Note X – Budget Compliance
The (city/county/districts) [1] adopts (annual/biennial) appropriated budgets for _____ [2] funds. These budgets are appropriated at the fund level (except the general (current expense) fund, where budget is adopted at the department level.[3] he budget constitutes the legal authority for expenditures at that level. (Annual/biennial) appropriations for these funds lapse at the fiscal year end.
(Annual/biennial) appropriated budgets are adopted on the same basis of accounting as used for financial reporting.
The appropriated and actual expenditures for the legally adopted budgets were as follow: [4]
|
Fund/Department |
Final Appropriated Amounts |
Actual Expenditures |
Variance |
|
General Fund: |
|||
|
……. Department |
$ |
$ |
$ |
|
……. Department |
$ |
$ |
$ |
|
……. Department |
$ |
$ |
$ |
|
……. Department |
$ |
$ |
$ |
|
……. Department |
$ |
$ |
$ |
|
……. Department |
$ |
$ |
$ |
|
……. Department |
$ |
$ |
$ |
|
……. Department |
$ |
$ |
$ |
|
Total General Fund |
$ |
$ |
$ |
|
….. Fund |
$ |
$ |
$ |
|
….. Fund |
$ |
$ |
$ |
|
….. Fund |
$ |
$ |
$ |
[5] The (city/county/district) adopts budgets for (list managerial funds that have separate legal budgets), these funds are not reported separately on the financial statements, but in the (list the fund the managerial funds are reported in).
Budgeted amounts are authorized to be transferred between (departments within any fund/object classes within departments); however, any revisions that alter the total expenditures of a fund, or that affect the number of authorized employee positions, salary ranges, hours, or other conditions of employment must be approved by the (city/county/district’s) legislative body. [6]
Instructions to preparer:
[1] The note is applicable only if the city/county/district is legally required to appropriate its expenditures. The data in the matrix should match the amounts in the city/county/district’s budget document (i.e., ordinance, resolution, etc.). If the city/county/district adopts budgets for the managerial funds that are combined for the financial presentation, the note should disclose the legally adopted budgets information.
Back to Reference 1
[2] List the funds for which the city/county/district adopts appropriated budgets.
Back to Reference 2
[3] If the city/county/district adopts budgets on a level other than fund, list the funds and describe the level.
Back to Reference 3
[4] Present general fund budget on the department level only if the city/county/district legally approves the budget on that level.
If the city/county/district adopts a biennial budget:
-
The first year:
-
Final appropriated amount will be the total biennial appropriated budget
-
Actual expenditures will be the expenditures for the first year
-
-
The second year:
-
Final appropriated amount will be the total biennial appropriated budget
-
Actual expenditures will be the total expenditures for both years
-
Note: Biennial budgets should be reported at the same level of detail as the adopted budget (i.e. if the government adopts their budget presenting two individual budget years or as one single biennial budget, the budget to actual comparison is presented the same).
Also, if any funds besides the general fund adopts a budget that is legally approved on a level lower than fund (e.g., activities, etc.) the government needs to present the budgeted information on that level.
Back to Reference 4
[5] If the city/county/district legally adopts budgets for managerial funds then they should be reported separately in the note and disclosed below the table.
Back to Reference 5
[6] Provide a description, including affected fund(s) and amount(s), of any material budget transfers or amendments during the fiscal year. If there are significant variances, provide an explanation