Town of New Sampleford 2009 Annual Results Municipal financial statements Demonstrate accountability and transparency to citizens Fulfill legislated requirements Aid in effective longterm planning ID: 461979
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Slide1
Municipal Financial Reporting
Town of New Sampleford
2009 Annual ResultsSlide2
Municipal financial statements
Demonstrate accountability and transparency to citizens
Fulfill legislated requirementsAid in effective long-term planningProvide a snapshot in time
Why are the financial
statements important?Slide3
What has changed?
New
accounting standards for local governments take effectRequired for 2009 reporting
Consistent across Canada
Tangible capital assets to be recorded
Statements now based on the
net financial assets (debt) modelSlide4
Statement of Financial Position
Reports on assets, liabilities, accumulated surplus
Statement of Operations
Reports on revenues, expenses, results
Statement of Change in Net Financial Assets (Debt)
Reports on surplus (deficit), tangible capital asset acquisitions
Statement of Cash FlowIdentifies cash sources and use
What are the key
financial statements?Slide5
Components of the annual statements that provide additional information
Included to assist the reader of the statements to understand the financial condition of the municipality
Can vary in detail and formShould be consistent with individual municipality’s reporting format and content
Supplementary SchedulesSlide6
Schedule of Tangible Capital Assets
Compares net book value of TCAs to previous year
Schedule of Property and Other TaxesReports on taxation, Alberta School Foundation FundSchedule of Government TransfersTransfers from federal, provincial and other local governments
Schedule of Consolidated Expenses by Object
Includes amortization expense for TCAs
Typical Supplementary SchedulesSlide7
Notes contain important detail and explanations of the financial statement information
Some note disclosure required by legislation
Debt limitsSalary Disclosure
Notes to the Financial StatementsSlide8
Notes to the financial statements disclose information about:
Accounting policies
Cash and investmentsDeferred revenueEmployee benefit obligationsDebt and debt limitsTangible capital assets
Accumulated surplus
Typical Note DisclosureSlide9
Current Year
Previous YearTotal Financial Assets $ (insert amount) $ (insert amount)
Total Liabilities $ (insert amount) $ (insert amount)
Long Term Debt $ (insert amount) $ (insert amount)
Net Financial Assets (Debt) $ (insert amount) $ (insert amount)
Non Financial Assets $ (insert amount) $ (insert amount)Accumulated Surplus $ (insert amount) $ (insert amount)
Town of New Sampleford
2009 Statement of Financial PositionSlide10
Current Year
BudgetedTotal Revenue $ (insert amount) $ (insert amount)
Total Expenses $ (insert amount) $ (insert amount)
Excess (Shortfall) of Revenue
Over Expenses $ (insert amount) $ (insert amount)
Town of New Sampleford2009 Statement of Operations
Accumulated Surplus (beginning) $ (insert amount)
Accumulated Surplus (ending) $ (insert amount)Slide11
Net Financial Assets (Debt) (beginning) $ (insert amount)
Net Financial Assets (Debt) (ending) $ (insert amount)
Town of New Sampleford
2009 Change in Net Financial Assets (Debt)
Current Year
BudgetedAcquisition of TCAs $ (insert amount) $ (insert amount)
Contributed TCAs $ (insert amount) $ (insert amount)
Increase (Decrease) in Net Debt $ (insert amount) $ (insert amount)Slide12
Current Year
BudgetCash provided by operating transactions $ (insert amount) $ (insert amount)
Cash applied to capital transactions
$ (insert amount) $ (insert amount)
Cash provided by (applied to) investing
$ (insert amount) $ (insert amount) transactions Cash provided by (applied to) financing $ (insert amount) $ (insert amount) transactions
Town of New Sampleford
2009 Statement of Cash Flows
Change in cash and equivalents, during the year $ (insert amount)
Cash and cash equivalents, end of year $ (insert amount)Slide13
2009
2008Cost of Tangible Capital Assets - opening $ (insert amount) $ (insert amount)Additions & Reductions $ (insert amount) $ (insert amount)
Amortization & Adjustments $ (insert amount) $ (insert amount)
Net Book Value of Tangible Capital Assets $ (insert amount) $ (insert amount)
Town of New Sampleford2009 Schedule 1 - TCAsSlide14
(Insert Summary of Notes to Financial Statements)
(Add additional slides as necessary)
Town of New Sampleford
2009 Notes to Financial StatementsSlide15
Summary of Audit Report
(Insert summary/outcome of annual audit)Slide16
Questions and next steps