Orange County NC Website
Browse       Search
18 <br />• <br />Orange County <br />GASB 54 Fund Balance Changes <br />June 30, 2010 <br />Current Presentation <br />balance <br />Reserved for inventories ............................ <br />Reserved for encumbrances ...................... <br />Reserved by State Statute ......................... <br />Designated for future year ezpendifures.... <br />Undesignated ............................................. <br />Total Fund Balance <br />GASB 54 Presentation <br /> Fund balance <br /> Nonspendable <br />$ 143,078 Invenfories ............................................................ $ 143,D78 <br />1,843,044 Restricted <br />1,956,442 Restricted by State Siafute ................................... 9,199,486 <br /> Committed <br /> Committed for Department of Social Services...... <br />401,673 Assigned ................................................................... 401,673 <br />21,097,822 Unassigned .............................................................. 21,097,622 <br />$ 31,442,059 Total Fund Balance <br />$ 31,442,0591 <br />WHAT TO D®? <br />Communicate the fund balance changes to <br />the BOCC, Manager and others so the <br />changes are reflected in the FY 2011-12 <br />Budget . <br />Establish a fund balance policy that <br />implements GASB 54. <br />Change the Fund Definitions and consolidate <br />funds to comply with the new standard. <br />• <br />• <br />