Major Features of 's Government-wide and Fund Financial Statements Fund Statements Government-wide Fiduciary Funds Statements Governmental Funds Proprietary Funds Scope government (except The activities of the Activities the School Instances in the fiduciary funds and the School that are not operates similar to School is the trustee or fiduciary component proprietary or fiduciary, private businesses, agent for someone units) such as elementary and the food service else's resources. high school education operation. programs. Required *Statement of Net *Balance Sheet *Statement of Net *Statement of Net Financial Position *Statement of Revenues, Position Position Statements *Statement of Activities Expenditures and *Statement of *Statement of Changes Changes in Fund Revenues, in Net Position Balances Expenses and Changes in Net Position *Statement of Cash Accounting Accrual accounting Modified accrual Accrual accounting Accrual accounting and Basis and and economic accounting and current and economic economic resources Measurement resources focus financial resources resources focus focus Type of All assets and Only assets expected to All assets and All assets and liabilities, Asset/Liability liabilities, both be used up and liabilities liabilities, both both and Information financial and capital, that come due during the financial and capital, the School's funds and short-term and year or soon thereafter no and short-term and do not currently contain long-term capital assets included long-term capital assets although they can Type of All revenues and Revenues for which cash All revenues and All revenues and Inflow/Outflow expenses during year, is received during or soon expenses during expenses during year, Information regardless of when after the end of the year; year, regardless of regardless of when cash cash is received or expenditures when goods when cash is is received or paid paid or services have been received or paid received and payment is due during the year or soon thereafter Government-wide Statements The government-wide statements report information about the School as a whole using accounting methods similar to those used by private-sector companies. The statement of net position includes all of the government’s assets and liabilities. All of the current year’s revenues and expenses are accounted for in the statement of activities regardless of when cash is received or paid. The two government-wide statements report the School’s net position and how they have changed. Net position is one way to measure the School’s financial health or position.
Major Features of 's Government-wide and Fund Financial Statements Fund Statements Government-wide Statements Governmental Funds Proprietary Funds Fiduciary Funds Scope government (except fiduciary funds and the fiduciary component units) The activities of the School that are not proprietary or fiduciary, such as elementary and high school education programs. Activities the School operates similar to private businesses, the food service operation. Instances in the School is the trustee or agent for someone else's resources. Required Financial Statements *Statement of Net Position *Statement of Activities *Balance Sheet *Statement of Revenues, Expenditures and Changes in Fund Balances *Statement of Net Position *Statement of Revenues, Expenses and Changes in Net Position *Statement of Cash *Statement of Net Position *Statement of Changes in Net Position Accounting Basis and Measurement Accrual accounting and economic resources focus Modified accrual accounting and current financial resources Accrual accounting and economic resources focus Accrual accounting and economic resources focus Type of Asset/Liability Information All assets and liabilities, both financial and capital, and short-term and long-term Only assets expected to be used up and liabilities that come due during the year or soon thereafter no capital assets included All assets and liabilities, both financial and capital, and short-term and long-term All assets and liabilities, both and the School's funds do not currently contain capital assets although they can Type of Inflow/Outflow Information All revenues and expenses during year, regardless of when cash is received or paid Revenues for which cash is received during or soon after the end of the year; expenditures when goods or services have been received and payment is due during the year or soon thereafter All revenues and expenses during year, regardless of when cash is received or paid All revenues and expenses during year, regardless of when cash is received or paid Government-wide Statements The government-wide statements report information about the School as a whole using accounting methods similar to those used by private-sector companies. The statement of net position includes all of the government’s assets and liabilities. All of the current year’s revenues and expenses are accounted for in the statement of activities regardless of when cash is received or paid. The two government-wide statements report the School’s net position and how they have changed. Net position is one way to measure the School’s financial health or position.