Restate prior year’s financial statements or prepare current year’s statements in accordance with GASB #34
  • Determine major and non-major fund 
  • Review reporting of component units 
  • Review and reclassify Trust & Agency funds for Fiduciary and Non-fiduciary funds 
  • Identify program revenues 
  • Determine long term and short term debt outstanding 
  • Review tax collection and revenue recognition practices in accordance with GASB #33 
  • Prepare reconciliation
Determine when and how to report Fixed Assets and Infrastructure
  • Asses the condition of Capital Assets 
  • Reclassify fixed assets and apply depreciation accordingly 
  • Decide whether to book or defer Infrastructure 
  • Match long term debt to fixed assets
Review and prepare Required Supplemental Information (RSI)
  • Prepare and report Budget to Actual results of operations 
  • Infrastructure condition and maintenance data 
  • Pension trend data 
Review and prepare Other Supplemental Information (OSI)
  • Additional detail or reconciliation of fund data
     
Prepare Management Discussion and Analysis (MD&A)
  • Present condensed government-wide comparative financial information – current to prior year  
  • Identify special and extraordinary items 
  • Charts, graphs and tables