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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

Notes & Samples

NOTE 24 – Disaggregation of Receivable and Payable Balances

Balances of receivables and payables reported on the statements of net position and balance sheet may be aggregations of different components. GASB 38, paragraph 13, requires that governments provide details in the notes to the financial statements when significant components are obscured by aggregation. It further requires disclosure of significant receivable balances not expected to be collected within one year of the date of the financial statements.

The components of receivables and payables are disclosed on the statement of net position and/or balance sheets on the state of Texas ACFR. The government-wide statement of net position and the proprietary fund statement of net position are presented in the classified format. Therefore, the current and non-current portions of receivables and payables are disclosed separately on the face of the financial statements.

Two types of receivables — taxes receivable and federal receivable — have significant balances in the Texas ACFR and need separate disclosure of the current and non-current portions. When recording these types of receivables into USAS, use separate GL numbers for current vs. non-current balances. If your agency has significant balances in any other type of receivable, contact your financial reporting analyst.

Disclose components of current or non-current receivables or payables amounts recorded to USAS using the following GL accounts if the amounts are 5 percent or greater than the total current or non-current receivables or payables.

  • GL 0238 – Accounts Receivable – Other Revenues
  • GL 0270 – Current Other Receivables
  • GL 0467 – Non-Current Other Receivables
  • GL 1150 – Current Other Liabilities
  • GL 1450 – Non-Current Other Liabilities

Review current or non-current receivables or payables amounts with the following FMQuery–SIRS AFR Desk Review reports located in the Balance Sheet drop-down menu:

  • DR103 – Review Other Receivables (BS,SNA-8580)
  • DR105 – Review Other Payables (BS,SNA-8580)

Submit a copy of the agency’s Note 24 from its published AFR through the ONDSS web application. The required format is a Microsoft Word document (latest version: docx) with header information that includes: agency name/number and note number/name. If Note 24 contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. If Note 24 does not apply, do NOT submit a note to indicate “not applicable.”