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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 14 – Adjustments to Fund Balances and Net Position
Sample (Illustrative, may not tie to exhibits)

During fiscal 20CY, certain accounting changes and adjustments were made that required the restatement of fund balances or net position. The restatements are presented below.

Fund Balance and Net Position for CY

  General Funds
(Fund XXXX)
Special Revenue Funds
(Fund XXXX)
Permanent Funds
(Fund XXXX)
Enterprise Funds
(Fund XXXX)
Pension and Other Employee Benefit Trust Funds
(Fund XXXX)
External Investment Trust Funds
(Fund XXXX)
Total
Fund Bal/
Net Position
Sept. 1, 20PY
$ 291,830.52 $   86,592.46 $ 981,558.92 $ 3,215,604.31 $ 368,418.92 $ 166,139.92 $ 5,110,145.05
Current Year’s
Restatements
184,644.56 33,806.35 592.80 81.46 (119.86) (100,724.05) 118,281.26
Fund Bal/
Net Position
Sept. 1, 20PY
as Restated
$ 476,475.08 $ 120,398.81 $ 982,151.72 $ 3,215,685.77 $ 368,299.06 $   65,415.87 $ 5,228,426.31

Changes in Net Position for PY

  General Funds
(Fund XXXX)
Special Revenue Funds
(Fund XXXX)
Permanent Funds
(Fund XXXX)
Enterprise Funds
(Fund XXXX)
Pension and Other Employee Benefit Trust Funds
(Fund XXXX)
External Investment Trust Funds
(Fund XXXX)
Total
Change in
Net Position
Aug. 31, 20PY
$ 326,578.23 $   78,914.57 $ 742,164.89 $ 817,451.19 $ 62,587.14 $ 94,185.61 $ 2,121,881.63
Current Year’s
Restatements
184,644.56 33,806.35 592.80 81.46 (119.86) (100,724.05) 118,281.26
Change in
Net Position
Aug. 31, 20PY
as Restated
$ 511,222.79 $ 112,720.92 $ 742,757.69 $ 817,532.65 $  62,467.28 $ (6,538.44) $ 2,240,162.89

The restatement of $184,644.56 in the general funds is to correct prior year accrued expenditures related to the disaster portion of the federal Community Development Block Grant.

The restatement of $33,806.35 in the special revenue funds is to report the beginning balance of the Texas Wind Farm Association, a new blended component unit.

The restatement of $592.80 in the permanent funds and $81.46 in the enterprise funds is due to the corrections of accounting errors in the prior period.

The restatement of $(119.86) in the pension and other employee benefit trust funds and $(100,724.05) in the external investment trust funds is due to the implementation of GASB XX. Pursuant to the requirements in GASB XX, a restatement was required to properly report the fair value of investments.

Glenn Hegar
Texas Comptroller of Public Accounts
Questions? Contact statewide.accounting@cpa.texas.gov
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