Revised fAugust, f2007
UNIFORM fFINANCIAL fREPORTING fMANUAL
TABLE fOF fCONTENTS
Chapter f1 f– fIntroduction
1-1 Introduction
1-2 Revisions fto fthe fUFRM
Chapter f2 f– fAccounting fand fReporting fRequirements
2-1 Introduction
2-2 Budgets
2-3 Reporting fEntity
2-4 Financial fReporting fand fAudit fRequirements
Chapter f3 f– fUniform fSystem fof fAccounts
3-1 Introduction
3-2 System fof fAccounts f- fFunds
3-3 System fof fAccounts ffor fRevenue
3-4 System fof fAccounts ffor fExpenditures
3-5 Expenditure fObject fClasses
Chapter f4 f– fComparative fReport fTransmittal fForms
4-1 Introduction
4-2 General fInstructions
4-3 Form f100 f- fGeneral fGovernment fFunctional fExpenditures fand fSources fof
fRevenue
4-4 Form f110 f- fJoint fActivity/Element fForm
4-5 Form f120 f- fJoint fActivity/Element fForm ffor fSchools
4-6 Form f200 f- fLocal fRevenue fForm
4-7 Form f700 f- fGeneral fGovernment fSummary fForm
4-8 Form f300 f- fGeneral fGovernment fCapital fProjects
4-9 Form f310 f- fJoint fActivity/Element fCapital fProjects fForm
4-10 Form f400 f- fDebt fService ffor fGeneral fGovernment
4-11 Form f500 f- fSummary fof fOutstanding fDebt fForm
4-12 Form f600 f- fEnterprise fActivity fProvider fForm
4-13 Form f610 f- fEnterprise fActivity fContributor fForm
4-14 Form f050 f- fFinancial fStatement/Transmittal fReconciliation fForm
4-15 Reconciliation fof fEducation’s fAnnual fSchool fReport fto fAPA fTransmittals
4-16 Review fand fVerification fForms
4-17 The fAuditor’s fReview
- fSample fAuditor’s fReport fon fthe fApplication fof fAgreed-Upon fProcedures
Chapter f5 f– fComparative fReport
5-1 Introduction
5-2 Exhibit fA f- fGeneral fGovernment
5-3 Exhibit fB f- fLocal fRevenue
1-1
,UFRM f- fTable fof fContents Revised fAugust, f2007
UNIFORM fFINANCIAL fREPORTING fMANUAL
TABLE fOF fCONTENTS
5-4 Exhibit fB-1 f- fInter-Governmental fRevenue
5-5 Exhibit fB-2 f- fLocal fRevenue
5-6 Exhibit fC f- fSummary fof fMaintenance fand fOperation fExpenditures f- fby fFunction
5-7 Exhibit fC-1 fthrough fC-8 f- fFunction fExpenditures fby fActivity
5-8 Exhibit fD f- fGeneral fGovernment fExpenditures fby fObject fClass
5-9 Exhibit fE f- fCapital fProjects ffor fGeneral fGovernment
5-10 Exhibit fF f- fDebt fService ffor fGeneral fGovernment
5-11 Exhibit fG f- fSummary fof fOutstanding fDebt
5-12 Exhibit fH f- fSummary fof fEnterprise fActivities
5-13 Exhibit fI f- fDemographic fand fTax fData
Chapter f6 f– fPublic fEmployee fRetirement fSystems
6-1 Introduction
6-2 GASB fStatement f25
6-3 Soft fDollar fTransactions
6-4 GASB fStatement f27
- fSample fDisclosure ffor fGovernments fthat fParticipate fin fVRS
1-2
, Revised fJanuary, f2004
UNIFORM fFINANCIAL fREPORTING fMANUAL
CHAPTER f1
Introduction
1.1 f Introduction
The fUniform fFinancial fReporting fManual f(UFRM) fsets fthe frequirements ffor
fVirginia f local f governments f for f Comparative f Reporting f data f submitted f to fthe
fAuditor f of f Public f Accounts. f f Section f 15.2-2510 f of f the fCode f of f Virginia f requires
fall f counties, f cities, f towns f with fa f population f of f 3,500 f or f more, f and f towns
foperating fa f separate fschool f division f to f submit fa f statement fof frevenues,
fexpenditures, fand f other f required f data f to f the f Auditor f of f Public fAccounts f annually. f
fThe f UFRM fshould fassist f local f governments f in fmeeting fthis f reporting frequirement.
The fUFRM fhas fsix fchapters, fincluding fthis fintroduction. f f
Chapter f2, fAccounting fand fReporting fPrinciples, fis fa fdiscussion fof fthe faccounting
fand f reporting fprinciples f applicable f to fVirginia’s f local f governments. f f As f described
fin fChapter f 2, f local f governments fmust f follow f generally faccepted f accounting
fprinciples fas f defined fby f the f Governmental f Accounting f Standards f Board f(GASB)
fand f by fthe fAmerican f Institute f of fCertified f Public f Accountants.
It fis fimportant fto fnote fthat ffor fpurposes fof freporting ffinancial finformation fto fthe
fAuditor f of f Public f Accounts ffor f preparation fof f the fComparative fReport fof fLocal
fGovernment fRevenues fand fExpenditures f (Comparative fReport), f certain f reporting
frequirements f have f been fadopted fthat f are fnot f in fconformity fwith f generally
faccepted f accounting f principles. f f Chapter f 4 f discusses f these fspecial f reporting
frequirements f that f meet f the f needs f of f state f and flocal f government f legislative
fbodies f and f facilitate f uniformity fof f information. f fThey f do f not faffect fthe f local
fgovernments' f annual f financial freporting frequirements.
Chapter f3, fUniform fSystem fof fAccounts, fcontains fthe fchart fof faccounts
frecommended ffor f use f by f local fgovernments. f f Its f use fis frequired f for f preparation
fof fthe f Comparative fReport. f f The f chart fof faccounts f and f accompanying fdefinitions
fis fincluded f for frevenue, f expenditure, f and f object f class. f f The f chart f of faccounts
fdoes f not faddress fproprietary f fund f type f activities, fi.e., fwater fand f sewer futilities,
fand f internal f service ffunds.
A flocal fgovernment fthat fadopts fthe fchart fof faccounts ffor faccounting fpurposes fwill
ffind f it f much f easier f to f prepare f the f transmittal fforms fdescribed f in f Chapter f4, fthan
fa flocality f that f uses f a f different f chart fof f accounts f for f its f internal f accounting. f f A
flocality f using fa f different fchart f of f accounts f may f find f it f necessary fto f reclassify
fcertain f transactions fbefore f preparing f these f forms.
1-1
, UFRM f- fChapter f1 f- fIntroduction Revised fJanuary, f2004
Chapter f4, fComparative fReport fTransmittal fForms, fprovides finstructions ffor
fpreparation fof f transmittal f forms f submitted fto f the f Auditor f of f Public f Accounts f for
fuse fin f preparing f the f Comparative fReport. f f Because fof f the fneed f for f comparable
ffinancial f data f in f the f Comparative f Report f for f all f local f governments, f preparers
fmust f properly f utilize, f and f comply f with f these finstructions. f f The f instructions fare
fMANDATORY f for fthe f preparation f of f transmittal fforms f submitted fto f the f Auditor f of
fPublic f Accounts.
Chapter f5, fComparative fReport, fcontains fa fsample, fdescription fand fgeneral
finformation f for f each f exhibit f of f the f Comparative f Report. f f The fChapter falso
fdefines f key f report fterms fand f calculations f for f the f exhibits f and fdata.
Chapter f6, fPublic fEmployee fRetirement fSystems, fcontains fthe freporting fand
fdisclosure frequirements ffor fpublic f employee fretirement f systems f(PERS). f f It falso
fincludes fguidance f for f reporting f soft fdollar f transactions fas frequired f by f Code f of
fVirginia, fSection f51.1-1003.
1.2 f Revisions fto fthe fUFRM
This frevision fof fthe fUniform fFinancial fReporting fManual freflects fexisting
frequirements ffor f preparing f the f Comparative f Report f of f Local fGovernment
fRevenues f and f Expenditures. f fIt f also f includes f general finformation fon f the fexisting
fprofessional f literature f at f the f time f of f issuance. f f However, f as f changes f occur f to fthe
fComparative f Report f and fnew faccounting f and fauditing fpronouncements f emerge,
fthe fmanual fwill f need f to f change. f f The f Auditor fof fPublic fAccounts f will f periodically
freview f the fmanual f to f identify f changes fthat f may f be f required. f f The f Auditor f of
fPublic f Accounts f will f distribute f these fchanges f to f local f governments f and ftheir
fauditors f and f other f known f holders f of f the f Manual. f f
This frevision fhas fsignificant fformat fchanges fto faccommodate felectronic
fdistribution. f fThere f are fno f new frequirements fthat f have fnot f been f previously
fexposed ffor f public f comment f and f in f place f in fprior f years’ freports.
The felectronic fformat fof fthe fUniform fFinancial fReporting fManual fis favailable fon
fthe fAuditor f of fPublic fAccounts f web f site f at
fwww.apa.virginia.gov/local_government/manuals.htm. f fA f printed fcopy fof fthe
fManual f is f also f available f upon f request. f
The fAuditor fof fPublic fAccounts finvites fcomments fregarding fthis fManual fat fany
ftime. f f Comments f may f be f submitted fto f Kim f Via’s fattention f to f the faddress f below
for fe-mailed fto . f f We fwill f consider f comments f in
ffuture fupdates f or faddress f the f issue fin fan f Accounting f and f Auditing fAlert
1-2
UNIFORM fFINANCIAL fREPORTING fMANUAL
TABLE fOF fCONTENTS
Chapter f1 f– fIntroduction
1-1 Introduction
1-2 Revisions fto fthe fUFRM
Chapter f2 f– fAccounting fand fReporting fRequirements
2-1 Introduction
2-2 Budgets
2-3 Reporting fEntity
2-4 Financial fReporting fand fAudit fRequirements
Chapter f3 f– fUniform fSystem fof fAccounts
3-1 Introduction
3-2 System fof fAccounts f- fFunds
3-3 System fof fAccounts ffor fRevenue
3-4 System fof fAccounts ffor fExpenditures
3-5 Expenditure fObject fClasses
Chapter f4 f– fComparative fReport fTransmittal fForms
4-1 Introduction
4-2 General fInstructions
4-3 Form f100 f- fGeneral fGovernment fFunctional fExpenditures fand fSources fof
fRevenue
4-4 Form f110 f- fJoint fActivity/Element fForm
4-5 Form f120 f- fJoint fActivity/Element fForm ffor fSchools
4-6 Form f200 f- fLocal fRevenue fForm
4-7 Form f700 f- fGeneral fGovernment fSummary fForm
4-8 Form f300 f- fGeneral fGovernment fCapital fProjects
4-9 Form f310 f- fJoint fActivity/Element fCapital fProjects fForm
4-10 Form f400 f- fDebt fService ffor fGeneral fGovernment
4-11 Form f500 f- fSummary fof fOutstanding fDebt fForm
4-12 Form f600 f- fEnterprise fActivity fProvider fForm
4-13 Form f610 f- fEnterprise fActivity fContributor fForm
4-14 Form f050 f- fFinancial fStatement/Transmittal fReconciliation fForm
4-15 Reconciliation fof fEducation’s fAnnual fSchool fReport fto fAPA fTransmittals
4-16 Review fand fVerification fForms
4-17 The fAuditor’s fReview
- fSample fAuditor’s fReport fon fthe fApplication fof fAgreed-Upon fProcedures
Chapter f5 f– fComparative fReport
5-1 Introduction
5-2 Exhibit fA f- fGeneral fGovernment
5-3 Exhibit fB f- fLocal fRevenue
1-1
,UFRM f- fTable fof fContents Revised fAugust, f2007
UNIFORM fFINANCIAL fREPORTING fMANUAL
TABLE fOF fCONTENTS
5-4 Exhibit fB-1 f- fInter-Governmental fRevenue
5-5 Exhibit fB-2 f- fLocal fRevenue
5-6 Exhibit fC f- fSummary fof fMaintenance fand fOperation fExpenditures f- fby fFunction
5-7 Exhibit fC-1 fthrough fC-8 f- fFunction fExpenditures fby fActivity
5-8 Exhibit fD f- fGeneral fGovernment fExpenditures fby fObject fClass
5-9 Exhibit fE f- fCapital fProjects ffor fGeneral fGovernment
5-10 Exhibit fF f- fDebt fService ffor fGeneral fGovernment
5-11 Exhibit fG f- fSummary fof fOutstanding fDebt
5-12 Exhibit fH f- fSummary fof fEnterprise fActivities
5-13 Exhibit fI f- fDemographic fand fTax fData
Chapter f6 f– fPublic fEmployee fRetirement fSystems
6-1 Introduction
6-2 GASB fStatement f25
6-3 Soft fDollar fTransactions
6-4 GASB fStatement f27
- fSample fDisclosure ffor fGovernments fthat fParticipate fin fVRS
1-2
, Revised fJanuary, f2004
UNIFORM fFINANCIAL fREPORTING fMANUAL
CHAPTER f1
Introduction
1.1 f Introduction
The fUniform fFinancial fReporting fManual f(UFRM) fsets fthe frequirements ffor
fVirginia f local f governments f for f Comparative f Reporting f data f submitted f to fthe
fAuditor f of f Public f Accounts. f f Section f 15.2-2510 f of f the fCode f of f Virginia f requires
fall f counties, f cities, f towns f with fa f population f of f 3,500 f or f more, f and f towns
foperating fa f separate fschool f division f to f submit fa f statement fof frevenues,
fexpenditures, fand f other f required f data f to f the f Auditor f of f Public fAccounts f annually. f
fThe f UFRM fshould fassist f local f governments f in fmeeting fthis f reporting frequirement.
The fUFRM fhas fsix fchapters, fincluding fthis fintroduction. f f
Chapter f2, fAccounting fand fReporting fPrinciples, fis fa fdiscussion fof fthe faccounting
fand f reporting fprinciples f applicable f to fVirginia’s f local f governments. f f As f described
fin fChapter f 2, f local f governments fmust f follow f generally faccepted f accounting
fprinciples fas f defined fby f the f Governmental f Accounting f Standards f Board f(GASB)
fand f by fthe fAmerican f Institute f of fCertified f Public f Accountants.
It fis fimportant fto fnote fthat ffor fpurposes fof freporting ffinancial finformation fto fthe
fAuditor f of f Public f Accounts ffor f preparation fof f the fComparative fReport fof fLocal
fGovernment fRevenues fand fExpenditures f (Comparative fReport), f certain f reporting
frequirements f have f been fadopted fthat f are fnot f in fconformity fwith f generally
faccepted f accounting f principles. f f Chapter f 4 f discusses f these fspecial f reporting
frequirements f that f meet f the f needs f of f state f and flocal f government f legislative
fbodies f and f facilitate f uniformity fof f information. f fThey f do f not faffect fthe f local
fgovernments' f annual f financial freporting frequirements.
Chapter f3, fUniform fSystem fof fAccounts, fcontains fthe fchart fof faccounts
frecommended ffor f use f by f local fgovernments. f f Its f use fis frequired f for f preparation
fof fthe f Comparative fReport. f f The f chart fof faccounts f and f accompanying fdefinitions
fis fincluded f for frevenue, f expenditure, f and f object f class. f f The f chart f of faccounts
fdoes f not faddress fproprietary f fund f type f activities, fi.e., fwater fand f sewer futilities,
fand f internal f service ffunds.
A flocal fgovernment fthat fadopts fthe fchart fof faccounts ffor faccounting fpurposes fwill
ffind f it f much f easier f to f prepare f the f transmittal fforms fdescribed f in f Chapter f4, fthan
fa flocality f that f uses f a f different f chart fof f accounts f for f its f internal f accounting. f f A
flocality f using fa f different fchart f of f accounts f may f find f it f necessary fto f reclassify
fcertain f transactions fbefore f preparing f these f forms.
1-1
, UFRM f- fChapter f1 f- fIntroduction Revised fJanuary, f2004
Chapter f4, fComparative fReport fTransmittal fForms, fprovides finstructions ffor
fpreparation fof f transmittal f forms f submitted fto f the f Auditor f of f Public f Accounts f for
fuse fin f preparing f the f Comparative fReport. f f Because fof f the fneed f for f comparable
ffinancial f data f in f the f Comparative f Report f for f all f local f governments, f preparers
fmust f properly f utilize, f and f comply f with f these finstructions. f f The f instructions fare
fMANDATORY f for fthe f preparation f of f transmittal fforms f submitted fto f the f Auditor f of
fPublic f Accounts.
Chapter f5, fComparative fReport, fcontains fa fsample, fdescription fand fgeneral
finformation f for f each f exhibit f of f the f Comparative f Report. f f The fChapter falso
fdefines f key f report fterms fand f calculations f for f the f exhibits f and fdata.
Chapter f6, fPublic fEmployee fRetirement fSystems, fcontains fthe freporting fand
fdisclosure frequirements ffor fpublic f employee fretirement f systems f(PERS). f f It falso
fincludes fguidance f for f reporting f soft fdollar f transactions fas frequired f by f Code f of
fVirginia, fSection f51.1-1003.
1.2 f Revisions fto fthe fUFRM
This frevision fof fthe fUniform fFinancial fReporting fManual freflects fexisting
frequirements ffor f preparing f the f Comparative f Report f of f Local fGovernment
fRevenues f and f Expenditures. f fIt f also f includes f general finformation fon f the fexisting
fprofessional f literature f at f the f time f of f issuance. f f However, f as f changes f occur f to fthe
fComparative f Report f and fnew faccounting f and fauditing fpronouncements f emerge,
fthe fmanual fwill f need f to f change. f f The f Auditor fof fPublic fAccounts f will f periodically
freview f the fmanual f to f identify f changes fthat f may f be f required. f f The f Auditor f of
fPublic f Accounts f will f distribute f these fchanges f to f local f governments f and ftheir
fauditors f and f other f known f holders f of f the f Manual. f f
This frevision fhas fsignificant fformat fchanges fto faccommodate felectronic
fdistribution. f fThere f are fno f new frequirements fthat f have fnot f been f previously
fexposed ffor f public f comment f and f in f place f in fprior f years’ freports.
The felectronic fformat fof fthe fUniform fFinancial fReporting fManual fis favailable fon
fthe fAuditor f of fPublic fAccounts f web f site f at
fwww.apa.virginia.gov/local_government/manuals.htm. f fA f printed fcopy fof fthe
fManual f is f also f available f upon f request. f
The fAuditor fof fPublic fAccounts finvites fcomments fregarding fthis fManual fat fany
ftime. f f Comments f may f be f submitted fto f Kim f Via’s fattention f to f the faddress f below
for fe-mailed fto . f f We fwill f consider f comments f in
ffuture fupdates f or faddress f the f issue fin fan f Accounting f and f Auditing fAlert
1-2
