Reporting Requirements for Annual Financial Reports of State Agencies and Universities
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Reporting Requirements
Issued: Sept. 1, 1993
FPP A.036
The state of Texas fiscal year begins Sept. 1 of the calendar year and runs through Aug. 31 of the following calendar year.
A “state agency” is defined to be:
- Any department, commission, board or office.
- The Supreme Court of Texas, the Court of Criminal Appeals of Texas, a court of appeals, the Texas Civil Judicial Council, the Office of Court Administration of the Texas Judicial System, the State Bar of Texas or any other state judicial agency.
- A university system or an institution of higher education.
- Another governmental organization that is determined to be a component unit of state government for financial reporting purposes.
Latest Updates
The AFR website is now updated on a continual basis, instead of an annual release for each reporting period. The following table displays all content changes to this website made after March 20, 2025.
2025 Updates Table
The following table displays all content changes to this website. Updates critical to the reporting requirements (policies/procedures) are indicated with highlighted rows.
| Date | Updates |
|---|---|
| 05/08/2025 | Updated Employee Compensable Leave to include guidance on sick leave. |
| 05/08/2025 | Added new USAS entries in Note 5 – Long-Term Liabilities’ Compensable Leave Liability Methodology for sick leave accrual. |
| 04/29/2025 | Updated FAQs to include questions regarding the new capitalization threshold, USAS/SPA reconciliation and AFR deadlines. |
| 04/17/2025 | Updated the Interest Rates table by adding the borrowing rates for the second quarter of 2025. |
| 04/17/2025 | Updated the Deadlines for AFR submissions. |
| 04/17/2025 | Updated the Upcoming GASB Statements. |
| 01/08/2025 | Updated the Interest Rates table by adding the borrowing rates for the first quarter of fiscal 2024. |