheet, Statement of Net Assets columns (Column AR, Row 87 and 88) to find this amount.

     Invested in capital assets net of related debt:
     1.   What are net capital assets (capital assets less accumulated depreciation.)
          This amount is the sum of all capital asset accounts less the sum of all the related accumulated depreciation accounts. Use the account
          balances in Columns AR and AS from the Conversion worksheet.

     2.   What is debt related to capital assets?
          In most cases, this will be the sum of the capital leases, installment purchase and guaranteed energy contracts for the schools. Pull the
          total of these debt accounts from the sum of the liability accounts in column AS. (Only include the school's debt, of which the School
          holds title.)
     3.   What is the amount of unexpended debt proceeds on hand?
          This will come from your internal records. (Only include unexpended proceeds reported in the financial statements of the school.)
             Invested in capital assets net of related debt:                                                                                                                                   -

     Restricted Net Assets
     4. From the Capital Outlay Fund, identify the following amounts for grants or county funds that are
          restricted to capital projects. This data should be available on the fund balance sheet.
                                                                                         Accounts            Accounts                Deferred         Restricted for
                                                                           Cash         Receivable           Payable                 Revenue          Capital Projects
                                                                                                                                                                         -

     5.   Fund balance in the Individual Schools Fund, after any adjustments to full accrual (accrued interest, etc.)
          Fund balance from the fund statements adjusted for any full accrual entries (accrued interest, etc.)

     6.   For any restricted grants other than in the State Public School Fund or Revenue Code 3600 Federal Fund Revenue, with
          unexpended proceeds at year end, categorize the grant(s) by function/program and complete the following information for the
          sum of all grants in the function/program. This data comes from the unit's internal records. These will relate primarily to small
          miscellaneous grants in the Local Current Expense Fund. There may not be anything that applies for this section. Would need to have
          already recognized the revenue for there to be any entry. If there is more than one source of funds, then it may be necessary to make
          flow assumptions about which money is spent first. Document these assumptions in your workpapers. Entries for restrictions of net assets
          will be created based on the information included here.

                                                                                       Accounts         Accounts              Deferred                Restricted
                                                                       Cash            Receivable       Payable               Revenue                 Net Assets
          Regular instructional services (5100)                                                                                                                          -
          Special populations services (5200)                                                                                                                            -   ------
          Alternative programs and services (5300)                                                                                                                       -            I
          School leadership services (5400)                                                                                                                              -            I
          Co-curricular services (5500)                                                                                                                                  -            I
          School-based support services (5800)                                                                                                                           -            I
          Support and development services (6100)                                                                                                                        -            I
          Special pop. support & develop. services (6200)                                                                                                                -            I
          Alternative prog. & services sup & dev. ser. (6300)                                                                                                            -            I
          Technology support services (6400)                                                                                                                             -            I
          Operational support services (6500)                                                                                                                            -            I
          Financial & HR services (6600)                                                                                                                                 -            I
          Accountablilty services (6700)                                                                                                                                 -            I
          System-wide pupil support services (6800)                                                                                                                      -            I
          Policy, leadership and PR services (6900)                                                                                                                      -            I
          Ancillary services (7000)                                                                                                                                      -            I
          Non-programmed charges (8000)                                                                                                                                  -            I
                                                                                                                                                                                      I
     Total restricted assets for grants                                          -               -                      -                        -                       -            V
     Total restricted assets                                                                                                                                                                   -
     Unrestricted: Computed based on the remaining figure after subtracting restricted assets and capital assets less related debt.                                              #VALUE!




                                                                                                                                                                                               31
                                                                                                                                                 Entry I


J.    Final Entry for Conversion Worksheet [Entry I.1 through I.9]

                                                                                                   Debit       Credit
I.1                 OFS - Transfers in                                                                     -
                         OFU - Transfers out                                                   -                        -
I.2                 Due to other funds                                                                     -                Eliminates intra-governmental
                    Advances from other funds                                                              -                 activity
                         Due from other funds                                                                           -
                         Advances to other funds                                               -                        -
I.3                 Advances from other funds                                                              -
                    Due to other funds                                                                     -                Closes out inter-activity
                    Internal balances                                                                      -                accounts to internal
                          Advances to other funds                                                                       -   balance account
                          Due from other funds                                                 -                        -
I.4                 Due from fiduciary funds                                                               -
                         Due from other funds                                                                           -   Reclasses external
                    Due to other funds                                                                     -                receivables & payables
                         Due to fiduciary funds                                                -                        -
I.5                 Operational support services (6500)                   charge for service               -
                         Non-programmed charges(8000)                                                                   -   Eliminates doubling up effect
                         Operational support services(6500)                                    -                        -   of interfunction activity
I.6                 Claims and judgments                                                                   -
                    Lease purchases/Installment purchases                                                  -
                    Bonds and notes                                                                        -
                    County installment purchases                                                           -
                    Guaranteed energy savings contract                                                     -
                    Compensated absences                                                                   -
                    Other long-term liability #1                                                           -
                    Other long-term liability #2                                                           -                Classify for liquidity
                         Claims and judgments - payable current                                                         -   presentation
                         Lease purchases/Installment purchases payable- current                                         -
                         Bonds and notes payable- current                                                               -
                         County installment purchases payable- current                                                  -
                         Guaranteed energy savings contract payable- current                                            -
                         Compensated absences payable- current                                                          -
                         Other long-term liability #1        - current                                                  -
                         Other long-term liability #2        - current                         -                        -




                                                                                                                                                        32
                                                                                                                                                  Entry I
I.7   Regular instructional services (5100)                                                                   -
      Special populations services (5200)                                                                     -
      Alternative programs and services (5300)                                                                -
      School leadership services (5400)                                                                       -
      Co-curricular services (5500)                                                                           -
      School-based support services (5800)                                                                    -
      Support and development services (6100)                                                                 -
      Special population support & develop. services (6200)                                                   -
      Alternative programs & services sup & dev. ser. (6300)                                                  -
      Technology support services (6400)                                                                      -
      Operational support services (6500)                                                                     -
      Financial & HR services (6600)                                                                          -
      Accountablilty services (6700)                                                                          -
      System-wide pupil support services (6800)                                                               -
      Policy, leadership and public relations services (6900)                                                 -
      Ancillary services (7000)                                                                               -
      Non-programmed charges (8000)                                                                           -
            Interest expense                                                                                                -
      Investment earnings                                                                                     -
            Regular instructional services (5100)                operating grants & contributions                           -
            Special populations services (5200)                  operating grants & contributions                           -
            Alternative programs and services (5300)             operating grants & contributions                           -
            School leadership services (5400)                    operating grants & contributions                           -
            Co-curricular services (5500)                        operating grants & contributions                           -
            School-based support services (5800)                 operating grants & contributions                           -
            Support and development services (6100)              operating grants & contributions                           -
            Special population support & develop. services (6200)operating grants & contributions                           -   Reclass program revenue
                                                                 operating grants & contributions
            Alternative programs & services sup & dev. ser. (6300)                                                          -   not adjusted previously
            Technology support services (6400)                   operating grants & contributions                           -
            Operational support services (6500)                  operating grants & contributions                           -
            Financial & HR services (6600)                       operating grants & contributions                           -
            Accountablilty services (6700)                       operating grants & contributions                           -
            System-wide pupil support services (6800)            operating grants & contributions                           -
            Policy, leadership and PR services (6900)            operating grants & contributions                           -
            Ancillary services (7000)                            operating grants & contributions                           -
            Non-programmed charges (8000)                        operating grants & contributions                           -
            Regular instructional services (5100)                capital grants & contributions                             -
            Special populations services (5200)                  capital grants & contributions                             -
            Alternative programs and services (5300)             capital grants & contributions                             -
            School leadership services (5400)                    capital grants & contributions                             -
            Co-curricular services (5500)                        capital grants & contributions                             -
            School-based support services (5800)                 capital grants & contributions                             -
            Support and development services (6100)              capital grants & contributions                             -
            Special pop. support & develop services (6200)       capital grants & contributions                             -
            Alternative prog. & ser. sup & dev. ser. (6300)      capital grants & contributions                             -
            Technology support services (6400)                   capital grants & contributions                             -
            Operational support services (6500)                  capital grants & contributions                             -
            Financial & HR services (6600)                       capital grants & contributions                             -
            Accountablilty services (6700)                       capital grants & contributions                             -
            System-wide pupil support services (6800)            capital grants & contributions                             -
                                                                 capital grants & contributions
            Policy, leadership and public relations services (6900)                                                         -
            Ancillary services (7000)                            capital grants & contributions                             -
            Non-programmed charges (8000)                        capital grants & contributions                             -
                                                                                                -
I.8        Operational support services (6500)                                                                -
                          Miscellaneous General Revenue                                        -                            -
I.9   Fund balance                                                                                  #VALUE!
           Invested in capital assets net of related debt                                                                   -
           Restricted for capital projects                                                                                  -
           Restricted for Individual Schools                                                                                -
           Restricted for Regular instructional services (5100)                                                             -
           Restricted for Special populations services (5200)                                                               -
           Restricted for Alternative programs and services (5300)                                                          -
           Restricted for School leadership services (5400)                                                                 -
           Restricted for Co-curricular services (5500)                                                                     -
           Restricted for School-based support services (5800)                                                              -
           Restricted for Support and development services (6100)                                                           -
           Restricted for Special population support & develop. services (6200)                                             -   Classify net assets
           Restricted for Alternative programs & services sup & dev. ser. (6300)                                            -
           Restricted for Technology support services (6400)                                                                -
           Restricted for Operational support services (6500)                                                               -
           Restricted for Financial & HR services (6600)                                                                    -
           Restricted for Accountablilty services (6700)                                                                    -
           Restricted for System-wide pupil support services (6800)                                                         -
           Restricted for Policy, leadership and public relations services (6900)                                           -
           Restricted for Ancillary services (7000)                                                                         -
           Restricted for Non-programmed charges (8000)                                                                     -
           Unrestricted                                                           #VALUE!                         #VALUE!
                                                                                                    #VALUE!       #VALUE!
                                                                                                    #VALUE!




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