Note X – Construction and Other Significant Commitments [1]
A. Construction Commitments
The (city/county/district) has active construction projects as of December 31, 20__. The projects include:
At year-end the (city/county/district’s) commitments with contractors are as follows: [2]
|
Project |
Spent to Date |
Remaining Commitment |
|
$ |
$ |
|
|
$ |
$ |
(Of the committed balance of $__________ the (city/county/district) will be required to raise $__________ in future financing.)
B. Other Commitments [3]
Instructions to preparer:
[1] Commitments are existing arrangements to enter into future purchases at specified prices and sometimes at specified quantities.
[2] Describe the financing arrangements for each project.
[3] Disclose significant encumbrances by major funds and nonmajor funds in aggregate. The city/county/district may disclose further breakdown of encumbrances into various fund balance classifications (i.e., restricted, committed, etc.).
Disclose any other commitments like purchase (e.g., power, etc.) orders, etc.