Preparing financial statements for the Call Report is just like preparing your own internal financial statements, right? Think again! There are subtle differences that may go unnoticed. This session will provide tips, tricks, and relevant examples to assist in preparing the quarterly Call Report. It will address how to prepare the statement of financial condition and statement of income and expense and when to complete Schedule A – Specialized Lending, including:
- Section 1 – Indirect Loans
- Section 2 – Real Estate Loans and Lines of Credit (LOCs)
- Section 3 – Loan Participations
- Section 4 – Commercial Lending
- Section 5 – Troubled Debt Restructurings (TDRs)
- Section 6 – Purchased Credit Impaired Loans (PCILs)
- Where to summarize cash clearing accounts
- What to include and exclude from loans and leases
- Reporting differences between loan participations, with and without recourse
- Commercial loan definition and important exclusions
- TDR reporting and when it is no longer required
- TAKE-AWAY TOOLKIT
- Important links to NCUA’s Credit Union Online website, including upcoming cycle due dates, FAQs, forms, instructions, Call Report access, and technical support
- Employee training log
- NEW – Interactive quiz
WHO SHOULD ATTEND?
This informative session is designed for individuals responsible for preparing and reviewing the quarterly Call Reports, including data collection related to Schedule A – Specialized Lending.
SPEAKER: Stephen J.M. Schiltz, CliftonLarsonAllen LLP
Steve Schiltz is principal with CliftonLarsonAllen’s Tucson office. He began his career with CliftonLarsonAllen in 2002 and has extensive experience providing assurance services to credit unions and credit union service organizations. Steve has made presentations to credit union management teams, supervisory committees, and boards of directors, as well as national speaking engagements and webinars.
A licensed CPA in Arizona and Texas, Steve is a member of the AICPA, Arizona Society of CPAs, and the Beta Gamma Sigma Honor Society. He received his bachelor’s in accounting, cum laude, from the University of Arizona in Tucson.