2025 Updates Table - Reporting Requirements for Annual Financial Reports of State Agencies and Universities
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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 |
|---|---|
| 01/06/2026 | Updated the Interest Rates’ Contract Term table by adding the borrowing rates for the first quarter of 2026. |
| 10/08/2025 | Added information on Employee Compensable Leave regarding Fiscal Year Sick Leave Determination. |
| 07/25/2025 | Updated the Tuition Discounting and Student Financial Aid Accounting to reflect guidance changes. |
| 07/02/2025 | Updated the Interest Rates table by adding the borrowing rates for the third quarter of 2025. |
| 06/30/2025 | Opened the AFR web applications for the current fiscal year entry. |
| 06/24/2025 | Updated Fund Balance/Net Position, Governmental Funds with additional examples and for FTs 11, 12 and 21. |
| 06/24/2025 | Updated the Appendices’ Excel files to reflect the fiscal 2025 GL and COBJ accounts. |
| 06/16/2025 | Updated the annual GASB Questionnaires. The online Questionnaires will open for entry on Jul. 1, 2025. |
| 06/02/2025 | Added GASB 102 requirements for Concentrations or Constraints in Note 17 – Risk Management. |
| 05/27/2025 | Updated the SEFA Timeline for initial certification |
| 05/16/2025 | Updated Step 8 – Notes to the Financial Statements, Note 17 – Risk Management to include GASB 102 guidance. as part of the Agency Fiscal Year-End Adjustments and AFR Checklist. |
| 05/16/2025 | Updated Step 8 – Notes to the Financial Statements, Note 1 – Summary of Significant Accounting Policies as part of the Agency Fiscal Year-End Adjustments and AFR Checklist. |
| 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. |