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Glenn Hegar  ·  Texas Comptroller of Public Accounts

Reporting Requirements for Annual Financial Reports of State Agencies and Universities

General Accounting

The Financial Reporting Entity
Related Organizations

Related organizations, as defined by GASB 14, paragraph 68, are organizations for which the primary government is accountable because the primary government appoints a voting majority of the board, but is not financially accountable because the relationship does not meet the financial accountability criterion. The financial activities of related organizations are not included in the financial statements of the primary government.

For information on note disclosure requirements for related organizations, see Related Organizations in Note 19 — The Financial Reporting Entity. Also, a copy of GASB 14 may be purchased from the GASB store or a PDF version may be downloaded from the Pronouncement’s page of GASB’s website.

Glenn Hegar
Texas Comptroller of Public Accounts
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