Accounting Policy Meeting
Wednesday, June 24, 2026
Agenda
| Time | Topic | Speaker |
|---|---|---|
| 10–10:05 a.m. | Welcome and Introductions | Esteban Garcia, appropriation control officer, Fiscal Management Division, Texas Comptroller of Public Accounts |
| 10:05–10:30 a.m. | SEFA Updates and Common Errors | Dina Fletcher & Irma Toth, SEFA systems analysts, Fiscal Management Division, Texas Comptroller of Public Accounts |
| 10:30–11 a.m. | State Property Accounting (SPA) Updates and Common Errors | Vanessa Heckert & David Escamilla, SPA systems analyst, Fiscal Management Division, Texas Comptroller of Public Accounts |
| 11–11:25 a.m. | GASB Statement No. 103, Financial Reporting Model Improvements | Financial Reporting section, Fiscal Management Division, Texas Comptroller of Public Accounts |
| 11:25–11:45 a.m. | SPTR Update and Common Errors | Financial Reporting section, Fiscal Management Division, Texas Comptroller of Public Accounts |
| 11:45–11:55 a.m. | Questions | Fiscal Management Division, Texas Comptroller of Public Accounts |
| 11:55–Noon | Adjourn | Esteban Garcia, appropriation control officer, Fiscal Management Division, Texas Comptroller of Public Accounts |
Attendees can choose to attend the June 24 webinar (10 a.m.–noon CDT) one of two ways:
- Attend in person at:
REJ Conference Center, Central Conference Room
1501 N. Congress Ave., Austin, TX 78701 - Attend online by:
Registering for the June 24 Financial Reporting Updates webinar (via Webex). After registering, you will receive a confirmation email containing information about joining the webinar.
Webinar Information
- The webinar will not be recorded.
- No CPE Credit is offered at this time.
- Questions & Answers will be posted to the June 24 meeting webpage in a few weeks.
- If you have questions about the webinar, email the Financial Reporting section at frs@cpa.texas.gov.
Tips to Follow During the Webinar
- Use Google Chrome as the internet browser to avoid Webex connectivity issues.
- If you lose the connection to the webinar while it is in progress, find your registration confirmation email and click the link to join the webinar again. The presentation should resume in progress.
- If you are using a web browser with multiple tab functionality, open a new window with only a single tab to ensure you do not have multiple sessions open.
To End the Webinar
At the end of the presentation, the moderator will end the webinar. Close your web browser when the webinar is over.
Parking
See the Capitol Complex Public Parking for Tourists and Visitors PDF.
Questions and Answers
Schedule of Expenditures of Federal Awards (SEFA)
If all funds are not spent, agencies should reach out to their financial reporting analyst regarding the USAS entries needed to classify this balance as revenue or expenditures.
The majority of federal interest earned is normally placed under COBJ 3851; however, agencies typically don’t get to keep the federal interest. The agency will need to look at the reporting requirements to make this determination. While interest usually must be returned, agencies do get to keep the interest from certain funds, like COVID funds under fund 0325.
GASB 103, Financial Reporting Model Improvements
Per GASB 103, audited agencies are required to submit all five sections of Management’s Discussion and Analysis (MD&A).
Unaudited agencies are not required to submit MD&A. However, if the agency has anything that is significant or is typically reported in Note 18, the agency must continue to make that disclosure.
Exhibit F2, the criteria statement, will be restructured to include a new subsection through non-capital subsidies. If your agency has any unusual or infrequent items, this could potentially affect the government wide statement as well as the proprietary statement.
Exhibit F3, referring to cash flows or fiduciary funds, will not be impacted.
Only the operating statement will be impacted. Proprietary funds are going to have the largest impact because of the new subsection but with the new guidance for unusual and infrequent there is potential for impact to go to the governmental funds and the proprietary funds.
This has not yet been determined – More information will be published at a later date.
Yes, the templates & samples available on the reporting requirements website will be updated to reflect GASB 103 changes.
There is no threshold at this time, and it is unlikely that one will be established.
If something comes up for your agency through the course of the year, reach out to your Financial Reporting section analyst to discuss it and to determine if a disclosure is necessary.
July 1
All of the AFR web applications will open on July 1st.
Agencies must make sure they have access to all web apps prior to year end because all agencies are required to certify every web application.
While web apps are open and accessible, it’s unlikely any action needs to be taken at this time as balances aren’t finalized until year end.
The only application that requires immediate action is the SEFA web application.
While it is possible to certify the web applications, we recommend waiting at least until Sept. 1 to do so in case something changes.
Yes, GASB questionnaires open to agencies on July 1. There is a new survey this year for GASB 104. All GASB surveys will be due by Aug. 15.