USA Government Agency Financials

Sep 4, 2019
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United States
Hello All,

Is it common practice to publish governmental agencies financial statements as "Market Value" rather than normal "Actual Value".

Explanation: My new employer, a government JPA, has been reporting their Financials based on the County Treasury's "Market Value" fund balances. Now that we are using our own accounting software, we are reconciling to the "fund" statements balances which are Actual Cash Value.

The County makes the "Market Value" adjustment at the end of each year to determine investment interest allocation, but the actual cash value is unchanged.

If we were to publish "Market Value" rather than "Actual Value" we would have to post an adjustment to reduce Interest Earned from $161K to $88K, even though $161K is what the actual fund was credited.


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