However, governments might find the reporting of interfund borrowing to be too cumbersome. For interfund balances, identification of the amounts due from other funds by individual major fund, nonmajor funds in the aggregate, internal service funds in the aggregate, and fiduciary fund type, and the purpose for balances that are not expected to be repaid within one year. Reasonable b. Terms of interest rate changes for variable-rate debt. Reasonable c. Details about significant individual accounts when their nature is obscured by aggregation. This proposed Statement would rescind the current requirement to disclose the accounting policy for encumbrances.
Transfer payments remain one of the mysteries of governmental accounting.
This change will help address that concern. In some cases, this might not be applicable, such as when a transfer is made to pay for the cost of some particular type of program or outlay. A simple statement of the purpose of the transfer would be sufficient. However, in other cases, it might be helpful to the user. The amount of the transfer is determined by application of the city s indirect cost rate.