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NYS Comptroller

THOMAS P. DiNAPOLI

Local Government and School Accountability

Previous Accounting Releases (Advisories and Bulletins)

Examples from GASB Statement 34

Examples from GASB Statement 34 included in this bulletin, copyright by the Governmental Accounting Standards Board, 401 Merritt 7, Norwalk, CT 06856 are reprinted by permission.

Sample City
Statement of Net Assets
December 31, 2002

                     Primary Government                    

Governmental       Activities     Business-type
   Activities     
     Total        Component
      Units      
ASSETS
Cash and cash equivalents $    13,597,899 $     10,279,143 $     23,877,042 $       303,935
Investments 27,365,221 ------ 27,365,221 7,428,952
Receivables (net) 12,833,132 3,609,615 16,442,747 4,042,290
Internal balances 175,000 (175,000) ------ ------
Inventories 322,149 126,674 448,823 83,697
Capital assets, net      170,022,760     151,388,751     321,411,511     37,744,786
          Total assets     224,316,161     165,229,183     389,545,344     49,603,660
LIABILITIES
Accounts payable 6,783,310 751,430 7,534,740 1,803,332
Deferred revenue 1,435,599 ------ 1,435,599 38,911
Noncurrent liabilities:
      Due within one year 9,236,000 4,426,286 13,662,286 1,426,639
      Due in more than one year      83,302,378       74,482,273      157,784,651     27,106,151
           Total liabilities    100,757,287       79,659,989      180,417,276     30,375,033
NET ASSETS
Invested in capital assets, net of related debt 103,711,386 73,088,574 176,799,960 15,906,392
Restricted for:
       Capital projects 11,705,864 ------ 11,705,864 492,445
        Debt service 3,020,708 1,451,996 4,472,704 -------
        Community development projects 4,811,043 ------ 4,811,043 -------
        Other purposes 3,214,302 ------ 3,214,302 -------
Unrestricted (deficit)     (2,904,429)       11,028,624        8,124,195      2,829,790
Total net assets 123,558,874 $     85,569,194 $    209,128,068 $   19,228,627