![]() For example, interest is operating revenue if the principal activity of the fund is to provide loans to generate income. Paragraph 100, further requires proprietary to distinguish between operating and nonoperating revenues and expenses.ġ.5.60 The objective of the distinction of nonoperating and operating is to display the extent to which operating expenses are covered by revenues generated by principal ongoing operations ( 2015-1 Comprehensive Implementation Guide, Question 7.73.4 ). The fact that the revenue supports the operations does not impact its classification which again refers to the revenue origin.ġ.5.50 GASB Statement 34, paragraph 100 requires proprietary fund revenues to be reported by major source (net of discounts and allowances). ġ.5.40 The operating nature of revenue is derived from the source of the revenue NOT its purpose. Since the State Auditor’s Office is required to provide comparative statistics for all local governments, the Office made some decisions which are based on a reasonable extension of existing standards that do not have direct citations in GAAP literature.ġ.5.30 GASB Statement 34, Basic Financial Statements – and Management Discussion and Analysis – for State and Local Governments, paragraph 436, states that there are two criteria to consider when defining revenues and expenses as operating: (1) does the revenue/expense result from the fund’s principal purpose, and (2) is the revenue/expense allowed to be considered operating on the statement of cash flows. Non-Operating matrix here.ġ.5.20 Because operating revenues/expenses are not authoritatively defined in the accounting literature, there is no assurance that the usage of these term is standardized. The governments may use the matrix as a guide for the preparation of their statement of revenues, expenses and changes in net position (operating statements).ĭownload the Operating vs. BARS codes that can be either operating or non-operating will need to be allocated in the annual filing system. Non-operating” identifies the classifications as they are reflected in the annual filing system. ![]() Several BARS codes have been defined as operating or non-operating, however some BARS codes can be either operating or nonoperating. Open Required Supplementary Information (RSI) sub menuġ.5 Determining Operating/Nonoperating Revenues/Expenses in Proprietary Fundsġ.5.10 The Proprietary Fund Statement of Revenues, Expenses, and Changes in Net Position requires governments to distinguish operating revenues and expenses from non-operating revenues and expenses. Note X – Violation of Finance-Related Legal and Contractual Provisions.Note X – Unique and Unusual Transactions.Note X − Third Party Contractual Agreements.Note X – Service Concession Arrangements.Note X – Risk Pools – Risk Financing Limits.Note X – Risk Pools – Members’ Supplemental Assessments and Credits.Note X – Risk Pools – Excess Insurance Contracts/Reinsurance.Note X – Risk Management (for participating member of pool).Note X – Restricted Component of Net Position.Note X – Reconciliation of Government-Wide and Fund Financial Statements. ![]() Note X – Receivable and Payable Balances.Note X – Pollution Remediation Obligations.Note X – Pledges and Sales of Future Revenues.Note X – Pensions – State Sponsored (DRS) Plans.Note X – Pensions - Defined Benefit Plans - Qualifying Trust.Note X – Pensions - Defined Benefit Plans – No Qualifying Trust.Note X – Pension and/or OPEB Plans - Nongovernmental Plans.Note X – Pension and/or OPEB Plans - Defined Contribution.Note X – Paid Family Medical Leave Act Self-Insurance.Note X – OPEB Defined Benefit Plan - Qualifying Trust.Note X – OPEB Defined Benefit Plan - No Qualifying Trust.Note X – Interfund Balances and Transfers.Note X – Extraordinary and/or Special Items.Note X – External Investment Pool (Counties Only).Note X – Construction and Other Significant Commitments.Note X – Closure and Postclosure Care Cost.Note X – Changes in Long-Term Liabilities.Note X – Asset Retirement Obligations (ARO).Note X – Accounting and Reporting Changes.Note 1 – Summary of Significant Accounting Policies.Coming in Fiscal Year 2024 (GAAP and Cash).Coming in Fiscal Year 2023 (GAAP and Cash).Use of Deadly Force Investigation Reports.
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