Page 434 - Microsoft Word - FY 2020 Adopted Budget Document

Financial/Economic Development

Goal 1: Continue Responsible Fiduciary Emphasis for the Organization and Council
Objective 1: Comply with all Financial Regulations and Policies
Project Performance Measure(s) City Service Team (Department)
Core Implement Applicable GASB  GFOA Certificate of Excellence Finance (Accounting)
FED Statements for FY 2019  CAFR with clean opinion
1.1.3
Summary:
The Governmental Accounting Standards Board Milestone Estimated Actual
(GASB) has issued multiple GASB statements that Completion Completion
must be implemented in FY 2019 and subsequent Read/analyze GASB 12/31/2018 12/31/2018
years. The Finance department will review and Statements
analyze each statement and identify and implement Identify reporting, disclosure, 8/31/2019 Complete
reporting requirements timely and accurately. The and RSI requirements
GASB statements include: Draft changes need for CAFR 9/30/2019 Complete
External auditor review of 9/30/2019 Complete
 FY 2019 proposed CAFR updates
GASB 83 Certain Asset Retirement
Obligations
GASB 88 Certain Disclosures Related to

Debt, Including Direct Borrowings & Direct

Placements
 FY 2020
GASB 84 Fiduciary Activities
 FY 2021
GASB 87 Leases

Update:
The project has been completed.

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