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Reporting Requirements for Annual Financial Reports of State Agencies and Universities

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Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Introduction

Governmental Accounting Standards Board (GASB)
Current GASB Pronouncements

The state of Texas follows the requirements and guidelines provided in GASB pronouncements (statements, interpretations, technical bulletins and concepts statements). These pronouncements are available from GASB’s website in the following formats:

GASB Statements (effective for current year)

  • GASB Statement No. 100, Accounting Changes and Error Corrections
  • GASB Statement No. 99, Omnibus 2022
  • GASB Statement No. 98, The Annual Comprehensive Financial Report
  • GASB Statement No. 97, Certain Component Unit Criteria, and Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans—an amendment of GASB Statements No. 14 and No. 84, and a supersession of GASB Statement No. 32
  • GASB Statement No. 96, Subscription-Based Information Technology Arrangements (Amended by GASB 99)
  • GASB Statement No. 95, Postponement of the Effective Dates of Certain Authoritative Guidance
  • GASB Statement No. 94, Public-Private and Public-Public Partnerships and Availability Payment Arrangements (Amended by GASB 99)
  • GASB Statement No. 93, Replacement of Interbank Offered Rates (Amended by GASB 95 and 99)
  • GASB Statement No. 92, Omnibus 2020 (Amended by GASB 95)
  • GASB Statement No. 91, Conduit Debt Obligations (Amended by GASB 94 and 95)
  • GASB Statement No. 90, Majority Equity Interests — an amendment of GASB Statements No. 14 and No. 61 (Amended by GASB 95)
  • GASB Statement No. 89, Accounting for Interest Cost Incurred before the End of a Construction Period (Amended by GASB 95)
  • GASB Statement No. 88, Certain Disclosures Related to Debt, including Direct Borrowings and Direct Placements (Amended by GASB 95)
  • GASB Statement No. 87, Leases(Amended by GASB 91, 92, 94, 96 and 99)
  • GASB Statement No. 86, Certain Debt Extinguishment Issues
  • GASB Statement No. 85, Omnibus 2017
  • GASB Statement No. 84, Fiduciary Activities(Amended by GASB 92, 95 and 97)
  • GASB Statement No. 83, Certain Asset Retirement Obligations (Amended by GASB 95 and 97)
  • GASB Statement No. 82, Pension Issues — an amendment of GASB Statements No. 67, No. 68, and No. 73
  • GASB Statement No. 81, Irrevocable Split-Interest Agreements
  • GASB Statement No. 80, Blending Requirements for Certain Component Units — an amendment of GASB Statement No. 14
  • GASB Statement No. 79, Certain External Investment Pools and Pool Participants (Amended by GASB 91 and 100)
  • GASB Statement No. 78, Pensions Provided through Certain Multiple Employer Defined Benefit Pension Plans
  • GASB Statement No. 77, Tax Abatement Disclosures
  • GASB Statement No. 76, The Hierarchy of Generally Accepted Accounting Principles for State and Local Governments
  • GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions (Amended by GASB 85 and 101)
  • GASB Statement No. 74, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans (Amended by GASB 94, 85 and 101)
  • GASB Statement No. 73, Accounting and Financial Reporting for Pensions and Related Assets That Are Not within the Scope of GASB Statement 68, and Amendments to Certain Provisions of GASB Statements 67 and 68
  • GASB Statement No. 72, Fair Value Measurement and Application (Amended by GASB 99)
  • GASB Statement No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date — an amendment of GASB Statement No. 68
  • GASB Statement No. 70, Accounting and Financial Reporting for Nonexchange Financial Guarantees (Amended by GASB 91)
  • GASB Statement No. 69, Government Combinations and Disposals of Government Operations
  • GASB Statement No. 68, Accounting and Financial Reporting for Pensions — an amendment of GASB Statement No. 27
  • GASB Statement No. 67, Financial Reporting for Pension Plans — an amendment of GASB Statement No. 25
  • GASB Statement No. 66, Technical Corrections — 2012 — an amendment of GASB Statements No. 10 and No. 62
  • GASB Statement No. 65, Items Previously Reported as Assets and Liabilities
  • GASB Statement No. 64, Derivative Instruments: Application of Hedge Accounting Termination Provisions — an amendment of GASB Statement No. 53
  • GASB Statement No. 63, Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position
  • GASB Statement No. 62, Codification of Accounting and Financial Reporting Guidance Contained in Pre-November 30, 1989 FASB and AICPA Pronouncements(Amended by GASB 91, 93, 94, 96 and 99)
  • GASB Statement No. 61, The Financial Reporting Entity: Omnibus — an amendment of GASB Statements No. 14 and No. 34
  • GASB Statement No. 60, Accounting and Financial Reporting for Service Concession Arrangements (Superseded by GASB 94)
  • GASB Statement No. 59, Financial Instruments Omnibus
  • GASB Statement No. 58, Accounting and Financial Reporting for Chapter 9 Bankruptcies
  • GASB Statement No. 57, OPEB Measurements by Agent Employers and Agent Multiple-Employer Plans
  • GASB Statement No. 56, Codification of Accounting and Financial Reporting Guidance Contained in the AICPA Statements on Auditing Standards
  • GASB Statement No. 55, The Hierarchy of Generally Accepted Accounting Principles for State and Local Governments
  • GASB Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions
  • GASB Statement No. 53, Accounting and Financial Reporting for Derivative Instruments (Amended by GASB 93 and 99)
  • GASB Statement No. 52, Land and Other Real Estate Held as Investments by Endowments
  • GASB Statement No. 51, Accounting and Financial Reporting for Intangible Assets (Amened by GASB 96)
  • GASB Statement No. 50, Pension Disclosures — an amendment of GASB Statements No. 25 and No. 27 (Superseded)
  • GASB Statement No. 49, Accounting and Financial Reporting for Pollution Remediation Obligations
  • GASB Statement No. 48, Sales and Pledges of Receivables and Future Revenues and Intra-Entity Transfers of Assets and Future Revenues
  • GASB Statement No. 47, Accounting for Termination Benefits
  • GASB Statement No. 46, Net Assets Restricted by Enabling Legislation — an amendment of GASB Statement No. 34
  • GASB Statement No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions (Superseded)
  • GASB Statement No. 44, Economic Condition Reporting: The Statistical Section — an amendment of NCGA Statement 1
  • GASB Statement No. 43, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans (Superseded)
  • GASB Statement No. 42, Accounting and Financial Reporting for Impairment of Capital Assets and for Insurance Recoveries
  • GASB Statement No. 41, Budgetary Comparison Schedules — Perspective Differences — an amendment of GASB Statement No. 34
  • GASB Statement No. 40, Deposit and Investment Risk Disclosures — an amendment of GASB Statement No. 3 (Amended by GASB 93)
  • GASB Statement No. 39, Determining Whether Certain Organizations Are Component Units — an amendment of GASB Statement No. 14
  • GASB Statement No. 38, Certain Financial Statement Note Disclosures (Amened by GASB 94 and 96)
  • GASB Statement No. 37, Basic Financial Statements — and Management’s Discussion and Analysis — for State and Local Governments: Omnibus — an amendment of GASB Statements No. 21 and No. 34
  • GASB Statement No. 36, Recipient Reporting for Certain Shared Nonexchange Revenues — an amendment of GASB Statement No. 33
  • GASB Statement No. 35, Basic Financial Statements — and Management’s Discussion and Analysis — for Public Colleges and Universities — an amendment of GASB Statement No. 34
  • GASB Statement No. 34, Basic Financial Statements — and Management’s Discussion and Analysis — for State and Local Governments (Amended by GASB 96 and 99)
  • GASB Statement No. 33, Accounting and Financial Reporting for Nonexchange Transactions (Amended by GASB 99)
  • GASB Statement No. 32, Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans — a rescission of GASB Statement No. 2 and an amendment of GASB Statement No. 31 (Superseded by GASB 97)
  • GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and for External Investment Pools
  • GASB Statement No. 30, Risk Financing Omnibus — an amendment of GASB Statement No. 10 (Amended by GASB 99)
  • GASB Statement No. 29, The Use of Not-for-Profit Accounting and Financial Reporting Principles by Governmental Entities
  • GASB Statement No. 28, Accounting and Financial Reporting for Securities Lending Transactions
  • GASB Statement No. 27, Accounting for Pensions by State and Local Governmental Employers (Superseded)
  • GASB Statement No. 26, Financial Reporting for Postemployment Healthcare Plans Administered by Defined Benefit Pension Plans (Superseded)
  • GASB Statement No. 25, Financial Reporting for Defined Benefit Pension Plans and Note Disclosures for Defined Contribution Plans (Superseded)
  • GASB Statement No. 24, Accounting and Financial Reporting for Certain Grants and Other Financial Assistance (Amended by GASB 99)
  • GASB Statement No. 23, Accounting and Financial Reporting for Refundings of Debt Reported by Proprietary Activities
  • GASB Statement No. 22, Accounting for Taxpayer-Assessed Tax Revenues in Governmental Funds (Superseded)
  • GASB Statement No. 21, Accounting for Escheat Property
  • GASB Statement No. 20, Accounting and Financial Reporting for Proprietary Funds and Other Governmental Entities That Use Proprietary Fund Accounting (Superseded)
  • GASB Statement No. 19, Governmental College and University Omnibus Statement — an amendment of GASB Statements No. 10 and 15 (Superseded)
  • GASB Statement No. 18, Accounting for Municipal Solid Waste Landfill Closure and Postclosure Care Costs
  • GASB Statement No. 17, Measurement Focus and Basis of Accounting — Governmental Fund Operating Statements: Amendment of the Effective Dates of GASB Statement No. 11 and Related Statements — an amendment of GASB Statements No. 10, 11, and 13
  • GASB Statement No. 16, Accounting for Compensated Absences
  • GASB Statement No. 15, Governmental College and University Accounting and Financial Reporting Models (Superseded)
  • GASB Statement No. 14, The Financial Reporting Entity (Amended by GASB 97)
  • GASB Statement No. 13, Accounting for Operating Leases with Scheduled Rent Increases
  • GASB Statement No. 12, Disclosure of Information on Postemployment Benefits Other Than Pension Benefits by State and Local Governmental Employers (Superseded)
  • GASB Statement No. 11, Measurement Focus and Basis of Accounting — Governmental Fund Operating Statements (Superseded)
  • GASB Statement No. 10, Accounting and Financial Reporting for Risk Financing and Related Insurance Issues (Amended by GASB 99)
  • GASB Statement No. 9, Reporting Cash Flows of Proprietary and Nonexpendable Trust Funds and Governmental Entities That Use Proprietary Fund Accounting
  • GASB Statement No. 8, Applicability of FASB Statement No. 93, “Recognition of Depreciation by Not-for-Profit Organizations,” to Certain State and Local Governmental Entities (Superseded)
  • GASB Statement No. 7, Advance Refundings Resulting in Defeasance of Debt
  • GASB Statement No. 6, Accounting and Financial Reporting for Special Assessments
  • GASB Statement No. 5, Disclosure of Pension Information by Public Employee Retirement Systems and State and Local Governmental Employers (Superseded)
  • GASB Statement No. 4, Applicability of FASB Statement No. 87, “Employers’ Accounting for Pensions,” to State and Local Governmental Employers (Superseded)
  • GASB Statement No. 3, Deposits with Financial Institutions, Investments (including Repurchase Agreements), and Reverse Repurchase Agreements
  • GASB Statement No. 2, Financial Reporting of Deferred Compensation Plans Adopted under the Provisions of Internal Revenue Code Section 457 (Superseded)
  • GASB Statement No. 1, Authoritative Status of NCGA Pronouncements and AICPA Industry Audit Guide

GASB Interpretations

  • GASB Interpretation No. 6, Recognition and Measurement of Certain Liabilities and Expenditures in Governmental Fund Financial Statements — an interpretation of NCGA Statements 1, 4, and 5; NCGA Interpretation 8; and GASB Statements No. 10, 16, and 18 (Amended by GASB 83, 87 and 101)
  • GASB Interpretation No. 5, Property Tax Revenue Recognition in Governmental Funds — an interpretation of NCGA Statement 1 and an amendment of NCGA Interpretation 3
  • GASB Interpretation No. 4, Accounting and Financial Reporting for Capitalization Contributions to Public Entity Risk Pools — an interpretation of GASB Statements No. 10 and 14
  • GASB Interpretation No. 3, Financial Reporting for Reverse Repurchase Agreements — an interpretation of GASB Statement No. 3
  • GASB Interpretation No. 2, Disclosure of Conduit Debt Obligations — an interpretation of NCGA Statement 1 (Superseded by GASB 91)
  • GASB Interpretation No. 1, Demand Bonds Issued by State and Local Governmental Entities — an interpretation of NCGA Statement 1 and NCGA Interpretation 9 (Amended by GASB 99)

GASB Technical Bulletins

  • GASB Technical Bulletin No. 2020-1, Accounting and Financial Reporting Issues Related to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and Coronavirus Diseases
  • GASB Technical Bulletin No. 2008-1, Determining the Annual Required Contribution Adjustment for Postemployment Benefits (Superseded)
  • GASB Technical Bulletin No. 2006-1, Accounting and Financial Reporting by Employers and OPEB Plans for Payments from the Federal Government Pursuant to the Retiree Drug Subsidy Provisions of Medicare Part D
  • GASB Technical Bulletin No. 2004-2, Recognition of Pension and Other Postemployment Benefit Expenditures/Expense and Liabilities by Cost-Sharing Employers
  • GASB Technical Bulletin No. 2004-1, Tobacco Settlement Recognition and Financial Reporting Entity Issues
  • GASB Technical Bulletin No. 2003-1, Disclosure Requirements for Derivatives Not Reported at Fair Value on the Statement of Net Assets (Superseded)
  • GASB Technical Bulletin No. 2000-1, Disclosures about Year 2000 Issues — a rescission of GASB Technical Bulletins 98-1 and 99-1
  • GASB Technical Bulletin No. 99-1, Disclosures about Year 2000 Issues — an amendment of Technical Bulletin 98-1 (Superseded)
  • GASB Technical Bulletin No. 98-1, Disclosures about Year 2000 Issues (Superseded)
  • GASB Technical Bulletin No. 97-1, Classification of Deposits and Investments into Custodial Credit Risk Categories for Certain Bank Holding Company Transactions (Superseded)
  • GASB Technical Bulletin No. 96-1, Application of Certain Pension Disclosure Requirements for Employers Pending Implementation of GASB Statement 27 (Superseded)
  • GASB Technical Bulletin No. 94-1, Disclosures about Derivatives and Similar Debt and Investment Transactions (Superseded)
  • GASB Technical Bulletin No. 92-1, Display of Governmental College and University Compensated Absences Liabilities (Superseded)
  • GASB Technical Bulletin No. 87-1, Applying Paragraph 68 of GASB Statement 3 (Superseded)
  • GASB Technical Bulletin No. 84-1, Purpose and Scope of GASB Technical Bulletins and Procedures for Issuance

GASB Concepts Statements

  • GASB Concepts Statement No. 7, Communication Methods in General Purpose External Financial Reports That Contain Basic Financial Statements: Notes to Financial Statements –an amendment of GASB Concepts Statement No. 3
  • GASB Concepts Statement No. 6, Measurement of Elements of Financial Statements
  • GASB Concepts Statement No. 5, Service Efforts and Accomplishments Reporting — an amendment of GASB Concepts Statement No. 2
  • GASB Concepts Statement No. 4, Elements of Financial Statements
  • GASB Concepts Statement No. 3, Communication Methods in General Purpose External Financial Reports That Contain Basic Financial Statements
  • GASB Concepts Statement No. 2, Service Efforts and Accomplishments Reporting — as amended by GASB Concepts Statements No. 3 and 5
  • GASB Concepts Statement No. 2, Service Efforts and Accomplishments Reporting
  • GASB Concepts Statement No. 1, Objectives of Financial Reporting