[Note: The above is an embedded Excel Spreadsheet. Double-click to edit. Do not enter $ signs. Enter percentages as decimals, e.g., .0525 = 5.25%.] [Insert Principal Outstanding December 31, 20CY from the Amortization Schedule or Bank Schedule.] [List other indebtedness, such as leases, if material.] [Include a description of the debt, including amount, term, maturity date, interest rate, purpose, collateral, and any other significant information, such as defaults, etc.] The Cemetery is obligated for a note payable to a bank. The note is payable [Example note disclosure] over a period of five years at $500 per month plus interest charged at 75 percent of the bank’s prime variable rate, adjusted monthly. The rate disclosed above was the rate effective at December 31, 20CY. The property collateralizes the note. Substantially all the Cemetery’s real and personal property and receipts collateralize the Mortgage Revenue Bonds. [Briefly describe other material debt issues, too. Describe collateral pledged (e.g., pledged receipts, a mortgage on the property financed, taxing authority (that is, general obligations), uncollateralized) and other significant matters, including defaults, covenant violations, etc. Describe any defeased debt and the amounts outstanding, but explain the defeased amounts are NOT included in the amortization table below. Amortization of the above debt, including interest, is scheduled as follows: [Note: The above is an embedded Excel Spreadsheet. Double-click to edit. Do not enter $ signs.] [Insert amounts by debt type from amortization schedules. Present amounts due after five years in 5-year increments.] Should your Cemetery have any additional debt including leases for buildings, vehicles, and/or equipment, you should insert the appropriate description and make any other necessary footnote and financial statement modifications. The Generic Special Purpose Government Notes shell provides examples in Note 11 that can be used and you can cut and paste into this example. Note 12 Construction and Contractual Commitments – Identify any potentially significant outstanding construction or other contractual commitments. Note 13 Contingent Liabilities –
[Note: The above is an embedded Excel Spreadsheet. Double-click to edit. Do not enter $ signs. Enter percentages as decimals, e.g., .0525 = 5.25%.] [Insert Principal Outstanding December 31, 20CY from the Amortization Schedule or Bank Schedule.] [List other indebtedness, such as leases, if material.] [Include a description of the debt, including amount, term, maturity date, interest rate, purpose, collateral, and any other significant information, such as defaults, etc.] [Example note disclosure] The Cemetery is obligated for a note payable to a bank. The note is payable over a period of five years at $500 per month plus interest charged at 75 percent of the bank’s prime variable rate, adjusted monthly. The rate disclosed above was the rate effective at December 31, 20CY. The property collateralizes the note. Substantially all the Cemetery’s real and personal property and receipts collateralize the Mortgage Revenue Bonds. [Briefly describe other material debt issues, too. Describe collateral pledged (e.g., pledged receipts, a mortgage on the property financed, taxing authority (that is, general obligations), uncollateralized) and other significant matters, including defaults, covenant violations, etc. Describe any defeased debt and the amounts outstanding, but explain the defeased amounts are NOT included in the amortization table below. Amortization of the above debt, including interest, is scheduled as follows: [Note: The above is an embedded Excel Spreadsheet. Double-click to edit. Do not enter $ signs.] [Insert amounts by debt type from amortization schedules. Present amounts due after five years in 5-year increments.] Should your Cemetery have any additional debt including leases for buildings, vehicles, and/or equipment, you should insert the appropriate description and make any other necessary footnote and financial statement modifications. The Generic Special Purpose Government Notes shell provides examples in Note 11 that can be used and you can cut and paste into this example. Note 12 – Construction and Contractual Commitments Identify any potentially significant outstanding construction or other contractual commitments. Note 13 – Contingent Liabilities
AOS_Regulatory_Basis_Cemetery_Footnote_Shell_Dec2016.docx