consumed. A portion of fund balance, representing inventory, is considered Nonspendable. (Such reserves for inventory indicate that a portion of net current assets is set aside to replace or increase the inventory.) USDA commodity inventory consists of food donated by the United States Department of Agriculture. It is valued at the prices paid by the USDA for the commodities. Accounting and Reporting Changes for 20XX–XX Note to the Preparer: Provide a general description of the accounting and reporting changes and when they became effective. Examples include, but are not limited to: changing the basis of accounting from cash to modified accrual; or implementing provisions of a GASB Statement that modifies elements of the financial statements. X: DEPOSITS AND INVESTMENTS The _________ County Treasurer is the ex officio treasurer for the District and holds all accounts of the District. The District directs the County Treasurer to invest those financial resources of the District that the District has determined are not needed to meet the current financial obligations of the District. The district’s deposits and certificates of deposit are mostly covered by federal depository insurance (FDIC) or by collateral held in a multiple financial institution collateral pool administered by the Washington Public Deposit Protection Commission (PDPC). All of the District’s investments during the year and at year-end were insured or registered and held by the District or its agent in the District’s name. Washington State statutes authorize the district to invest in the following types of securities: Certificates, notes, or bonds of the United States, its agencies, or any corporation wholly owned by the government of the United States, Obligations of government-sponsored corporations which are eligible as collateral for advances to member banks as determined by the Board of Governors of the Federal Reserve System, Bankers’ acceptances purchased on the secondary market, Repurchase agreements for securities listed in the three items above, provided that the transaction is structured so that the public treasurer obtains control over the underlying securities, Investment deposits with qualified public depositories,
consumed. A portion of fund balance, representing inventory, is considered Nonspendable. (Such reserves for inventory indicate that a portion of net current assets is set aside to replace or increase the inventory.) USDA commodity inventory consists of food donated by the United States Department of Agriculture. It is valued at the prices paid by the USDA for the commodities. Accounting and Reporting Changes for 20XX–XX Note to the Preparer: Provide a general description of the accounting and reporting changes and when they became effective. Examples include, but are not limited to: changing the basis of accounting from cash to modified accrual; or implementing provisions of a GASB Statement that modifies elements of the financial statements. X: DEPOSITS AND INVESTMENTS The _________ County Treasurer is the ex officio treasurer for the District and holds all accounts of the District. The District directs the County Treasurer to invest those financial resources of the District that the District has determined are not needed to meet the current financial obligations of the District. The district’s deposits and certificates of deposit are mostly covered by federal depository insurance (FDIC) or by collateral held in a multiple financial institution collateral pool administered by the Washington Public Deposit Protection Commission (PDPC). All of the District’s investments during the year and at year-end were insured or registered and held by the District or its agent in the District’s name. Washington State statutes authorize the district to invest in the following types of securities: Certificates, notes, or bonds of the United States, its agencies, or any corporation wholly owned by the government of the United States, Obligations of government-sponsored corporations which are eligible as collateral for advances to member banks as determined by the Board of Governors of the Federal Reserve System, Bankers’ acceptances purchased on the secondary market, Repurchase agreements for securities listed in the three items above, provided that the transaction is structured so that the public treasurer obtains control over the underlying securities, Investment deposits with qualified public depositories,
OCBOAF196Notes1718A.docx