Docstoc

General Instructions - North Carolina Department of State Treasurer

Document Sample
General Instructions - North Carolina Department of State Treasurer Powered By Docstoc
					                                                                                                                        Instructions


                                             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, every yellow cell 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 will 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
named "other" funds or "other" accounts, etc. They should be obvious.

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 determine the necessary entry and post it in these columns to the appropriate accounts. Be
especially aware of extraordinary and special items that have not been handled elsewhere in the workbook.

This workbook is designed to calculate the government-wide numbers for all governmental -type activities, including any
internal service funds deemed to be primarily governmental in nature. 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 the sheet to which all the other sheets
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. The prior
year's ending balances for capital assets and long-term liabilities must also be manually posted to the "Capital Assets and
Long-term Debt" column.



  5dd73b8d-fa2c-478d-bd43-8e0b93dcedae.xls                                                                                            1
                                                                                                                                                 Instructions
Specific Instructions - continued


When you have worked through all the other worksheets (A-M), this sheet will have your government-wide numbers for the
governmental 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 will be effected. Please do not do so unless you
have strong Excel skills. Some "other" asset and "other" liability accounts have been added to handle the case where you need
another account. These titles can be changed but should 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.
    General 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 activities for the statements.
 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. Note that these reclassification entries only change the
    presentation of revenue and will not be a factor in the reconciliation from modified to full accrual.
 B. Property taxes: addresses the prior year and current year revenue recognition for ad valorem taxes.
 C. Other revenues: addresses the prior year and current year revenue recognition for all other revenue.
 D. Depreciation: records depreciation expense for all asset classes by program/function and records unallocated amounts.
 E. Capital Outlay: converts capital outlay expenditures for items above the capitalization threshold to the proper asset class
    and reduces respective program/function expenditures.
 F. Other Capital Asset Entries: addresses all other capital asset entries, sales, trades, retirements, donations, etc. and
    generates the correct entry to asset classes, programs/functions, and revenue or expenditure accounts.
G. Debt Service: converts debt service expenditures to the proper reductions in liability accounts.
 H. Debt Issues: addresses all other debt transactions including new debt issues, refunding, and amortization.
 I. Other Asset Entries: addresses the asset accounts, equity interest in joint venture, prepaid expenses, inventory, and
    advance funding of pensions.
 J. Other Liability & Expenses: addresses compensated absences, claims & judgments, net pension obligation, net OPEB
    liability and other long-term liabilities.
 K. K.1 - K.3 Internal Service Fund Allocation: There are worksheets for three internal service funds, each of which must
    serve governmental funds as the primary beneficiary. If enterprise funds are the primary beneficiary then they should be
    entered in the Business type conversion worksheet elsewhere on the website.
 L. 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 internal
    service funds for which business-type activities are the predominant user.
M. Net Asset Calculation: facilitates the determination of the net assets equity section. The resulting numbers are not
    mapped but are provided for manual entry into worksheet L to avoid circular logic.
    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 "unlock" the worksheet. We suggest that
once fund detail is verified that you unlock 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 are often larger than regular 8.5x11 paper.



Note:
Cross-referencing has been used throughout the workbook to tie together relevant numbers and or comments to better clarify an
entry. In each case we have used the following denotation j k l (circled numbers) which uses the font type "Wingdings2." If
your computer does not support this font you may see Greek alphabetic characters or some other notation. We apologize for any
confusion but notes and numbers will still cross-reference consistently by whatever character your computer displays.
  5dd73b8d-fa2c-478d-bd43-8e0b93dcedae.xls                                                                                                                    2
            7/25/2011                                                                                                                                     Carolina County                                                                                                                                                    3

                                                                                                                                                    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                                                                                                                                                 One column on the govt funds
    Accounts in tan have multiple                                                                                                                                                                                                                                                                                      statement -- computed

    lines to which entries are posted.                                                      Major Funds                                                                 Non-major Governmental Funds
                                                           General Fund               Major Fund #2    Major Fund #3   Major Fund #4    Capital Reserve            Emergency Telephone    Fire District   NW Capital Project   School Capital Project   Other Non-Major #1   Other Non-Major #2   Other Non-Major #3    Subtotal Non-Major
                        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          Dr
Balance Sheet Accounts
 Assets
    Cash and cash equivalents                         11,601,494                                                                       558,550                           2,450             1,783            2,244                 46,000                                                                                 611,027
    Restricted cash                                      534,602                                                                                                                                                                                                                                                               -
    Investments                                                                                                                                                                                                                                                                                                                -
    Taxes receivable                                    4,210,809                                                                                                        4,478             1,345                                                                                                                           5,823
    Allowance for uncollectible tax accounts           (1,425,294)                                                                                                           -                 -                                                                                                                               -
    Accrued interest receivable on taxes                                                                                                                                                                                                                                                                                       -
                                                                                                                                                                                                                                                                                                                               -
                                                                                                                                                                                                                                                                                                                               -
    Allowance for uncollectible interest                                                                                                                                                                                                                                                                                       -
    Accounts receivable                                  879,789                                                                                                                                            9,093                                                                                                          9,093
    Allowance for uncollectible accounts                (168,800)                                                                                                                                               -                                                                                                              -
    Special assessments receivable                        28,833                                                                                                                                                                                                                                                               -
    Due from other funds                                                                                                                                                                                                                                                                                                       -
                                                                                                                                                                                                                                                                                                                               -
                                                                                                                                                                                                                                                                                                                               -
    Due from fiduciary funds                                                                                                                                                                                                                                                                                                   -
    Due from other governments                         3,200,000                                                                                                                                                                  57,800                                                                                  57,800
    Due from component unit                               36,100                                                                                                                                                                                                                                                               -
    Internal balances                                                                                                                                                                                                                                                                                                          -
                                                                                                                                                                                                                                                                                                                               -
    Inventories                                        2,551,800                                                                                                                                                                                                                                                               -
    Prepaid items                                                                                                                                                                                                                                                                                                              -
    Advances to other funds                                                                                                                                                                                                                                                                                                    -
                                                                                                                                                                                                                                                                                                                               -
    Intangible asset - advance funding of pension
    obligation                                                                                                                                                                                                                                                                                                                    -
    Deferred Charges - Issuance cost                                                                                                                                                                                                                                                                                              -
    Deferred Charges - refunding                                                                                                                                                                                                                                                                                                  -
    Land                                                                                                                                                                                                                                                                                                                          -
                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                  -
    Construction in progress                                                                                                                                                                                                                                                                                                      -
    Other non-depreciable assets                                                                                                                                                                                                                                                                                                  -
    Buildings                                                                                                                                                                                                                                                                                                                     -
                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                  -
    Accum. Depreciation - Buildings                                                                                                                                                                                                                                                                                               -
    Improvements other than buildings                                                                                                                                                                                                                                                                                             -
                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                  -
    Accum. Depreciation - Improvements                                                                                                                                                                                                                                                                                            -
    Equipment & Furniture                                                                                                                                                                                                                                                                                                         -
                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                  -
    Accum. Depreciation - Equipment & Furniture                                                                                                                                                                                                                                                                                   -
    Vehicles & motorized equip.                                                                                                                                                                                                                                                                                                   -
                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                  -
    Accum. Depreciation - Vehicles + Mot. Equip                                                                                                                                                                                                                                                                                   -
    Infrastructure                                                                                                                                                                                                                                                                                                                -
                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                  -
    Accum. Depreciation - Infrastructure                                                                                                                                                                                                                                                                                          -




            5dd73b8d-fa2c-478d-bd43-8e0b93dcedae.xls
          7/25/2011                                                                                                                                    Carolina County                                                                                                                                                      4

                                                                                                                                                 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                                                                                                                                                   One column on the govt funds
  Accounts in tan have multiple                                                                                                                                                                                                                                                                                       statement -- computed

  lines to which entries are posted.                                                     Major Funds                                                                 Non-major Governmental Funds
                                                       General Fund                Major Fund #2    Major Fund #3   Major Fund #4    Capital Reserve            Emergency Telephone    Fire District    NW Capital Project    School Capital Project   Other Non-Major #1   Other Non-Major #2   Other Non-Major #3    Subtotal Non-Major
                        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          Dr
  Computer Software                                                                                                                                                                                                                                                                                                           -
                                                                                                                                                                                                                                                                                                                              -
                                                                                                                                                                                                                                                                                                                              -
  Accum. Depreciation - computer software                                                                                                                                                                                                                                                                                     -
  Other asset class 1                                                                                                                                                                                                                                                                                                         -
                                                                                                                                                                                                                                                                                                                              -
                                                                                                                                                                                                                                                                                                                              -
  Accum Depreciation - asset class 1                                                                                                                                                                                                                                                                                          -
  Net investment in joint venture                                                                                                                                                                                                                                                                                             -
Liabilities                                                                                                                                                                                                                                                                                                                      -
   Accounts payable & accrued liabilities                             3,560,192                                                                                                 4,478                                 3,368                   5,500                                                                              -
   Miscellaneous liabilities                                            226,142                                                                                                                                                                                                                                                  -
   Contract retainage                                                         -                                                                                                                                                              85,030                                                                              -
   Due to other funds                                                                                                                                                                                                                                                                                                            -
                                                                                                                                                                                                                                                                                                                                 -
                                                                                                                                                                                                                                                                                                                                 -
  Deferred revenue                                                    2,298,599                                                                                                                 1,345                                                                                                                            -
                                                                                                                                                                                                                                                                                                                                 -
                                                                                                                                                                                                                                                                                                                                 -
  Unearned revenue                                                      329,403                                                                                                                                                               3,000                                                                              -
  Customer deposits                                                                                                                                                                                                                                                                                                              -
  Due to other governments                                                50,551                                                                                                                                                                                                                                                 -
  Due to fiduciary funds                                                                                                                                                                                                                                                                                                         -
  Intergovernmental payable                                                                                                                                                                                                                                                                                                      -
  Advances from other funds                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                 -
  Accrued interest payable                                                                                                                                                                                                                                                                                                       -
  Claims payable - current                                                                                                                                                                                                                                                                                                       -
  COPs payable - current                                                                                                                                                                                                                                                                                                         -
  Bonds payable - current                                                                                                                                                                                                                                                                                                        -
  Notes payable - current                                                                                                                                                                                                                                                                                                        -
  Capital leases - current                                                                                                                                                                                                                                                                                                       -
  Compensated absences - current                                                                                                                                                                                                                                                                                                 -
  Other long-term liability #1 - current                                                                                                                                                                                                                                                                                         -
  Other long-term liability #2 - current                                                                                                                                                                                                                                                                                         -
  Liabilities payable from restricted assets                              62,879                                                                                                                                                                                                                                                 -
  General obligation bonds                                                                                                                                                                                                                                                                                                       -
                                                                                                                                                                                                                                                                                                                                 -
  Premium - GO Bonds                                                                                                                                                                                                                                                                                                             -
  Discount - GO Bonds - contra-liability                                                                                                                                                                                                                                                                                         -
  Bond anticipation notes                                                                                                                                                                                                                                                                                                        -
  Installment purchases/COPS                                                                                                                                                                                                                                                                                                     -
  Capital leases payable                                                                                                                                                                                                                                                                                                         -
  Notes and loans payable                                                                                                                                                                                                                                                                                                        -
  Compensated absences payable                                                                                                                                                                                                                                                                                                   -
  Claims and judgments                                                                                                                                                                                                                                                                                                           -
  Other long-term liability #1                                                                                                                                                                                                                                                                                                   -
  Other long-term liability #2                                                                                                                                                                                                                                                                                                   -
  Net pension obligation                                                                                                                                                                                                                                                                                                         -
  Net OPEB liability                                                                                                                                                                                                                                                                                                             -




          5dd73b8d-fa2c-478d-bd43-8e0b93dcedae.xls
                                     7/25/2011                                                                                                                                           Carolina County                                                                                                                                                          5

                                                                                                                                                                                   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                                                                                                                                                       One column on the govt funds
                             Accounts in tan have multiple                                                                                                                                                                                                                                                                                                  statement -- computed

                             lines to which entries are posted.                                                            Major Funds                                                                 Non-major Governmental Funds
                                                                                          General Fund               Major Fund #2    Major Fund #3   Major Fund #4    Capital Reserve            Emergency Telephone    Fire District    NW Capital Project    School Capital Project   Other Non-Major #1       Other Non-Major #2   Other Non-Major #3    Subtotal Non-Major
                                                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          Dr
                             Fund Equity - Beginning                                               12,192,598                                                                   337,000                          1,000            1,623                37,633                                                 -                                                     -
                                                                                                                                                                                                                                                                                                                                                                    -
                                                                                                                                                                                                                                                                                                                                                                    -
                                                                                                                                                                                                                                                                                                                                                                    -
                                Change in net assets                                                                                                                                                                                                                                                                                                                -
                                Reclassification to net assets                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                                                    -
 Net Assets                                                                                                                                                                                                                                                                                                                                                         -
   Invested in capital assets net of related debt                                                                                                                                                                                                                                                                                                                   -
   Restricted for Capital Projects                                                                                                                                                                                                                                                                                                                                  -
   Restricted for Debt Service                                                                                                                                                                                                                                                                                                                                      -
   Restricted for Transportation                                                                                                                                                                                                                                                                                                                                    -
   Restricted for Public Safety                                                                                                                                                                                                                                                                                                                                     -
 Government-wide Statement




   Restricted for Economic Development                                                                                                                                                                                                                                                                                                                              -
   Restricted for Cultural and Recreation                                                                                                                                                                                                                                                                                                                           -
   Restricted for Education                                                                                                                                                                                                                                                                                                                                         -
   Restricted for Register of Deeds                                                                                                                                                                                                                                                                                                                                 -
   Restricted for Stabilization by State Statute                                                                                                                                                                                                                                                                                                                    -
   Restricted for Other restrictions #1                                                                                                                                                                                                                                                                                                                             -
   Restricted for Other restrictions #2                                                                                                                                                                                                                                                                                                                             -
   Restricted for Other restrictions #3                                                                                                                                                                                                                                                                                                                             -
   Unrestricted                                                                                                                                                                                                                                                                                                                                                     -
                                                                                                                                                                                                                                                                                                                                                                    -
Operating Accounts - Revenues                                                                                                                                                                                                                                                                                                                                          -
                             Taxes - Ad valorem …………………...(General)                                    55,462,297                                                                            -                        -          20,861                     -                       -                                                                                  -
                             Local option sales taxes…………………(General)                                  12,849,824                                                                            -                        -               -                     -                 376,400                                                                                  -
                             Other taxes & licenses…………………..(General)                                     276,471                                                                            -                        -               -                     -                       -                                                                                  -
                             Unrestricted intergovernmental..(Typically general)                          145,522                                                                                                                                                                                                                                                      -
                             Restricted intergovernmental…………...(Program)                              14,057,550                                                                            -                  57,136                -               32,832                  666,829                                                                                  -
                             Permits and fees…………….(Charges for services)                                 398,938                                                                                                                                                                                                                                                      -
                             Sales & services…………….(Charges for services)                               1,144,821                                                                                                                                                                                                                                                      -
                             Investment earnings……………..(Typically general)                              1,563,697                                                                    21,550                                         99                13,600                   16,700                                                                                  -
                             Miscellaneous……………………(Typically general)                                     116,284                                                                         -                           -              -                70,000                        -                                                                                  -
                                                                                                                                                                                                                                                                                                                                                                       -
                                                                                                                                                                                                                                                                                                                                                                       -
                                                                                                                                                                                                                                                                                                                                                                       -
                                                                                                                                                                                                                                                                                                                                                                       -
                             Other revenue 1                                                                                                                                                                                                                                                                                                                           -
                             Other revenue 2                                                                                                                                                                                                                                                                                                                           -
                                                                                                                                                                                                                                                                                                                                                                       -
 General Government                                                                                                                                                                                                                                                                                                                                                    -
 Govt-wide




   Charges for Services                                                                                                                                                                                                                                                                                                                                                -
   Operating Grants & Contributions                                                                                                                                                                                                                                                                                                                                    -
                             Capital Grants & Contributions                                                                                                                                                                                                                                                                                                            -
                                                                                                                                                                                                                                                                                                                                                                       -
 Public Safety                                                                                                                                                                                                                                                                                                                                                         -
 Govt-wide




   Charges for Services                                                                                                                                                                                                                                                                                                                                                -
   Operating Grants & Contributions                                                                                                                                                                                                                                                                                                                                    -
   Capital Grants & Contributions                                                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                                                       -
 Transportation                                                                                                                                                                                                                                                                                                                                                        -
 Govt-wide




   Charges for Services                                                                                                                                                                                                                                                                                                                                                -
   Operating Grants & Contributions                                                                                                                                                                                                                                                                                                                                    -
   Capital Grants & Contributions                                                                                                                                                                                                                                                                                                                                      -




                                     5dd73b8d-fa2c-478d-bd43-8e0b93dcedae.xls
                    7/25/2011                                                                                                                                   Carolina County                                                                                                                                                    6

                                                                                                                                                          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                                                                                                                                                 One column on the govt funds
             Accounts in tan have multiple                                                                                                                                                                                                                                                                                   statement -- computed

             lines to which entries are posted.                                                   Major Funds                                                                 Non-major Governmental Funds
                                                                  General Fund              Major Fund #2    Major Fund #3   Major Fund #4    Capital Reserve            Emergency Telephone    Fire District   NW Capital Project   School Capital Project   Other Non-Major #1   Other Non-Major #2   Other Non-Major #3    Subtotal Non-Major
                                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          Dr
                                                                                                                                                                                                                                                                                                                                     -
 Economic and Physical Development                                                                                                                                                                                                                                                                                                   -
 Govt-wide




   Charges for Services                                                                                                                                                                                                                                                                                                              -
   Operating Grants & Contributions                                                                                                                                                                                                                                                                                                  -
             Capital Grants & Contributions                                                                                                                                                                                                                                                                                             -
                                                                                                                                                                                                                                                                                                                                        -
 Environmental Protection                                                                                                                                                                                                                                                                                                               -
 Govt-wide




   Charges for Services                                                                                                                                                                                                                                                                                                                 -
   Operating Grants & Contributions                                                                                                                                                                                                                                                                                                     -
             Capital Grants & Contributions                                                                                                                                                                                                                                                                                             -
                                                                                                                                                                                                                                                                                                                                        -
 Human Services                                                                                                                                                                                                                                                                                                                         -
 Govt-wide




   Charges for Services                                                                                                                                                                                                                                                                                                                 -
   Operating Grants & Contributions                                                                                                                                                                                                                                                                                                     -
             Capital Grants & Contributions                                                                                                                                                                                                                                                                                             -
                                                                                                                                                                                                                                                                                                                                        -
 Cultural & Recreation                                                                                                                                                                                                                                                                                                                  -
 Govt-wide




   Charges for Services                                                                                                                                                                                                                                                                                                                 -
   Operating Grants & Contributions                                                                                                                                                                                                                                                                                                     -
   Capital Grants & Contributions                                                                                                                                                                                                                                                                                                       -
                                                                                                                                                                                                                                                                                                                                        -
 Education                                                                                                                                                                                                                                                                                                                              -
   Charges for Services                                                                                                                                                                                                                                                                                                                 -
 Govt-wide




   Operating Grants & Contributions                                                                                                                                                                                                                                                                                                     -
   Capital Grants & Contributions                                                                                                                                                                                                                                                                                                       -
                                                                                                                                                                                                                                                                                                                                        -
 Other program 1                                                                                                                                                                                                                                                                                                                        -
   Charges for Services                                                                                                                                                                                                                                                                                                                 -
 Govt-wide




   Operating Grants & Contributions                                                                                                                                                                                                                                                                                                     -
   Capital Grants & Contributions                                                                                                                                                                                                                                                                                                       -
                                                                                                                                                                                                                                                                                                                                        -
Operating Accounts - Expenditures                                                                                                                                                                                                                                                                                                       -
                                                                                                                                                                                                                                                                                                                                        -
 General Government                                            6,826,696                                                                              -                             -                -                 -                      -                                                                                         -
                                                                                                                                                                                                                                                                                                                                        -
                                                                                                                                                                                                                                                                                                                                        -
                                                                                                                                                                                                                                                                                                                                        -
                                                                                                                                                                                                                                                                                                                                        -
 Public Safety                                                 7,032,599                                                                              -                        55,686           20,800                 -                      -                                                                                  76,486
                                                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                      -
 Transportation                                                1,138,578                                                                                                                                                                                                                                                                -
                                                                                                                                                                                                                                                                                                                                        -
                                                                                                                                                                                                                                                                                                                                        -
                                                                                                                                                                                                                                                                                                                                        -
 Economic and Physical Development                             1,316,929                                                                                                                                                                                                                                                                -
                                                                                                                                                                                                                                                                                                                                        -
                                                                                                                                                                                                                                                                                                                                        -
                                                                                                                                                                                                                                                                                                                                        -




                    5dd73b8d-fa2c-478d-bd43-8e0b93dcedae.xls
            7/25/2011                                                                                                                                                     Carolina County                                                                                                                                                           7

                                                                                                                                                                    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                                                                                                                                                        One column on the govt funds
    Accounts in tan have multiple                                                                                                                                                                                                                                                                                                             statement -- computed

    lines to which entries are posted.                                                              Major Funds                                                                         Non-major Governmental Funds
                                                                  General Fund                Major Fund #2    Major Fund #3       Major Fund #4        Capital Reserve            Emergency Telephone    Fire District      NW Capital Project   School Capital Project   Other Non-Major #1       Other Non-Major #2   Other Non-Major #3    Subtotal Non-Major
                     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          Dr
 Environmental Protection                                                                                                                                                                                                                                                                                                                             -
                                                                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                                      -
 Human Services                                              22,419,822                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                                         -
                                                                                                                                                                                                                                                                                                                                                         -
                                                                                                                                                                                                                                                                                                                                                         -
 Cultural & Recreation                                        2,308,240                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                                         -
                                                                                                                                                                                                                                                                                                                                                         -
                                                                                                                                                                                                                                                                                                                                                         -
 Education                                                   41,418,016                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                                         -
                                                                                                                                                                                                                                                                                                                                                         -
                                                                                                                                                                                                                                                                                                                                                         -
 Other program 1                                                                                                                                                                                                                                                                                                                                         -
                                                                                                                                                                                                                                                                                                                                                         -
                                                                                                                                                                                                                                                                                                                                                         -
                                                                                                                                                                                                                                                                                                                                                         -
 Capital Outlay                                                           -                                                                                     -                             -                 -            146,096              1,700,600                                                                                   1,846,696


 Debt Service
   Principal retirement                                         618,166                                                                                                                                                                                                                                                                                  -
   Interest and fees                                            692,904                                                                                                                                                                                                                                                                                  -
   Bond issuance costs                                           65,000                                                                                                                                                                                                                                                                                  -
   Advance refunding escrow                                      15,000                                                                                                                                                                                                                                                                                  -
 Unallocated depreciation                                                                                                                                                                                                                                                                                                                                -

Other financing sources (uses)
    OFS - Transfers in                                                             619,059                                                                          200,000                                                                                      70,000                                                                               -
    OFU - Transfers out                                         370,000                                                                                                                       -                                                     619,059                                                                                     619,059
    OFS - Capital leases (proceeds)                                                100,000                                                                                                                                                                                                                                                            -
    OFS - Installment purchase/COPS (proceeds)                                                                                                                                                                                                                1,200,000                                                                               -
    OFS - Bonds issued (proceeds)                                                3,365,000                                                                                                                                                                                                                                                            -
    OFS - Premiums on debt issued                                                                                                                                                                                                                                                                                                                     -
    OFU - Discounts on debt issued                                                                                                                                                                                                                                                                                                                    -
    OFU - Payments to escrow agent                            3,300,000                                                                                                                                                                                                                                                                               -
    OFS - Sale of capital assets                                                     28,482                                                                                                                                                                                                                                                           -
    OFS - Insurance recovery                                                                                                                                                                                                                                                                                                                          -
    Change in reserve for prepaid expenses                                                                                                                                                                                                                                                                                                            -
    Change in reserve for inventories                                              122,974                                                                                                                                                                                                                                                            -

Special and extraordinary items
    Special item - expenditure                                                                                                                                                                                                                                                                                                                           -
    Extraordinary item - expenditure                                                                                                                                                                                                                                                                                                                     -
                                                                                                                                                                                                                                                                                                                                                         -
    Special item - revenue                                                                                                                                                                                                                                                                                                                               -
                                                                                                                                                                                                                                                                                                                                                         -
    Extraordinary item - revenue                                                                                                                                                                                                                                                                                                                         -

       Proof Total - (debits and credits should balance)   108,971,283        108,971,283          -      -       -            -      -            -   558,550      558,550              62,614   62,614   23,928   23,928   157,433    157,433   2,423,459   2,423,459          -              -          -         -         -         -    3,225,984

Change in Net Assets




            5dd73b8d-fa2c-478d-bd43-8e0b93dcedae.xls
            7/25/2011                                                                                                                                                   Carolina County                                                                                                                                                    8

                                                                                                                                                                  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                                                                                                                                                 One column on the govt funds
    Accounts in tan have multiple                                                                                                                                                                                                                                                                                                    statement -- computed

    lines to which entries are posted.                                                           Major Funds                                                                          Non-major Governmental Funds
                                                                General Fund               Major Fund #2    Major Fund #3        Major Fund #4        Capital Reserve            Emergency Telephone    Fire District   NW Capital Project   School Capital Project   Other Non-Major #1   Other Non-Major #2   Other Non-Major #3    Subtotal Non-Major
                        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          Dr




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 for modified accrual 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 are the ending balances from the prior year (this year's beginning balances.) 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. A separate worksheet on the website is available to assist with this allocation.
 Please note that the numbers in this column will not be included in the reconciliation from modified to full accrual.
  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 worksheets K and L including the required Internal Service Fund entries in worksheet K.1, K.2, and K.3.




            5dd73b8d-fa2c-478d-bd43-8e0b93dcedae.xls
                           7/25/2011                                                                                                                                                                    Carolina County                                                                                                                                            9

                                                                                                                                                                                                  GASB 34 Conversion Worksheet
                                                                                                                                                             to prepare the Government-wide Statements - (including adjustments and consolidations)

column on the govt funds    Grand total of major + non-major        Note 3 - Data must be Entered   Note 4 -- Entry A.1 from   Note 5: Conversion and annual accruals                   Note 6: Reclassifications, eliminations, and         Manually Posted          -- Computed --                                  --- Computed ---
ment -- computed           funds -- computed                       below to the proper accounts              Worksheet A                   Entries from Worksheets B - J                   consolidation entries - Worksheets K & L              Entries

                                      Total                           Capital Assets and               Reclassification of                                                                      Reclassifications and                      Other Misc Entries                                       Statement of                          Statement of
btotal Non-Major                Governmental Funds                 Long-term Debt Accounts            Revenues by Function                   Conversion Entries                                     Eliminations                              As Needed            Working Column                     Activities                           Net Assets
           Cr                    Dr           Cr                       Dr            Cr                 Dr            Cr       Ref           Dr        Ref                 Cr        Ref          Dr         Ref      Cr                    Dr           Cr       Dr            Cr                 Dr            Cr                 Dr                   Cr



                      -      12,212,521                        -                                                                                                                     K.1-3                 -                                                    12,212,521                     -                                 12,212,521
                      -         534,602                        -                                                                                                                                                                                                   534,602                     -                                    534,602
                      -               -                        -                                                                                                                     K.1-3                 -                                                             -                     -                                                               -
                      -       4,216,632                        -                                                                                                                                                                                                 4,216,632                     -                                  4,216,632
                      -      (1,425,294)                       -                                                                                                                                                                                                (1,425,294)                    -                                                    1,425,294
                      -               -                        -                                                               B.1           326,897                                                                                                               326,897                     -                                    329,219
                      -               -                        -                                                               B.2             2,322                                                                                                                 2,322                     -
                      -               -                        -                                                               C.1                 -                                                                                                                     -                     -
                      -               -                        -                                                                                                                                                                                                         -                     -                                                               -
                      -         888,882                        -                                                                                                                                                                                                   888,882                     -                                    888,882
                      -        (168,800)                       -                                                                                                                                                                                                  (168,800)                    -                                                         168,800
                      -          28,833                        -                                                                                                                                                                                                    28,833                     -                                         28,833
                      -               -                        -                                                                                                                     K.1-3                 -     L.2                   -                                 -                     -                                                               -
                      -               -                        -                                                                                                                                                 L.3                   -                                 -                     -
                      -               -                        -                                                                                                                                                 L.4                   -                                 -                     -
                      -               -                        -                                                                                                                     L.4                   -                                                             -                     -                                                               -
                      -       3,257,800                        -                                                                                                                                                                                                 3,257,800                     -                                  3,257,800
                      -          36,100                        -                                                                                                                                                                                                    36,100                     -                                     36,100
                      -               -                        -                                                                                                                     L.3                   -    K.1-3                  -                                 -                     -                                                               -
                      -               -                        -                                                                                                                     L.8                   -     L.8                   -                                 -                     -
                      -       2,551,800                        -                                                                                                                     K.1-3                 -                                                     2,551,800                     -                                  2,551,800
                      -               -                        -                                                                                                                     K.1-3                 -                                                             -                     -                                                               -
                      -               -                        -                                                                                                                     K.1-3                 -     L.2                   -                                 -                     -                                                               -
                      -               -                        -                                                                                                                                                 L.3                   -                                 -                     -

                      -                    -                   -                                                               I.1                 -                                                                                                                     -                     -                                                               -
                      -                    -                   -                                                               H.1            65,000       H.1               4,643                                                                                  65,000                 4,643                                     60,357
                      -                    -                   -                                                               H.1           315,000       H.1              22,500                                                                                 315,000                22,500                                    292,500
                      -                    -                   -      1,795,206                                                E.1                 -       F.1               1,000   K.1-3                 -                                                     1,795,206                 1,000                                  1,831,706
                      -                    -                   -                                                               F.1                 -       F.4                   -                                                                                       -                     -
                      -                    -                   -                                                               F.2            37,500                                                                                                                37,500                     -
                      -                    -                   -        294,467                                                E.1           146,096                                                                                                               440,563                     -                                    440,563
                      -                    -                   -                                                                                                                                                                                                         -                     -                                                               -
                      -                    -                   -    14,513,340                                                 E.1            92,650       F.1                   -   K.1-3                 -                                                    14,605,990                     -                                 14,605,990
                      -                    -                   -                                                               F.1                 -       F.4                   -                                                                                       -                     -
                      -                    -                   -                                                               F.2                 -                                                                                                                     -                     -
                      -                    -                   -                        4,355,382                              F.1                 -       D.1             725,792                              K.1-3                  -                                 -             5,081,174                                                    5,081,174
                      -                    -                   -      1,382,098                                                E.1            43,000       F.1               9,150                                                                               1,425,098                 9,150                                  1,415,948
                      -                    -                   -                                                               F.1                 -       F.4                   -                                                                                       -                     -
                      -                    -                   -                                                               F.2                 -                                                                                                                     -                     -
                      -                    -                   -                          442,271                              F.1             9,150       D.1              92,600                                                                                   9,150               534,871                                                         525,721
                      -                    -                   -      1,961,318                                                E.1           575,666       F.1             131,779   K.1-3                 -                                                     2,536,984               131,779                                  2,405,205
                      -                    -                   -                                                               F.1                 -       F.4                   -                                                                                       -                     -
                      -                    -                   -                                                               F.2                 -                                                                                                                     -                     -
                      -                    -                   -                        1,274,857                              F.1           131,779       D.1             196,132                              K.1-3                  -                           131,779             1,470,989                                                    1,339,210
                      -                    -                   -        862,002                                                E.1           239,203       F.1               2,639 K.1-3                   -                                                     1,101,205                 2,639                                  1,098,566
                      -                    -                   -                                                               F.1                 -       F.4                   -                                                                                       -                     -
                      -                    -                   -                                                               F.2                 -                                                                                                                     -                     -
                      -                    -                   -                          431,001                              F.1             2,639       D.1             172,400                              K.1-3                  -                             2,639               603,401                                                         600,762
                      -                    -                   -      1,040,672                                                E.1                 -       F.1                   -                                                                               1,040,672                     -                                  1,040,672
                      -                    -                   -                                                               F.1                 -       F.4                   -                                                                                       -                     -
                      -                    -                   -                                                               F.2                 -                                                                                                                     -                     -
                      -                    -                   -                          312,016                              F.1                 -       D.1              26,017                                                                                       -               338,033                                                         338,033




                           5dd73b8d-fa2c-478d-bd43-8e0b93dcedae.xls
                           7/25/2011                                                                                                                                                                   Carolina County                                                                                                                                          10

                                                                                                                                                                                                 GASB 34 Conversion Worksheet
                                                                                                                                                           to prepare the Government-wide Statements - (including adjustments and consolidations)

column on the govt funds    Grand total of major + non-major      Note 3 - Data must be Entered   Note 4 -- Entry A.1 from   Note 5: Conversion and annual accruals                   Note 6: Reclassifications, eliminations, and         Manually Posted         -- Computed --                                  --- Computed ---
ment -- computed           funds -- computed                     below to the proper accounts              Worksheet A                   Entries from Worksheets B - J                    consolidation entries - Worksheets K & L             Entries

                                      Total                         Capital Assets and               Reclassification of                                                                       Reclassifications and                     Other Misc Entries                                      Statement of                         Statement of
btotal Non-Major                Governmental Funds               Long-term Debt Accounts            Revenues by Function                   Conversion Entries                                      Eliminations                             As Needed           Working Column                     Activities                          Net Assets
           Cr                    Dr           Cr                     Dr            Cr                 Dr            Cr       Ref           Dr        Ref                 Cr         Ref          Dr         Ref      Cr                   Dr           Cr      Dr            Cr                 Dr            Cr                 Dr                  Cr
                      -               -                        -       5,000                                                 E.1                 -   F.1                        -                                                                                 5,000                    -                                          5,000
                      -               -                        -                                                             F.1                 -   F.4                        -                                                                                     -                    -
                      -               -                        -                                                             F.2                 -                                                                                                                    -                    -
                      -               -                        -                      120                                    F.1                 -   D.1                      125                                                                                     -                  245                                                              245
                      -               -                        -                                                             E.1                 -   F.1                        -                                                                                     -                    -                                                                -
                      -               -                        -                                                             F.1                 -   F.4                        -                                                                                     -                    -
                      -               -                        -                                                             F.2                 -                                                                                                                    -                    -
                      -               -                        -                                                             F.1                 -   D.1                        -                                                                                     -                    -                                                                -
                      -               -                        -                                                             I.1             8,932                                                                                                                8,932                    -                                          8,932
                    -                      -               -                                                                                                                                                                                                           -                    -
               13,346                      -       3,573,538                                                                                                                                                   K.1-3                 -                                 -            3,573,538                                                   3,573,538
                    -                      -         226,142                                                                                                                                                                                                           -              226,142                                                     226,142
               85,030                      -          85,030                                                                                                                                                                                                           -               85,030                                                      85,030
                    -                      -               -                                                                                                                        L.2                   -    K.1-3                 -                                 -                    -                                                           -
                    -                      -               -                                                                                                                        L.3                   -                                                            -                    -
                    -                      -               -                                                                                                                        L.4                   -                                                            -                    -
                1,345                      -       2,299,944                                                                 B.2        2,271,111        C.1               4,190                                                                              2,271,111         2,304,134                                                                   -
                    -                      -               -                                                                 C.1           33,023                                                                                                                33,023                 -
                    -                      -               -                                                                                                                                                                                                          -                 -
                3,000                      -         332,403                                                                                                                                                                                                          -           332,403                                                            332,403
                    -                      -               -                                                                                                                                                                                                          -                 -                                                                  -
                    -                      -          50,551                                                                                                                                                                                                          -            50,551                                                             50,551
                    -                      -               -                                                                                                                                                    L.4                  -                                -                 -                                                                  -
                    -                      -               -                                                                                                                                                                                                          -                 -                                                                  -
                    -                      -               -                                                                                                                        L.2                   -    K.1-3                 -                                -                 -                                                                  -
                    -                      -               -                                                                                                                        L.3                   -                                                           -                 -
                    -                      -               -                                                                 G.3            19,479       G.2             331,007                                                                                 19,479           331,007                                                         311,528
                    -                      -               -                                                                                                                                                    L.6               -                                   -                 -                                                               -
                    -                      -               -                                                                                                                                                    L.6         171,429                                   -           171,429                                                         171,429
                    -                      -               -                                                                                                                                                    L.6         625,000                                   -           625,000                                                         625,000
                    -                      -               -                                                                                                                                                    L.6               -                                   -                 -                                                               -
                    -                      -               -                                                                                                                                                    L.6          63,280                                   -            63,280                                                          63,280
                    -                      -               -                                                                                                                                                    L.6               -                                   -                 -                                                               -
                    -                      -               -                                                                                                                                                    L.6               -                                   -                 -                                                               -
                    -                      -               -                                                                                                                                                    L.6               -                                   -                 -                                                               -
                    -                      -          62,879                                                                                                                                                                                                          -            62,879                                                          62,879
                    -                      -               -                        11,536,000                               G.1          611,000                                   L.6          625,000                                                      1,236,000        11,536,000                                                      10,665,000
                    -                      -               -                                                                 H.1        3,000,000        H.1          3,365,000                                                                               3,000,000         3,365,000
                    -                      -               -                                                                 H.1                -        H.1                  -                                                                                       -                 -                                                               -
                    -                      -               -                                                                 H.1                -        H.1                  -                                                                                       -                 -                                                               -
                    -                      -               -                                                                 G.1                -        H.1                  -                                                                                       -                 -                                                               -
                    -                      -               -                                                                 G.1                -        H.1          1,200,000     L.6          171,429                                                        171,429         1,200,000                                                       1,028,571
                    -                      -               -                            179,755                              G.1            7,166        H.1            100,000     L.6           63,280                                                         70,446           279,755                                                         209,309
                    -                      -               -                                                                                                                        L.6                -       K.1-3                 -                                -                 -                                                               -
                    -                      -               -                            375,360                              J.1                    -     J.1             87,925    L.6                -       K.1-3                 -                                -           463,285                                                         463,285
                    -                      -               -                                                                                              J.1                  -    L.6                -       K.1-3                 -                                -                 -                                                               -
                    -                      -               -                                                                 J.1                    -     J.1                  -    L.6                -                                                              -                 -                                                               -
                    -                      -               -                                                                 J.1                    -     J.1                  -    L.6                -                                                              -                 -                                                               -
                    -                      -               -                                                                                              J.1                  -                                                                                      -                 -                                                               -
                    -                      -               -                             50,585                                                           J.1             52,578                               K.1-3                 -                                -           103,163                                                         103,163




                           5dd73b8d-fa2c-478d-bd43-8e0b93dcedae.xls
                           7/25/2011                                                                                                                                                                        Carolina County                                                                                                                                         11

                                                                                                                                                                                                      GASB 34 Conversion Worksheet
                                                                                                                                                                  to prepare the Government-wide Statements - (including adjustments and consolidations)

column on the govt funds    Grand total of major + non-major        Note 3 - Data must be Entered   Note 4 -- Entry A.1 from        Note 5: Conversion and annual accruals                 Note 6: Reclassifications, eliminations, and         Manually Posted          -- Computed --                                    --- Computed ---
ment -- computed           funds -- computed                       below to the proper accounts              Worksheet A                        Entries from Worksheets B - J                  consolidation entries - Worksheets K & L             Entries

                                      Total               Capital Assets and                           Reclassification of                                                                          Reclassifications and                     Other Misc Entries                                       Statement of                           Statement of
btotal Non-Major                Governmental Funds     Long-term Debt Accounts                        Revenues by Function                        Conversion Entries                                    Eliminations                             As Needed            Working Column                     Activities                            Net Assets
            Cr                   Dr            Cr          Dr            Cr                             Dr            Cr            Ref           Dr        Ref        Cr                Ref          Dr         Ref      Cr                   Dr           Cr       Dr            Cr                 Dr            Cr                   Dr               Cr
          377,256                     -     12,569,854 12,141,700 15,038,456                                                        G.2           331,007   B.1      2,590,150                                      K.1-3                 -                        12,472,707    30,198,460                                                            17,767,159
                 -                    -              -                                                                                                      C.1         33,023           L.8                   -     L.8                  -                                 -        33,023
                 -                    -              -                                                                                                      I.1          8,383                                                                                              -         8,383
                 -                    -              -                                                                                                                                   L.9      18,311,481                                                       18,311,481             -
                 -                    -              -                                                                                                                                                                                                                      -             -                                                    -        2,044,322
                 -                    -              -                                                                                                                                                                                                                      -             -                                           18,311,481
                 -                    -              -
                 -                    -              -
                 -                    -              -                                                                                                                                                               L.9     10,870,916                                      -       10,870,916                                                        10,870,916
                 -                    -              -                                                                                                                                                               L.9              -                                      -                -                                                                 -
                 -                    -              -                                                                                                                                                               L.9              -                                      -                -                                                                 -
                 -                    -              -                                                                                                                                                               L.9              -                                      -                -                                                                 -
                 -                    -              -                                                                                                                                                               L.9          4,578                                      -            4,578                                                             4,578
                 -                    -              -                                                                                                                                                               L.9              -                                      -                -                                                                 -
                 -                    -              -                                                                                                                                                               L.9          7,969                                      -            7,969                                                             7,969
                 -                    -              -                                                                                                                                                               L.9         13,270                                      -           13,270                                                            13,270
                 -                    -              -                                                                                                                                                               L.9         17,285                                      -           17,285                                                            17,285
                 -                    -              -                                                                                                                                                               L.9      4,483,728                                      -        4,483,728                                                         4,483,728
                 -                    -              -                                                                                                                                                               L.9              -                                      -                -                                                                 -
                 -                    -              -                                                                                                                                                               L.9              -                                      -                -                                                                 -
                 -                    -              -                                                                                                                                                               L.9              -                                      -                -                                                                 -
                 -                    -              -                                                                                                                                                               L.9      2,913,735                                      -        2,913,735                                                         2,913,735
                 -                    -              -                                                                                                                                                                                                                                                                                                          -
                      -                    -                   -                                                                                                                                                                                                                                      Proof totals for Net Assets     65,573,309       65,573,309
              20,861                       -      55,483,158                                                                        B.1        2,263,253        B.2          2,273,433                                                                              2,263,253        57,756,591                  55,493,338
             376,400                       -      13,226,224                                                                                                                                                                                                                -        13,226,224                  13,226,224
                   -                       -         276,471                                                 -                      C.1                    -    C.1                  -                                                                                      -           276,471                     276,471
                   -                       -         145,522                                                 -                      C.1                    -    C.1                  -                                                                                      -           145,522                     145,522
             756,797                       -      14,814,347                                        14,814,347                      C.1                    -    C.1                  -                                                                             14,814,347        14,814,347                           -
                   -                       -         398,938                                           398,938                      C.1                    -    C.1                  -                                                                                398,938           398,938                           -
                   -                       -       1,144,821                                         1,144,821                      C.1                    -    C.1                  -                                                                              1,144,821         1,144,821                           -
              51,949                       -       1,615,646                                            16,799                      C.1                    -    C.1                  -   L.7                   -    K.1-3                 -                            16,799         1,615,646                   1,598,847
              70,000                       -         186,284                                            74,190                      C.1                    -    C.1                  -                               L.10                 -                            74,190           186,284                     150,143
                   -                       -               -                                                                        F.1                    -    F.1                  -                                                                                      -                 -
                   -                       -               -                                                                        F.1                    -    F.2             37,500                                                                                      -            37,500
                   -                       -               -                                                                        I.1                    -    F.4                  -                                                                                      -                 -
                   -                       -               -                                                                        I.1                    -    I.1                549                                                                                      -               549
                   -                       -               -                                                     -                                                                                                                                                          -                 -                                -
                   -                       -               -                                                     -                                                                                                                                                          -                 -                                -
                   -                       -               -
                   -                       -               -
                   -                       -               -                                                              485,657   C.1                    -    C.1                  -   L.5                   -    K.1-3                 -                                  -             485,657                   485,657
                   -                       -               -                                                                    -   C.1                    -    C.1                  -                               L.7                  -                                  -                   -                         -
                      -                    -                   -                                                                -   C.1                    -    C.1                  -                               L.7                  -                                  -                    -                            -
                      -                    -                   -
                      -                    -                   -
                      -                    -                   -                                                        1,827,892   C.1                    -    C.1                  -                                                                                       -            1,827,892                1,827,892
                      -                    -                   -                                                          141,485   C.1                    -    C.1                  -                               L.7                  -                                  -              141,485                  141,485
                      -                    -                   -                                                                -   C.1                    -    C.1                  -                               L.7                  -                                  -                    -                        -
                      -                    -                   -
                      -                    -                   -
                      -                    -                   -                                                                -   C.1                    -    C.1                  -   L.5                   -                                                             -                    -                            -
                      -                    -                   -                                                                -   C.1                    -    C.1                  -                               L.7                  -                                  -                    -                            -
                      -                    -                   -                                                                -   C.1                    -    C.1                  -                               L.7                  -                                  -                    -                            -




                           5dd73b8d-fa2c-478d-bd43-8e0b93dcedae.xls
                           7/25/2011                                                                                                                                                                            Carolina County                                                                                                                                     12

                                                                                                                                                                                                          GASB 34 Conversion Worksheet
                                                                                                                                                                     to prepare the Government-wide Statements - (including adjustments and consolidations)

column on the govt funds    Grand total of major + non-major        Note 3 - Data must be Entered   Note 4 -- Entry A.1 from           Note 5: Conversion and annual accruals                   Note 6: Reclassifications, eliminations, and         Manually Posted         -- Computed --                                  --- Computed ---
ment -- computed           funds -- computed                       below to the proper accounts              Worksheet A                           Entries from Worksheets B - J                   consolidation entries - Worksheets K & L              Entries

                                      Total                           Capital Assets and               Reclassification of                                                                              Reclassifications and                      Other Misc Entries                                      Statement of                         Statement of
btotal Non-Major                Governmental Funds                 Long-term Debt Accounts            Revenues by Function                           Conversion Entries                                     Eliminations                              As Needed           Working Column                     Activities                          Net Assets
           Cr                    Dr           Cr                       Dr            Cr                 Dr            Cr               Ref           Dr        Ref                 Cr        Ref          Dr         Ref      Cr                    Dr           Cr      Dr            Cr                 Dr            Cr                 Dr                  Cr
                      -               -                        -
                      -               -                        -
                      -               -                        -                                                                   -   C.1                    -    C.1                   -                                                                                       -                  -                           -
                      -               -                        -                                                                   -   C.1                    -    C.1                   -                               L.7                   -                                 -                  -                           -
                      -                    -                   -                                                               4,190   C.1              4,190      C.1                   -                               L.7                   -                           4,190                4,190                           -
                      -                    -                   -
                      -                    -                   -
                      -                    -                   -                                                                   -   C.1                    -    C.1                   -                                                                                       -                  -                           -
                      -                    -                   -                                                                   -   C.1                    -    C.1                   -                               L.7                   -                                 -                  -                           -
                      -                    -                   -                                                                   -   C.1                    -    C.1                   -                               L.7                   -                                 -                  -                           -
                      -                    -                   -
                      -                    -                   -
                      -                    -                   -                                                         100,000       C.1                    -    C.1                   -                                                                                       -          100,000                    100,000
                      -                    -                   -                                                      12,525,137       C.1                    -    C.1                   -                               L.7                   -                                 -       12,525,137                 12,525,137
                      -                    -                   -                                                                   -   C.1                    -    C.1                   -                               L.7                   -                                 -                  -                           -
                      -                    -                   -
                      -                    -                   -
                      -                    -                   -                                                          578,373      C.1                    -    C.1                   -                                                                                       -            578,373                 578,373
                      -                    -                   -                                                                -      C.1                    -    C.1                   -                               L.7                   -                                 -                  -                       -
                      -                    -                   -                                                          102,832      C.1                    -    C.1                   -                               L.7                   -                                 -            102,832                 102,832
                      -                    -                   -
                      -                    -                   -
                      -                    -                   -                                                                -      C.1                    -    C.1                   -                                                                                       -                  -                       -
                      -                    -                   -                                                           59,470      C.1                    -    C.1                   -                               L.7                   -                                 -             59,470                  59,470
                      -                    -                   -                                                          624,059      C.1                    -    C.1                   -                               L.7                   -                                 -            624,059                 624,059
                      -                    -                   -
                      -                    -                   -
                      -                    -                   -                                                                   -   C.1                    -    C.1                   -                                                                                       -                  -                           -
                      -                    -                   -                                                                   -   C.1                    -    C.1                   -                               L.7                   -                                 -                  -                           -
                      -                    -                   -                                                                   -   C.1                    -    C.1                   -                               L.7                   -                                 -                  -                           -
                      -                    -                   -
                      -                -                       -
                      -                -                       -
                      -        6,826,696                       -                                                                       D.1           327,528       E.1              61,384   K.1-3                 -    K.1-3                  -                        7,154,224              61,384   7,080,704
                      -                -                       -                                                                       F.1                 -       I.1              50,000   L.7                   -     L.5                   -                                -              50,000
                      -                -                       -                                                                       H.1             4,643       J.1                   -   L.8                   -     L.8                   -                            4,643                   -
                      -                -                       -                                                                       J.1            33,221                                 L.10                  -                                                       33,221                   -
                      -                -                       -                                                                       F.4                 -                                                                                                                    -                   -
                      -        7,109,085                       -                                                                       D.1           400,312       E.1             233,304   L.7                   -    K.1-3                  -                        7,509,397             233,304   7,275,482
                      -                -                       -                                                                       J.1            39,389       I.1              40,000                                                                                 39,389              40,000
                      -                -                       -                                                                       F.3                 -       J.1                   -   L.8                   -     L.8                   -                                -                   -
                      -                -                       -                                                                       F.4                 -                                                                                                                    -                   -
                      -        1,138,578                       -                                                                       D.1                  -      E.1                   -   L.7                   -    K.1-3                  -                        1,138,578                   -   1,134,158
                      -                -                       -                                                                       J.1                580      I.1               5,000                               L.5                   -                              580               5,000
                      -                -                       -                                                                       F.3                  -      J.1                   -   L.8                   -     L.8                   -                                -                   -
                      -                -                       -                                                                       F.4                  -                                                                                                                   -                   -
                      -        1,316,929                       -                                                                       D.1              8,006      E.1             174,366   L.7                   -    K.1-3                  -                        1,324,935             174,366   1,136,399
                      -                -                       -                                                                       J.1              3,246      I.1              17,416                                                                                  3,246              17,416
                      -                -                       -                                                                       F.3                  -      J.1                   -   L.8                   -     L.8                   -                                -                   -
                      -                -                       -                                                                       F.4                  -                                                                                                                   -                   -




                           5dd73b8d-fa2c-478d-bd43-8e0b93dcedae.xls
                           7/25/2011                                                                                                                                                                        Carolina County                                                                                                                                                13

                                                                                                                                                                                                      GASB 34 Conversion Worksheet
                                                                                                                                                                 to prepare the Government-wide Statements - (including adjustments and consolidations)

column on the govt funds    Grand total of major + non-major        Note 3 - Data must be Entered   Note 4 -- Entry A.1 from       Note 5: Conversion and annual accruals                   Note 6: Reclassifications, eliminations, and         Manually Posted               -- Computed --                                     --- Computed ---
ment -- computed           funds -- computed                       below to the proper accounts              Worksheet A                       Entries from Worksheets B - J                   consolidation entries - Worksheets K & L              Entries

                                      Total                           Capital Assets and               Reclassification of                                                                          Reclassifications and                      Other Misc Entries                                               Statement of                         Statement of
btotal Non-Major                Governmental Funds                 Long-term Debt Accounts            Revenues by Function                       Conversion Entries                                     Eliminations                              As Needed                 Working Column                        Activities                          Net Assets
           Cr                    Dr           Cr                       Dr            Cr                 Dr            Cr           Ref           Dr        Ref                 Cr        Ref          Dr         Ref      Cr                    Dr           Cr            Dr            Cr                    Dr            Cr                 Dr                  Cr
                      -               -                        -                                                                   D.1                 -   E.1                       -   L.7                -   K.1-3                      -                                     -                      -                            -
                      -               -                        -                                                                   J.1                 -   I.1                       -                                                                                           -                      -
                      -               -                        -                                                                   F.3                 -   J.1                       -   L.8                   -     L.8                   -                                     -                      -
                      -               -                        -                                                                   F.4                 -                                                                                                                         -                      -
                      -      22,419,822                        -                                                                   D.1           405,649       E.1             461,140   L.7                   -    K.1-3                  -                             22,825,471              461,140    22,424,065
                      -               -                        -                                                                   J.1            62,734       I.1               3,000                                                                                       62,734                3,000
                      -               -                        -                                                                   F.3                 -       J.1                   -   L.8                   -     L.8                   -                                      -                    -
                      -               -                        -                                                                   F.4                 -                                                                                                                          -                    -
                      -        2,308,240                       -                                                                   D.1            71,571       E.1              20,325   L.7                   -    K.1-3                  -                              2,379,811               20,325     2,353,261
                      -                -                       -                                                                   J.1             1,333       I.1               7,558                                                                                        1,333                7,558
                      -                -                       -                                                                   F.3                 -       J.1                   -   L.8                   -     L.8                   -                                      -                    -
                      -                -                       -                                                                   F.4                 -                                                                                                                          -                    -
                      -      41,418,016                        -                                                                   D.1                -        E.1                   -   L.7                   -    K.1-3                  -                             41,418,016                     -   43,118,616
                      -               -                        -                                                                   J.1                -        I.1                   -                                                                                            -                     -
                      -               -                        -                                                                   F.3        1,700,600        J.1                   -   L.8                   -     L.8                   -                              1,700,600                     -
                      -               -                        -                                                                   F.4                -                                                                                                                           -                     -
                      -                    -                   -                                                                   D.1                    -    E.1                   -   L.7                   -    K.1-3                  -                                       -                    -                            -
                      -                    -                   -                                                                   J.1                    -    I.1                   -                                                                                             -                    -
                      -                    -                   -                                                                   F.3                    -    J.1                   -   L.8                   -     L.8                   -                                       -                    -
                      -                    -                   -                                                                   F.4                    -                                                                                                                        -                    -
                      -        1,846,696                       -                                                                                               E.1             146,096                                                                                    1,846,696               146,096                            -
                                                                                                                                                               F.3           1,700,600                                                                                            -             1,700,600


                      -          618,166                       -                                                                                               G.1             618,166                                                                                     618,166               618,166                             -
                      -          692,904                       -                                                                   H.1            22,500       G.3              19,479   K.1-3                 -     L.7                   -                               715,404                19,479      695,925
                      -           65,000                       -                                                                                               H.1              65,000                                                                                      65,000                65,000                             -
                      -           15,000                       -                                                                                               H.1              15,000                                                                                      15,000                15,000                             -
                      -                    -                   -                                                                   D.1                    -                                                                                                                        -                    -                            -



             270,000                   -             889,059                                                                                                   F.2                   -   L.1       1,139,675        K.1-3             -                                   1,139,675               889,059     250,616
                   -             989,059                   -                                                                       F.1                -                                  K.1-3             -         L.1      1,139,675                                     989,059             1,139,675                  150,616
                   -                   -             100,000                                                                       H.1          100,000                                                                                                                     100,000               100,000                        -
           1,200,000                   -           1,200,000                                                                       H.1        1,200,000                                                                                                                   1,200,000             1,200,000                        -
                   -                   -           3,365,000                                                                       H.1        3,365,000                                                                                                                   3,365,000             3,365,000                        -
                   -                   -                   -                                                                       H.1                -                                                                                                                           -                     -                        -
                   -                   -                   -                                                                                                   H.1                   -                                                                                            -                     -                        -
                   -           3,300,000                   -                                                                                                   H.1           3,300,000                                                                                    3,300,000             3,300,000                        -
                   -                   -              28,482                                                                       F.1            28,482                                                                                                                     28,482                28,482                        -
                   -                   -                   -                                                                       F.4                 -                                                                                                                          -                     -                        -
                   -                   -                   -                                                                       I.1                 -                                                                                                                          -                     -                        -
                   -                   -             122,974                                                                       I.1           122,974                                                                                                                    122,974               122,974                        -



                      -                    -                   -                                                                   J.1                    -     J.1                  -   L.10                  -                                                                   -                    -                            -
                      -                    -                   -                                                 -                 J.1                    -     J.1                  -                                                                                             -                    -                            -
                      -                    -                   -                                                                   F.4                    -                                                                                                                        -                    -
                      -                    -                   -                                                 -             -   F.1                    -    F.1              27,482                                                                                             -              27,482                    27,482
                      -                    -                   -                                                                                               F.2                   -                                                                                             -                   -
                      -                    -                   -                                                               -                               F.4                   -                                                                                             -                   -                             -

           3,225,984        112,197,267         112,197,267         33,995,803        33,995,803    16,449,095        16,449,095             18,433,831                     18,433,831            20,310,865                 20,310,865               -             -   201,386,861       201,386,861       85,469,226   87,513,548        131,146,618       131,146,618
                   -                                      -
                                                                                                                                                                                                                                                                                                             2,044,322               -
                                                                                                                                                                                                                                                                                                            87,513,548   87,513,548
                      -                                        -

                           5dd73b8d-fa2c-478d-bd43-8e0b93dcedae.xls
                           7/25/2011                                                                                                                                                               Carolina County                                                                                                                      14

                                                                                                                                                                                             GASB 34 Conversion Worksheet
                                                                                                                                                             to prepare the Government-wide Statements - (including adjustments and consolidations)

column on the govt funds    Grand total of major + non-major        Note 3 - Data must be Entered   Note 4 -- Entry A.1 from   Note 5: Conversion and annual accruals             Note 6: Reclassifications, eliminations, and     Manually Posted       -- Computed --                      --- Computed ---
ment -- computed           funds -- computed                       below to the proper accounts              Worksheet A                   Entries from Worksheets B - J              consolidation entries - Worksheets K & L         Entries

                                      Total                           Capital Assets and               Reclassification of                                                                 Reclassifications and                 Other Misc Entries                        Statement of                         Statement of
btotal Non-Major                Governmental Funds                 Long-term Debt Accounts            Revenues by Function                   Conversion Entries                                Eliminations                         As Needed          Working Column        Activities                          Net Assets
           Cr                    Dr           Cr                       Dr            Cr                 Dr            Cr       Ref           Dr        Ref                 Cr   Ref          Dr         Ref      Cr               Dr           Cr     Dr            Cr    Dr            Cr                 Dr                  Cr
                      -                                        -
                      -                                        -                                                                                                                                                                                                                                                                    -




                           5dd73b8d-fa2c-478d-bd43-8e0b93dcedae.xls
                                                                                                                                                                               Entry A


                                                                   Revenue Reclassification by Function
                   Program revenues must be reclassified for presentation on the Statement of Activities to report revenues by function (program). Ad valorem
                   taxes and other revenues that will be classified as general revenue will not be affected in this entry. These program revenues will be categorized
                   into 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 at the recipient's discretion.
                   1.      See Memo # 964 for the proper classification of revenue sources to operating, capital or charges for service.
                   2.      Examine the trial balance and summary reports of revenues by function and by source code to determine which revenue items need to be
                           reclassified. If units do not have a chart of accounts that breaks out revenues by functional source codes, a manual classification of
                           revenues must be prepared. A worksheet to assist you is available at this website.
                   3.      Complete section A below indicating the amount of revenue in all governmental funds which should be noted as program specific on the
                           Statement of Activities. Note that items that are classified as special or extraordinary at the fund level typically will be classified as such
                           when viewed at the government-wide level although there could be rare occurrences when special and/or extraordinary items at the fund
                           level will not be treated as such on the government-wide statements.
                   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.
                   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 capital asset are classified as capital. If no capital asset results, the
                           revenue should be classified as operating.


                   From the financial records, determine the amount in the following categories that must be reclassified to functional revenues,
                   special or extraordinary items. Also, include any items that were special or extraordinary items at the fund level that will be general
             A.    revenues in the government-wide statements.

                           Modified Accrual Revenue Class                     Amount
                           Other taxes and licenses                                 -
                           Unrestricted intergovernmental                           -
                           Restricted intergovernmental                      14,814,347
                           Permits and Fees                                     398,938
                           Sales and services                                 1,144,821
                           Investment Earnings                                   16,799
                           Miscellaneous                                         74,190
                           Other revenue 1                                          -
                           Other revenue 2                                          -
                           Special item - fund statements                           -
                           Extraordinary item - fund statements                     -

                                Total revenue to be reclassified           $ 16,449,095


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

                                                                              Amount
                           General government
                              Charges for services                              485,657
                              Operating grants and contributions                    -
                              Capital grants and contributions
                           Public safety
                               Charges for services                           1,827,892
                               Operating grants and contributions               141,485
                               Capital grants and contributions                     -
                           Transportation
                               Charges for services
                               Operating grants and contributions                    -
                               Capital grants and contributions                      -
                           Economic and Physical Development
                               Charges for services                                  -
                               Operating grants and contributions                    -
                               Capital grants and contributions                    4,190
                           Environmental Protection
                               Charges for services                                  -
                               Operating grants and contributions                    -
                               Capital grants and contributions                      -
                           Human Services
                              Charges for services                              100,000
                              Operating grants and contributions             12,525,137
                              Capital grants and contributions                      -




7/25/2011 - County model                                                                                                                                                            15
                                                                                                                                                                                 Entry A


                                                                   Revenue Reclassification by Function
                           Cultural and recreation
                                Charges for services                             578,373
                                Operating grants and contributions                   -
                                Capital grants and contributions                 102,832
                           Education
                               Charges for services                                  -
                               Operating grants and contributions                 59,470
                               Capital grants and contributions                  624,059
                           Other program 1
                               Charges for services                                   -
                               Operating grants and contributions                     -
                               Capital grants and contributions                       -
                           Special items - government-wide                            -
                           Extraordinary items - government-wide                      -


                               Total program revenues                       $ 16,449,095




             C.    Journal entry for conversion worksheet to reclassify revenue to functional categories: [Entry A.1]

                                                                                                                          Debit                 Credit
                   Other taxes and licenses                                                                                      -
                   Unrestricted intergovernmental                                                                                -
                   Restricted intergovernmental                                                                           14,814,347
                   Permits and Fees                                                                                          398,938
                   Sales & Services                                                                                        1,144,821
                   Investment earnings*                                                                                       16,799
                   Miscellaneous                                                                                              74,190
                   Other revenue 1                                                                                               -
                   Other revenue 2                                                                                               -
                   Special item                                                                                                  -
                   Extraordinary item                                                                                            -
                       General government - Charges for services                                                                                   485,657
                       General government - Operating grants and contributions                                                                         -
                       General government - Capital grants and contributions                                                                           -
                       Public safety - Charges for services                                                                                      1,827,892
                       Public safety - Operating grants and contributions                                                                          141,485
                       Public safety - Capital grants and contributions                                                                                -
                       Transportation - Charges for services                                                                                           -
                       Transportation - Operating grants and contributions                                                                             -
                       Transportation - Capital grants and contributions                                                                               -
                       Economic and physical development - Charges for services                                                                        -
                       Economic and physical development - Operating grants and contributions                                                          -
                       Economic and physical development - Capital grants and contributions                                                          4,190
                       Environmental protection - Charges for services                                                                                 -
                       Environmental protection - Operating grants and contributions                                                                   -
                       Environmental protection - Capital grants and contributions                                                                     -
                       Human services - Charges for services                                                                                       100,000
                       Human services - Operating grants and contributions                                                                      12,525,137
                       Human services - Capital grants and contributions                                                                               -
                       Cultural and recreation - Charges for services                                                                              578,373
                       Cultural and recreation - Operating grants and contributions                                                                    -
                       Cultural and recreation - Capital grants and contributions                                                                  102,832
                       Education - Charges for services                                                                                                -
                       Education - Operating grants and contributions                                                                               59,470
                       Education - Capital grants and contributions                                                                                624,059
                       Other program 1 - Charges for services                                                                                          -
                       Other program 1 - Operating grants and contributions                                                                            -
                       Other program 1 - Capital grants and contributions                                                                              -
                       Special item (revenue)                                                                                                          -
                       Extraordinary item (revenue)                                                                                                    -

                                                                                                                          16,449,095            16,449,095



                           * 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.




7/25/2011 - County model                                                                                                                                                              16
                                                                                                                                                  Entry B



                                Adjust Property Tax Revenue From Modified Accrual to Full Accrual

        Revenues must be adjusted to the full accrual basis of accounting on the Statement of Activities. Under modified accrual, taxes must be both
        measurable and available (for full accrual they are measurable and earned.) This means that some revenue received in the current year may have
        actually been earned in the prior year and some revenue deferred for the current year due to unavailability may actually be earned for full accrual.
        Taxes collected in advance of the period the taxes are intended to finance will be "unearned revenue" under both full and modified accrual. Estimates
        for uncollectibles is the same for both methods, if material.

        See Memos # 949 and #964 for discussion of the proper recognition of revenue under modified accrual and full accrual for GASB 33 and 34.
        1.   Determine beginning of year balances for deferred revenue and accrued interest receivable of ad valorem taxes. Enter those amounts in
             section A below.
        2.   Determine end of year balances for deferred revenue and accrued interest receivable on ad valorem taxes. Enter those amounts in section B
             below.
        3.   The following entries will be done in two stages. The first journal entry will reverse the beginning of year entry and restate fund balance. The
             second entry will reverse the ending balance and recognize revenue on the full accrual basis. It is posted only to the conversion worksheet,
             not to the general ledger or accounting system. Unearned revenue for prepaid taxes at year end will not be adjusted.
        4.   Under the full accrual basis of accounting, accrued interest on uncollected taxes should be recognized as revenue after adjusting for
             uncollectible amounts. It may be necessary to estimate the amount of that receivable. Penalties that are known at year-end should already be
             recorded in taxes receivable. Penalties related to discoveries should be recorded when the discovery occurs.

        What was the amount in deferred tax receipts at the beginning of the year? - (Exclude prepaid taxes.)
A.      What was the amount of accrued interest receivable on tax receipts at the beginning of the year?

        Both amounts should be net of estimated uncollectible amounts.
                                                                      Amount
        Ad Valorem taxes:
            Deferred revenue (ad valorem tax) - "beginning of year" $ 2,263,253
             Accrued interest rec. on ad valorem - "beginning of year"      326,897

                                                                         $ 2,590,150




        What was amount in deferred tax receipts at the end of the year? - (Exclude prepaid taxes.)
B.      What was the amount of accrued interest receivable on tax receipts at the end of the year?

        Both amounts should be net of estimated uncollectible amounts.
                                                                          Amount
        Ad Valorem taxes:
            Deferred revenue (ad valorem tax) - "end of year"            $ 2,271,111
             Accrued interest rec. on ad valorem - "end of year"            329,219

                                                                         $ 2,600,330




C.      Final Entry for Conversion Worksheet [Entry B.1 and B.2]


                                                                                                Debit               Credit
B.1     Taxes - ad valorem*                                                                      2,263,253
        Accrued interest receivable on taxes                                                       326,897
            Fund Balance - beginning                                                                                 2,590,150
B.2     Deferred Revenues*                                                                       2,271,111
        Accrued interest receivable on taxes                                                         2,322
            Taxes - Ad valorem*                                                                                      2,273,433

                                                                                                 4,863,583           4,863,583

        *    Includes penalties




     7/25/2011 - County model                                                                                                                            17
                                                                                                                                                                          Entry C


                                            Adjust Other Revenues From Modified Accrual to Full Accrual

                 In addition to ad valorem taxes, other revenues must be adjusted to reflect the full accrual basis of accounting on the Statement of Activities. The
                 availability criteria is not considered for revenue recognition under full accrual accounting. This means that some deferred revenue at year end under
                 modified accrual will be recognized as revenue under full accrual on the Statement of Activities. Also, revenues recorded under modified accrual in
                 the current year which were deferred from the prior year were already recognized as revenue under full accrual in the prior year. Receipts that have
                 not been earned at year end will not be recognized as revenue under the full accrual basis of accounting.
                 It is presumed that deferred revenues not recorded on the fund's modified accrual statements because of materiality, will not be material on the
                 government-wide statements. A work section, presented in this spreadsheet following the final entry, shows the individual entries for each section in
                 Worksheet C. It is not included in the normal print range. If you wish to print the work section, you will need to adjust the print range.

                 See Memos # 949 and # 964 for a discussion of the proper recognition of revenue under modified accrual and full accrual for GASB 33 and 34.
                 1.   Determine ending balance from prior fiscal year (or beginning of year balances) in deferred revenue for each revenue source below. Enter the
                      amount in question 1 of each section below.
                 2.   Determine end of current year balances for deferred revenue for all revenue sources listed below. Enter those amounts for question 2 in each
                      section below.
                 3.   Determine the function / program to which the revenue applies for those revenues which are program specific. Note that special assessments in
                      section F. and G. have additional questions regarding new levies for the current year and current year collections.
                 4.   The conversion journal entry in section J. will reverse the beginning and ending of year deferral in the trial balance. It is posted only to the
                      conversion worksheet, not to the general ledger or accounting system.


           A.    Beer and Wine Excise Tax (Unrestricted intergovernmental for Modified Accrual -- Unrestricted - General for Full Accrual)

                                                                                                                                   Amount

                 1.   Indicate the amount of beer and wine excise tax included in deferred revenue utilizing the modified
                      accrual basis of accounting at the end of the prior year.
                 2.   Indicate the amount of beer and wine excise tax included in deferred revenue utilizing the modified
                      accrual basis of accounting at the end of the current year.



           B.    Piped Natural Gas Tax (Unrestricted intergovernmental for Modified Accrual -- Unrestricted - General for Full Accrual)

                                                                                                                                   Amount

                 1.   Indicate the amount of piped natural gas tax included in deferred revenue utilizing the modified
                      accrual basis of accounting at the end of the prior year.
                 2.   Indicate the amount of piped natural gas tax included in deferred revenue utilizing the modified
                      accrual basis of accounting at the end of the current year.



           C.    Controlled Substance Abuse Tax (Restricted governmental for Modified Accrual -- Public Safety - operating for Full Accrual)

                                                                                                                                   Amount

                 1.   Indicate the amount of controlled substance tax included in deferred revenue utilizing the modified
                      accrual basis of accounting at the end of the prior year.
                 2.   Indicate the amount of controlled substance tax included in deferred revenue utilizing the modified
                      accrual basis of accounting at the end of the current year.



           D.    Utility Franchise Tax (Unrestricted governmental for Modified Accrual -- Unrestricted - General for Full Accrual)

                                                                                                                                   Amount

                 1.   Indicate the amount of utility franchise tax included in deferred revenue utilizing the modified
                      accrual basis of accounting at the end of the prior year.
                 2.   Indicate the amount of utility franchise tax included in deferred revenue utilizing the modified
                      accrual basis of accounting at the end of the current year.



           E.    Telecommunications Tax (Unrestricted governmental for Modified Accrual -- Unrestricted - General for Full Accrual)

                                                                                                                                   Amount

                 1.   Indicate the amount of Telecommunications tax included in deferred revenue utilizing the modified
                      accrual basis of accounting at the end of the prior year.

                 2.   Indicate the amount of Telecommunications tax included in deferred revenue utilizing the modified
                      accrual basis of accounting at the end of the current year.




7/25/2011 - County model                                                                                                                                                       18
                                                                                                                                                         Entry C


                                            Adjust Other Revenues From Modified Accrual to Full Accrual


                 Special Assessments - Assessment results in ownership of an asset - (Miscellaneous Revenue for Modified Accrual)
           F.                                                                      (Program Revenue - Capital grants & contributions for Full Accrual)

                                                                                                                                       Amount
                 1.   Indicate the amount of special assessments included in deferred revenue utilizing the modified
                      accrual basis of accounting at the end of the prior year.                                                           33,023
                 2.   Add any additional assessments made in the current year in the cell to the right.                                         -   j
                 3.   Enter the amount of the new levy in the function below where the proceeds will be/have been
                      expended. The sum below must equal the amount in step 2.
                                                                                                           Amount
                                             General government
                                             Transportation
                                             Economic & physical development
                                             Environmental protection
                                             Education
                                             Other program 1

                                                                                                      j                 -

                 4.   Indicate the amount of special assessments included in deferred revenue utilizing the modified
                      accrual basis of accounting at the end of the current year.                                                         28,833
                                                                                     Current year collections                              4,190    k

                 5.   Enter the amount of the current year collections in the function where the proceeds will be/have
                      been expended. The sum of the amounts entered must equal the calculated amount for current
                      collections.
                                                                                                             Amount
                                             General government
                                             Transportation
                                             Economic & physical development                                        4,190
                                             Environmental protection
                                             Education
                                             Other program 1
                                                                                                    k               4,190

                      Entry prepared assuming that Special Assessments were charged appropriately to program revenue in worksheet A.


                 Special Assessments - No new asset on unit's books - (Miscellaneous revenue for Modified Accrual)
           G.                                                                (Program revenue - charge for service for Full Accrual)
                                                                                                                                       Amount
                 1.   Indicate the amount of special assessments included in deferred revenue utilizing the modified
                      accrual basis of accounting at the end of the prior year.

                 2.   Add any additional assessments made in the current year in the cell to the right.

                 3.   Enter the amount of the new levy in the function below where the proceeds will be/have been
                      expended. The sum below, must equal the amount listed in step 2 above.
                                                                                                           Amount
                                             General government
                                             Transportation
                                             Economic & physical development
                                             Environmental protection
                                             Education
                                             Other program 1
                                                                                                      l                 -

                 4.   Indicate the amount of special assessments included in deferred revenue utilizing the modified
                      accrual basis of accounting at the end of the current year.
                                                                                     Current year collections                                   -   m

                 5.   Enter the amount of current year collections in the function where the proceeds will be/have been
                      expended. The sum of the amounts entered must equal the calculated amount for current
                      collections.
                                                                                                             Amount
                                            General government
                                            Transportation
                                            Economic & physical development
                                            Environmental protection
                                            Education
                                            Other program 1

                                                                                                      m                 -
                      Entry prepared assuming that Special Assessments were charged appropriately to program revenue in worksheet A.




7/25/2011 - County model                                                                                                                                      19
                                                                                                                                                                       Entry C


                                              Adjust Other Revenues From Modified Accrual to Full Accrual


           H.    Other revenues not previously covered that require adjustment from modified to full accrual - including misc. charges, services & fees

                 Review the different revenue accounts - any amounts earned but not available under modified accrual should be adjusted if not previously covered in
                 this worksheet or in the Property Taxes Revenue worksheet ( Worksheet B.) Any amount not earned at year end would not be adjusted.
                                                                                                                             Amount

                 1.   Indicate the amount of other revenues included in deferred revenue utilizing the modified accrual                        n
                      basis of accounting at the end of the prior year that were not recognized as revenue because they
                      were not considered available. Also, indicate by amount the appropriate full accrual revenue
                      classification.
                                                                           Misc. Rev.
                                                                           not program   Charges for   Operating Grants     Capital grants &
                                                                             specific     Services *   & Contributions       contributions
                                                                                           Amount          Amount               Amount
                      General government
                      Public Safety
                      Transportation
                      Economic & physical development
                      Environmental protection
                      Human services
                      Cultural and recreation
                      Education
                      Other program 1
                      Miscellaneous revenue - not program specific                           N/A              N/A                 N/A
                                                                                 -                 -                -                    -     n                 -

                 * would include sales and services and permits and fees


                 2.   Indicate the amount of other revenues included in deferred revenue utilizing the modified accrual
                      basis of accounting at the end of the current year that were not recognized as revenue because
                      they were not considered available. Be careful not to duplicate deferred revenues that have been
                      handled in previous entries.                                                                                             o

                 3.   Indicate by amount the appropriate full accrual revenue classification. The sum of amounts in step
                      3 must equal the amount in step 2.
                                                                           Misc. Rev.
                                                                           not program   Charges for   Operating Grants     Capital grants &
                                                                             specific     Services *   & Contributions       contributions
                                                                                           Amount          Amount               Amount
                      General government
                      Public Safety
                      Transportation
                      Economic & physical development
                      Environmental protection
                      Human services
                      Cultural and recreation
                      Education
                      Other program 1
                      Miscellaneous revenue - not program specific                           N/A              N/A                 N/A
                                                                                 -                 -                -                    -     o                 -


                 * would include sales and services and permits and fees



           I.    Investment Earnings


                 1.   What was the accrued investment earnings at the end of the prior year?

                 2.   What are the accrued investment earnings at the end of the current year?
                      Any investment earnings that should be reclassified as program revenue will be adjusted in worksheet L.




7/25/2011 - County model                                                                                                                                                    20
                                                                                                                                               Entry C


                                             Adjust Other Revenues From Modified Accrual to Full Accrual


           J.    Final Entry for Conversion Worksheet [Entry C.1]
                                                                                                                Debit             Credit
           C.1 Accrued interest receivable                                                                             -
               Deferred revenue                                                                                     33,023             4,190
                 Other taxes and licenses                                                                              -                 -
                 Intergovernmental - unrestricted                                                                      -                 -
                 Intergovernmental - restricted                                                                        -                 -
                 Permits and fess                                                                                      -                 -
                 Sales and services                                                                                    -                 -
                 Miscellaneous                                                                                         -                 -
                 Investment earnings                                                                                   -                 -
                 General government - charge for service                                                               -                 -
                 Public Safety - charge for service                                                                    -                 -
                 Transportation - charge for service                                                                   -                 -
                 Economic & physical development - charge for service                                                  -                 -
                 Environmental protection - charge for service                                                         -                 -
                 Human services - charge for service                                                                   -                 -
                 Cultural and recreation - charge for service                                                          -                 -
                 Education - charge for service                                                                        -                 -
                 Other program 1 - charge for service                                                                  -                 -
                 General government - operating grants & contributions                                                 -                 -
                 Public Safety - operating grants & contributions                                                      -                 -
                 Transportation - operating grants & contributions                                                     -                 -
                 Economic & physical development - operating grants & contributions                                    -                 -
                 Environmental protection - operating grants & contributions                                           -                 -
                 Human services - operating grants & contributions                                                     -                 -
                 Cultural and recreation - operating grants & contributions                                            -                 -
                 Education - operating grants & contributions                                                          -                 -
                 Other program 1 - operating grants & contributions                                                    -                 -
                 General government - capital grants & contributions                                                   -                 -
                 Public Safety - capital grants & contributions                                                        -                 -
                 Transportation - capital grants and contributions                                                     -                 -
                 Economic & physical development - capital grants & contributions                                    4,190               -
                 Environmental protection - capital grants & contributions                                             -                 -
                 Human services - capital grants & contributions                                                       -                 -
                 Cultural and recreation - capital grants & contributions                                              -                 -
                 Education - capital grants & contributions                                                            -                 -
                 Other program 1 - capital grants & contributions                                                      -                 -
                      Fund balance - beginning                                                                         -              33,023
                                                                                                                    37,213            37,213

                 Entry prepared assuming that Special Assessments were charged appropriately to program revenue in worksheet A.




7/25/2011 - County model                                                                                                                            21
                                                                                                                                                                            Entry D



                                                             Recording Depreciation Expense
      Depreciation expense must be calculated and reported in relation to all of the unit's depreciable capital assets. Some units may have a capital asset software
      system that can easily calculate annual depreciation expense. Others may need to calculate the expense manually. This function has previously been done
      for all the proprietary or business-type activities funds. It will now be expanded to general capital assets. The challenge may be the requirement to record the
      expense by function, e.g. the depreciation for police cars must be charged to public safety. If function or department codes are not currently in the capital
      asset system, perhaps location can identify the function. Capital assets that can be specifically identified with a function or program will have their depreciation
      charged respectively. For those units that prepare CAFRs the capital asset schedules required for that publication should give you helpful information about
      classifying your capital assets by function.
      Depreciation for shared capital assets should be allocated over the functions/programs based on usage, square footage, etc. Depreciation for capital assets
      that essentially serve all functions can be reported as a separate line entitled "unallocated depreciation" or charged to General Government. Unallocated
      depreciation should be a rare exception. The depreciation on infrastructure must follow the same principles and be charged to the function where repairs and
      maintenance are charged, e.g., the depreciation on streets would be charged to Transportation. Please remember that depreciation must be posted to the
      unit's permanent accounts in order to correctly reflect next year's beginning balances, but will not be shown in the fund statements.
      See Memo #934 for further discussion of depreciation particularly as related to long lived assets like infrastructure. Note that infrastructure previously held
      does not have to be recorded in year 1 of implementation, for governments implementing in 2002 (phase 1) or 2003 (phase II). These phase I and II
      governments have 4 years to get all their existing infrastructure properly recorded. Governments implementing in 2004 (phase III) are not required to record
      their old infrastructure. All governments must begin to record new additions to infrastructure in year 1 of implementation.
      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 General Government or the unallocated depreciation line (use of "unallocated depreciation" will typically be the exception).

      2. Identify the proper asset class to which the depreciation should be recorded 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.


A.    Indicate the annual depreciation expense by function:
                                                                         Annual
                                                                       Depreciation
                                                                        Expense
          General Government                                                327,528
          Public Safety                                                     400,312
          Transportation                                                        -
          Economic & physical development                                     8,006
          Human Services                                                    405,649
          Environmental protection                                              -
          Cultural & recreation                                              71,571
          Education
          Other program 1
          Unallocated depreciation

                                                                          1,213,066


B. Indicate the appropriate asset class for the depreciation amount computed in section A above.

                                                                         Annual
                                                                       Depreciation
          Buildings                                                         725,792
          Improvements                                                       92,600
          Equipment                                                         196,132
          Vehicles + Mot. Equip                                             172,400
          Infrastructure                                                     26,017
          Computer Software                                                     125
          Other asset class 1                                                   -
                                                                          1,213,066



C. Entry for Conversion worksheet to record depreciation expense.                   [Entry D.1]

                                                                                                               Debit              Credit
D.1 General Government                                                                                          327,528
      Public Safety                                                                                             400,312
      Transportation                                                                                                -
      Economic & physical development                                                                             8,006
      Human Services                                                                                            405,649
      Environmental protection                                                                                      -
      Cultural & recreation                                                                                      71,571
      Education                                                                                                     -
      Other program 1                                                                                               -
      Unallocated depreciation                                                                                      -
          Accum. Depreciation - Buildings                                                                                           725,792
          Accum. Depreciation - Improvements                                                                                         92,600
          Accum. Depreciation - Equipment                                                                                           196,132
          Accum. Depreciation - Vehicles + Mot. Equip                                                                               172,400
          Accum. Depreciation - Infrastructure                                                                                       26,017
          Accum. Depreciation - other asset class 1                                                                                     125
          Accum. Depreciation - other asset class 2                                                                                     -
                                                                                                              1,213,066           1,213,066


7/25/2011 - County model                                                                                                                                                         22
                                                                                                                                                                  Entry E


                              Adjust Capital Outlay Expenditures Under Modified Accrual to Full Accrual
                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. The capital assets acquired in
                these transactions will be added to the amounts previously recorded when the Capital Assets were entered on the conversion worksheet.
                Note that all expenditures for capital assets may not have been coded as capital outlay so a careful review of expenditures is needed to find
                all transactions related to capital assets such as expenditures for land or infrastructure coded as street improvements.
                Also be aware that some expenditures may fall below the capitalization threshold that the Governing Board has set for your unit. If certain
                purchases fall below the capitalization threshold, a legitimate balance may remain in Capital Outlay after this adjustment. For example, if the
                unit has chosen $1,000 as the minimum for capitalization, then any items purchased costing less than that amount would remain as an
                expenditure with no addition made to the various capital asset accounts. 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, including capital projects, and identify capital outlay expenditures that should be capitalized
                     and recorded as capital assets in the county's permanent records . Accumulate by function for entry to Section A below. The amount
                     for capital outlay for schools or other parties where title to the property is not held by the county will be excluded from this entry and
                     reclassified as a functional expenditure in worksheet F.
                2.   Determine the asset categories for which the expenditures noted in Section A were made and enter amounts by asset class. The total
                     amount for section A and B should be equal.
                3.   The journal entry for the conversion worksheet, to reclassify these expenditures as capital assets, will be automatically created.
                What was the amount of capital outlay to be capitalized by function in all governmental funds? This includes expenditures related
          A.    to impairment losses.
                                                                  Amount
                     General Government                              61,384
                     Public Safety                                  233,304
                     Transportation                                     -
                     Economic & physical development                174,366
                     Environmental protection                           -                   It is assumed that the balance at the beginning of the year for
                     Human Services                                 461,140                 construction in progress for projects that were completed during
                     Culture and Recreation                          20,325                 the year has been reclassified to the appropriate category.
                     Capital Outlay (capital projects)              146,096
                     Education
                     Other program 1
                                                                  1,096,615



          B.    What was the amount to be capitalized by asset class?
                                                            Amount
                     Land                                               -
                     Construction in progress                       146,096
                     Buildings                                       92,650                 Any expenditures during the year on completed projects at year
                     Other Improvement                               43,000                 end should be recorded in the appropriate category rather than in
                     Equipment                                      575,666                 construction in progress.
                     Vehicles and motorized equipment               239,203
                     Infrastructure (e.g. street improvements)          -
                     Other asset class 1                                -
                     Other asset class 2
                                                                  1,096,615



          C.    Journal entry for conversion worksheet to capitalize capital outlay expenditures. [Entry E.1]
                                                                                                                         Debit           Credit
                                  E.1          Land                                                                          -
                                               Construction in Progress                                                  146,096
                                               Buildings                                                                  92,650
                                               Other Improvement                                                          43,000
                                               Equipment                                                                 575,666
                                               Vehicles and motorized equipment                                          239,203
                                               Infrastructure                                                                -
                                               Other asset class 1                                                           -
                                               Other asset class 2                                                           -
                                                     General Government                                                                    61,384
                                                     Public Safety                                                                        233,304
                                                     Transportation                                                                           -
                                                     Economic and Physical Development                                                    174,366
                                                     Environmental Protection                                                                 -
                                                     Human Resources                                                                      461,140
                                                     Cultural & Recreation                                                                 20,325
                                                     Capital Outlay                                                                       146,096
                                                     Education                                                                                -
                                                     Other program 1                                                                          -
                                                                                                                       1,096,615        1,096,615




7/25/2011 - County model                                                                                                                                               23
                                                                                                                                                                                                                                                 Entry F


                                                                                      Adjust Other Capital Asset 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, trade-ins or the scrapping of fully depreciated assets, and the donations of capital assets. Please be aware that in addition to posting to the conversion worksheets, capital assets 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. Depreciation expense was calculated in a previous worksheet.)
          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.
          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
          3. Trade-in's of equipment or vehicles should also be recorded and they are 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 number would be placed in the field for the same asset class "vehicles", however if a
             vehicle is traded for equipment place the number 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 related accumulated depreciation. Enter amounts by asset class in section C.
          5. Donations of assets and transfers in from an enterprise or internal service fund reported as business-type activity, are 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 reflected as revenue and as an increase to the specific asset account. The revenue amount will be reflected in
             "miscellaneous general revenues" or as a special item if appropriate. The transfers in of capital assets from business type activities must be reported as transfers. Enter amounts in section D below.
          6. Expenditures for capital outlay where title is held by other parties must be reclassified as a functional expenditure. A prime example of this situation is the expenditure for school construction where the Board of Education
             holds title to the property. In Section E, indicate the amount of capital outlay that must be reclassified and indicate the function to which it should be charged.
          7. The work section of this worksheet following section F compiles the data for the final entries in section F. Entry F.1 is for disposals; entry F.2 is to record the revenue when assets are donated to the unit; entry F.3 is to
             reclassify capital outlay expenditures to the proper function when title to the asset is not held by the county. 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 it needs to be printed.


     A. Sale of assets:
                                                                                                                                           Other                                            Other asset        Other asset
                                                                                                           Land         Building        Improvement                                          Class #1           Class #2
          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?                                                                    1,000
             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                                            1,000                  0                  0
             d. Indicate amount of revenue recorded for sale.                                              28,482
                            Gain / loss qualifying as special item                                         27,482                   0                  0

             * Special item - Subject to management control and unusual in nature (possessing a high degree of abnormality and clearly unrelated to ordinary or typical activity) or infrequent in occurrence; should be a material
             amount to justify such treatment.
                                                                                                                                           Other                          Vehicles +        Other asset        Other asset
          2. Other sales of assets that do not qualify as special items:                                   Land         Building        Improvement        Equipment      Mot. Equip         Class #1           Class #2
             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 capital 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).
7/25/2011 - County model                                                                                                                                                                                                                              24
                                                                                                                                                                                                                                                      Entry F


                                                                                      Adjust Other Capital Asset Entries to Full Accrual

     B. Trade-in of capital assets.

                                                                                                                                    Other                            Vehicles +             Other asset             Other asset
             Trade-in of Capital assets:                                                              Land          Building     Improvement    Equipment            Mot. Equip              Class #1                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
                                                                                                                                    Other                            Vehicles +             Other asset             Other asset
             Retiring, scrapping or donating Capital assets:                                          Land          Building     Improvement    Equipment            Mot. Equip              Class #1                Class #2         Infrastructure
             a. What is the original cost at the beginning of the year for assets                                                       9,150     131,779                   2,639
             b. What is the accumulated depreciation at the beginning of the year                       N/A
             c. What is the depreciation expense for the current year up to the                         N/A
                date of trade-in for the asset above?                                                                                   9,150       131,779                    2,639
                            Loss on disposal of assets (or transfer out)                                      -            -              -             -                        -                        -                       -               -
             d. Of any assets donated above, what is the net book value (cost less total accum.
                deprec. for all asset classes) of any assets donated to the Enterprise Funds or an                                               This amount will be classified as a "transfer out" for the governmental activities
                Internal Service Fund reported in Business-type activities?                                                                     column, 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

     D. Capital assets received by the unit as donations:
                                                                                                                                    Other                            Vehicles +             Other asset             Other asset
             Donations of capital assets received by the unit:                                        Land          Building     Improvement    Equipment            Mot. Equip              Class #1                Class #2         Infrastructure
             a. What is the fair value of all the assets donated to the unit? Enter
                the amounts in the appropriate asset class.                                            37,500
             b. Indicate any amounts from step a. that would qualify as a special item.
             c. What is the net book values of any assets donated from or transferred in from the
                Enterprise Funds or an Internal Service Fund accounted for in Business-type                                                      This amount will be classified as a "transfer in" for the governmental activities
                activities included in the amount for step a. above?                                                                            column. It should also be included as a reconciling item to the fund statements.



     E. Reclassify capital outlay expenditures where county does not hold title to assets:
          1. What expenditures classified as "capital outlay" were spent for assets where the
             county does not hold title to the asset, (e.g. school construction)?                                    1,700,600
          2. Indicate the function to which the expenditures in 1 above apply.
                                                           Public Safety
                                                           Transportation
                                                           Economic & physical development                                 -
                                                           Environmental protection                                        -
                                                           Human services                                                  -
                                                           Cultural and recreational                                       -
                                                           Education                                                 1,700,600
                                                           Other program 1                                                 -
                                                                                                                     1,700,600
7/25/2011 - County model                                                                                                                                                                                                                                   25
                                                                                                                                                                                                                                           Entry F


                                                                                    Adjust Other Capital Asset Entries to Full Accrual


     F. 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                                                         Other          Equip +          Vehicle +       Other asset       Other asset
             causes which have been or are planned to be restored:                                       Land        Buildings       Improvements      Furniture         Mot. Equip       Class #1          Class #2         Infrastructure
             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 E - 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                                                                 Restoration cost ratio
                damaged 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 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
                 Other Improvements
                 Equipment and Furniture
                 Vehicles and Motorized Equipment
                 Infrastructure
                 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                                                             -




     F. 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
7/25/2011 - County model                                                                                                                                                                                                                        26
                                                                                                                                                             Entry F


                                                                                      Adjust Other Capital Asset Entries to Full Accrual
                 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
                             General Government
                             Public Safety
                             Transportation
                             Economic & physical development
                             Environmental protection
                             Human Services
                             Culture and Recreation
                             Education
                             Other program 1

                                            Total for 6a and 6b above             -


     G. Final Entry to Conversion Worksheet for sales, disposals, donations to the unit of capital assets and asset impairment loss: [Entry F.1, 2, 3 & 4]


                                                                                                             Debit            Credit
                 F.1        Accumulated depreciation - Buildings                                                  -                 -
                            Accumulated depreciation - Other improvements                                       9,150               -
                            Accumulated depreciation - Equipment                                              131,779               -
                            Accumulated depreciation - Vehicles & motorized equipment                           2,639               -
                            Accumulated depreciation - Other asset class #1                                       -                 -
                            Accumulated depreciation - Other asset class #2                                       -                 -
                            Accumulated depreciation - Infrastructure                                             -                 -
                            OFS - Sale of capital assets - other financing source                              28,482               -
                            Miscellaneous revenue                                                                 -                 -
                            General Government…….loss on disposal                                                 -                 -
                            OFU - Transfer Out                                                                    -                 -
                               Land                                                                               -               1,000
                               Buildings                                                                          -                 -
                               Other Improvements                                                                 -               9,150
                               Equipment                                                                          -             131,779
                               Vehicles & Motorized Equipment                                                     -               2,639
                               Infrastructure                                                                     -                 -
                               Other asset class #1                                                               -                 -
                               Other asset class #2                                                               -                 -
                               Miscellaneous general revenue [gain (loss) on sale]  k                             -                 -
                               Special Item - gain (loss) on sale of asset        l                               -              27,482
                 F.2        Land                                                                                37,500              -
                            Buildings                                                                              -                -
                            Other Improvements                                                                     -                -
                            Equipment                                                                              -                -
                            Vehicles & Motorized Equipment                                                         -                -
                            Infrastructure                                                                         -                -
                            Other asset class #1                                                                   -                -
                            Other asset class #2                                                                   -                -
                                 Miscellaneous revenue                                                             -             37,500
                                 Special item - revenue                                                            -                -
                                 OFS - Transfer In                                                                 -                -
                 F.3        Public Safety                                                                            -                 -
                            Transportation                                                                           -                 -
                            Economic & physical development                                                          -                 -
                            Environmental protection                                                                 -                 -
7/25/2011 - County model                                                                                                                                          27
                                                                                                                                                                                                                                 Entry F


                                                                                  Adjust Other Capital Asset Entries to Full Accrual
                           Human services                                                                                   -                 -
                           Cultural and recreational                                                                        -                 -
                           Education                                                                                  1,700,600               -
                           Other program 1                                                                                  -                 -
                               Capital outlay                                                                               -           1,700,600
                 F.4       OFS - Insurance recovery                                                                          -
                               Land                                                                                                            -
                               Buildings                                                                                                       -
                               Other Improvements                                                                                              -
                               Equipment and Furniture                                                                                         -
                               Vehicles and Motorized Equipment                                                                                -
                               Infrastructure                                                                                                  -
                               Other asset class #1                                                                                            -
                               Other asset class #2                                                                                            -
                               Miscellaneous revenue                                                                                           -
                               Extraordinary gain/ioss                                                                       -                 -
                           General Government                                                                                -
                           Public Safety                                                                                     -
                           Transportation                                                                                    -
                           Economic & physical development                                                                   -
                           Environmental protection                                                                          -
                           Human Services                                                                                    -
                           Culture and Recreation                                                                            -
                           Education                                                                                         -
                           Other program 1                                                                                   -
                               Total of F.1, F.2, F.3 and F.4                                                         1,910,150         1,910,150



                           k Sales of assets are assumed to generate gains which post to miscellaneous revenue. If losses result the number will appear as a debit. Material losses should be reported as a General Government
                               expense unless they qualify as a "special" item expense. Reclassification of these material losses will be made during the final stages in worksheet L - entry L.10.
                           l Special items are assumed to be gains and posted as such. If a loss results then the amount posted will be a debit.




7/25/2011 - County model                                                                                                                                                                                                              28
                                                                                                                                             Entry G


                       Adjust Debt Service Expenditures Under Modified Accrual to Full Accrual
       Debt activity under the modified accrual basis of accounting is treated as an expenditure or as an other financing source - debt proceeds. 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 account. New debt issued during the year will be addressed in Schedule H.
       Interest expense will be determined by the period the debt is outstanding rather than by the cash payment. Refunding bonds will also be
       addressed in Schedule H. Please note that these adjustments to debt accounts must be posted to the unit's permanent accounts for debt in
       order to have proper beginning balances for next year.
       1.    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 A below.
       2.    Review the governmental funds to determine the amount of interest paid under modified accrual. Also estimate the amount of accrued
             interest payable at the beginning of the year and for the end of the year under the full accrual basis of accounting.
       3.    The journal entry for the conversion worksheet, to reclassify these expenditures and other financing sources to increases and
             decreases in the proper liability accounts will be automatically created.



A.     What was the amount of debt service 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 categories below?
                        General obligation bonds                                                               611,000
                        Bond anticipation notes                                                                    -
                        Installment purchases/COPs                                                                 -
                        Capital leases                                                                           7,166


                          Total of principal payments                                                          618,166




B.     What was the interest activity for debt over the year?

                                                                                                             Amount

       1.    What was accrued interest at the beginning of the year under full accrual?                        331,007

       2.    What was the accrued interest at the end of the year under full accrual?                          311,528




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


                                                                                                              Debit          Credit
                          G.1        General obligation bonds payable                                          611,000            -
                                     Bond anticipation notes payable                                               -              -
                                     Installment purchases/COPs payable                                            -              -
                                     Capital leases payable                                                      7,166            -
                                           Debt Service -principal retirement                                      -          618,166
                          G.2        Beginning fund balance                                                    331,007
                                          Accrued interest payable                                                            331,007
                          G.3        Accrued interest payable                                                   19,479            -
                                          Interest expense                                                         -           19,479
                                                                                                               968,652        968,652




     7/25/2011 - County model                                                                                                                        29
                                                                                                                                                                Entry H


                                              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. Also, corresponding transactions for premiums, discounts and issuance costs must be adjusted from other financing
       uses to liabilities, contra-liabilities, and deferred charges. Refunding bonds must also be adjusted to the proper permanent accounts. Refunding
       bonds and their corresponding defeased debt will be handled together in the same section below. Bond issuance cost and deferred charges must be
       amortized over the life of any debt issued from the year of implementation forward to correctly state expenses on the Statement of Activities. The
       unit's permanent accounts will need to be adjusted to properly reflect next year's beginning balances for debt related accounts.

       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 B below. New issuance of refunding bonds will be handled in section B.
       2.    Review the governmental funds and record the information regarding bond refunding including the new debt, the old debt, the payment to the
             escrow agent, and any issuance costs. (If there were multiple refundings in the year, combine the numbers.)
       3.    Review the accounts for deferred charges from refunding and issuance cost and any discounts or premiums that must be amortized over the
             life of the debt. Indicate the amount for the annual expense.



A.     What was the amount of new debt issued by category for all governmental funds? (Exclude refunding bonds.)

                                                                                        Face                                        Issuance
                                                                                       Amount        Discount      Premium            Cost
       1.    Enter the face amount of newly issued debt and any
             discount, premium or issuance cost for all governmental
             funds by the categories below?
                         General obligation bonds                                            -                                             -
                         Bond anticipation notes                                             -                                             -
                         Installment purchases/COPs                                    1,200,000                                           -
                         Capital leases                                                  100,000                                           -


                          Total of new debt                                            1,300,000




B.     Complete the questions below regarding bond refunding.


       Old Debt:
       1. What was the amount outstanding for the old debt at
             the time it was refunded?                                                               3,000,000
       2.    What was the amount of any unamortized discount,          Unamortized                  Unamortized                     Unamortized
             premium or issuance cost on the old debt?                  Discount =                   Premium =            -      Issuance Cost =

       Proceeds of New Debt:
       3. What is the face amount of the new debt issued?                                            3,365,000
       4.    What was discount on the new debt?
       5.    What was the premium on the new debt?
       6.    What was issuance cost for new debt?                                                       65,000
                       Net Proceeds of New Debt Issue:                                               3,300,000

       Payments to Escrow Agent:
       7. What was the payment to the escrow agent to defease
           old debt?                                                                                 3,300,000
       8.    Were there any additional payments to the escrow
             agent charged to debt service?                                                             15,000
                        Reacquisition cost:                                                          3,315,000



C.     Amortize bond issuance cost and deferred charges for the current year.

       Units may elect to amortize the discount or premium on bonds and the deferred charge (loss) on refunding using the straight-line method or the
       effective interest rate amortization method.
       1.    What is the current year annual amortization for issuance costs?                            4,643

       2.    What is the current year annual amortization for discounts?
       3.    What is the current year annual amortization for
             deferred charge (loss) from refunding?                                                     22,500
       4.    What is the current year annual amortization for premiums?




     7/25/2011 - County model                                                                                                                                        30
                                                                                                                                    Entry H


                                         Debt Issues and Other Debt Related Transactions



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


                                                                                                            Debit        Credit
                          H.1    OFS - Capital leases (proceeds)                                             100,000          -
                                 OFS - Installment purchases/COPS (proceeds)                               1,200,000          -
                                 OFS - Bonds issued (proceeds)                                             3,365,000          -
                                 OFS - Premiums on debt issued - other financing source                          -            -
                                 Discounts on debt issued - contra-liability                                     -            -
                                 Deferred Charges - issuance cost                                             65,000        4,643
                                 Deferred Charges - refunding                                                315,000       22,500
                                 General Government - expense                                                  4,643          -
                                      Debt service - bond issuance cost                                          -         65,000
                                      Debt service - advance refunding escrow                                    -         15,000
                                      Debt service - interest and fees                                        22,500          -
                                      OFU - Discount on debt issued - other financing use                        -            -
                                      OFU - Payment to escrow agent                                              -      3,300,000
                                      Premium on debt issued - liability                                         -            -
                                      General obligation bonds                                             3,000,000    3,365,000
                                      Bond anticipation notes                                                    -            -
                                      Installment purchases/COPs                                                 -      1,200,000
                                      Capital leases - liability                                                 -        100,000
                                                                                                           8,072,143    8,072,143




     7/25/2011 - County model                                                                                                            31
                                                                                                                                                    Entry I


                                                     Adjustments to Other Asset Accounts
       There are asset accounts that may not be recorded on the fund statements which will be required to be reported in the government-wide financial
       statements. These assets include such items as equity interests in joint ventures, advance funding of pension costs, and prepaid expenses and
       inventory when the purchases method is used. If the consumption method was used, no entry is required, but if the purchases method was used an
       adjustment must be made if the amount is material. If inventories or prepaid expenses are not recorded in the fund financial statements because
       they are not material, they are assumed not to be material to the government-wide statements. The results will need to be posted to the unit's
       permanent accounts to properly reflect next year's beginning balances.
       1.   Equity in joint ventures is defined by GASB 14 and should be recorded as an asset if there is an underlying contract which creates an explicit,
            measurable equity interest. The increase (or decrease) will be recognized as revenue (or loss) on the Statement of Activities.
       2.
            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 in the fund financial statements if material. 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.
       3.   Advance funding of pension occurs when the benefit plan has a negative net pension obligation. A net pension obligation (liability - which is
            the normal case) should be addressed in worksheet J.



A.     Equity interest in joint ventures -   ( Underlying contract creates explicit, measurable equity interest - otherwise note disclosure only)

                                                                                                              Amount
       1.   What is the amount of the unit's equity interest in all joint ventures at the end
            of the prior year (beginning balance.)                                                                 8,383

       2.   Indicate the amount of any distributions during the current year that were
            recognized as revenue under modified accrual.

       3.   What is the amount of the unit's equity interest in all joint ventures at the end
            of the current year (ending balance.)                                                                  8,932

                                                       Net change in value over the year                             549


B.     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 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
                                                       General government
                                                       Public Safety
                                                       Transportation
                                                       Economic & physical development
                                                       Environmental protection
                                                       Human services
                                                       Cultural and recreation
                                                       Education
                                                       Other program 1
                                                                                                       j              -




     7/25/2011 - County model                                                                                                                               32
                                                                                                                                              Entry I


                                                   Adjustments to Other Asset Accounts

C.     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?             2,441,242
       2.   What was the amount of Reserve for inventory at the end of the current year?           2,564,216
                                                     Net change for the year                         122,974     k
       3.
            Indicate to which function the net change in inventory reserve apply. The sum
            of the amounts below must equal the amount in the net change field above.

                                                                                                  Net Change
                                                                                                    amount
                                                     General government                               50,000
                                                     Public Safety                                    40,000
                                                     Transportation                                    5,000
                                                     Economic & physical development                  17,416
                                                     Environmental protection
                                                     Human services                                     3,000
                                                     Cultural and recreation                            7,558
                                                     Education
                                                     Other program 1
                                                                                              k      122,974




D.     Intangible Asset - Advance Funding of Pension - (net negative pension obligation. - Net pension liability found on Worksheet J.)

                                                                                                                                 Amount
       1.   What was the amount of the net negative pension obligation at the beginning of the year. If multiple benefit plans
            are involved enter the sum of all plans.

       2.   What was the amount of the pension obligation at the end of the year. If multiple benefit plans are involved enter
            the sum of all plans.
                                                   Change in pension obligation during the year                                       -   l

       3.   Enter the function which paid the amount above. For the amount for the Law Enforcement Officer's Separation
            Allowance, the Public Safety function would have made the overpayment. If multiple functions contribute to
            other plans, the overpayment may be prorated based on total payments. The sum of these amounts must equal
            the amount in the change in pension obligation field above.
                                        General government
                                        Public Safety
                                        Transportation
                                        Economic & physical development
                                        Environmental protection
                                        Human services
                                        Cultural and recreation
                                        Education
                                        Other program 1

                                                     Total of pension over funding            l           -




     7/25/2011 - County model                                                                                                                     33
                                                                                                                 Entry I


                                                  Adjustments to Other Asset Accounts


       Entry for Conversion worksheet to record changes in assets. (Entry I.1)
E.
                                                                                            Debit     Credit
      I.1                       Investment in joint venture                                   8,932        -
                                Miscellaneous revenue                                           -          -
                                Change in Reserve for prepaid expense                           -          -
                                Change in reserve for Inventory                             122,974        -
                                Intangible asset - advance funding of pension                   -          -
                                     General government                                         -       50,000
                                     Public Safety                                              -       40,000
                                     Transportation                                             -        5,000
                                     Economic & physical development                            -       17,416
                                     Environmental protection                                   -          -
                                     Human services                                             -        3,000
                                     Cultural and recreation                                    -        7,558
                                     Education                                                  -          -
                                     Other program 1                                            -          -
                                     Misc. Revenue - [Net Income (loss) in joint venture]       -          549
                                     Fund balance                                               -        8,383
                                                                                            131,906    131,906




     7/25/2011 - County model                                                                                        34
                                                                                                                                                                          Entry J


                                                         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, landfill closure and post-closure costs, the net pension cost
                           of unit managed benefit plans, any other postemployment benefits or other long-term liabilities. The results will need to be posted to
                           permanent accounts for next year's beginning balances.
                           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. Enter the payment amounts in
                                 section B.1 below. Also, determine additions to claims & judgments from management. Enter the amounts of the new liability
                                 by function in section B.2.
                           3.    The net pension obligation has always been calculated for the note disclosure if the unit had an actuarial study performed. If
                                 material, most units also recorded the amount in the General Long Term Debt account. The beginning balance was recorded
                                 earlier when the capital assets and long term debt accounts were recorded. The information to be recorded in Section C is the
                                 incremental change in the current year. If the pension obligation has been advance funded, please complete the questions on
                                 the Worksheet I and leave this section blank.
                           4.    The other post-employment benefits (OPEB) may be calculated through an actuarial study or by calculations using the
                                 alternative method. All units must record the amount in their General Long Term Debt account, if the benefits are offered. The
                                 information to be recorded here is the incremental change in the current year, based on beginning and ending computed
                                 liabilities. If the OPEB obligation has been advance funded, please complete the questions on the Worksheet I and leave this
                                 section blank.
                           5.    For other long term liabilities, the incremental changes will need to be recorded charging the expense to the corresponding
                                 function. For counties with landfills in the general fund who have a liability for post-closure cost, use the other liability accounts
                                 in Section E. The function to be effected for the changes is the function in which the unit accounts for the landfill.


                     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
                                 General government                                                                                 -
                                 Public Safety                                                                                      -
                                 Transportation                                                                                     -
                                 Economic & physical development                                                                    -
                                 Environmental protection                                                                           -
                                 Human services                                                                                     -
                                 Cultural and recreation                                                                            -
                                 Education                                                                                          -
                                 Other program 1                                                                                    -
                                                                                                            -          -            -               -

                           Method 2 - know current year amounts taken                  Beginning                       Current year           Ending
                                                                                         Balance                  Earned*         Used        Balance
                                  General government                                        86,333                  32,309         12,086      106,556
                                  Public Safety                                            101,347                  37,929         14,189      125,087
                                  Transportation                                             1,876                     703            263         2,316
                                  Economic & physical development                            9,384                   3,512          1,314       11,582
                                  Environmental protection                                     -                       -              -             -
                                  Human services                                           172,666                  64,618         24,173      213,111
                                  Cultural and recreation                                    3,754                   1,404            525         4,633
                                  Education                                                    -                       -              -             -
                                  Other program 1                                              -                       -              -             -
                                                                                           375,360                 140,475         52,550      463,285
                                * Calculated -       Do not enter data into both tables !

                     B.    What are the adjustments to expenses and liabilities for claims and judgments ?

                           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
                                 General government
                                 Public Safety
                                 Transportation
                                 Economic & physical development
                                 Environmental protection
                                 Human services
                                 Cultural and recreation
                                 Education
7/25/2011 - County model                                                                                                                                                       35
                                                                                                          Entry J


                                                Adjustments to Other Liability and Expense Accounts
                           Other program 1
                           Special item
                           Extraordinary item
                                                        j        -        k        -         l        -




7/25/2011 - County model                                                                                       36
                                                                                                                                                                                    Entry J


                                                         Adjustments to Other Liability and Expense Accounts


                     C.    What is the addition to the net pension obligation for the year?

                                                                                                                                                Amount
                           1.   What was the amount of the net pension obligation at the beginning of the year. If multiple benefit
                                plans are involved enter the sum of all plans. (Beginning balances were recorded in Columns V & W in the
                                main Conversion Worksheet.)

                           2.   What was the amount of the net pension obligation at the end of the year. If multiple benefit plans
                                are involved enter the sum of all plans.
                                                           Change in pension obligation during the year                                                -       m
                           3.   Enter the cost by function for the increment above, e.g. for the Law Enforcement Officer's
                                Separation Allowance the amount is entered as a cost to Public Safety. If other plans exist
                                covering other employees or all employees then their respective function should be charged. The
                                total for the detail in step 3 must equal the amount in step 2. (If the change in above is negative, the sum
                                of step 3 should also be negative.)
                                              General government                                                                                       -
                                              Public Safety                                                                                            -
                                              Transportation                                                                                           -
                                              Economic & physical development                                                                          -
                                              Environmental protection                                                                                 -
                                              Human services                                                                                           -
                                              Cultural and recreation                                                                                  -
                                              Education                                                                                                -
                                              Other program 1                                                                                          -
                                                          Total of incremental net pension costs                                       m               -

                           What is the addition to the net OPEB obligation for the year for the Total Governmental Funds portion?                     Please refer to
                     D.    Memorandum #2010-1 for a journal entry overview.


                                                                                                                                                Amount
                           1.   What was the amount of the net OPEB obligation at the beginning of the year? If multiple benefit
                                plans are involved enter the sum of all plans. (Beginning balances for Governmntal Funds only were recorded        50,585

                           2.   What was the amount of the net OPEB obligation at the end of the year? If multiple benefit plans
                                are involved enter the sum of all plans. Only include the portion related to Governmental Funds.                  103,163
                                                        Change in OPEB obligation during the year                                                  52,578      n

                           3.   Enter the cost by function for the increment above, e.g. for Retirees Healthcare. If plans exist
                                           General government                                                                                      12,998
                                           Public Safety                                                                                           15,649
                                           Transportation                                                                                             140
                                           Economic & physical development                                                                          1,048
                                           Environmental protection                                                                                   -
                                           Human services                                                                                          22,289
                                           Cultural and recreation                                                                                    454
                                           Other program 1                                                                                            -
                                           Other program 2                                                                                            -
                                                        Total of incremental net OPEB costs                                     n                  52,578


                     E.    Other long-term debt liabilities - What are adjustments to expenses and liabilities?
                                                                                                                                                Other long-   Other long-term
                                                                                                                                               term debt #1       debt #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 claims incurred during this current year?                                   o                                        r
                           3.   Indicate the amount of payments made on other long-term liabilities.                                   p                                        s
                           4.   Were there any adjustments to these account balances during the year?            Please
                                enter reductions as negative amounts and increases as positive amounts.                                q                                        t
                           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 debt #1                        Other long-term debt #2
                                                                                New claims         Payments   Adjustments      New claims       Payments  Adjustments
                                General government
                                Public Safety
                                Transportation
                                Economic & physical development
                                Environmental protection
                                Human services
                                Cultural and recreation
                                Education
                                Other program 1
                                Special item
                                Extraordinary item
                                                                                         -                -           -                -               -                -
7/25/2011 - County model                                                                                                                                                                 37
                                                                                         Entry J


                           Adjustments to Other Liability and Expense Accounts
                                          o        p        q         r          s   t




7/25/2011 - County model                                                                      38
                                                                                                                                        Entry J


                                                  Adjustments to Other Liability and Expense Accounts

                     E.    Journal entry for conversion worksheet to record additions and reductions in outstanding debt. [Entry J.1]
                                                                                                                Debit        Credit
                                           J.1       General government                                          33,221           -
                                                     Public Safety                                               39,389           -
                                                     Transportation                                                 580           -
                                                     Economic & physical development                              3,246           -
                                                     Environmental protection                                        -            -
                                                     Human services                                              62,734           -
                                                     Cultural & recreation                                        1,333           -
                                                     Education                                                       -            -
                                                     Other program 1                                                 -            -
                                                     Special item                                                    -            -
                                                     Extraordinary item                                              -            -
                                                     Compensated absences                                            -         87,925
                                                         Claims & Judgments                                          -            -
                                                         Other L.T. Liability 1                                      -            -
                                                         Other L.T. Liability 2                                      -            -
                                                         Net Pension Obligation                                      -            -
                                                         Net OPEB liability                                          -         52,578
                                                                                                                140,503        87,925




7/25/2011 - County model                                                                                                                     39
                                                                                                                                                                  Entry K.1




                                                     GASB 34 - Allocation of Internal Service Funds (Fund #1)
        This worksheet prepares the allocation of internal service funds using the Look -back approach. Internal service funds should gen erally operate on a
        breakeven basis. Therefore when a profit or loss results from internal transactions, it should be allocated back to the funds involved based on their
        percentage of participation. If the Internal Service fund had a net loss, the allocation would result in a corresponding incr ease in expenses. Any
        adjustments arising from these calculations are not intended to be posted to the general ledger. They should be treated as re porting entries for purposes
        of reporting on the government-wide statements and will be posted only to the conversion worksheet. A separate worksheet should be prepared for each
        individual internal service fund. Three worksheets for internal service fund allocation have been provided and mapped to the conversion worksheet. If
        more copies are needed then their resulting entries will require an entry (and mapping) to the conversion worksheet or you ma y choose to enter the
        entries directly into the yellow "Misc. Entries" column (be careful not to overwrite the data mapped from the other internal service funds.) [See City of
        Dogwood for an example.]

        1. Determine the proportionate participation of each function by matching the charge for service with the functional category and determine which activity
           primarily benefits from the internal service fund - governmental or business type in Step A. If business type activity is determined as the primary
           beneficiary, please delete data from this form and enter it in the business type worksheet provided on the website.
        2. Enter the amounts in Step B for the permanent balance sheet accounts for the given internal service fund. These amounts will be posted to the
           governmental activity column as determined in Step A to be the primary beneficiary of the internal service fund's activities. This worksheet will handle
           only those funds determined to benefit governmental activities. In step 2 of Section B enter the amounts that must be excluded from the allocation.
           These amounts come directly from the fund statements. Also, in step 3 enter the change in net assets from the income statement for the fund being
           allocated.
        3. Adjust for the prior year's internal balance in Step C. This adjusts beginning net assets to match the government-wide presentation. k
        4. Section D is the actual allocation of the residual profit or loss computation. These are the amounts that will be included in your reconciliation from the
           fund balance on the fund statements to the government-wide net assets amount.
        5. The entry is automatically generated from all the data provided and mapped to the Reclassifications and Eliminations column of the Conversion
           Worksheet as entry K.1-3. Additional worksheets are provided for other internal service funds and their entries are mapped together such that K.1 +
           K.2 + K.3 results in the final K.1-3 entry. Please note that if rounding causes a slight inaccuracy, adjustments can be made.


            k   The method used throughout this worksheet differs from the GAAFR by using beginning fund balance rather than ending balance. This
            method generates a calculation for beginning equity on the full accrual basis of accounting.



   A. Enter the dollar amount of revenues paid by each function to the internal service fund. The percentage of total internal charges will be
      automatically calculated. This will provide the information to determine the primary activity type. The activity which is the primary beneficiary
      will be the activity to which balance sheet accounts are recorded later in the entry.


                                          Determination of Proportionate Participation
                                                                                $                         %
           Internal Charges
              Governmental Activities:
                 General government                                      $              -                      0.0%
                 Public safety                                                          -                      0.0%
                 Transportation                                                         -                      0.0%
                 Economic & physical development                                        -                      0.0%
                 Environmental protection                                               -                      0.0%
                 Human Services                                                         -                      0.0%
                 Culture and recreation                                                 -                      0.0%
                 Education                                                              -                      0.0%
                 Other program 1                                                        -                      0.0%

                    Total Governmental Activities                        $              -                      0.0% j

              Business-type Activities:
                Water and sewer                                          $              -                      0.0%
                Electric                                                                -                      0.0%
                Other Enterprise 1                                                      -                      0.0%
                Other Enterprise 2                                                      -                      0.0%

                    Total Business-type Activities                       $              -                      0.0%

                       Total Internal Charges                            $              -                      0.0%

           External Charges                                                             -

                       Total Charges for Services                        $              -


                                                                                                  If the predominant activity is business type, please copy your numbers
           The Predominant Activity Type is                                                      into the business type activities worksheet contained in the conversion
           (business or governmental): -- automatic calculation           Business Type      j   worksheet for business type activities and delete them here.




7/25/2011 - County model                                                                                                                                                   40
                                                                                                                                                                                       Entry K.1

   B. Record the trial balance for permanent balance sheet accounts of the internal service fund. Amounts should be ending balances except for net
      assets (fund balance.) It should be recorded at the beginning amount for the fiscal year. In step 2 enter the amounts for those items which
      should be eliminated when allocating the Internal Service fund's net profit or loss. In step 3 enter the amount for "Change in Net Assets" from
      the income statement.
        1. Record permanent balance sheet accounts.                                              Debit                Credit
             Cash & cash equivalents                                                                       -
             Investments                                                                                   -
             Due from other funds                                                                          -
             Advances to other funds                                                                       -
             Inventories                                                                                   -
             Prepaid items                                                                                 -
             Land                                                                                          -
             Buildings                                                                                     -
             Equipment                                                                                     -
             Vehicles                                                                                      -                           From fund Statement of Net Assets at end of year
               Buildings - Accum. Depreciation                                                                                 -
               Equipment - Accum. Depreciation                                                                                 -
               Vehicles - Accum. Depreciation                                                                                  -
               Accounts Payable                                                                                                -
                Due to other funds                                                                                             -
                Advances from other funds                                                                                      -
               Accrued vacation/Compensated absences                                                                           -
               Claims and judgments                                                                                            -
               Net OPEB liability                                                                                              -
               Bonds, notes and loans payable                                                                                  -
               Net assets - Beginning balance                                                                                  -       Beginning fund balance from fund statement

        2. Enter unallocated amounts
             Investment earnings                                                                                               -
             Interest expense                                                                              -                           From fund Statement of Revenues, Expenses, and
             Transfers out                                                                                 -                           Changes in Net Assets
             Transfers in                                                                                                      -
             Charges to external customers                                                                                     -       Compute if not separately disclosed
                                                                                                                                       Calculated based on mark-up, e.g. if mark up is 10%
                Expenses for services provided externally                                                  -                           then cost for revenue of $330 is $300.
                                                                                                                                       From fund Statement of Revenues, Expenses, and
        3. Enter the fund's "change in net assets"                                                                                     Changes in Net Assets
             Enter a positive amount for income; enter a negative
             amount for a loss.                                                   -
             Sum of amounts in step 2. - calculated                               -
                                                                                                                                        If positive, an excess charge will be allocated; if
                                                                                                                                       negative, a loss or undercharge will be allocated to the
                   Amount to be allocated         - calculated                    -                                            -       functions that used the service.

                                                                                                               -               -       Entry must balance !


   C. Adjust beginning net assets (fund balance) for prior year consolidation(s) of internal service funds. (This amount will be the Internal balance
      amount created from last year's final entry for this fund and will become cumulative over time.)
      This will not be an issue in year 1 of implementation. It will only be required in later years.

        1.
             What was the prior year internal balance entry for internal service funds
             allocation for business type activity? Indicate sign - this amount will be negative if
             business type activities owe (have a balance payable to) government type activities and positive
             if business type activities have a balance receivable from government type activities.                            -
                                                                                                                                          Entries must net to zero.
        2.
             What was the prior year internal balance entry for the internal service fund
             allocation for governmental type activity? Indicate sign - this amount will be negative if
             government activities owe (have a balance payable to) business type activities, and positive if
             government type activities have a balance receivable from business type activities.                               -

   D. Compute the adjustment to the expenses in the functional categories by multiplying the proportionate participation percentage determined in
      Step A by the amount of profit or loss to be allocated as calculated in Step D.
                                                                                           Adjustment to           Adjustment to
                                                                                           Governmental            Business-type
                    …. Automatically computed ….                                             Activities              Activities

             General government                                                                            -
             Public safety                                                                                 -
             Transportation                                                                                -
             Economic & physical development                                                               -
             Environmental protection                                                                      -
             Human Services                                                                                -
             Culture and recreation                                                                        -
             Education                                                                                     -
             Other program 1                                                                               -

                                                                                                                                        * In this scenario the governmental activities, as
             Water and sewer                                                                                                   -
                                                                                                                                       primary beneficiary, will have a balance payable to the
             Electric                                                                                                          -       business type activity of $304 which will be posted to
             Other enterprise 1                                                                                                -       the internal balance account to avoid an elimination
             Other enterprise 2                                                                                                -       entry later.
                Total Allocations                                                                          -                   -   *                                                     -
7/25/2011 - County model                                                                                                                                                                          41
                                                                                                                                                                 Entry K.1



   E. Final entry for Conversion worksheet - [Entry K.1] - Posted to the Reclassification & Elimination Column

                                                                             Debit                  Credit

   K.1     Cash & cash equivalents                                                   -
           Investments                                                               -
           Due from other funds                                                      -
           Advances to other funds                                                   -
           Inventories                                                               -
           Prepaid items                                                             -
           Land                                                                      -
           Buildings                                                                 -
           Equipment                                                                 -
           Vehicles                                                                  -                              Permanent balance sheet accounts
             Buildings - Accum. Depreciation                                                                 -
             Equipment - Accum. Depreciation                                                                 -
             Vehicles - Accum. Depreciation                                                                  -
             Accounts Payable                                                                                -
              Due to other funds                                                                             -
              Advances from other funds                                                                      -
             Accrued vacation/compensated absences                                                           -
             Claims and judgments                                                                            -
             Net OPEB liability                                                                              -
             Notes and loans payable                                                                         -
             Fund balance - Beginning balance                                                                -
             Investment Earnings - General revenue                                                           -
             Charges for service - General government                                                        -
             Direct expenses - General government                                    -                              Unallocated amounts for operating accounts
             Interest and fees                                                       -
             Transfers in                                                                                    -
             Transfers out                                                           -
              General government expenditures                                                                -
              Public safety expenditures                                                                     -
              Transportation expenditures                                                                    -
              Economic & physical development                                                                -
              Environmental protection expenditures                                                          -      Allocation of profit or loss
              Human Services                                                                                 -
              Culture and recreation expenditures                                                            -
              Education                                                                                      -
              Other program 1                                                                                -
              Internal balances *                                                                            -
                                                                                     -                       -


           Business-type Activities Adjustments:

           Internal balances *                                                       -
              Water and sewer expenses                                                                       -
              Electric expenses                                                                              -      Must be manually posted to business type
              Other enterprise #1                                                                            -      worksheet elsewhere on the website.
              Other enterprise #2                                                                            -
              Fund balance                                                                                   -
                                                                                     -                       -

           * This amount will become the reconciling amount to be entered in Section C, steps 1 & 2 for the next year. In subsequent years the amount for
           Section C becomes cumulative, with year 1's balance added to year 2 etc. over time.




7/25/2011 - County model                                                                                                                                               42
                                                                                                                                                                Entry K.2




                                                    GASB 34 - Allocation of Internal Service Funds (Fund #2)
      This worksheet prepares the allocation of internal service funds using the Look-back approach. Internal service funds should generally operate on a
      breakeven basis. Therefore when a profit or loss results from internal transactions, it should be allocated back to the funds involved based on their
      percentage of participation. If the Internal Service fund had a net loss, the allocation would result in a corresponding increase in expenses. Any
      adjustments arising from these calculations are not intended to be posted to the general ledger. They should be treated as reporting entries for purposes
      of reporting on the government-wide statements and will be posted only to the conversion worksheet. A separate worksheet should be prepared for each
      individual internal service fund. Three worksheets for internal service fund allocation have been provided and mapped to the conversion worksheet. If
      more copies are needed then their resulting entries will required an entry (and mapping) to the conversion worksheet or you may choose to enter the
      entries directly into the yellow "Misc. Entries" column (be careful not to overwrite the data mapped from the other internal service funds.)

      1. Determine the proportionate participation of each function by matching the charge for service with the functional category and determine which activity
         primarily benefits from the internal service fund - governmental or business type in Step A. If business type activity is determined as the primary
         beneficiary, please delete data from this form and enter it in the business type worksheet provided on the website.
      2.
           Enter the amounts in Step B for the permanent balance sheet accounts for the given internal service fund. These amounts will be posted to the
           governmental activity column as determined in Step A to be the primary beneficiary of the internal service fund's activities. This worksheet will handle
           only those determined to benefit governmental activities. In step 2 of Section B enter the amounts that must be excluded from the allocation. These
           amounts come directly from the fund statements. Also, in step 3 enter the change in net assets from the income statement for the fund being allocated.
      3. Adjust for the prior year's internal balance in Step C. This adjusts beginning net assets to match the government-wide presentation. k
      4. Section D is the actual allocation of the residual profit or loss computation. These are the amounts that will be included in your reconciliation from the
         fund balance to the government-wide net assets amount.
      5. The entry is automatically generated from all the data provided and mapped to the Reclassifications and Eliminations column of the Conversion
         Worksheet as entry K.1-3. Additional worksheets are provided for other internal service funds and their entries are mapped together such that K.1 + K.2
         + K.3 results in the final K.1-3 entry. Please note that if rounding causes a slight inaccuracy, minor adjustments can be made.


           k   The method used throughout this worksheet differs from the GAAFR by using beginning fund balance rather than ending balance. This
           method generates a calculation for beginning equity on the full accrual basis of accounting.


 A. Enter the dollar amount of revenues paid by each function to the internal service fund. The percentage of total internal charges will be
    automatically calculated. This will provide the information to determine the primary activity type. The activity which is the primary beneficiary will
    be the activity to which balance sheet accounts are recorded later in the entry.


                                         Determination of Proportionate Participation
                                                                               $                          %
           Internal Charges
              Governmental Activities:
                 General government                                      $             -                       0.0%
                 Public safety                                                         -                       0.0%
                 Transportation                                                        -                       0.0%
                 Economic & physical development                                       -                       0.0%
                 Environmental protection                                              -                       0.0%
                 Human Services                                                        -                       0.0%
                 Culture and recreation                                                -                       0.0%
                 Education                                                             -                       0.0%
                 Other program 1                                                       -                       0.0%

                   Total Governmental Activities                         $             -                       0.0%   j

             Business-type Activities:
               Water and sewer                                           $             -                       0.0%
               Electric                                                                -                       0.0%
               Other Enterprise 1                                                      -                       0.0%
               Other Enterprise 2                                                      -                       0.0%

                   Total Business-type Activities                        $             -                       0.0%

                      Total Internal Charges                             $             -                       0.0%

           External Charges                                                            -

                      Total Charges for Services                         $             -


                                                                                                  If the predominant activity is business type, please copy your numbers
           The Predominant Activity Type is                                                      into the business type activities worksheet contained in the conversion
           (business or governmental): -- automatic calculation          Business Type       j   worksheet for business type activities and delete them here.




7/25/2011 - County model                                                                                                                                               43
                                                                                                                                                                                Entry K.2

 B. Record the trial balance for permanent balance sheet accounts of the internal service fund. Amounts should be ending balances except for net
    assets (fund balance.) It should be recorded at the beginning amount for the fiscal year. In step 2 enter the amounts for those items which should
    be eliminated when allocating the Internal Service fund's net profit or loss. In step 3 enter the amount for "Change in Net Assets" from the
    income statement.
      1. Record permanent balance sheet accounts.                                              Debit                Credit
         Cash & cash equivalents                                                                         -
         Investments                                                                                     -
         Due from other funds                                                                            -
         Advances to other funds                                                                         -
         Inventories                                                                                     -
         Prepaid items                                                                                   -
         Land                                                                                            -
         Buildings                                                                                       -
         Equipment                                                                                       -
         Vehicles                                                                                        -                       From fund Statement of Net Assets at end of year
           Buildings - Accum. Depreciation                                                                                   -
           Equipment - Accum. Depreciation                                                                                   -
           Vehicles - Accum. Depreciation                                                                                    -
           Accounts Payable                                                                                                  -
            Due to other funds                                                                                               -
            Advances from other funds                                                                                        -
           Accrued vacation/Compensated absences                                                                             -
           Claims and judgments                                                                                              -
           Net OPEB liability                                                                                                -
           Bonds, notes and loans payable                                                                                    -
           Net assets - Beginning balance                                                                                    -   Beginning fund balance from fund statement

      2. Enter unallocated amounts
           Investment earnings                                                                                               -
           Interest expense                                                                              -                       From fund Statement of Revenues, Expenses, and
           Transfers out                                                                                 -                       Changes in Net Assets
           Transfers in                                                                                                      -
           Charges to external customers                                                                                     -   Compute if not separately disclosed
                                                                                                                                 Calculated based on mark-up, e.g. if mark up is 10%
              Expenses for services provided externally                                                  -                       then cost for revenue of $330 is $300.
                                                                                                                                 From fund Statement of Revenues, Expenses, and
      3. Enter the fund's "change in net assets"                                                                                 Changes in Net Assets
           Enter a positive amount for income; enter a negative
           amount for a loss.                                                   -
           Sum of amounts in step 2. - calculated                               -
                                                                                                                                  If positive, an excess charge will be allocated; if
                                                                                                                                 negative, a loss or undercharge will be allocated to the
                 Amount to be allocated - calculated                            -                                            -   functions that used the service.

                                                                                                             -               -   Entry must balance !



 C. Adjust beginning net assets (fund balance) for prior year consolidation of internal service funds. (This amount will be the Internal balance
    amount created from last year's final entry for this fund.)
    This will not be an issue in year 1 of implementation. It will only be required in later years.

      1.
           What was the prior year internal balance entry for internal service funds
           allocation for business type activity? Indicate sign - this amount will be negative if
           business type activities owe (have a balance payable to) government type activities and positive if
           business type activities have a balance receivable from government type activities.
                                                                                                                                    Entries must net to zero.
      2.
           What was the prior year internal balance entry for the internal service fund
           allocation for governmental type activity? Indicate sign - this amount will be negative if
           government activities owe (have a balance payable to) business type activities, and positive if
           government type activities have a balance receivable from business type activities.


 D. Compute the adjustment to the expenses in the functional categories by multiplying the proportionate participation percentage determined in
    Step A by the amount of profit or loss to be allocated as calculated in Step D.
                                                                                         Adjustment to           Adjustment to
                                                                                         Governmental            Business-type
                  …. Automatically computed ….                                             Activities              Activities

           General government                                                                            -
           Public safety                                                                                 -
           Transportation                                                                                -
           Economic & physical development                                                               -
           Environmental protection                                                                      -
           Human Services                                                                                -
           Culture and recreation                                                                        -
           Education                                                                                     -
           Other program 1                                                                               -
                                                                                                                                  * In this scenario the governmental activities, as
           Water and sewer                                                                                                   -
                                                                                                                                 primary beneficiary, will have a balance payable to the
           Electric                                                                                                          -   business type activity of $304 which will be posted to
           Other enterprise 1                                                                                                -   the internal balance account to avoid an elimination
           Other enterprise 2                                                                                                -   entry later.
7/25/2011 - County model                                                                                                                                                                    44
                                             Entry K.2
             Total Allocations   -   -   *     -




7/25/2011 - County model                           45
                                                                                                                                                                  Entry K.2



 E. Final entry for Conversion worksheet - [Entry K.1] - Posted to the Reclassification & Elimination Column

                                                                            Debit                   Credit

 K.1      Cash & cash equivalents                                                   -
          Investments                                                               -
          Due from other funds                                                      -
          Advances to other funds                                                   -
          Inventories                                                               -
          Prepaid items                                                             -
          Land                                                                      -
          Buildings                                                                 -
          Equipment                                                                 -
          Vehicles                                                                  -                                Permanent balance sheet accounts
            Buildings - Accum. Depreciation                                                                  -
            Equipment - Accum. Depreciation                                                                  -
            Vehicles - Accum. Depreciation                                                                   -
            Accounts Payable                                                                                 -
             Due to other funds                                                                              -
             Advances from other funds                                                                       -
            Accrued vacation/compensated absences                                                            -
            Claims and judgments                                                                             -
            Net OPEB liability                                                                               -
            Notes and loans payable                                                                          -
            Fund balance - Beginning balance                                                                 -
            Investment Earnings - General revenue                                                            -
            Charges for service - General government                                                         -
            Direct expenses - General government                                    -                                Unallocated amounts for operating accounts
            Interest and fees                                                       -
            Transfers in                                                                                     -
            Transfers out                                                           -
             General government expenditures                                                                 -
             Public safety expenditures                                                                      -
             Transportation expenditures                                                                     -
             Economic & physical development                                                                 -
             Environmental protection expenditures                                                           -       Allocation of profit or loss
             Human Services                                                                                  -
             Culture and recreation expenditures                                                             -
             Education                                                                                       -
             Other program 1                                                                                 -
             Internal balances *                                                                             -
                                                                                                             -


          Business-type Activities Adjustments:

          Internal balances *                                                       -
             Water and sewer expenses                                                                        -
             Electric expenses                                                                               -       Must be manually posted to business type
             Other enterprise #1                                                                             -       worksheet elsewhere on the website.
             Other enterprise #2                                                                             -
             Fund balance                                                                                    -
                                                                                    -                        -

          * This amount will become the reconciling amount to be entered in Section C, steps 1 & 2 for the next year. In subsequent years the amount for Section
          C becomes cumulative, with year 1's balance added to year 2 etc. over time.




7/25/2011 - County model                                                                                                                                                46
                                                                                                                                                                 Entry K.1




                                                    GASB 34 - Allocation of Internal Service Funds (Fund #3)
      This worksheet prepares the allocation of internal service funds using the Look-back approach. Internal service funds should generally operate on a
      breakeven basis. Therefore when a profit or loss results from internal transactions, it should be allocated back to the funds involved bases on their
      percentage of participation. If the Internal Service fund had a net loss, the allocation would result in a corresponding increase in expenses. Any
      adjustments arising from these calculations are not intended to be posted to the general ledger. They should be treated as reporting entries for purposes
      of reporting on the government-wide statements and will be posted only to the conversion worksheet. A separate worksheet should be prepared for each
      individual internal service fund. Three worksheets for internal service fund allocation have been provided and mapped to the conversion worksheet. If
      more copies are needed then their resulting entries will require an entry (and mapping) to the conversion worksheet or you may choose to enter the
      entries directly into the yellow "Misc. Entries" column (be careful not to overwrite the data mapped from the other internal service funds.)

      1. Determine the proportionate participation of each function by matching the charge for service with the functional category and determine which activity
         primarily benefits from the internal service fund - governmental or business type in Step A. If business type activity is determined as the primary
         beneficiary, please delete data from this form and enter it in the business type worksheet provided on the website.
      2. Enter the amounts in Step B for the permanent balance sheet accounts for the given internal service fund. These amounts will be posted to the
         governmental activity column as determined in Step A to be the primary beneficiary of the internal service fund's activities. This worksheet will handle
         only those funds determined to benefit governmental activities. In step 2 of Section B enter the amounts that must be excluded from the allocation.
         These amounts come directly from the fund statements. Also, in step 3 enter the change in net assets from the income statement for the fund being
         allocated.
      3. Adjust for the prior year's internal balance in Step C. This adjusts beginning net assets to match the government-wide presentation. k
      4. Section D is the actual allocation of the residual profit or loss computation. These are the amounts that will be included in your reconciliation from the
         fund balance on the fund statements to the government-wide net assets amount.
      5. The entry is automatically generated from all the data provided and mapped to the Reclassifications and Eliminations column of the Conversion
         Worksheet as entry K.1-3. Additional worksheets are provided for other internal service funds and their entries are mapped together such that K.1 + K.2
         + K.3 results in the final K.1-3 entry. Please note that if rounding causes a slight inaccuracy, adjustments can be made.


          k The method used throughout this worksheet differs from the GAAFR by using beginning fund balance rather than ending balance. This method
          generates a calculation for beginning equity on the full accrual basis of accounting.



 A. Enter the dollar amount of revenues paid by each function to the internal service fund. The percentage of total internal charges will be
    automatically calculated. This will provide the information to determine the primary activity type. The activity which is the primary beneficiary will
    be the activity to which balance sheet accounts are recorded later in the entry.


                                         Determination of Proportionate Participation
                                                                               $                          %
          Internal Charges
             Governmental Activities:
                General government                                      $              -                        0.0%
                Public safety                                                          -                        0.0%
                Transportation                                                         -                        0.0%
                Economic & physical development                                        -                        0.0%
                Environmental protection                                               -                        0.0%
                Human Services                                                         -                        0.0%
                Culture and recreation                                                 -                        0.0%
                Education                                                              -                        0.0%
                Other program 1                                                        -                        0.0%

                   Total Governmental Activities                        $              -                        0.0%   j

             Business-type Activities:
               Water and sewer                                          $              -                        0.0%
               Electric                                                                -                        0.0%
               Other Enterprise 1                                                      -                        0.0%
               Other Enterprise 2                                                      -                        0.0%

                   Total Business-type Activities                       $              -                        0.0%

                      Total Internal Charges                            $              -                        0.0%

          External Charges                                                             -

                      Total Charges for Services                        $              -


                                                                                                   If the predominant activity is business type, please copy your numbers
          The Predominant Activity Type is                                                        into the business type activities worksheet contained in the conversion
          (business or governmental): -- automatic calculation           Business Type       j    worksheet for business type activities and delete them here.




7/25/2011 - County model                                                                                                                                                47
                                                                                                                                                                                    Entry K.1

 B. Record the trial balance for permanent balance sheet accounts of the internal service fund. Amounts should be ending balances except for net
    assets (fund balance.) It should be recorded at the beginning amount for the fiscal year. In step 2 enter the amounts for those items which should
    be eliminated when allocating the Internal Service fund's net profit or loss. In step 3 enter the amount for "Change in Net Assets" from the
    income statement.
      1. Record permanent balance sheet accounts.                                              Debit                Credit
         Cash & cash equivalents                                                                         -
         Investments                                                                                     -
         Due from other funds                                                                            -
         Advances to other funds                                                                         -
         Inventories                                                                                     -
         Prepaid items                                                                                   -
         Land                                                                                            -
         Buildings                                                                                       -
         Equipment                                                                                       -
         Vehicles                                                                                        -                           From fund Statement of Net Assets at end of year
           Buildings - Accum. Depreciation                                                                                   -
           Equipment - Accum. Depreciation                                                                                   -
           Vehicles - Accum. Depreciation                                                                                    -
           Accounts Payable                                                                                                  -
            Due to other funds                                                                                               -
            Advances from other funds                                                                                        -
           Accrued vacation/Compensated absences                                                                             -
           Claims and judgments                                                                                              -
           Net OPEB liability                                                                                                -
           Bonds, notes and loans payable                                                                                    -
           Net assets - Beginning balance                                                                                    -       Beginning fund balance from fund statement

      2. Enter unallocated amounts
           Investment earnings                                                                                               -
           Interest expense                                                                              -                           From fund Statement of Revenues, Expenses, and
           Transfers out                                                                                 -                           Changes in Net Assets
           Transfers in                                                                                                      -
           Charges to external customers                                                                                     -       Compute if not separately disclosed
                                                                                                                                     Calculated based on mark-up, e.g. if mark up is 10%
              Expenses for services provided externally                                                  -                           then cost for revenue of $330 is $300.
                                                                                                                                     From fund Statement of Revenues, Expenses, and
      3. Enter the fund's "change in net assets"                                                                                     Changes in Net Assets
           Enter a positive amount for income; enter a negative
           amount for a loss.                                                   -
           Sum of amounts in step 2. - calculated                               -
                                                                                                                                      If positive, an excess charge will be allocated; if
                                                                                                                                     negative, a loss or undercharge will be allocated to the
                 Amount to be allocated - calculated                            -                                            -       functions that used the service.

                                                                                                             -               -       Entry must balance !


 C. Adjust beginning net assets (fund balance) for prior year consolidation of internal service funds. (This amount will be the Internal balance
    amount created from last year's final entry for this fund.)
    This will not be an issue in year 1 of implementation. It will only be required in later years.

      1.
           What was the prior year internal balance entry for internal service funds
           allocation for business type activity? Indicate sign - this amount will be negative if
           business type activities owe (have a balance payable to) government type activities and positive if
           business type activities have a balance receivable from government type activities.
                                                                                                                                        Entries must net to zero.
      2.
           What was the prior year internal balance entry for the internal service fund
           allocation for governmental type activity? Indicate sign - this amount will be negative if
           government activities owe (have a balance payable to) business type activities, and positive if
           government type activities have a balance receivable from business type activities.


 D. Compute the adjustment to the expenses in the functional categories by multiplying the proportionate participation percentage determined in
    Step A by the amount of profit or loss to be allocated as calculated in Step D.
                                                                                         Adjustment to           Adjustment to
                                                                                         Governmental            Business-type
                  …. Automatically computed ….                                             Activities              Activities

           General government                                                                            -
           Public safety                                                                                 -
           Transportation                                                                                -
           Economic & physical development                                                               -
           Environmental protection                                                                      -
           Human Services                                                                                -
           Culture and recreation                                                                        -
           Education                                                                                     -
           Other program 1                                                                               -
                                                                                                                                      * In this scenario the governmental activities, as
           Water and sewer                                                                                                   -
                                                                                                                                     primary beneficiary, will have a balance payable to the
           Electric                                                                                                          -       business type activity of $304 which will be posted to
           Other enterprise 1                                                                                                -       the internal balance account to avoid an elimination
           Other enterprise 2                                                                                                -       entry later.
              Total Allocations
7/25/2011 - County model                                                                                 -                   -   *                                                      -       48
                                                                                                                                                                  Entry K.1



 E. Final entry for Conversion worksheet - [Entry K.1] - Posted to the Reclassification & Elimination Column

                                                                            Debit                   Credit

 K.1      Cash & cash equivalents                                                   -
          Investments                                                               -
          Due from other funds                                                      -
          Advances to other funds                                                   -
          Inventories                                                               -
          Prepaid items                                                             -
          Land                                                                      -
          Buildings                                                                 -
          Equipment                                                                 -
          Vehicles                                                                  -                                Permanent balance sheet accounts
            Buildings - Accum. Depreciation                                                                  -
            Equipment - Accum. Depreciation                                                                  -
            Vehicles - Accum. Depreciation                                                                   -
            Accounts Payable                                                                                 -
             Due to other funds                                                                              -
             Advances from other funds                                                                       -
            Accrued vacation/compensated absences                                                            -
            Claims and judgments                                                                             -
            Net OPEB liability                                                                               -
            Notes and loans payable                                                                          -
            Fund balance - Beginning balance                                                                 -
            Investment Earnings - General revenue                                                            -
            Charges for service - General government                                                         -
            Direct expenses - General government                                    -                                Unallocated amounts for operating accounts
            Interest and fees                                                       -
            Transfers in                                                                                     -
            Transfers out                                                           -
             General government expenditures                                                                 -
             Public safety expenditures                                                                      -
             Transportation expenditures                                                                     -
             Economic & physical development                                                                 -
             Environmental protection expenditures                                                           -       Allocation of profit or loss
             Human Services                                                                                  -
             Culture and recreation expenditures                                                             -
             Education                                                                                       -
             Other program 1                                                                                 -
             Internal balances *                                                                             -
                                                                                                             -


          Business-type Activities Adjustments:

          Internal balances *                                                       -
             Water and sewer expenses                                                                        -
                                                                                                                     Must be manually posted to business type
             Electric expenses                                                                               -       worksheet elsewhere on the website.
             Other enterprise #1                                                                             -
             Other enterprise #2                                                                             -
             Fund balance                                                                                    -
                                                                                    -                        -

          * This amount will become the reconciling amount to be entered in Section C, steps 1 & 2 for the next year. In subsequent years the amount for Section
          C becomes cumulative, with hear 1's balance added to year 2 etc. over time.




7/25/2011 - County model                                                                                                                                                49
                                                                                                                                                                             Entry L



                                                 Consolidation, Elimination and Reclassification Entries
                 Interfund balances between governmental funds must be eliminated for purposes of presenting the government-wide Statements. Only those net
                 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. These are the final steps to produce the trial balance that will become the government-wide statements.
                 Entries are posted only to the conversion worksheet.
                 1.   Transfers that occur during the year between governmental funds and between enterprise funds must be eliminated. Only transfers between
                      governmental and 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. The transfers between governmental funds and the internal
                      service funds must be eliminated for any internal service fund that has been consolidated with the governmental activities. After these entries,
                      the remaining transfers should be those between 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 Balance Sheet. 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 activities and
                      business-type activities. These reciprocal balances between activity types must be eliminated and reclassified as internal balances. The
                      numbers for the entry will be pulled from the Conversion worksheet by going to the appropriate account and looking for the balance reported in
                      the Statement of Net Assets' column. Once the entries in Section C and D have posted to the worksheet, all of these accounts should have a
                      zero balance and an "internal balance" account should remain with the net difference.
                 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 administrative activities such as printing, data processing, accounting staff, etc. are accounted for in function/fund #1 and charged
                      out or allocated to other functions or funds where the payment for the service is treated as revenue in function #1. In this scenario, the
                      expenditures are presented twice and the revenues are overstated for governmental activities. In this case, the costs should be presented in the
                      functions that were charged and the revenue and expense in function/fund #1 must be eliminated. IF THE PAYMENTS FROM THE USERS ARE
                      TREATED AS A REIMBURSEMENT (the expenditure in function/fund #1 is reduced by payment from the user function), NO
                      ADJUSTMENT IS NECESSARY. The entry created will reduce revenues and expenses in function/fund #1 for the expenditure amount allocated
                      to other functions. Profits or losses are presumed to be immaterial in this entry. If material, any profit or loss must be allocated back to the
                      functions using the service by a manual entry to the worksheet.
                 5.   The Statement of Net Assets should be presented in order of liquidity and the current portion of long-term liabilities such as bonds and notes
                      payable, compensated 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.
                 6.   Worksheets K.1-3 only handled internal service funds if the governmental activities were the primary users. For those internal service funds
                      where the business type activity was the primary user and the allocation entries were created in the business type conversion worksheet, those
                      entries applying to governmental activities must be entered in Section H below.
                 7.   Assumptions were made in journal entry F.1 (from Tab F.Other Capital Asset Entries) that all sales/disposals of capital assets resulted in gains
                      to miscellaneous revenue. If however a material loss occurred, it should be reclassified as a General Government expense. (Question #131
                      from Implementation Guide 1.) For material losses, complete the question in section I. below. Indicate the amount of the loss that qualifies as a
                      General Government expense and any material portion that meets the criteria for a special expense.
                 8.   In addition to the elimination and consolidation entries made below, it may be necessary to record manual entries in the "Other Miscellaneous
                      Entries As Needed" column. These would be conversion or reclassification entries that are unique for your unit which have not been previously
                      handled throughout the workbook. This is especially true of any special or extraordinary revenue or expense items. The special and
                      extraordinary item accounts are at the end of the trial balance in the Conversion Worksheet. Remember that any manual entries posted to these
                      columns must have balanced debits and credits.
                 9.   Fund balance must be reclassified to the net asset categories required for the presentation on the government-wide statements. Data for this
                      entry is entered manually to avoid circular logic. It should be one of the last steps performed. Worksheet M has been presented to help you
                      calculate the correct amounts to entered into Section J. below.



           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 General fund, special revenue funds, capital projects, debt service, and permanent funds) .                                    1,139,675

                 2.   What was the net amount of transfers between the governmental funds and the internal service funds whose
                      predominant user is governmental?                                                                                                              -




           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 to/from between
                      governmental and enterprise funds.                                                                                                             -



7/25/2011 - County model                                                                                                                                                          50
                                                                                                                                                                                                     Entry L



                 Reclassify inter-activity receivables and payables to internal balances (transactions between governmental type and business type activities.)
           C.    Note: Due to/from Fiduciary funds are not included here. It is best to separately classify them at the fund level but if that was not done, then complete Section D below.


                 1.   What is the amount of receivables -"due from other funds" due to the governmental activities from business type
                      activities? Go to the conversion worksheet and look at the balance in the Statement of Net Assets column for this account. Enter the amount (less
                      any portion for fiduciary funds) in the box to the right.                                                                                                                 -
                 2.   What is the amount of payables -"due to other funds" due to the business type activities from the governmental
                      activities? Follow the directions in step 1 above - entering the number from the Conversion worksheet - exclude fiduciary funds portion.

                 3.   What is the amount of receivables-"Advances to other funds" due to the governmental activities from business type
                      activities? Follow the directions in step 1 above - entering the number from the Conversion worksheet - exclude fiduciary funds portion.                                  -
                 4.
                      What is the amount of payables -"Advances from other funds" due to the business type activities from the governmental
                      activities? Follow the directions in step 1 above - entering the number from the Conversion worksheet - exclude fiduciary funds portion.                                  -



           D.    Reclassify receivables and payables to the fiduciary funds from governmental activities.

                 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(s) 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 expenditures incurred and revenues collected that is truly a cost of the
                      user function, e.g. services such as data processing, printing, accounting, garage, etc. For this
                      entry to be required, revenue has been recorded in the function providing the service. Indicate the
                      amount by function below. Include charges to and revenues collected from business type
                      activities. Assumption is that expenditures and revenue are equal and there is no material profit or loss to be
                      allocated. If reimbursement method was used, leave this section blank.

                                                                                                             General government                                                                 -
                                                                                                             Transportation                                                                     -
                                                                                                                                                                                                -



           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 installment purchases/COPs payable that will be due and payable within one year?                                                               171,429
                 3.   What is the amount of Bonds payable that will be due and payable within one year?                                                                                    625,000
                 4.   What is the amount of notes payable that will be due and payable within one year?                                                                                         -
                 5.   What is the amount of capital leases payable that will be due and payable within one year?                                                                            63,280
                 6.   What is the amount of compensated absences 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 debt #1 that will be due and payable within one year?                                                                               -
                 8.   What is the amount of other long-term debt #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 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
                                                                                  General government                           -                                     -                          -
                                                                                  Public Safety                                -                                     -                          -
                                                                                  Transportation                               -                                     -                          -
                                                                                  Economic & physical development              -                                     -                          -
                                                                                  Environmental protection                     -                                     -                          -
                                                                                  Human services                               -                                     -                          -
                                                                                  Cultural and recreation                      -                                     -                          -
                                                                                  Education                                    -                                     -                          -
                                                                                  Other program 1                              -                                     -                          -
                                                                                                                               -                                     -                          -




7/25/2011 - County model                                                                                                                                                                                  51
                                                                                                                                                                                                Entry L


           H.    Record any entries from Internal Service Fund Allocation where the Business type activity was dominant.

                 1.   Enter the amounts as positive numbers in the debit or credit columns for the internal balance and
                      the functions noted below. This entry was generated in the internal service fund allocation
                      worksheet for business type activities elsewhere on the website. The entry must balance. If
                      multiple internal service funds exist with dominant user of business type, please add the entries
                      together to arrive at the net debit or credit.                                                                               Debit                        Credit
                                                                              Internal balance                                                                 -                           -
                                                                              General government                                                               -                           -
                                                                              Public Safety                                                                    -                           -
                                                                              Transportation                                                                   -                           -
                                                                              Economic & physical development                                                  -                           -
                                                                              Environmental protection                                                         -                           -
                                                                              Human services                                                                   -                           -
                                                                              Cultural and recreation                                                          -                           -
                                                                              Education                                                                        -                           -
                                                                              Other program 1                                                                  -                           -
                                                                              Net assets - unrestricted                                                        -                           -
                                                                                                                                                               -                           -


           I.    Reclassify material losses in the sale of capital assets.             (Entry initially generated as F.1 from Tab F.Other Cap Asset Entries)


                 1.   What is the "material" amount of loss on disposal that should be reclassified as an expense to
                      General Government (Enter as a positive number. Miscellaneous revenue will be adjusted in this entry.)

                 2.   What is the "material" amount of loss on disposal that meets the criteria to be reported as a
                      special expense item. (Enter as a positive number - Miscellaneous revenue will be adjusted in this entry.)


           J.    Reclassify fund balance to net assets.            (See worksheet M for assistance with computation of this entry.)


                 Invested in capital assets net of related debt:
                 1. What are net capital assets (capital assets less accumulated depreciation.)                                                    14,958,505

                 2.   What is debt related to capital assets excluding unexpended debt proceeds?                                                     4,087,589

                      Invested in capital assets net of related debt:                                                                                                            10,870,916
                 Restricted for:
                    Capital projects                                                                                                                       -
                    Debt Service                                                                                                                           -
                    Transportation                                                                                                                         -
                    Public Safety                                                                                                                        4,578
                    Economic Development                                                                                                                   -
                    Cultural and Recreation                                                                                                              7,969
                    Education                                                                                                                           13,270
                    Register of Deeds                                                                                                                   17,285
                    Stabilization by State statute                                                                                                   4,483,728
                    Other restrictions #1                                                                                                                  -
                    Other restrictions #2                                                                                                                  -
                    Other restrictions #3                                                                                                                  -                      4,526,830
                 Unrestricted:                                                                                                                       2,913,735
                                                                                                                                                                   Recheck numbers above
                                                                                                                                                                   and detail in Worksheet M.
                      Proof Totals:        Total net assets ………. (from entries above)                                                              18,311,481      Above entry is out of
                                           Full accrual Beginning net equity + change in net equity - (from conversion worksheet)                  19,811,481      balance.




           J.    Final Entry for Conversion Worksheet [Entry L.1 to L.9]
                       From Section
                          Above                                                                                          Debit                    Credit
           L.1              A         OFS - Transfers in                                                                  1,139,675
                                           OFU - Transfers out                                                                                       1,139,675
           L.2              B         Due to other funds                                                                            -                              Eliminates intra-governmental
                                      Advances from other funds                                                                     -                                activity
                                           Due from other funds                                                                                                -
                                           Advances to other funds                                                                                             -
           L.3              C         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                                                                                               -
           L.4              D         Due from fiduciary funds                                                                      -
                                           Due from other funds                                                                                                -   Reclasses external
                                      Due to other funds                                                                            -                              receivables & payables
                                           Due to fiduciary funds                                                                                              -
           L.5              E         General government - charge for service                                                       -
                                      Transportation - charge for service                                                           -                              Eliminates doubling up effect
                                           General government                                                                                                  -   of interfunction activity
                                           Transportation                                                                                                      -


7/25/2011 - County model                                                                                                                                                                             52
                                                                                                                                                                 Entry L
           L.6             F   Claims payable                                                                 -
                               COPs payable                                                               171,429
                               Bonds payable                                                              625,000
                               Notes payable                                                                  -
                               Capital leases                                                              63,280
                               Compensated absences                                                           -
                               Other long-term liability #1                                                   -
                               Other long-term liability #2                                                   -                   Classify for liquidity
                                    Claims payable - current                                                               -      presentation
                                    COPs payable - current                                                             171,429
                                    Bonds payable - current                                                            625,000
                                    Notes payable - current                                                                -
                                    Capital leases - current                                                            63,280
                                    Compensated absences - current                                                         -
                                    Other long-term liability #1 - current                                                 -
                                    Other long-term liability #2 - current                                                 -
           L.7             G   General government                                                              -
                               Public Safety                                                                   -
                               Transportation                                                                  -
                               Economic & physical development                                                 -
                               Environmental protection                                                        -
                               Human services                                                                  -
                               Cultural and recreation                                                         -
                               Education                                                                       -
                               Other program 1                                                                 -
                                     Interest expense                                                                       -
                               Investment earnings                                                             -
                                     General government -operating grants & contributions                                   -
                                     Public Safety-operating grants & contributions                                         -
                                     Transportation-operating grants & contributions                                        -
                                     Economic & physical development-operating grts & contrib.                              -     Reclass program revenue
                                     Environmental protection-operating grants & contributions                              -     not adjusted previously
                                     Human services-operating grants & contributions                                        -
                                     Cultural and recreation-operating grants & contributions                               -
                                     Education-operating grants & contributions                                             -
                                     Other program 1-operating grants & contributions                                       -
                                     General government-capital grants & contributions                                      -
                                     Public Safety-capital grants & contributions                                           -
                                     Transportation-capital grants & contributions                                          -
                                     Economic & physical development-capital grts & cont.                                   -
                                     Environmental protection-capital grants & contributions                                -
                                     Human services-capital grants & contributions                                          -
                                     Cultural and recreation-capital grants & contributions                                 -
                                     Education-capital grants & contributions                                               -
                                     Other program 1-capital grants & contributions                                         -
                 L.8       H   Internal balance                                                                -            -
                               General government                                                              -            -
                               Public Safety                                                                   -            -
                               Transportation                                                                  -            -
                               Economic & physical development                                                 -            -     Record internal service
                               Environmental protection                                                        -            -     fund allocation where
                               Human services                                                                  -            -     business type is dominant
                               Cultural and recreation                                                         -            -
                               Education                                                                       -            -
                               Other program 1                                                                 -            -
                               Fund balance                                                                    -            -
                 L.10      I   General Government (expense)                                                    -                  Reclassifies material losses
                               Special item - expense (Loss on sale or disposal of assets)                     -                  on sale of cap assets as
                                                                                                                                  expense of Gen Govt or
                                    Miscellaneous revenue (Adjusts journal entry F.1 created earlier)                       -     records as special exp item
                 L.9       J   Fund balance                                                             18,311,481
                                    Invested in capital assets net of related debt                                   10,870,916
                                    Restricted for capital projects                                                         -
                                    Restricted for Debt Service                                                             -
                                    Restricted for Transportation                                                           -
                                    Restricted for Public Safety                                                          4,578
                                    Restricted for Economic Development                                                     -     Classifies net assets and
                                    Restricted for Cultural and Recreation                                                7,969   maps to the Statement of
                                    Restricted for Education                                                             13,270   Net Assets Column
                                    Restricted for Register of Deeds                                                     17,285
                                    Restricted for Stabilization by State statute                                     4,483,728
                                    Restricted for Other restrictions #1                                                    -
                                    Restricted for Other restrictions #2                                                    -
                                    Restricted for Other restrictions #3                                                    -
                                    Unrestricted                                                                      2,913,735
                                                                                                        20,310,865   20,310,865




7/25/2011 - County model                                                                                                                                              53
                                                                                                                                                                               M - Supporting Schedule




                                             Calculation of Net Assets-Governmental Activities
             Fund balance must be reclassified to a Net Assets presentation for the government-wide statements. This worksheet will assist you in the calculation of
             the numbers that must be entered manually into worksheet L. Worksheet L creates the entry that posts to the conversion worksheet to reclassify net
             asset. It was not automatically generated in order to avoid circular logic. This step will be one of the last performed in finalizing data in the conversion
             worksheet.
             The information collected in this worksheet will provide the specific information that must be input into Worksheet L. Section I. Entering these final
             numbers into worksheet L should complete the conversion process.


        A.                                               Restricted Net Assets - Data From Fund Statements
             Restricted net assets are calculated in total for the government-wide activities. However, the fund statements are needed to begin this calculation. In the
             yellow cells below, enter the indicated totals by function (which may require some aggregation of funds). For example, the functional expenditure for the
             Emergency Telephone Special Revenue Fund is public safety, so the restricted net assets for that fund are calculated entirely on that line. The Register
             of Deeds is shown as a separate category due to special legislation.
             Restricted net assets are those restricted by an external source such as a grantor agency or a creditor, or restricted by board action in conjunction with
             separate legislation, such as the levying of an occupancy tax. Board action by itself is not enough to restrict an asset. Once the determination is made
             that a restricted asset exists, then the total amount to be restricted must be calculated to include any receivables of that asset less any payables or
             unearned income that relate to that asset, not accounted for in the Stablization by State Statute amount. All numbers are entered as positive numbers.


                                                                         +                +                     -                     -              Net
                                                                  Unexpended                                                    Unearned          Restricted
             Governmental Activities By Function                     Cash    Receivables *               Payables **             Income            Assets
             General government                                            -                    -                   -                      -             -
             Public safety                                               4,233                4,478               4,478                    -           4,233       j
             Transportation                                                -                    -                   -                      -             -
             Economic and physical development                             -                    -                   -                      -             -
             Environmental Protection                                      -                    -                   -                      -             -
             Human services                                            200,000                  -                   -                      -         200,000       k
             Cultural and recreation                                     2,244                  -                 2,244                    -             -         l
             Education                                                 604,550                  -                93,530                    -         511,020       m
             Other program 1                                               -                    -                   -                      -             -
             Register of Deeds                                          17,285                                                                        17,285       n
             Stabilization by State statute                                -          4,555,099                       -                    -       4,555,099       o
             Debt service                                                  -                -                         -                    -             -
             Capital outlay                                                -                -                         -                    -             -

                   Total                                               828,312        4,559,577                100,252                     -       5,287,637

                                                              j Emergency Telephone System and Fire District Special Revenue Funds *
                                                              k Mental Health Programs
                                                              l Northwest Capital Projects Fund *, **
                                                              m
                                                                  School Capital Projects Fund; assumed all cash on hand is unspent sales tax revenue. *
                                                              n Special legislation for restriction of earnings for Register of Deeds
                                                              o Reserved for Stabilization of State Statute
                                                               * Receivables offset by deferred revenues should not be included in the Recievable
                                                                  column.
                                                              ** Payables are included in the payables column up to the amount that will not make row for
                                                                  Restricted net assets negative

        B.                                                           Capital Assets Net of Related Debt
             Governmental Activities
                                                                  Gross Capital      Accum.              Net Capital
             Capital assets, all governmental activities             Assets        Depreciation            Assets
              Land                                                  1,831,706
              Other non-depreciable assets
              Buildings                                             14,605,990        5,081,174
              Improvements other than buildings                      1,415,948          525,721
              Equipment                                              2,405,205        1,339,210                                 Capital asset data pulled from the St. of Net Assets Column in
              Vehicles and other motorized equipment                 1,098,566          600,762                                 Conversion Worksheet
              Infrastructure                                         1,040,672          338,033
              Asset class 1                                              5,000              245
              Asset class 2                                                                 -
              Construction in progress                                 440,563
                         Net Capital Assets                         22,843,650        7,885,145            14,958,505

             Capital debt calculation
              Total debt, gross                                     12,560,874
             Less:
               School debt for assets to which the county
               does not hold title                                   4,193,285
               Community college debt for assets to which the                        Enter the amount of debt related to capital assets.
               county does not hold title                            2,250,000       Enter as a positive number.
               Other debt not issued for capital, including
               hospital debt                                         2,030,000
               Unexpended proceeds                                         -
               Unamortized assets related to capital debt                  -
             Add:

7/25/2011 - County model                                                                                                                                                                          54
                                                                                                  M - Supporting Schedule




                                              Calculation of Net Assets-Governmental Activities
               Unamortized liabilities related to capital debt          -
             Total capital debt                                   4,087,589

                Capital assets net of related debt               10,870,916




7/25/2011 - County model                                                                                             55
                                                                                                     M - Supporting Schedule




                                           Calculation of Net Assets-Governmental Activities


        C.                                                  Calculation of Net Assets

             Total Net Assets                           19,811,481   from the Conversion worksheet

             Less Restricted Net Assets                  5,287,637   from Section A above

             Less Capital Assets Net of Related Debt    10,870,916   from Section B above

             Unrestricted Net Assets                    3,652,928




7/25/2011 - County model                                                                                                56

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:1
posted:7/25/2011
language:Esperanto
pages:56