Note X – Reconciliation of Government-Wide and Fund Financial Statements
A. Explanation of Certain Differences Between the Governmental Funds Balance Sheet and the Government-Wide Statement of Net Position
The governmental funds’ balance sheet includes reconciliation between fund balance – total governmental funds and net position – governmental activities as reported in the government-wide statement of net position. [1]
B. Explanation of Certain Differences Between the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances and the Government-Wide Statement of Activities
The governmental funds’ statement of revenues, expenditures, and changes in fund balances includes reconciliation between net changes in fund balances – total governmental funds and changes in net position of governmental activities as reported in the government-wide statement of activities. [2]
Instructions to preparer:
This note is required only if the reconciliation on the face of financial statements does not provide sufficient details about reconciling items (Governmental Accounting Standards Board (GASB) Statement 34, paragraph 77).
[1] List all the elements from the reconciliation provided in/or after the city/county/district governmental funds’ balance sheet and provide details for each reconciling item.
[2] List all the elements from the reconciliation provided in/after the city/county/district governmental funds’ statement of revenues, expenditures, and changes in fund balance and provide details for each reconciling item.