State
of SC – Office of the Comptroller General
Advisory Committee Meeting
November 7, 2000
Welcome and Introduction
Progress of OCG Efforts
October
Training Sessions
- Feedback
from Advisory Committee Members
- Suggestions
for Upcoming Training
Discussion of Emerging Issues at the GASB
Request for Future Topics
Other Questions
* We would encourage each agency to briefly discuss with the group where you believe your Agency’s most significant issues might be with GASB 34 implementation (i.e. capital assets – title issues, ability to capture depreciation, revenue recognition, systems changes, etc)
Progress of OCG Efforts
Review/conceptual design of STARS changes
In process (early stages) with Series Z modifications
Selection of report writer software to assist with financial statement preparation process
Prepared summary reporting form for State agencies
Training –segment 1 – overall awareness/education completed October 17 and 25 approximately 375 state agency accountants attended
Initial planning for future training sessions
October Training Sessions
Feedback from advisory committee members (effectiveness of training efforts)
Suggestions for upcoming training sessions (format and content)
Discussion of Emerging Issues at the GASB
Program revenue issues
Segment reporting
Internal service fund reporting
General purpose external financial reporting
Issuance of a guide to state financial statements
Other issues
Request for Future Topics
Capital assets
Infrastructure
Grants – revenue recognition/classification
Others???