Statement K1 - Private Purpose Trust Fund

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School Districts Accounting and Reporting Manual

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(ENTRY 1)  TE8021 Fund Balance as of July 1, 2007

The opening balance on Line 1 must agree with the closing balance last year on Statement K1.

 

(ENTRY 6)  TET5599

The total revenue amount recorded in TET5599 on schedule K2 (Statement of Activities) will be transferred by the computer program to this line. It is important to complete the revenue schedule before completing this statement.

 

(ENTRY 7)  TET9999.0

The total expenditure amount recorded in TET9999.0 on schedule K2 will be transferred by the computer program to this line on Statement K1. It is important to complete the expenditure schedule (K2) before completing this statement.

 

(ENTRY 8)  TE8026

This value is computer generated by comparing the Net Assets restricted for Other Purposes reported on the Statement of Net Assets (Exhibit K TE923) with the ending Net Assets TE8029 on this statement (K1). If the difference is less than 11, a rounding adjustment will be entered so that the two fund balance amounts agree. A difference of 11 or greater will not be adjusted automatically and indicates that the fund balance amounts should be examined.

 

(ENTRY 9)  TE8029

The ending fund balance (Net Assets) is calculated by adding lines 1, 2, 3, 6 and subtracting lines 4, 5, 7.