Note X – Changes in Long-Term Liabilities

Note X – Changes in Long-Term Liabilities

Note X – Changes in Long-Term Liabilities

A. During the year ended December 31, 20__, the following changes occurred in long-term liabilities: [1]

Also see Footnote 2 and Footnote 3

Internal service funds predominantly serve the governmental funds. Accordingly, long-term liabilities for them are included as part of the above totals for governmental activities. At year end $__________ of internal service funds compensated absences are included in the above amounts. Also, for the governmental activities, claims and judgments and compensated absences are generally liquidated by the general fund. [4]

B. Discretely Presented Component Unit(s) [5]

Instructions to preparer:

[1] Additions and deductions must be reported separately, rather than netted.

[2] GASB Statement 88, Certain Disclosures Related to Debt, including Direct Borrowings and Direct Placements requires a separate disclosure of any direct borrowings and/or direct placements of debt from other forms of debt.

[3] Include judgments, self-insurance liabilities, etc.

[4] Disclose which governmental funds typically have been used in prior years to liquidate long-term liabilities other than debt.

[5] The decision to disclose should be based on the individual component unit's significance to the total of all discretely presented component units and that component unit's relationship with the primary government. It is a matter of professional judgement.