_____________________________________ october 19, 2012
DESCRIPTION
_____________________________________ October 19, 2012. Agenda. Introduction Background on Initiative Governor’s Mandate Task Force Presentation to Task Force Comparative Report Survey Results Transmittal Data Details Form 100 Data (Difficulties and Benefits - PowerPoint PPT PresentationTRANSCRIPT
Comparative Report Advisory Group
http://www.apa.virginia.gov
_____________________________________October 19, 2012
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Comparative Report Advisory Group
Agenda
• Introduction• Background on Initiative
– Governor’s Mandate Task Force– Presentation to Task Force
• Comparative Report Survey Results• Transmittal Data Details
– Form 100 Data (Difficulties and Benefits– Use of Automation and Other Best Practices
• Next Meeting Date Page 2http://www.apa.virginia.gov
Comparative Report Advisory Group
Objectives
To promote continuing dialogue among preparers and users of the Comparative Report of Local Government Revenues and Expenditures to determine the following: • Possible preparation process improvements by sharing best practices for
accumulating the transmittal data by both the APA and the localities.• Whether the current data collected and presented is beneficial to users of
the report including exploring potential eliminations and additions of data elements.
• If some elements of the Comparative Report data are available to users from other sources.
To provide an opportunity to discuss ways the data in the report is used and how to best promote to other potential users the availability of the data and how it may be beneficial.
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Comparative Report Advisory Group
• Background on Initiative• Presentation to Governor’s Task Force
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Comparative Report Advisory Group
Comparative Report Survey
• Sent E-mail Request to 700 – Localities, School Boards, State Agencies,
Local Auditors, Other Users• 39 Responses
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Comparative Report Advisory Group
Survey Results
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Comparative Report Advisory Group
Survey Results
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Comparative Report Advisory Group
Survey Results
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Comparative Report Advisory Group
Survey Results
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Comparative Report Advisory Group
Survey Results
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Comparative Report Advisory Group
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Comparative Report Advisory Group
Survey Results
Are some of the current transmittal data elements available from other sources? • Locality CAFR and basic financial statements
already prepared in accordance with GAAP• Other annual reports submitted to the General
Assembly for public School systems• Superintendent’s Annual School Report
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Comparative Report Advisory Group
Survey Results
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Comparative Report Advisory Group
Survey Results
Most Difficult Part of the Forms to Complete• Form 100 (object codes; different category than local
accounts; data elements not linked to accts)• Balancing/Reconciling to CAFR• Forms 300 & 400 when no separate Capital Projects
or Debt Service Funds in Financial Report• Intergovermental Revenue – detail by function when
summarized in CAFR
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Comparative Report Advisory Group
• Discussion– Form 100 Data – difficulties and benefits– Use of Automation– Other Best Practices
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Comparative Report Advisory Group
Next Meeting
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