IASBO 54 IASBO 54 TH TH ANNUAL ANNUAL CONFERENCE CONFERENCE CAFR STATISTICAL SECTION - CAFR STATISTICAL SECTION - CHANGES FOR FY ’05-’06 CHANGES FOR FY ’05-’06 Presented by: Presented by: Andrew L. Mace Andrew L. Mace WILLIAM F. GURRIE & CO., LTD. WILLIAM F. GURRIE & CO., LTD.
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IASBO 54 TH ANNUAL CONFERENCE CAFR STATISTICAL SECTION - CHANGES FOR FY ’05-’06 Presented by: Andrew L. Mace WILLIAM F. GURRIE & CO., LTD.
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Presented by:Presented by:Andrew L. MaceAndrew L. Mace
WILLIAM F. GURRIE & CO., LTD.WILLIAM F. GURRIE & CO., LTD.
GASBGASB 44 44
• What does GASB 44 mean for What does GASB 44 mean for School Districts?School Districts?
• The statistical section has been The statistical section has been updated with new requirements updated with new requirements to keep pace with GASB 34. to keep pace with GASB 34.
GASB 44GASB 44
• Statistical section is now split into Statistical section is now split into five different partsfive different parts– Financial Trends InformationFinancial Trends Information– Revenue Capacity InformationRevenue Capacity Information– Debt Capacity InformationDebt Capacity Information– Demographic & Economic InformationDemographic & Economic Information– Operating InformationOperating Information
• This part has four required This part has four required schedulesschedules– Schedule of Net AssetsSchedule of Net Assets– Schedule of Changes in Net AssetsSchedule of Changes in Net Assets– Schedule of Fund Balances, Schedule of Fund Balances,
Governmental FundGovernmental Fund– Schedule of Changes in Fund BalancesSchedule of Changes in Fund Balances
• Schedule of Net AssetsSchedule of Net Assets– Provides a comparison of Net Assets for a Provides a comparison of Net Assets for a
school district over the last ten fiscal yearsschool district over the last ten fiscal years– A requirement is that the net assets must A requirement is that the net assets must
be presented in three different line items be presented in three different line items and in the aggregateand in the aggregate• Invested in capital assets, net of related debtInvested in capital assets, net of related debt• RestrictedRestricted• UnrestrictedUnrestricted
• Schedule of Changes in Net AssetsSchedule of Changes in Net Assets– Provides a comparison of the Change in Provides a comparison of the Change in
Net Assets for a school district over the Net Assets for a school district over the last ten fiscal yearslast ten fiscal years
– Schedule also shows revenues and Schedule also shows revenues and expenses as seen in the Statement of expenses as seen in the Statement of Activities for the last ten fiscal yearsActivities for the last ten fiscal years
• Schedule of Fund Balances, Schedule of Fund Balances, Governmental FundGovernmental Fund– Shows ending fund balance for the Shows ending fund balance for the
General Fund and then for all the other General Fund and then for all the other funds combined for the last ten fiscal yearsfunds combined for the last ten fiscal years
– General Fund is broken down into General Fund is broken down into reserved and unreserved portionsreserved and unreserved portions
– The other funds are split into the reserved The other funds are split into the reserved amount and any unreserved portion is amount and any unreserved portion is presented by each individual fundpresented by each individual fund
• Schedule of Changes in Fund BalanceSchedule of Changes in Fund Balance– There are three requirementsThere are three requirements
• Show the Net Change in Fund Balance over the Show the Net Change in Fund Balance over the last ten fiscal yearslast ten fiscal years
• Provide the following ratio, Debt Service as a Provide the following ratio, Debt Service as a Percentage of Noncapital ExpendituresPercentage of Noncapital Expenditures
• Debt Service must broken into principal and Debt Service must broken into principal and interest portionsinterest portions
– Schedule also shows revenues by source Schedule also shows revenues by source and expenses by function for last ten fiscal and expenses by function for last ten fiscal yearsyears
• This part has four required This part has four required schedules schedules – Schedule of Equalized Assessed Schedule of Equalized Assessed
Valuation & Estimated Actual ValuationValuation & Estimated Actual Valuation– Schedule for Property Tax Rates – All Schedule for Property Tax Rates – All
Direct & Overlapping GovernmentsDirect & Overlapping Governments– List of Principal TaxpayersList of Principal Taxpayers– Schedule of Levies and CollectionsSchedule of Levies and Collections
• Schedule of Equalized Assessed Schedule of Equalized Assessed Valuation & Estimated Actual ValuationValuation & Estimated Actual Valuation– Shows information for last ten fiscal yearsShows information for last ten fiscal years– Presents real estate classes by type for Presents real estate classes by type for
example commercial, residential, etc.example commercial, residential, etc.– Provides totals for each fiscal year for each Provides totals for each fiscal year for each
of the following; equalized assessed of the following; equalized assessed valuation, estimated actual valuation, and valuation, estimated actual valuation, and percent total of fiscal yearpercent total of fiscal year
– Gives equalized assessed valuation, Gives equalized assessed valuation, estimated actual valuation, and percent estimated actual valuation, and percent total of fiscal year for each classtotal of fiscal year for each class
• Schedule for Property Tax Rates – Schedule for Property Tax Rates – All Direct & Overlapping All Direct & Overlapping GovernmentsGovernments– Needs to show a total for the direct rate Needs to show a total for the direct rate
of the School Districtof the School District– List the property tax rate for any List the property tax rate for any
overlapping government overlapping government – Then show provide a total for both the Then show provide a total for both the
direct rate and all overlapping ratesdirect rate and all overlapping rates
• List of Principal TaxpayersList of Principal Taxpayers– Two requirementsTwo requirements
• List the ten largest taxpayers or 50% of the List the ten largest taxpayers or 50% of the District’s EAVDistrict’s EAV
• Need to have this list for the current fiscal Need to have this list for the current fiscal year and the fiscal year nine years prioryear and the fiscal year nine years prior
• Schedule of Levies and CollectionsSchedule of Levies and Collections– Provides tax rates extended by fund and Provides tax rates extended by fund and
levies extended by fund for last ten fiscal levies extended by fund for last ten fiscal yearsyears
– Gives totals for both tax rates extended and Gives totals for both tax rates extended and levies extended for last ten fiscal yearslevies extended for last ten fiscal years
– Required to present levy collections as Required to present levy collections as current year collections and subsequent current year collections and subsequent collections; current & subsequent year collections; current & subsequent year collections are then totaledcollections are then totaled
– Also has a row for Percentage of extensions Also has a row for Percentage of extensions collected for each yearcollected for each year
• This part has four required This part has four required schedulesschedules– Ratio of Outstanding Debt by TypeRatio of Outstanding Debt by Type– Ratio of Net General Bonded Debt to Ratio of Net General Bonded Debt to
Estimated Actual Valuation and Net Estimated Actual Valuation and Net General Bonded Debt per CapitaGeneral Bonded Debt per Capita
– Computation of Direct and Overlapping Computation of Direct and Overlapping Bonded DebtBonded Debt
– Legal Debt Margin Information Legal Debt Margin Information
• Ratio of Outstanding Debt by TypeRatio of Outstanding Debt by Type– Presents any outstanding debt type for Presents any outstanding debt type for
each of the last ten fiscal yearseach of the last ten fiscal years– Gives a total for all types of outstanding Gives a total for all types of outstanding
debt for the last ten fiscal yearsdebt for the last ten fiscal years
• Ratio of Net General Bonded Debt to Ratio of Net General Bonded Debt to Estimated Actual Valuation and Net Estimated Actual Valuation and Net General Bonded Debt per CapitaGeneral Bonded Debt per Capita– Needs to have two ratiosNeeds to have two ratios
• Net General Bonded Debt / Estimated Net General Bonded Debt / Estimated Actual ValuationActual Valuation
• Net General Bonded Debt per CapitaNet General Bonded Debt per Capita
• Computation of Direct and Computation of Direct and Overlapping Bonded DebtOverlapping Bonded Debt– Gives the overlapping debt for each Gives the overlapping debt for each
overlapping government of the School overlapping government of the School DistrictDistrict
– Needs to have the total direct bonded Needs to have the total direct bonded debt for the School Districtdebt for the School District
– Provides a total amount which includes Provides a total amount which includes all direct and overlapping bonded debt of all direct and overlapping bonded debt of the School Districtthe School District
• Legal Debt Margin InformationLegal Debt Margin Information– Presents the Legal Debt Margin & Total Presents the Legal Debt Margin & Total
Net Debt Applicable to the Limit as a Net Debt Applicable to the Limit as a Percentage of Debt Limit for the last Percentage of Debt Limit for the last ten fiscal years ten fiscal years
– Provides a calculation of the Legal Debt Provides a calculation of the Legal Debt Margin for the current yearMargin for the current year
Demographic and Economic Demographic and Economic InformationInformation
• This part has two required schedulesThis part has two required schedules– List of Principal EmployersList of Principal Employers– Demographic and Economic StatisticsDemographic and Economic Statistics
Demographic and Economic Demographic and Economic InformationInformation
• List of Principal EmployersList of Principal Employers– Required to list the ten largest Required to list the ten largest
employers with number of employees employers with number of employees located inside the Districtlocated inside the District
– This list is to be done for the current This list is to be done for the current year and the year nine years prioryear and the year nine years prior
Demographic and Economic Demographic and Economic InformationInformation
• Demographic and Economic Demographic and Economic StatisticsStatistics– Gives information for the last ten yearsGives information for the last ten years– Provides the following four itemsProvides the following four items
• Population Population • Income per CapitaIncome per Capita• Personal income for the DistrictPersonal income for the District• Unemployment rateUnemployment rate
Operating InformationOperating Information
• This part has three required This part has three required schedulesschedules– Number of employees by functionNumber of employees by function– Operating indicators by functionOperating indicators by function– School building informationSchool building information– Miscellaneous Statistics (not required)Miscellaneous Statistics (not required)
Operating InformationOperating Information
• Number of employees by functionNumber of employees by function– Required to provide number of employees Required to provide number of employees
by function for the current fiscal yearby function for the current fiscal year– Also shows number of employees for the Also shows number of employees for the
last ten fiscal years by three main last ten fiscal years by three main categories which are broken down into categories which are broken down into even further detaileven further detail• AdministrationAdministration• TeachersTeachers• Other Supporting StaffOther Supporting Staff
Operating InformationOperating Information
• Operating indicators by functionOperating indicators by function– Required to show various operating Required to show various operating
indicators of the District by functionindicators of the District by function– These indicators can be changed to These indicators can be changed to
whatever best fits/describes the whatever best fits/describes the District’s activitiesDistrict’s activities
Operating InformationOperating Information
• School building informationSchool building information– Fulfills the capital asset requirement for Fulfills the capital asset requirement for
the Operating Information partthe Operating Information part– Gives the square footage, capacity Gives the square footage, capacity
(students), & enrollment for each school (students), & enrollment for each school building in the District over the last ten building in the District over the last ten fiscal yearsfiscal years
Operating InformationOperating Information
• Miscellaneous Statistics Miscellaneous Statistics – This schedule is not required as part of This schedule is not required as part of
GASB 44, but includes some nice GASB 44, but includes some nice information for the readers of the CAFR information for the readers of the CAFR to know and have at their disposalto know and have at their disposal
QUESTIONS?QUESTIONS?
Andrew L. MaceAndrew L. Mace
William F. Gurrie & Co., Ltd.William F. Gurrie & Co., Ltd.