Wiley GAAP for Governments 2020

23EDUCATIONAL AND OTHER GOVERNMENTAL ENTITIES

• Introduction
• School Districts
  • Legal Compliance
  • Fund Accounting
  • Reporting Entity
• Governmental Colleges and Universities
  • Reporting Entity Considerations
  • Costs of Activities That Include Fundraising
  • Allocation Methods
  • Incidental Activities
  • Special-Purpose Governments
• Governmental Hospitals and Other Health Care Providers
  • Reporting Entity Considerations
• Governmental Not-for-Profit Organizations
• Other Public Benefit Corporations
  • Utilities
• Summary

INTRODUCTION

This chapter discusses the broad accounting and financial reporting requirements and practices for several groups of governmental organizations:

• School districts.
• Governmental colleges and universities.
• Governmental hospitals and other health care providers.
• Governmental not-for-profit organizations.
• Other public benefit corporations.

SCHOOL DISTRICTS

In examining the accounting and financial reporting for school districts, the main area to examine is how the accounting and financial reporting for school districts would differ from that for general-purpose governments, which has been described throughout this guide.

First, school districts are governmental entities subject to the jurisdiction of the Governmental Accounting Standards Board (GASB). Second, school districts would prepare a Comprehensive Annual Financial Report (CAFR) in conformity with GAAP, as would any general-purpose government.

Beyond these commonalties, however, there are some practical differences ...