Note X – Unique and Unusual Transactions

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Note X – Unique and Unusual Transactions

A template for this note is not available. See “Instructions to preparer:” for various disclosures that may be required.

Instructions to preparer:

Intergovernmental Assistance Programs

Current authoritative pronouncements do not require disclosure of specifics of intergovernmental assistance programs, but if a participation in such programs is considered a material part of the city/county/district operation, note disclosure is suggested.

In the note provide:

  • description of a program,

  • amounts of grants, entitlements or shared revenues,

  • description of program requirements and provisions (i.e., cost sharing or matching requirements, etc.).

Other

Please refer to Governmental Accounting Standards Board (GASB) Codification of Governmental Accounting and Financial Reporting Standards (Cod.) Section (Sec.) 2300 "Notes to Financial Statements" for disclosure requirements for government-wide and proprietary funds financial statements pertaining to:

  • Construction-type contracts by governments engaged in the contracting operations.

  • Debt that is extinguished through a troubled debt restructuring.

  • Foreign currency transactions.

  • Receivables and payables that represent contractual rights to receive money or contractual obligations to pay money on fixed or determinable dates (notes), whether or not there is a stated provision for interest.

  • Nonmonetary transactions.

  • Research and development arrangements.

  • Broadcasters and cable television systems.

  • Insurance entities other than public entity risk pools.

  • Lending activities.

  • Mortgage banking activities.

Please refer to GASB Cod. Sec. 2300 or additional disclosure requirements for business-type activities financial statements pertaining to: