Generally Accepted Accounting Principles (GAAP)

Basis Financial Statements (in accordance with GASB 34) Introduction to GASB 34 GAAP Financial Statements

These files have been prepared by the State Auditor's Office to assist Ohio local governments in the transition to the new reporting model required by GASB Statement No. 34. There are three sets of files: one designed especially for schools, one for cities, and one for counties. Each set of files includes:

• Draft financial statements which serve as a starting point for creating statements that are designed specifically for your government;
• Sample notes to the financial statements that have been modified for both Statement 34 and Statement 38;
• A file that will assist in the identification of major funds;
• A conversion plan that details the process used by the Local Government Services Division (LGS) when converting from the old to the new model; and,
• Worksheets that are used by LGS to document the conversion process for audit.

Each set of files has been provided in both a Quattro Pro/WordPerfect version and an Excel/Word version. The conversion plan and the notes to the financial statements are also offered in a PDF format.

Because the Word files were originally created in WordPerfect, they do not print as cleanly as they could. The indentation and outline features of WordPerfect do not translate well into Word. In order to print a completely clean document, some modification of these files will be necessary.