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 1, 2026.
2026 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 |
|---|---|
| 05/01/2026 | Updated Proprietary Funds to include guidance on operating vs. nonoperating revenue. |
| 04/24/2026 | Updated guidance for Note 23 – Unusual or Infrequent Items according to GASB 103. |
| 04/16/2026 | Updated guidance on Subsidies & Transfers per GASB 103. |
| 04/10/2026 | Added GASB 103 requirements for MD&A Structure. |
| 04/10/2026 | Updated NOTE 18 – Management’s Discussion and Analysis (MD&A) to reflect current guidance. |
| 04/10/2026 | Added a new Sample for Note 18 – MD&A. |
| 04/10/2026 | Added MD&A Simplified structure to Templates & Sample Exhibits. |
| 04/02/2026 | Updated the Interest Rates Contract Term table by adding the borrowing rates for the second quarter of 2026. |
| 03/13/2026 | Updated the Upcoming GASB Statements page. |