CCMA White Papers

19 05, 2010

Accounting for Prop 1A State Borrowing

2010-11-22T18:41:04+00:00 May 19th, 2010|

CCMA, the California Committee on Municipal Accounting, has issued a white paper to provide accounting and financial reporting guidance to local governments affected by the State of California's borrowing of local property taxes under the emergency suspension of Proposition 1A. The paper addresses accounting issues both for agencies that participated in the securitization program as [...]

28 12, 2009

Example Disclosures for California Local Government

2010-07-30T17:32:47+00:00 December 28th, 2009|

In March 2003, GASB issued GASB Statement No. 40, Deposit and Investment Risk Disclosures. GASB No. 40 is effective for periods beginning after June 15, 2004 (i.e., years ending June 30, 2005 or later). GASB No. 40 adds to and changes certain of the financial statement disclosure requirements for cash and investments of local governments. [...]

28 12, 2009

CCMA White Paper: Accounting and Financial Reporting

2010-07-30T17:32:39+00:00 December 28th, 2009|

The Governmental Accounting Standards Boards (GASB) issued Statement 45 (June 2004) (OPEB) to establish measurement, recognition, and display standards for postemployment benefits other than pensions (OPEB) expenditures/expense and related liabilities, assets, note disclosures, and, if applicable, required supplementary information in the financial reports of State and local governmental employers. Reporting requirements for OPEB trust funds [...]

28 12, 2009

Accounting and Financial Reporting for Loans between California Cities and Related Redevelopment Agencies

2010-07-30T17:32:31+00:00 December 28th, 2009|

One of the most significant transactions occurring between California cities and their redevelopment agencies is loans (or advances) from the City to the redevelopment agency. Millions of dollars in loans are made and repaid each year subject to a variety of loan repayment provisions. As a result, questions have arisen regarding the accounting and financial [...]

28 12, 2009

Accounting for Local Revenue Realignments

2010-07-30T17:32:24+00:00 December 28th, 2009|

The California State Association of County Auditors has issued " "SB 1096 Guidelines (Uniform Guidelines for the Implementation of Senate Bill No. 1096 as Amended by AB 2115 Concerning Funding Provisions Relative to Counties, Cities, Special Districts, and Redevelopment Agencies in Connection with the State of California Budget for fiscal Year 2004-2005 and Beyond)." "

28 12, 2009

CCMA WHITE PAPER: Agreed-upon Procedures

2010-07-30T17:31:24+00:00 December 28th, 2009|

In 1991, the League of California Cities presented in its publication entitled Article XIII-B Appropriations Limitation Uniform Guidelines an example of the wording recommended by the League to be used to report the performance of certain procedures applied to the computation of the statutory appropriation limitation. In 1997, the form of reporting for such engagements [...]

28 12, 2009

CCMA WHITE PAPER: Accounting for Pensions by State and Local Governmental Employers

2009-12-28T00:00:00+00:00 December 28th, 2009|

  The Governmental Accounting Standards Board (GASB) issued Statement 27 (November 1994) to establish measurement, recognition, and display standards for pension expenditures/expense and related liabilities, assets, note disclosures, and, if applicable, required supplementary information in the financial reports of state and local governmental employers. Reporting requirements for pension trust funds of employers are included in [...]

28 12, 2009

CCMA WHITE PAPER: Agreed-upon Procedures Applied to Investment Portfolios of Local Governments

2010-07-30T17:33:12+00:00 December 28th, 2009|

On occasion, a local government may request that its auditor perform specific additional procedures relating to its investment portfolio. In 1997, a CCMA white paper was published to provide guidance on the recommended form of reporting for such engagements. In 2001, the Auditing Standards Board withdrew the auditing standard that addressed engagements to perform agreed-upon [...]

28 12, 2009

Application of Revenue Recognition Criteria Set Forth in GASB no. 33

2010-07-30T17:33:05+00:00 December 28th, 2009|

The Governmental Accounting Standards Board (GASB) issued Statement No. 33 in December 1998, which addresses reporting the results of nonexchange transactions by state and local governments. In a nonexchange transaction, a government gives (or receives) value without directly receiving (or giving) equal value in return.