County of Sonoma - Auditor-Controller's Office

GASB No. 34 Implementation Plan - Draft

This plan is provided for discussion and comment. The plan is at a "high level," meaning many more detailed tasks are developed within the broad categories.
Due Task Description Assigned To In Completed
Date     Progress  
Pre-implementation:        
Mar-00 Implementation Committee Formed N/A   Mar-00
Mar-00 Second meeting of implementation Committee N/A   Mar-00
Apr-00 Expose plan to other County Auditors, request input Mark W. Apr-00
Apr-00 Develop communications listing of departments, CAO, component units, etc. Donna   Apr-00
Apr-00 Draft communications letters to send to above Donna/Greg   Apr-00
Apr-00 Develop listing of training courses available. Communicate training opportunities Greg Apr-00
Apr-00 Review debt financing and infrastructure currently reported in CAFR Betsy/Mark S/Terry May-00 
Apr-00 Develop list of customers in a decision matrix showing if and when affected. Greg/Donna   Apr-00
Apr-00 Communication letters reviewed by a layperson and staff members Group   Apr-00
May-00 Committee approves communications letters. Letters sent out Group May-00 
Apr-00 Analyze current fixed asset accounting system. Mark S X  continued
Apr-00 Establish and maintain communications with external auditor. Mark S./Betsy H. X  continued
May-00 Report to committee results of fixed asset system analysis. Mark S  May-00
May-00 Assess infrastructure cost information available.  Group Preliminary finished for Roads 5/00
May-00 Decision on contracting out for fixed asset infrastructure valuation Group Contract not needed, 10/00
May-00 Perform Preliminary Assessment of Fund
 Types/Trust and Agency Funds
Group May-Sept. '00
Sep-00 2nd communication letter drafted to send to entities on communication listing. Discusses Fund Changes. Donna  Sep-00
Sep-00 Communication letters reviewed by a layperson and staff members Group Oct-00 
Sep-00 Committee approves 2nd communication letter. Letters sent out Group Oct-00 
Sep-00 Committee to meet with CAO prior to budget instructions. Mark W./Mark S. X Preliminary discussion held, informally
Oct-00 Above committee meets to discuss how GASB #34 will affect budgeting Mark W./Mark S./Donna D. Oct-00 
Oct-00 Develop System to Classify Expenditures For Infrastructure and Maintenance (Roads) Donna D. X
Nov-00 CAO & Auditor hold meetings with departments - GASB 34 Budget Affects Mark/Mark/Donna  x Nov  00 - March 01
Jan-01 Budget instructions sent to departments for 2001/2002 incorporating changes CAO  x 1/01 
Implementation:        
May-01 Revise year end instructions to departments Mark S./Lisa X
July-01 Prospective infrastructure reporting implemented Mark S. X  
June-01 For enterprise and internal service funds, direct method of cash flow reporting Various    
June-01 M D & A developed Betsy/Mark S. X  
June-01 Major funds identified Betsy/Mark S. X  
June-01 Capture accrual information Betsy/Mark S. X  
June-01 Eliminate account groups for financial statement reporting purposes Betsy/Mark S. X  
June-01 Review changes in funds: internal service, enterprise, trust/agency, permanent, etc. Betsy/Mark S.    
June-01 Allocation of Direct and indirect costs to programs Bob P/Mark S. X  
June-01 Restate beginning balances for the cumulative effect of implementing GASB No. 34 Betsy/Mark S.    
June-01 CAFR reformatting completed using 99/00 actual numbers Betsy/Mark S. X  
June-01 Committee reviews new CAFR reformatting and approves Group X  
June-01 Prepare to restate financials for 2000/2001 Betsy/Mark S. X  
June-01 Trial "Mock up" of CAFR Betsy/Mark S. X  
June-01 Determine content of additional "Required Supplementary Information" Group X  
May-02 Revise year end instructions to departments Mark S./Lisa X  
Post-implementation:        
July-02 to First audit completed of new CAFR with GASB #34 implemented Betsy/Mark S.    
Dec-02 First audit of new CAFR with GASB #34 implemented Betsy/Mark S. X  
Dec-02 Prepare and produce actual CAFR implementing GASB #34 Betsy/Mark S. X  
2005/2006 Retroactively report infrastructure assets Group X  
Ongoing Tasks:        
Ongoing Establish and maintain communications with external auditor. Mark S./Betsy H. X  
Ongoing Staff training related to GASB #34 All X  
Ongoing Revise implementation plan as needed Group X  
Ongoing Continuous communication with other Counties Mark W./Group X  
Ongoing Meet to monitor progress of plan Group X  
Ongoing Resource assessment, both internal and external Group X  
Ongoing Monitor staff training to determine that all required staff receive training Greg X  
Ongoing Assess users satisfaction with financial information Group    

Last Updated on March, 2001
By Mark Walsh
Email: mwalsh@sonoma-county.org