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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 19 – The Financial Reporting Entity
Component Units

If an agency has any blended or discretely presented component units (as discussed in Component Units in The Financial Reporting Entity), include the following information for all component units in Note 19:

  • A description of the component units of the reporting agency and their relationships to the primary government
  • A discussion of the criteria used for inclusion of the component units within the reporting agency
  • The method used to include the component units in the reporting agency (such as blended or discrete presentation)
  • Information about how to obtain the separate financial statements for the component units
  • The fund type and the appropriated fund(s) for each blended component unit
  • The fiscal year-end of each component unit