GASB #34 Model: Fund Financial Statements

Transcription

1 Topic 11 Governmental Accounting Fund Structure Fund Accounting : Measurement Focus Fund Accounting : Basis of Accounting Governmental Fund Accounting - JE GASB #34 Model: Government-Wide FS GASB #34 Model: Fund Financial Statements Sample of Financial Statements Financial Reporting Entity Interfund Activity SAMPLE-1

2 SUMMARY NOTES 1. FUND STRUCTURE A fund is a sum of money or other resource segregated for the purpose of carrying on a specific activity or attaining certain objectives in accordance with specific regulations, restrictions or limitations and constituting an independent fiscal and accounting entity. Each fund is a self-balancing set of accounts. < ファンドの定義 > ファンドとは 法規制等に従って特定の活動を遂行するもしくは特定の目的を達成する ために設定された 単独で貸借 (Dr / Cr) がバランスする他から独立した会計単位 Fund accounting enables governmental organizations to easily monitor and report compliance with spending purposes (restrictions), spending limits (budget and financial control), and other fiscal accountability objective. < ファンド会計の目的 > 政府は ファンド会計を用いることにより 使途制限等 (restriction) がある財源がそ の使途に使用されているかどうか? や 予算 (budget) に従って財源が調達され使用されているかどうか? な どを個別に管理 報告することができる Fund Categories and Fund Types Eleven fund types (GRaSPP SE PAPI) are classified in the following three generic categories: Governmental Funds 公共サービスの提供などの 政府型活動 (governmental-type activities) を会計処理するカテゴリー General Fund. accounts for the ordinary operations of a governmental unit that are financed from taxes and other general revenues. All transactions not accounted for in some other funds are accounted for in this fund (i.e., operating catch-all fund). 政府の一般的な活動 (ordinary operations) の会計処理を行うファンド ( 日本でいう一般会計に相当 ) 他のファンドで会計処理されないすべてのものが会計処理される General Fund では幅広い公共サービスに対する支出が会計処理されることになるが 使途制限のない 財源 で賄われているという点が共通している Revenue Sources. Taxes( 税金 ) Fines & penalties( 罰則金 ) Intergovernmental( 補助金等 ) (grant or shared revenue) Charge for service( サービス料金 ) Other revenues( 投資収益等 ) Expenditures Types. Character Current operating expenditures Capital outlay expenditures Function / Program General government( 一般行政 ) Education( 義務教育 ) Public safety( 公共の安全 ) Health and welfare( 健康と福祉 ) Special Revenue Fund. account for revenues from specific taxes or other earmarked sources that are designated to finance particular activities of government. 法令等により特定の活動に使途が制限された特別歳入 (special revenue) の会計処理を行うファンド Revenue Sources. Special taxes (e.g., gasoline taxes) Specific fees (e.g., admission fees) Restricted grants = Operating grants Restricted donations Expenditures Types. Character Current operating expenditures (e.g.maintain street ) SAMPLE-2

3 MC1 Restricted Grants( 使途制限などがある補助金 ) Type Operating grants Capital grants Pass thru grants FUND Special Revenue Fund Capital Project Fund Agency Fund Restricted Donations( 使途制限などがある寄付金 ) FUND Use Spending Special Revenue Fund Public( 政府の活動 ) Principal and earnings (Expendable) Permanent Fund Earnings only (Nonexpendable) Private Purpose Trust Fund Private( 特定の個人 ) Principal and / or earnings Debt Service Fund. account for the accumulation of resources and the payment of interest and principal on all "general obligation debt" (used by GRaSPP only, not by proprietary or fiduciary funds). 一般長期債務 (general obligation debt = Governmental Funds カテゴリーの活動に関連する長期債務 ) の 返済資金の蓄積と元本 利息の返済の会計処理を行うファンド Debt Service Fund には Unreserved Fund Balance は存在しない Fund Balance はすべて Fund Balance Reserved for Debt Service となる Revenue & Other Financing Sources. Interfund transfers Allocated portion of property taxes Investment earnings Expenditures Types. Character Debt service expenditures (principal & interest ) Capital Projects Fund. account for resources used for the acquisition or construction of major capital assets (used by GRaSPP only, not by proprietary or fiduciary funds). 大規模な資本的施設 (major capital assets) の取得 建設のための財源を会計処理するファンド 地方政府の場合 地方債を発行してその建設資金を調達することが多い プレミアム 部分については 直ちに Debt Service Fund に移転され 地方債などの償還に充てられる 建設資金を一時的に投資したことから生じる 運用益 についても同様である (e.g.) Convention center construction Construction of special assessment projects Revenue & Other Financing Sources. Bond proceeds Restricted grants = Capital grants Interfund transfers Taxes specifically identified for construction Investment earnings Expenditures Types. Character Capital outlays expenditures (e.g. convention center construction) SAMPLE-3

4 4. GOVERNMENTAL FUND ACCOUNTING JOURNAL ENTRIES Journal entries typically focus on accounting for recording the Budget, Activity, Encumbrance. NOTE : 仕訳の番号は 本科生 科目パック生使用の 直前対策まとめ に合わせている BUDGET To record the budget into the accounting records, the following entry is used. Any balancing amounts are posted to budgetary fund balance (which is the budgetary equity account). Budgetary fund balance can also be a debit. < 仕訳 1> 期首 予算勘定は DR/CR が通常の会計と逆! DR. Estimated Revenues control DR. Estimated Other Financing Sources control DR. Budgetary Fund Balance (negative / deficit) CR. Appropriations control CR. Estimated Other Financing Uses control CR. Budgetary Fund Balance (positive / surplus) MC4 Budgetary accounts are recorded at the beginning of the year and are closed at the end of the year. Budgetary accounts are only impacted when establishing (amending) or closing the budget. < 仕訳 B> 期末 : 期首に計上した予算仕訳の 逆仕訳 を切る DR. Appropriations control DR. Estimated Other Financing Uses control DR. Budgetary Fund Balance (positive / surplus) CR. Estimated Revenues control CR. Estimated Other Financing Sources control CR. Budgetary Fund Balance (negative / deficit) ACTIVITY Actual activities are recorded as they happen throughout the year. There are four classifications of revenues (GASB #33): a. Derived Tax Revenues ( 交換取引に課税して得た非交換収入 ) A tax imposed on an exchange transaction such as sales taxes, or income is earned and an income tax is assessed. b. Imposed Non-exchange Revenues( 賦課による非交換収入 ) Fines are viewed as imposed non-exchange revenues because there is no underlying transaction. Property taxes also belong in this category because ownership is being taxed, not a specific transaction. Receivables are recorded when property taxes are levied because there is an enforceable legal claim. < 仕訳 4> 財産税の賦課 ( 請求 ) 時 Journal entry to record accrual of Property Taxes levied (Revenue = When Billed) : DR. Property Tax Receivable Current CR. Allowance for Uncollectible Taxes Current CR. Revenue SAMPLE-4

5 Reconciliation of Fund Statements to Government-Wide Statements MC7&8 G A L S Statement of Revenues, Expenditures, Balance Sheet and Changes in Fund Balance GRaSPP- Fund Balance G GRaSPP-Net Change in Fund Balance +Assets - Fixed Assets 1 O -Other Financing Sources - Debt Proceeds 3 -Liabilities - LT Debt 2 E +Expenditures Capital Outlays 4 +Service (Internal) Fund Net Assets S +Service (Internal) Fund Net Income B A R E Basis of Accounting Accrued Revenues and Expenses B A R E Basis of Accounting Additional Accrued Revenues and Expenses 1:net of accumulated depreciation 2:net of principal payments 3:net of principal payments 4:net of depreciation expense Statement of Cash Flows The Statement of Cash Flows is only used for the proprietary funds and it is prepared in a similar manner as the commercial version, with the following differences: 企業会計の CF との 6 つの相違点 The direct method is required 直接法での作成が要求されている There are four categories (instead of the three) and the order of the categories is the following: i. operating activities, ii. Non-capital financing activities, iii. Capital and related financing activities and iv. Investing activities 4 つに区分されている Capital asset purchases are reported as capital and related "Capital and related financing activities" (not as investing activities). 固定資産の取得 売却は 企業会計では Investing activities の区分となるが Capital and related financing activities に分類される Interest expense/cash payments are either Non-capital financing or Capital and related financing activities (not as operating activities). 利息の支払いは 企業会計では Operating activities の区分となるが Noncapital financing activities もし くは Capital and related financing activities のいずれか に分類される Interest income/cash receipts are reported as "investing activities" (not as operating activities). 利息の受取りは 企業会計では Operating activities の区分となるが Investing activities に分類される A reconciliation of operating income (instead of net income) to net cash provided by operations is required. 企業会計のように Net income ではなく Operating income からスタートする SAMPLE-5

6 MULTIPLE CHOICE QUESTIONS 1. City of Trenton The City of Trenton received a $15,000,000 federal grant to finance the construction of a center for rehabilitation of drug addicts. The proceeds of this grant should be accounted for in the: 1. Special revenue funds. 2. General fund. 3. Capital projects funds. 4. Fiduciary funds. 2. Town of Farrell Property taxes for the Town of Farrell of $25,000,000 were assessed in October of 20X1 to fund budgeted operations for the fiscal year ended September 30, 20X2. Some $24,000,000 are collected from November 20X1 through March 20X2 with liens of $1,000,000 applied to properties with unpaid property tax bills in May 20X2. Properties subject to delinquent property taxes were auctioned for taxes of $800,000. At September 30, 20X2, government would record property tax revenue of: 1. $25,000, $24,800, $24,200, $24,000, City of Lawrence The City of Lawrence has a $20,000,000 bond issue outstanding with a stated rate of 6% issued at.855 to yield 7%. Interest is payable on April 1 and October 1. The City also had a master lease agreement with a balance of $200,000 yielding 6% that qualified for treatment as a capital lease to buy equipment used in general governmental operations. Monthly interest had not been paid at year-end. The bond indenture required the uses of formal debt service fund accounting. Lease payments were made through the general fund. At December 31, the governmental funds of the City of Lawrence would display accrued interest payable of: General Fund Debt Service Fund 1. $ 1,000 $ 300, $ 1,000 $ 350, $ 1,000 $ 0 4. $ 0 $ 0 SAMPLE-6

7 SIMULATION #2 GASB#34 SAMPLE-7

8 A B C Fund Balance 5,000,000 1 Capital assets used in governmental activities 2 Accumulated depreciation on capital assets used in governmental activities 3 Long term debt obligations issued to finance governmental projects 4 Internal Service Fund Net Assets 5 Proprietary Fund Net Assets 6 Fiduciary Fund Net Assets 7 Capital outlay expenditures 8 Debt service expenditures - principal 9 Debt service expenditures - interest 10 Proceeds from issuance of long-term debt 11 Net revenue from enterprise funds 12 Net revenue from internal service funds 13 Change in net assets for fiduciary funds 14 Depreciation on general governmental assets Net Assets, Governmental Activities Net change in Fund Balance 750, Capital assets used in governmental activities 102 Accumulated depreciation on capital assets used in governmental activities 103 Long term debt obligations issued to finance governmental projects 104 Internal Service Fund Net Assets 105 Proprietary Fund Net Assets 106 Fiduciary Fund Net Assets 107 Capital outlay expenditures 108 Debt service expenditures - principal 109 Debt service expenditures - interest 110 Proceeds from issuance of long-term debt 111 Net revenue from enterprise funds 112 Net revenue from internal service funds 113 Change in net assets for fiduciary funds 114 Depreciation on general governmental assets Change in Net Assets, Governmental Activities SAMPLE-8