“how to complete the new sco financial transactions report
TRANSCRIPT
“How to Complete the New SCO Financial Transactions Report” CSMFO webinar
2:00-3:30 p.m., Wednesday, December 6, 2017
The financial transactions report (FTR) required by the State Controller's Office pursuant to Government Code 53891 has been updated for the 2016-17 reporting year. The revised FTR incorporates significant GASB pronouncements such as Statement 68, conforms to generally accepted accounting principles, where possible, and improves compliance with government codes. Be sure to attend this webinar to ask questions and learn how you can expedite completion of your agency's report. Advance registration required for this no-charge webinar: https://attendee.gotowebinar.com/register/500267181000378881 Topics: 1. What are the changes? 2. How can you accurately and efficiently compile the information you need to complete the reports? 3. What are resources to get additional questions answered? Presenters: * Renee Hszieh, Acting Chief, Local Government Policy and Reporting Bureau, Local Government Programs and Services Division, State Controller's Office * Gary Marshall, Accounting Administrator, Local Government Policy and Reporting Bureau, State Controller's Office * Michael Lu, Fiscal Analyst, Local Government Report Section, State Controller’s Office Color Commentator: * Dennis Kauffman, Finance Director, Roseville, and member of the working group providing feedback on the reporting requirements to the SCO
Audience: local government finance professionals with responsibility for completing SCO reports
Get connected with these steps. 1. Register in advance for the webinar: There is no charge for participating in the webinars, but each requires advance registration. *** Advance registration required for this no-charge webinar: https://attendee.gotowebinar.com/register/500267181000378881 Be sure to "white list" or "allow" emails from [email protected] to receive notices for this webinar.
2. Connect with the webinar and audio: Use your logon information from the email confirmation you receive via email from GoToWebinar. We recommend the telephone option dial-in number provided by GoToWebinar for sound quality. Depending upon your internet connection, VOIP option for audio (computer speakers) can have delays or sound quality issues. 3. Ask questions: You may submit questions anonymously via email to [email protected] in advance or via the webinar during the panel discussion. As moderator for the session, Don Maruska will pose the questions. 4. Presenters’ presentation materials: We post these with the agenda at “Agendas & Archives” tab of www.csmfo.org/training/webinars. The PPT will be available 24 hours before the webinar. After a webinar occurs, a digital recording along with the PowerPoint materials and results of the polling questions will be available after 24 hours at the "Agendas & Archives" tab of www.csmfo.org/training/webinars. CPE Credits: If you are a member of CSMFO and wish to obtain CPE credit, you need to register and attend in your name, respond to at least 75% of the live polling questions, and pay $25 to CSMFO after notice from CSMFO following the webinar. After payment, CSMFO emails the CPE certificate as a PDF. Post-Webinar Group Discussions Many agencies are organizing groups to participate in the webinars (live or recorded) and discuss the topics among themselves after the webinars. Some are summarizing their discussions and distributing them to managers throughout their organizations. Use the CSMFO Coaching Program as an effective way to enhance professional development in your agency. Here are some discussion starters for this session: a. What information do we need to be gathering to complete the new SCO report? b. Who has responsibility for this task? c. What questions do we need to address to finish this task? MORE RESOURCES--See the "Coaching Corner" at www.csmfo.org/coaching for valuable resources to boost your career. These include a Financial Management Skills Inventory, Resource Matrix, Coaches Gallery of 24 volunteer CSMFO Coaches willing to help you on a one-to-one basis, and an archive of digital recordings and materials from past webinars at www.csmfo.org/training/webinars. Enjoy the resources to help you succeed in local government finance. Don Maruska, MBA, JD, Master Certified Coach Director, CSMFO Coaching Program; [email protected] Author “How Great Decisions Get Made” and “Take Charge of Your Talent” www.TakeChargeofYourTalent.com
Renee Hszieh, Acting Chief, Local Government Policy and Reporting Bureau Local Government Programs and Services Division, California State Controller’s Office Ms. Hszieh is the acting chief of the Local Government Policy and Reporting Bureau, California State Controller’s Office, Local Government Programs and Services Division. She joined the State Controller’s Office in 2013. Prior to the State Controller’s Office, Ms. Hszieh worked for the California Earthquake Authority and the California Public Employees Retirement System. In her current position, she is responsible for managing a group of professional staff who prescribes accounting, reporting and budgeting procedures for local government entities; reviews, analyzes and publishes annual financial transactions data for over 6,000 local government entities; and reviews, negotiates, and approves 58 county cost plans. Ms. Hszieh has a Bachelor of Science Degree in Business Administration, with concentration in Accounting, from California State University, Los Angeles. Gary Marshall, Accounting Administrator I (Specialist), Local Government Policy and Reporting Bureau Local Government Programs and Services Division, California State Controller’s Office Mr. Marshall is an Accounting Administrator I (Specialist) in the Local Government Reporting Section of the Local Government Policy and Reporting Bureau, California State Controller’s Office, Local Government Programs and Services Division. He joined the State Controller’s Office in 1998. While working at the State Controller’s Office, Mr. Marshall assisted in producing the State’s Comprehensive Annual Financial Report, implementing various Governmental Accounting Standards Board pronouncements. He participated in creating the current Cities Financial Transactions Report program and is the leadperson on the State Controller’s Office Financial Transactions Report revision project. Mr. Marshall has a Bachelor of Science Degree in Business Administration, with concentration in Accounting, from California State University, Sacramento. Michael Lu, Fiscal Analyst, Local Government Reporting Section, State Controller’s Office. Michael helped revise the financial transactions reports and has given several presentations on the form changes. Michael received his Bachelor’s degree from California State University, Sacramento.
Dennis Kauffman, Finance Director, Roseville, CA Dennis Kauffman is a CPA with 21 years of experience in government accounting and financial management. He recently became Finance Director in the City of Roseville. Previously, he was 16 years with the City of Sacramento’s Finance Department. Dennis was appointed Operations Manager in July 2013 and oversaw accounting, payroll, procurement, and the City’s redevelopment successor agency. For the previous ten years, he served as the City’s Accounting Division Manager and was responsible for accounts payable, accounting, payroll and financial reporting. Prior to joining the City of Sacramento, Dennis worked for a local CPA firm for five years, specializing in audits of school districts and other local governments. Prior to his work at a CPA firm, Dennis worked as a staff accountant in the private sector for a Sonoma County winery and a Los Angeles-based credit union. Dennis holds a Bachelor’s degree in Business Administration, with concentrations in Accounting and Finance, and a Master’s degree in Public Policy and Administration from California State University, Sacramento. In addition to his CPA license, Dennis has earned recognition from the Government Finance Officers Association (GFOA) as a Certified Public Finance Officer and from the Association of Government Accountants as a Certified Government Finance Manager. Dennis is also active on committees for the California Society of CPAs, the Government Finance Officers Association, CSMFO, and the League of California Cities.
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How to Complete the New SCO Financial Transactions Report
Coaching ProgramDecember 6, 2017
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Coaching Program: 19th year as member benefit
Career Development Committee
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Overview of SessionTopics:
1. What are the changes?
2. How can you accurately and efficiently compile the information you need to complete the reports?
3. What are resources to get additional questions answered?
Presenters:
Renee Hszieh, Acting Chief, Local Government Policy and Reporting Bureau, Local Government Programs and Services Division, State Controller's Office
Gary Marshall, Accounting Administrator, Local Government Policy and Reporting Bureau, State Controller's Office
Michael Lu, Fiscal Analyst, Local Government Report Section, State Controller’s Office
CSMFO Color Commentator:
Dennis Kauffman, Finance Director, Roseville, CA
Moderator:
* Don Maruska, Director, CSMFO Coaching Program
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Polling Question #1:
How many persons are participating at your location?
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Local Government Programs and Services Division
BETTY T. YEECalifornia State Controller
Key concepts:
• Most of the data requested was also collected in the previous forms
• The forms operate much as the previous forms
• The forms are more consistent across FTRs
• The forms that collect data from financial statements should look more like GAAP
• Report what you report in your primary government financial statements
City FTR Changes
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Key concepts (continued):
• Do not report anything that is reported separately in another FTR
• Because this is the first year of a new online system, some records, such as the debt forms, will need to be recreated
City FTR Changes (continued)
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https://www.sco.ca.gov/ard_locinstr_cities_forms.html
• Alert Package
• Electronic Reporting Program
• 2016-17 New Forms and Instructions
City FTR Changes (continued)
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City FTR Changes (continued)
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Online forms:
• Main Menu:‒ Required forms‒ Optional forms
• Multi-Record forms: ‒ New button‒ Rename button‒ Delete button‒ Drop-down list to navigate between records
(appears after first record is created)
City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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Online forms (continued):
• Check Errors button
• Footnotes
• Always Save before Close
• Row numbering to help preparer communicate with LGRS staff
City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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Online forms (continued):
• Beginning balance fields: ‒ Beginning balance fields are editable only in
the first year of implementation (FY 2016-17).
‒ In subsequent years, beginning balance will be prior-year ending balance if prior-year record had an ending balance.
• The revised forms collect data at the fund financial statement level.
City FTR Changes (continued)
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City FTR Changes (continued)
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Internal Service Fund
City FTR Changes (continued)
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Internal Service Fund (cont.)
Online forms (continued):
• The revised forms do not collect data at the government-wide statement level.
• Follow the instructions to complete the forms.
General changes: Reformatted for consistency across FTR systems (Cities, Counties, and Special Districts):
• Form headings
• Form account names
City FTR Changes (continued)
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General Information form:
• Added:– Fax No. field to City Fiscal Officer section
– “Does the report contain data from audited financial statements?” section
• Moved Email from City Mailing Addresssection to City Fiscal Officer section.
Comments form: No changes.
City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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General Information (cont.)
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Internal Service Fund (ISF) form:
• General changes:– Reformatted to agree with GAAP presentation
– Exceptions:o Separate sections for nonoperating revenues
and nonoperating expenseso Capital contributions detailo Net Position components (these fields roll up to
the Statement of Net Position (SNP))
• ISF form may have multiple records for more than one ISF.
City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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Internal Service Fund (cont.)
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City FTR Changes (continued)
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Internal Service Fund (cont.)
Enterprise Fund (EF) forms:
• General changes:– Reformatted to agree with GAAP
presentation (same as ISF form)– Deleted “Is this Function Accounted for as an
Enterprise Fund?”EF forms are only for EFs, not governmental funds.
– Combined elements from other FTRs for each EF form
– One form for each EF for all FTRs
City FTR Changes (continued)
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Enterprise Fund (EF) forms (continued):
• New forms:– Harbor and Port
– Hospital
– Solid Waste
Other Enterprise Fund form: Similar functions to ISF form (multi-record form)
City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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Conduit Financing form:• New form (originally only for Special Districts)• Report as EF or Fiduciary Fund• Program only allows one column to be
completed• Minimum: Complete Conduit Debt Issued
and Outstanding section
Functional Revenue Details form: Revised form will generate a report by revenues and by expenditures.
City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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Conduit Financing (cont.)
City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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Polling Question #2:
Which form of reporting do you intend to use for the FY 2016-2017 FTR?
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Statement of General and Functional Revenuesforms:
• Specific changes:– Taxes form: Added:
o Pass-through Property Taxes (ABX1 26)
o Residual Property Taxes (ABX1 26)
o Tax Increment
o Parcel Tax
– Special Benefit Assessments form: Minor account relabeling
City FTR Changes (continued)
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City FTR Changes (continued)
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Statement of General and Functional Revenuesforms (continued):
• Specific changes (continued):– Licenses and Permits form: General
Revenues allowed for each account
– Fines and Forfeitures and Revenue from Use of Money and Property form: General and Functional Revenues allowed for each account
City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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Statement of General and Functional Revenuesforms (continued):
• Specific changes (continued):– Intergovernmental – State form:
o Added Public Safety – 2011
o Deleted:
Motor Vehicle In-Lieu Tax
Other State Grants from Enterprise Activities
City FTR Changes (continued)
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Statement of General and Functional Revenuesforms (continued):
• Specific changes (continued):– Intergovernmental – State form (continued):
o Moved from Other State Grants section to Intergovernmental – State section:
Other Intergovernmental – State 1
Other Intergovernmental – State 2
City FTR Changes (continued)
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City FTR Changes (continued)
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Statement of General and Functional Revenuesforms (continued):
• Specific changes (continued):– Intergovernmental – Federal, County, and
Other Taxes In-Lieu form: Deleted:o Other Federal Grants from Enterprise Activities
o Other County Grants from Enterprise Activities
– Charges for Current Services form: Minor account relabeling
City FTR Changes (continued)
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City FTR Changes (continued)
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Statement of General and Functional Revenuesforms (continued):
• Specific changes (continued):– Miscellaneous Revenues and Grand Totals
form:o Renamed the Other Revenues formo Added Development Impact Feeso Deleted: Contributions from Non-Govt. Sources for
Enterprise Activities Other Revenues from Enterprise Activities
City FTR Changes (continued)
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Statement of General and Functional Revenuesforms (continued):
• Specific changes (continued):– Miscellaneous Revenues and Grand Totals
form (continued):o Moved Sale of Real and Personal Property to
Other Financing Sources (Uses) (new form)o Combined with Grand Totals
– Deleted form, moved to new form: Other Financing Sources and Grand Total Revenues
City FTR Changes (continued)
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City FTR Changes (continued)
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Statement of Net Expenditures forms:
• General change: Capital Outlay and Debt Service columns moved to new form as sections.
• Specific changes:– General Government and Public Safety
form: Added:o Other General Government 1
o Other General Government 2
City FTR Changes (continued)
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City FTR Changes (continued)
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Statement of Net Expenditures forms (continued):
• Specific changes (continued):– Transportation and Community
Development form: Minor account relabeling
– Health and Culture and Leisure form: Minor account relabeling
– Public Utilities and Other Expenditures form: o Renamed the Public Utilities, Other, and
Grand Total formo Grand Totals moved to new form
City FTR Changes (continued)
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City FTR Changes (continued)
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Statement of Net Expenditures forms (continued):
• Specific changes (continued):– Debt Service, Capital Outlay, and Grand
Totals form: o New formo Moved to this form as sections: Debt Service column Capital Outlay column (by function)
o Combined with Grand Totals
City FTR Changes (continued)
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City FTR Changes (continued)
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Major Object Classification form:
• Deleted columns not needed with new Net Expenditures forms structure:– Capital Outlay– Debt Service
• Added:– Total Operating Expenditures– Other Debt Service– Total Debt Service– Total Capital Outlay
City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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Major Object Classification (cont.)
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Other Financing Sources (Uses) and Change in Fund Balance form:
• New form
• Formatted to agree with GAAP presentation
• Includes Other Financing Sources (old form)
City FTR Changes (continued)
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City FTR Changes (continued)
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Debt forms:
• Long-Term Debt
• Other Long-Term Debt
• Construction Financing
• Lease Obligations
• General changes:‒ Revised to conform to Government Code
‒ Combined elements from other FTRs for each debt form
City FTR Changes (continued)
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Debt forms (continued):
• General changes (continued):‒ One form for each debt category for all FTRs
‒ Added:o Fund Type
o Principal Unspent
o Principal Outstanding, Current Portion
o Principal Outstanding, Noncurrent Portion
City FTR Changes (continued)
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Long-Term Debt form:• Added:
‒ Percent of Pledge‒ Amount Held in Reserve
• Deleted Principal Payments Made to Date
Other Long-Term Debt form:• Added
‒ Beginning Maturity Year‒ Principal Issued in Current Fiscal Year‒ Principal Defeased in Current Fiscal Year
• Deleted Amount of Principal Repaid to Date
City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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Bonds and COPs (cont.)
City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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Loans, Notes and Other (cont.)
City FTR Changes (continued)
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Construction Financing form: Added:• Federal or State Financing• Contract Date• Maximum Repayment Obligation per
Contract section• Principal Received to Date• Principal Expended to Date• Principal Issued in Current Fiscal Year• Note• Estimated Payment Schedule
City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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Federal and State (cont.)
City FTR Changes (continued)
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Federal and State (cont.)
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City FTR Changes (continued)
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Lease Obligations form:• Added:
– Original Debt Term (years) – Beginning Maturity Year – Ending Maturity Year – Initial Debt Obligation– Separate Reason for Adjustment for Principal
and Interest– Conditions
• Deleted:– Can Local Agency Cancel Agreement?– Enterprise or Governmental Fund Makes
Payment?
City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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Lease Obligations (cont.)
City FTR Changes (continued)
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Debt Service Reconciliation form:
• Formatted to reconcile in separate columns:– Governmental Funds
– Internal Service Fund– Enterprise Funds
• Reconciles the current-year principal and interest paid on the debt forms with: ‒ Debt service (principal and interest) reported
for governmental funds‒ Interest expense reported for ISF and EFs
City FTR Changes (continued)
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Debt Service Reconciliation form (continued):• Deleted DSR Balance Sheet and Debt Pages
section (not needed with new programming)
• Debt Payments from Debt forms:‒ Governmental funds fund type: Program adds
up these accounts for all of the debt forms:o Principal Paid in Current Fiscal Yearo Interest Paid in Current Fiscal Year
‒ ISF and EF fund types: Program adds up Interest Paid in Current Fiscal Year for all of the debt forms.
City FTR Changes (continued)
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Debt Service Reconciliation form (continued):
• Debt Service:‒ Governmental funds fund type: Program adds
up these accounts from the Debt Service section of the Major Object Classification form:o Principal Payments
o Interest Payments
o Lease Principal
City FTR Changes (continued)
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Debt Service Reconciliation form (continued):• Debt Service (continued):
‒ ISF and EF fund types: Program adds up Interest Expense as reported in the Nonoperating Expenses section:o ISF formo EF forms (including Enterprise Fund column
of the Conduit Financing form)
• Difference: Total Debt Payments from Debtforms should equal Debt Service for each column.
City FTR Changes (continued)
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Debt Service Reconciliation form (continued):
• Difference (continued): If Difference is not zero:‒ Determine if a form needs correction:
o Debt formo Major Object Classification formo ISF formo EF forms (including Enterprise Fund column
of the Conduit Financing form)
‒ If there is a legitimate reason for difference, explain in Reason for Difference.
City FTR Changes (continued)
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City FTR Changes (continued)
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Polling Question #3:
Which of these statements are true?
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Checklist of Services Provided form: Moved fields to Summary and Statistics form:
• Transient Lodging Tax‒ Tax Rate‒ Effective Date
• Utility Users Tax
City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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Checklist of Services Provided (cont.)
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Financial Condition forms:• Balance Sheet• Statement of Net Position• Statement of Fiduciary Net Position• Capital Assets and Long-Term Obligations• General changes:
‒ Formerly the Worksheet for Completing Balance Sheet forms
‒ Formatted to agree with GAAP presentation‒ Individual categories are the most common
accounts in the city CAFRs‒ One set of forms for all FTRs
City FTR Changes (continued)
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Balance Sheet form:
• Added:‒ Deferred Outflows of Resources
‒ Deferred Inflows of Resources
• GASB 54 fund balance components
Statement of Net Position form:
• Added:‒ Deferred Outflows of Resources (DOR)‒ Deferred Inflows of Resources (DIR)
City FTR Changes (continued)
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Statement of Net Position form (continued):
• Separate DOR/DIR accounts:– Related to Pensions
– Related to OPEB
– Other Deferred Out/Inflows of Resources
• Accounts that auto-fill:– Long-Term Debt, Due Within One Year:
Current portion of outstanding principal from debt forms for Internal Service and Enterprise fund types
City FTR Changes (continued)
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Statement of Net Position form (continued):• Accounts that auto-fill (continued):
– Noncurrent Liabilities: o Noncurrent portion of outstanding principal
from debt forms for Internal Service and Enterprise fund types
o Long-Term Debt form: General Obligation Bonds Revenue Bonds Certificates of Participation Other Bonds
City FTR Changes (continued)
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Statement of Net Position form (continued):• Accounts that auto-fill (continued):
– Noncurrent Liabilities (continued): o Other Long-Term Debt form: Loans (Other Long-Term Debt) Notes (Other Long-Term Debt) Other (Other Long-Term Debt)
o Construction Financing form: Construction Financing – Federal Construction Financing – State
o Lease Obligations form: Lease Principal
City FTR Changes (continued)
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Statement of Net Position form (continued):• Accounts that auto-fill (continued):
– Net Position (Deficit): o Net position components from proprietary fund
forms: ISF form EF forms (including Enterprise Fund
column of the Conduit Financing form)o Net Investment in Capital Assetso Restrictedo Unrestricted
City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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Balance Sheet –Governmental Funds (cont.)
City FTR Changes (continued)
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Balance Sheet –Governmental Funds (cont.)
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City FTR Changes (continued)
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City FTR Changes (continued)
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Statement of Net Position –Proprietary Funds (cont.)
City FTR Changes (continued)
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Statement of Net Position –Proprietary Funds (cont.)
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City FTR Changes (continued)
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Statement of Net Position –Proprietary Funds (cont.)
Statement of Fiduciary Net Position form: Added:
• Deferred Outflows of Resources
• Deferred Inflows of Resources
• Net Position Held in Trust
City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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Statement of Net Position –Fiduciary Funds (cont.)
Capital Assets and Long-Term Obligations form:
• Governmental fund:– Noncurrent assets (e.g., capital assets)
– Noncurrent liabilities (e.g., long-term debt, net pension liability)
• Not GAAP
• Form needed because the FTRs collect data at the fund statement level, not government-wide
City FTR Changes (continued)
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Capital Assets and Long-Term Obligations form (continued):
• Accounts that auto-fill:– Outstanding principal at end of fiscal year from
debt forms for Governmental fund type– See slide for Statement of Net Position
Noncurrent Liabilities
Consolidated Statement of Assets, Liabilities, and Fund Balances/Working Capital (Balance Sheet) form: Deleted form because the revised financial condition forms make it unnecessary.
City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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Capital Assets and Long Term Obligations (cont.)
Summary and Statistics form:• Formatted to summarize in separate columns:
– Governmental Funds– Proprietary Funds
• Most fields auto-fill with amounts carried forward from other forms.
• The only input is to the subforms.• Moved fields from Checklist of Services
Provided form:– Transient Lodging Tax (2 fields)– Utility Users Tax
City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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Summary and Statistics (cont.)
Parcel Tax form:
• Improved functionality
• Multi-record form
• Instructions included in Cities FTR instructions
City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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Parcel Tax (cont.)
List of Revenues and Expenditures: The list was updated so the Reporting Categories match the revised account titles in governmental fund revenues and expenditures forms.
Flowcharts: The flowcharts were updated for changes to forms and programming.
City FTR Changes (continued)
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City FTR Changes (continued)
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City FTR Changes (continued)
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Polling Question #4:
Which of these are true about the Financial Condition forms?
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Questions?
City FTR Changes (continued)
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For the cities that prepare Special District FTRs, the following section explains the differences between the revised SDs FTR forms and the revised Cities FTR forms.
General Information form: Added:
• Email field to Report Prepared By section
• Firm Name field to Independent Auditor section
Special District FTR ChangesDifferences from Cities FTR
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Special Districts –General Information (cont.)
Enterprise Fund forms:
• Special District-only fields:– Taxes and Assessments section:
o Same as previous district forms: Current Secured and Unsecured (1%) Voter-Approved Taxes Property Assessments Special Assessments Prior-Year Taxes and Assessments Penalties and Cost of Delinquent Taxes
and Assessments
Special District FTR ChangesDifferences from Cities FTR (continued)
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Enterprise Fund forms (continued):
• Special District-only fields (continued):– Taxes and Assessments section (continued):
o New fields: Pass-through Property Taxes (ABX1 26) Special Taxes
Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Special Districts –Airport Enterprise (cont.)
Enterprise Fund forms (continued):
• Special District-only fields (continued):– Intergovernmental – State section:
o Same as previous district forms: Homeowners Property Tax Relief Timber Yield
o State Other and In-Lieu Taxes account separated:
In-Lieu Taxes
Other Intergovernmental – State
Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Special Districts –Airport Enterprise (cont.)
Enterprise Fund forms (continued):
• New forms:– Gas– Transit: Not operational for FY 2016-17– Other Enterprise: Functionally the same as
Cities FTR• Waste Disposal form revised to make two
new forms for consistency with Cities and Counties FTRs:– Sewer– Solid Waste
Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Transportation form: This form is not operational for FY 2016-17.
Statement of Revenues, Expenditures, and Changes in Fund Balances form (formerly Non-Enterprise Activity):
• Amounts reported by governmental fund type
• Reformatted to agree with GAAP presentation
Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Statement of Revenues, Expenditures, and Changes in Fund Balances form (continued):
• Specific changes:– Pass-through Property Taxes (ABX1 26)– Residual Property Taxes (ABX1 26)– Tax Increment– Parcel Tax– Sections with more than one reporting
category: Added:o “Other” account
o “Total” for section
Special District FTR ChangesDifferences from Cities FTR (continued)
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Statement of Revenues, Expenditures, and Changes in Fund Balances form (continued):
• Specific changes (continued):– Other Financing Sources (Uses) section:
Added accounts per authoritative financial reporting standards:o Other Long-Term Debt Proceedso Premium on Bonds Issuedo Discount on Bonds Issuedo Demand Bondso Proceeds from Sale of Capital Assetso Insurance Recoveries
Special District FTR ChangesDifferences from Cities FTR (continued)
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Statement of Revenues, Expenditures, and Changes in Fund Balances form (continued):
• Specific changes (continued):– Special and Extraordinary Items section– Reason for Adjustment
• Deleted Redevelopment Pass-Through
Consolidation of Fund Equities and Transfersform: Deleted form because the new program makes it unnecessary.
Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Special Districts - Statement of Revenues, Expenditures, and Changes in Fund Balances (cont.)
Special District FTR ChangesDifferences from Cities FTR (continued)
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Special Districts - Statement of Revenues, Expenditures, and Changes in Fund Balances (cont.)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Special Districts - Statement of Revenues, Expenditures, and Changes in Fund Balances (cont.)
Special District FTR ChangesDifferences from Cities FTR (continued)
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Special Districts –Statement of Revenues, Expenditures and Changes in Fund Balances (cont.)
Debt forms: Special District-only fields:
• Long-Term Debt form: Same as previous district form:– District-wide or Improvement District/Zone– Improvement District/Zone (if applicable)– Activity
Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Debt forms: Special District-only fields (continued):
• Other Long-Term Debt form:– Same as previous district form: Activity– From Time Warrants form:
o Principal Due but Not Presented (Time Warrants Only)
o Interest Due but Not Presented (Time Warrants Only)
Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Special Districts –Loans, Notes, and Other (cont.)
Debt forms: Special District-only fields (continued):• Construction Financing form: Activity
(same as previous district form)• Lease Obligations form: Activity (same as
previous district form)
Financial Condition forms:• Four individual forms replace two previous
forms.• Statement of Fiduciary Net Position form:
This form only reports Private-Purpose Trust and Agency funds for SDs.
Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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Summary and Statistics form: This form is not included in SDs FTR forms.
Definitions:• Fund Balance components: See the Balance
Sheet form instructions.• Net Position components: See the Internal
Service Fund form instructions.
List of Revenues and Expenditures: This list is not necessary for SDs.
Special District FTR ChangesDifferences from Cities FTR (continued)
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Special District FTR ChangesDifferences from Cities FTR (continued)
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From SD FTR Instructions, p. 143
Special District FTR ChangesDifferences from Cities FTR (continued)
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From SD FTR Instructions, p. 17
Polling Question #5:
Which of these statements for Special Districts are true?
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Questions?
Special District FTR ChangesDifferences from Cities FTR (continued)
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LGRS Help Desk Contact:
Email: [email protected]
Phone: (916) 322-9672
SD Help Desk Contact:
Email: [email protected]
Phone: (916) 327-1017
Dang Nguyen: 916-322-0109
Edward Serafica: 916-323-5700
Gary Marshall: 916-324-1147
Contact Information
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Post-Webinar Discussion Questions
a. What information do we need to be gathering to complete the new SCO report?
b. Who has responsibility for this task?
c. What questions do we need to address to finish this task?
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Contacts for today’s webinar
Presenters:
Renee Hszieh, Acting Chief, Local Government Policy and Reporting Bureau, Local Government Programs and Services Division, State Controller's Office [email protected]
Gary Marshall, Accounting Administrator, Local Government Policy and Reporting Bureau, State Controller's Office [email protected]
Michael Lu, Fiscal Analyst, Local Government Report Section, State Controller’s Office [email protected]
CSMFO Color Commentator:
Dennis Kauffman, Finance Director, Roseville, CA [email protected]
Moderator:
* Don Maruska, Director, CSMFO Coaching Program [email protected]
Polling Question #6
How was the webinar of value for you and your agency?
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Resources and Feedback
A digital audio recording of the session and an Agenda packet with PDF of the PPT with polling results and other materials will become available in ~ 24 hours at the “Agendas & Archives” tab of www.csmfo.org/training/webinars
Other coaching resources, including volunteer one-to-one coaches are available at www.csmfo.org/training/coaching
Please complete the follow up survey, including suggested topics for future webinars.