Implemented GASB Statement No. 77, Tax Abatement Disclosures. The following changes have been made to the sample report. Included a note disclosure regarding the County’s tax abatements and tax abatements of entities in the Notes to Financial Statements. (Note 13) a New Accounting Pronouncement footnote in the Notes to Financial Statements. (Note 18) Included a note disclosure in the Notes to Financial Statements regarding a prospective accounting change for GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions. (Note 19) findings included in Part II and Part III of the Schedule of Findings and Questioned Costs were reviewed to more clearly identify the elements of a finding as required by Government Auditing Standards, Chapter 4.10-.14 and Title 2, U.S. Code of Federal Regulations, Part 200.516, Uniform Administrative Requirements, Costs Principles and Audit Requirements for Federal Awards (Uniform Guidance). Additional Notes Also attached are a sample Corrective Action Plan for Audit Findings (See Sample A) and a sample Summary Schedule of Prior Audit Findings (See These are provided for Sample B). illustrative purposes only and are not intended to match the findings shown in the sample entity nor are they required to be filed with this Office. If the County has deposits in credit unions at June 30, 2017, Note 2 should be modified to indicate whether the deposits were covered by federal depository insurance, collateralized with securities or letters of credit held by the County or the County’s agent in the County’s name or by the State Sinking Fund in accordance with Chapter 12C of the Code of Iowa. If the County operates a sanitary landfill, disclosure of the closure and postclosure care should be included in the Notes to Financial Statements. In addition, findings pertaining to compliance with solid waste fees used or retained and financial assurance should be included in Part IV of the Schedule of Findings and Questioned Costs. See Sample Accrual County Landfill Association or Sample Cash Landfill Commission for examples of the required disclosures and findings. Following is an example footnote for an retirement or other benefit plan or policy which meets the definition of a benefit” as defined by GASB Statement “termination No. 47.
Implemented GASB Statement No. 77, Tax Abatement Disclosures. The following changes have been made to the sample report. Included a note disclosure regarding the County’s tax abatements and tax abatements of entities in the Notes to Financial Statements. (Note 13) a New Accounting Pronouncement footnote in the Notes to Financial Statements. (Note 18) Included a note disclosure in the Notes to Financial Statements regarding a prospective accounting change for GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions. (Note 19) findings included in Part II and Part III of the Schedule of Findings and Questioned Costs were reviewed to more clearly identify the elements of a finding as required by Government Auditing Standards, Chapter 4.10-.14 and Title 2, U.S. Code of Federal Regulations, Part 200.516, Uniform Administrative Requirements, Costs Principles and Audit Requirements for Federal Awards (Uniform Guidance). Additional Notes Also attached are a sample Corrective Action Plan for Audit Findings (See Sample A) and a sample Summary Schedule of Prior Audit Findings (See Sample B). These are provided for illustrative purposes only and are not intended to match the findings shown in the sample entity nor are they required to be filed with this Office. If the County has deposits in credit unions at June 30, 2017, Note 2 should be modified to indicate whether the deposits were covered by federal depository insurance, collateralized with securities or letters of credit held by the County or the County’s agent in the County’s name or by the State Sinking Fund in accordance with Chapter 12C of the Code of Iowa. If the County operates a sanitary landfill, disclosure of the closure and postclosure care should be included in the Notes to Financial Statements. In addition, findings pertaining to compliance with solid waste fees used or retained and financial assurance should be included in Part IV of the Schedule of Findings and Questioned Costs. See Sample Accrual County Landfill Association or Sample Cash Landfill Commission for examples of the required disclosures and findings. Following is an example footnote for an retirement or other benefit plan or policy which meets the definition of a “termination benefit” as defined by GASB Statement No. 47.
17CountySampleReport_8541F395F18F0.docx