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Reporting Model-RSI
•Budgetary comparisons for general fund
–Original and final budget
–Actual on budgetary basis
•Infrastructure-modified approach
–Three most recent condition assessments
–Estimated amount to maintain and preserve versus actual amount for last five years
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ØPrimarily impacts the OCG and State agencies who prepare stand-alone financial statements
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Paragraph 130 requires a budgetary comparison schedule to be presented for the general fund and each major special revenue fund that has a legally adopted annual budget.  If a special revenue fund does not meet the percentage criteria in paragraph 76 (a) and (b), but is nevertheless reported as a major fund because the “government’s officials believe is particularly important to financial statement users (for example, because of public interest or consistency),” a  budgetary comparison schedule is also required for that “major” special revenue fund.

Should the carryover of encumbrances be included as part of the original budget even though the exact amount of the encumbrances may not be known at the time the budget is adopted ?
Yes.  Paragraph 130(a) states that “The original budget should also include actual appropriation amounts automatically carried over from prior years by law. For example, a legal provision may require the automatic rolling forward of appropriations to cover prior-year encumbrances.”  In essence the adopted budget includes a provision to cover prior year encumbrances in whatever amounts they may be.  The amounts will be known by the time the financial statements are issued after the year-end.