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One-time enrollment · 12-month access
Enroll NowGroup pricing available →Go beyond the basics of governmental utility accounting. Apply GASB 34, 62, and 103 to enterprise fund reporting, capital assets, regulatory deferrals, bond covenants, and net position, then use the numbers to judge rate sufficiency and financial health.
Municipal and public power utilities report under GASB, and the rules behind the statements are not always intuitive. This course takes you from why utilities are enterprise funds through the three required statements, the GASB 103 operating statement changes, and where utilities appear in the ACFR.
You will apply capital asset rules, including historical cost, depreciation versus the modified approach, and why construction-period interest is no longer capitalized. You will work through GASB 62 regulatory accounting, including regulatory assets and liabilities, CIAC journal entries for a tax-exempt utility, and how GASB 62 compares with ASC 980.
The course closes with revenue bonds, the flow of funds, restricted assets, net position classification, and reserve funds, then puts it to work with debt service coverage, days cash on hand, and a checklist for reading an ACFR. A sample utility, Lakeshore Municipal Utilities, carries through the examples.
Explain why governmental utilities use enterprise funds, identify the three financial statements required under GASB 34, and describe full accrual accounting and the GASB 103 operating and nonoperating changes
Why governmental utilities use enterprise funds, the three required statements, full accrual, the GASB 103 operating statement changes, and where utilities appear in the ACFR. | 1. Why enterprise funds | 2. Statement of Net Position and operating statement | 3. Basis of accounting | 4. Utilities in the ACFR
Capital asset definition, historical cost, depreciation versus the modified approach, utility-specific assets, newer standards, and construction work in progress. | 1. Capitalization and historical cost | 2. Depreciation and the modified approach | 3. Leases, subscriptions, and retirement obligations | 4. CWIP and construction-period interest
Which utilities qualify, regulatory assets and liabilities, CIAC treatment for tax-exempt utilities, and how GASB 62 compares with ASC 980. | 1. Three qualifying criteria | 2. Regulatory assets and liabilities | 3. CIAC journal entries | 4. GASB 62 versus ASC 980
Revenue bonds, the flow of funds, restricted assets, net position classification, reserve funds, and debt disclosures. | 1. Revenue bonds and the resolution | 2. Flow of funds and restricted assets | 3. Net position classification | 4. Reserve funds and debt disclosures
Debt service coverage, liquidity, utility benchmarks, and a checklist for reading an ACFR. | 1. Debt service coverage | 2. Days cash on hand and current ratio | 3. Utility-type benchmarks | 4. Reading an ACFR
