Summary of the Comprehensive A
Summary of the Comprehensive Annual Financial Report for the State of TennesseeThe Comprehensive Annual Financial Report (CAFR) for the State of Tennessee for the Year ended June 30, 2003 is GASB 34 compliant in that they provide Management Discussion and Analysis, Government-wide financial statements, Fund financial statements, and Required Supplementary Information.The Government-wide financial statements include the Statement of Net Assets and the Statement of Activities. The Fund Financial Statements include:1. Balance Sheet - Governmental Funds2. Statement of Revenues, Expenditures, and Changes in Fund Balance - Governmental Funds3. Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balance - Governmental Funds to the Government-wide Statement of Activities4. Statement of Net Assets - Proprietary Funds5. Statement of Revenues, Expenses, and Changes in Fund Net Assets - Proprietary Funds6. Statement of Cash Flows - Proprietary Funds7. Statement of Fiduciary Net Assets8. Statement of Changes in Fiduciary Net AssetsThe Required Supplementary Information includes:1. Schedule of Revenues, Expenditures, and Changes in Fund Balances -
The State's Long Term Debt increased by $. The Highway Fund originally budgeted $2,089,297,000, amended this amount to $3,937,466,000 and actually spent $1,869,481,000. Because of this decision, the State capitalized $675. The State reports three major Governmental Funds, General Fund, Education Fund, and Highway Fund. As well as schedules detailing outstanding debt of the State. According to Managements Discussion and Analysis, the majority of this increase is due to the State's decision to utilize the Modified Approach to report their infrastructure capital assets. The RSI also reconciles the budgetary inflows and outflows to GAAP for these funds, as well as reporting on the capital assets that use the Modified Approach. These are the Sewer Treatment Loan Fund and the Employment Security Fund. 7 million is available for spending at managements discretion. Of the combined fund balance approximately $202. The General Fund had an increase in Fund Balance of $57,381,000. Infrastructure Assets Reported Using the Modified Approach. 9 million during the fiscal year to $1.
Common topics in this essay:
Net Assets,
Governmental Funds,
Highway Fund,
Tennessee Notes,
Trust Fund,
Modified Approach,
net assets,
Fund Balance,
Education Fund,
Statement Activities,
Proprietary Funds,
governmental funds,
fund balance,
financial statements,
trust fund,
changes fund,
expenditures changes fund,
supplementary information,
expenditures changes,
statement activities,
statement revenues,
fund net assets,
revenues expenditures changes,
fund balance governmental,
changes fund balance,
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