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Adequate Facilities Fund <br />Cannon Memorial Library Fund <br />This change will be reflected in the Comprehensive Annual Financial Report <br />dated June 30, 2011. <br />Fund Balance Classifications (For information only) <br />GASB Statement No. 54 does not change the amount of total fund balance on <br />any fund statement. It does, however, significantly change the focus of fund <br />balance reporting from what purposes fund balance is going to be used or <br />appropriated for to what constraints are placed on how resources within fund <br />balance can be used and the identification of the source of those constraints. <br />Our traditional three component model (reserved, unreserved- designated, and <br />unreserved) has been replaced with five new components (Nonspendable, <br />Restricted, Committed, Assigned, and Unassigned). <br />Nonspendable — Physically not available to spend (Inventories, Prepayments) <br />Restricted — Resources subject to externally enforceable constraints on spending <br />(Debt covenants, Grantors, Contributors, State Statute) <br />Committed — Formal legal constraints placed by the governing board (Items <br />voted on by Board of Commissioners) <br />Assigned — Reflects a government's intended use of resources that does not <br />require formal Board action. (Appropriation of fund balance for prior year <br />uncompleted projects, funding for tax appeals outstanding, contribution to self <br />insurance funds. <br />Unassigned — Fund balance that has not been reported in any other <br />classification. (Available fund balance) <br />You will see the five new categories used in the Comprehensive Annual Financial <br />Report dated June 30, 2011. <br />Attachment number 1 <br />F -8 Page 184 <br />