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Glenn Hegar  ·  Texas Comptroller of Public Accounts

Reporting Requirements for Annual Financial Reports of State Agencies and Universities

General Accounting

Loan Programs
Accounting For Loan Transactions

Do not report loans as expenditures — regardless of the fund type used. Likewise, do not report the repayment of loans as revenues. Instead, report both as balance sheet transactions. If an objective was to present information on loans provided and principal recovered, a proprietary fund type is desirable because of the cash flow statement.

When reporting noncurrent loans receivable in the general revenue fund, the noncurrent portion is reported as nonspendable fund balance. It is not appropriate to classify the noncurrent portion to unearned revenues. In other governmental funds, report noncurrent loans receivable as restricted, committed or assigned fund balance, as appropriate.

Glenn Hegar
Texas Comptroller of Public Accounts
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