Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Notes & Samples

NOTE 26 – Segment Information
Reporting Segment Information

Meet disclosure requirements for each segment by identifying the types of goods and services provided and by presenting condensed financial information in the notes, including the elements in A through C below.

1. Condensed statement of net position:
   • Total assets – distinguishing between current assets, capital assets and other assets; amounts receivable from other funds or component units are reported separately.
   • Total deferred outflows of resources – total consumption of net assets by the government that is applicable to future periods.
   • Total liabilities – distinguishing between current and long-term amounts; amounts payable to other funds or component units are reported separately.
   • Total deferred inflows of resources – total acquisition of net assets by the government that is applicable to future periods.
   • Total net position – distinguishing among restricted (separately reporting expendable and nonexpendable components), unrestricted and net investment in capital assets.

Current assets generally include cash, short-term investments, receivables, prepaid expenses and the current portion of long-term receivables. Current liabilities include accounts payable, short-term notes payable, unearned revenue and other liabilities expected to be paid out of current assets (for example, the current portion of long-term debt).

2. Condensed statement of revenue, expenses and changes in net position:
   • Operating revenues (by major source)
   • Operating expenses; depreciation (including any amortization) is reported separately
   • Operating income (loss)
   • Non-operating revenues (expenses) – with separate reporting of major revenues and expenses
   • Capital contributions and additions to permanent and term endowments
   • Special and extraordinary items
   • Transfers
   • Change in net position
   • Beginning net position
   • Ending net position
3. Condensed statement of cash flows:
   • Net cash provided (used) by operating activities
   • Net cash provided (used) by noncapital financing activities
   • Net cash provided (used) by capital and related financing activities
   • Net cash provided (used) by investing activities
   • Beginning cash and cash equivalent balances
   • Ending cash and cash equivalents balances