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Glenn Hegar  ·  Texas Comptroller of Public Accounts

Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Interfund Activity

Interfund Activity


GASB 34 established a classification system with terms and definitions for interfund activity and modified the requirements of NCGA Statement 1 for reporting transfers. Interfund activity replaced interfund transaction when referring to financial interaction between funds, including blended component units. Interfund transaction describes actions involving outside parties or a government’s discretely presented component units.

The following are considered interfund activity:

  • Activity between agencies
  • Activity between GAAP funds within the same agency
  • Activity within an appropriated fund if it occurs between agencies
  • Activity within an appropriated fund if it occurs between GAAP fund types
  • Activity between appropriated funds
  • Transfers to and from the state’s general revenue fund
Glenn Hegar
Texas Comptroller of Public Accounts
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