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Glenn Hegar  ·  Texas Comptroller of Public Accounts

Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Notes & Samples

NOTE 1 – Summary of Significant Accounting Policies
Net Position and Fund Balances

The Net Position and Fund Balances section of Note 1 includes descriptions of the agency&s fund balance classification policies and procedures as required by GASB 54, paragraph 23c.

Report restricted and/or unrestricted resources used in governmental funds in the following order:

  • When both restricted and unrestricted resources are available for use, disclose:
    1. Restricted resources
    2. Unrestricted resources (as they are needed)
  • When only unrestricted resources are available for use, disclose:
    1. Committed resources
    2. Assigned resources
    3. Unassigned resources
Glenn Hegar
Texas Comptroller of Public Accounts
Questions? Contact statewide.accounting@cpa.texas.gov
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