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Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Table of Contents

Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Notes & Samples

Notes to the Financial Statements

Introduction

The notes to the financial statements communicate information necessary for a fair presentation of financial position and results of operations that is not readily apparent from, or not included in, the financial statements themselves.

Requirements

Present each note in a separate Microsoft Word document — include the note number, note name, agency number and agency name as a header on each note.

Agencies must sequence notes by number/topic as indicated in the left navigation.

Each note includes a Sample. The Sample shows what is required for fair presentation in conformance with GAAP. The note samples include required formatting for certain disclosures. The disclosures within each note vary based on each agency’s situation.

Use the formatting provided (including the note number/topic sequence) as these schedules are critical to consolidating the notes to the statewide financial statements.

To reduce the number of disclosures in the agency’s report: