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_____________________________________ October 19, 2012

_____________________________________ 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

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  1. _____________________________________ October 19, 2012 http://www.apa.virginia.gov

  2. 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

  3. 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

  4. Background on Initiative • Presentation to Governor’s Task Force http://www.apa.virginia.gov

  5. 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

  6. Survey Results http://www.apa.virginia.gov

  7. Survey Results http://www.apa.virginia.gov

  8. Survey Results http://www.apa.virginia.gov

  9. Survey Results http://www.apa.virginia.gov

  10. Survey Results http://www.apa.virginia.gov

  11. http://www.apa.virginia.gov

  12. 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

  13. Survey Results http://www.apa.virginia.gov

  14. 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

  15. Discussion • Form 100 Data – difficulties and benefits • Use of Automation • Other Best Practices http://www.apa.virginia.gov

  16. Next Meeting http://www.apa.virginia.gov

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