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_____________________________________ 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

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_____________________________________

October 19, 2012

http://www.apa.virginia.gov


Agenda
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

http://www.apa.virginia.gov


Objectives
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.

http://www.apa.virginia.gov


http://www.apa.virginia.gov


Comparative report survey
Comparative Report Survey

  • Sent E-mail Request to 700

    • Localities, School Boards, State Agencies, Local Auditors, Other Users

  • 39 Responses

http://www.apa.virginia.gov


Survey results
Survey Results

http://www.apa.virginia.gov


Survey results1
Survey Results

http://www.apa.virginia.gov


Survey results2
Survey Results

http://www.apa.virginia.gov


Survey results3
Survey Results

http://www.apa.virginia.gov


Survey results4
Survey Results

http://www.apa.virginia.gov



Survey results5
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

http://www.apa.virginia.gov


Survey results6
Survey Results

http://www.apa.virginia.gov


Survey results7
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

http://www.apa.virginia.gov


  • Discussion

    • Form 100 Data – difficulties and benefits

    • Use of Automation

    • Other Best Practices

http://www.apa.virginia.gov


Next Meeting

http://www.apa.virginia.gov


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