Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Resources

Definitions

A

AAL: Actuarial Accrued Liability
ABEST: See Automated Budget Evaluation System for Texas (ABEST).
ACFR Note Reporting & Certification (ANRC): The web application used to electronically verify submission and certification of all applicable note disclosures and correctness of USAS financial data to the Comptroller’s office during the AFR process.
Access Identification: See ACID.
Accounts Payable: Amounts owed for goods or services actually rendered or provided to the agency by Aug. 31, but for which the agency has not yet made payment.
Accounts Receivable: Amounts owed to the state from private persons or organizations for goods and services furnished.
Accumulated Depreciation: The amount of depreciation expense recognized for an asset, or class of assets, to date.
Accretion: The change in the price of a bond bought at a deep discount to the par value of the bond. Accretion can be thought of as the antonym of amortization.
Accrual Basis: The basis of accounting under which revenues are recorded when earned and expenditures (or expenses) are recorded as soon as they result in liabilities for benefits received, notwithstanding that the receipt of cash or the payment of cash may take place, in whole or in part, in another accounting period.
Accrue: To record revenues when earned and to record expenditures (or expenses) as soon as they result in liabilities for benefits received, even though the receipt or payment of cash may not take place, in whole or in part, until a subsequent fiscal year.
ACFR: See Annual Comprehensive Financial Report (ACFR).
ACID: Access Identification — A user’s seven-character (alpha/numeric) code used to access the Comptroller’s mainframe (including systems such as USAS, USPS, SPRS, etc.).
ACO: Appropriation Control Officer
Acquisition Value: The price that would be paid to acquire an asset with equivalent service potential in an orderly market transaction at the acquisition date, or the amount at which a liability could be liquidated with the counterparty at the acquisition date. See GASB 72, paragraph 79.
Actuarial Valuation Date: The period for which an actuarial valuation is performed.
ADA: See Americans with Disabilities Act.
ADR: American Depository Receipts
AE: Accounting Event
AFR: See Annual Financial Report (AFR).
Agency: Any agency, university or component unit that has an agency number.
Agency Fund: A fund consisting of resources received and held by the agency as an agent for others (for example, the child support employee deduction).
Aggregate: Formed or calculated by the combination of many separate units or items; total.
AGLA: Agency General Ledger Account
AICPA: American Institute of Certified Public Accountants
AJE: Adjustment Journal Entry
Allowance for Doubtful Accounts: Reflects the portion of a receivable account not expected to be collected. Report the calculation of the allowance for doubtful accounts on a reasonable, realistic and supported basis. The remaining balance is reflected as a reserve or net realizable value of the related receivable.
ALN: See Assistance Listing Number (ALN).
American Recovery and Reinvestment Act (ARRA): The American Recovery and Reinvestment Act of 2009 (ARRA) was enacted by the 111th United States Congress and signed into law by President Obama on Feb. 17, 2009. The Comptroller’s office established appropriated fund 0369, the Federal American Recovery and Reinvestment Fund, to track the federal stimulus.
Americans with Disabilities Act: The Americans with Disabilities Act of 1990 (ADA) was enacted by the U.S. Congress and signed into law on July 26, 1990 by President George H. W. Bush and later amended with changes effective Jan. 1, 2009. The ADA is a wide-ranging civil rights law that prohibits (under certain circumstances) discrimination based on disability. It affords similar protections against discrimination to Americans with disabilities as the Civil Rights Act of 1964, which made discrimination based on race, religion, sex, national origin and other characteristics illegal. Disability is defined by the ADA as “…a physical or mental impairment that substantially limits a major life activity.” The determination of whether any particular condition is considered a disability is made on a case-by-case basis. Certain specific conditions are excluded as disabilities (such as current substance abuse and visual impairment that is correctable by prescription lenses).
Amortization: Allocating in a systematic manner the cost of an intangible asset over its useful life.
Annual Financial Report (AFR): The financial report of the agency’s financial condition legislatively required to be submitted to the Texas Comptroller of Public Accounts.
Annual Comprehensive Financial Report (ACFR): A statewide financial report that encompasses all funds and component units of the state of Texas, prepared in conformance with Generally Accepted Accounting Principles (GAAP) and Governmental Accounting Standards (GASB) requirements.
Annual Required Contribution (ARC): The amount actuarially determined in accordance with the parameters of GASB 45. The ARC represents a level of funding that (if paid on an ongoing basis) is projected to cover normal costs each fiscal year and amortize any unfunded actuarial liabilities over a period of years, not to exceed 30 years.
APA: See Availability Payment Arrangements (APA).
APB: Accounting Principles Board
Appropriated Funds: Legal funds created in the state treasury that need appropriation authority for payment of expenditures. The authority to create such a legal fund is by order of the Legislature or by Comptroller policy based on legislative authority.
APS: Accounting Policy Statement
ARC: See Annual Required Contribution (ARC).
ARO: Asset Retirement Obligation
ARRA: See American Recovery and Reinvestment Act (ARRA).
Assets: Probable future economic benefits obtained or controlled by a particular agency as a result of past transactions or events.
Assets Held in Trust: Capital assets held by an agency on behalf of a non-state entity (such as art collections owned by families, estates and others) and that are under the temporary control of the agency.
Assistance Listing Number (ALN): A number assigned in the awarding document to most grants and cooperative agreements funded by the federal government. ALN replaced the Catalog of Federal Domestic Assistance (CFDA).
Automated Budget Evaluation System for Texas (ABEST): The Legislative Budget Board’s system for maintaining and evaluating the state’s appropriation budgets. ABEST produces reports used by agencies to reconcile expenditures posted in USAS to appropriation authority.
Availability Payment Arrangements (APA): Arrangements in which an agency compensates an operator for services that may include designing, constructing, financing, maintaining or operating an underlying nonfinancial asset for a period of time in an exchange or exchange-like transaction.
AY: Appropriation Year

B

BABs

Build America Bonds

Basic Financial Statements

Term used in GASB 34 to describe required government-wide financial statements, fund financial statements and notes to the financial statements.

Basis Conversion (BC)

Conversion of modified accrual to full accrual. Because governmental funds are required to be presented on two different bases of accounting, basis conversion entries are required to adjust from the modified accrual to the full accrual basis.

Basis conversion entries for capital assets (fund type 11), long-term liabilities (fund type 12) and revenue recognition (fund type 21) must be entered in USAS and reflected on the AFR.

Basis of Accounting

The standard (or standards) used to determine the point in time when assets, liabilities, revenues and expenses (expenditures) are measured and recorded as such in the accounts of an agency.

BC

See Basis Conversion (BC).

Benefit Replacement Pay (BRP)

Replaced a state benefit that paid 5.85 percent of the first $16,500 of the employee’s portion of social security wages plus an amount equal to the retirement contribution associated with the benefit.

Blended

The method of reporting the financial data of a component unit in a manner similar to the presentation of the primary government.

Bond Reporting System (BRS)

The web application used to electronically submit bonds-payable information to the Comptroller’s office during the AFR process. Each agency’s information in BRS is used to prepare bond tables and schedules in the ACFR.

BRP

See Benefit Replacement Pay (BRP).

BRS

See Bond Reporting System (BRS).

BT

Balance Type

BTA

See Business-Type Activity.

Build America Bonds (BABs)

Taxable municipal bonds that carry special tax credits and federal subsidies for either the bond issuer or the bond holder. The purpose of the program was to reduce the cost of borrowing for state and local government issuers and governmental agencies. The program expired on Dec. 31, 2010.

Business-Type Activity (BTA)

Commercial-type activities of a government that are financed in whole or in part by fees charged to external parties for goods or services. Business-type activities are usually reported in enterprise funds.

C

CAAB

Capital Asset/Asset Balance

CANSS

See Capital Assets Note Submission System (CANSS).

Capital Assets

Assets of a long-term character intended to continue to be held or used by the agency (such as land, improvements to land, easements, buildings, building improvements, vehicles, machinery, equipment, works of art and historical treasures, infrastructure and all other tangible or intangible assets used in operations), that have initial useful lives extending beyond a single reporting period and meet Comptroller capitalization thresholds.

Capital Assets Note Submission System (CANSS)

The web application used to electronically submit certain capital asset note disclosures information to the Comptroller’s office during the AFR process. CANSS ensures uniformity of these disclosures for the ACFR and automatically extracts USAS general ledger (GL) account balances for capital assets.

Capital Outlay

The purchase or construction of a capital asset that represents an exchange of an asset that can be spent (cash) for an asset that cannot be spent, thus resulting in a net decrease in current financial resources. This decrease is reported on the governmental fund operating statement.

Capital Projects Fund

A fund used to account for and report financial resources that are restricted, committed or assigned to expenditure for capital outlays (including the acquisition or construction of capital facilities and other capital assets). Capital projects funds exclude those types of capital-related outflows financed by proprietary funds or for assets that will be held in trust for individuals, private organizations or other governments.

Capitalization

Recognition of expenses is delayed by recording the expense as a long-term asset and then released over its useful life.

CARES Act

The Coronavirus Aid Relief Economic Security (CARES) Act is an economic stimulus bill enacted by the 116th United States Congress and signed by the President on March 27, 2020, to provide emergency assistance and health care response to individuals, families and businesses affected by the 2020 coronavirus pandemic. The Comptroller’s office established appropriated fund 0325 (the Coronavirus Relief Fund) to track federal economic stimulus funds.

Cash Basis

Basis of accounting that recognizes transactions or events when related cash amounts are received or disbursed.

Cash Equivalents

Short-term, highly liquid investments that are both readily convertible into known amounts of cash and so near their maturity that they present insignificant risk of changes in value due to changes in interest rates.

Cash in Bank (CIB)

Reflects the total bank balance held at a specific period in time.

Cash in State Treasury (CIST)

Reflects all funds held with the Comptroller’s Treasury Operations Division that does not include general revenue funds or reimbursements due on an agency’s books.

Cash Management Improvement Act (CMIA)

Provides general rules and procedures for the efficient transfer of funds for federal financial assistance programs between the federal government and states.

Cash Report

State of Texas Annual Cash Report (Cash Report) — a cash basis report for the state of Texas as required by statute. It is based on the activity of cash (GL 0045) in the state treasury. The Cash Report is prepared on a fiscal year basis with a hard cash close on Aug. 31 of each fiscal year.

Catalog of Federal Domestic Assistance (CFDA)

Now called Assistance Listing Number (ALN) on SAM.gov.

CFDA

See Catalog of Federal Domestic Assistance (CFDA).

Change in Net Position

The difference between assets plus deferred outflows of resources and liabilities plus deferred inflows of resources on the government-wide, proprietary and fiduciary fund statements.

CIB

See Cash in Bank (CIB).

CIG

See Comprehensive Implementation Guide (CIG).

CIP

See Construction in Progress (CIP).

CIST

See Cash in State Treasury (CIST).

CL

See Current Liabilities (CL).

CMIA

See Cash Management Improvement Act (CMIA).

CNP

See Change in Net Position.

ANRC

See ACFR Note Reporting & Certification (ANRC).

COBJ

See Comptroller Object Code (COBJ).

Collected Budget

Spending authority appropriated to the agency (via the General Appropriations Act or special legislation) requiring collections to fund the budgets (such as appropriated receipts or federal funds). Term used in contrast with committed budget.

Combined Financial Statement

A financial statement displaying in separate adjacent columns the combined financial data for various fund types and, if applicable, discretely presented component units.

Combining Financial Statement

A financial statement displaying, in separate adjacent columns, the financial data for each fund of a given fund type. The totals reported for the fund type must agree with those reported in the column for that fund type on the combined financial statements.

Committed Budget

Spending authority given to the agency (via the General Appropriations Act or special legislation) not required to be collected (such as general revenue). Term used in contrast with collected budget.

Component Unit

A legally separate organization for which the agency’s elected officials are financially accountable or an organization for which the nature and significance of its relationship with the state is such that exclusion would cause the agency’s reporting on its financial statements to be misleading.

Component Unit & Related Organizations (CURO)

The web application used to electronically submit component units and related organizations note disclosures to the Comptroller’s office during the AFR process.

Comprehensive Implementation Guide (CIG)

The annual Comprehensive Implementation Guide (CIG) is issued by GASB. GASB issues separate implementation guides that accompany major GASB standards — from which the guidance in all the separate guides is eventually combined and issued as the annual CIG.

Comptroller Object Code (COBJ)

COBJs record revenue and expenditure data for reporting purposes in USAS.

Conduit Debt Obligation

A debt instrument issued by a debt holder, in the name of a state agency (the issuer) to a specific third party (the third-party obligor), outside of the issuer’s financial reporting state agency, for the purpose of providing capital financing. The third party is primarily liable for the repayment of the debt instrument.

Contract Combinations

Contracts that are entered into at or near the same time and with the same counterparty are considered part of the same contract if:

The contracts are negotiated as a package with a single objective.
–OR–
The amount of consideration to be paid in one contract depends on the price or performance of another contract.

Contracts that Transfer Ownership

A contract that transfers ownership of the underlying asset to the lessee by the end of the contract and does not contain termination options.

Construction in Progress (CIP)

The economic construction activity status used for substantially incomplete assets.

Consumption Method

The method of recording inventory as it is purchased as an asset, and deferring the recognition of an expenditure until the fiscal year in which inventories are consumed.

Controlled Assets

Assets of the state identified by the Comptroller’s office that, due to the nature of the items, must be secured and tracked on the State Property Accounting (SPA) system.

Controlling Agency

The agency required to reconcile the entire cash activity for a fund and report the cash in state treasury balance on its annual financial report. The controlling agency can be determined by referring to the Comptroller Manual of Accounts or the report route agency listed on the USAS Appropriated Fund Profile (D22) screen. Term used in contrast with non-controlling agency.

CPE

Continuing Professional Education

Component Unit & Related Organizations (CURO)

The web application used to electronically submit component units and related organizations note disclosures to the Comptroller’s office during the AFR process.

CURO

See Component Unit & Related Organizations (CURO).

Current Assets

Assets that are available or can be made readily converted to cash to meet the cost of operations or to pay current liabilities within one year. Some examples are cash, temporary investments and taxes receivable that will be collected within one year.

Current Liabilities (CL)

Liabilities payable within a relatively short period of time, usually no longer than one year.

CY

Current Year

D

DAFR

See Detailed Accounting Financial Report (DAFR).

Data Universal Numbering System (DUNS)

Now called Unique Entity Identifier (UEI).

De Minimis Indirect Cost Rate (10%)

A rate that may be used by a non-federal agency that does not have a current federal negotiated indirect cost rate. The 10% de minimis indirect cost rate allows non-federal entities to recover allowable indirect costs, see Code of Federal Regulation, section 200.414(f).

Debt

According to GASB 88, for the purposes of disclosure in the notes to financial statements, debt is a liability that arises from a contractual obligation to pay cash (or other assets that may be used in lieu of cash) in one or more payments to settle an amount that is fixed at the date of the established contractual obligation.

Debt Service Fund

A fund used to account for and report financial resources that are restricted, committed or assigned to expenditure for principal and interest. Debt service funds are used to report resources if they are legally mandated. Financial resources that are accumulated for principal and interest maturing in future years are also reported in debt service funds.

Defeased Bonds

Bonds or loans removed from the borrower’s statement of net position (balance sheet) prior to stated maturity. The borrower sets aside cash and/or securities in an escrow account sufficient to service the defeased debt as it becomes due and payable.

Deferred Inflows of Resources

The acquisition of net assets by the agency that is applicable to a future fiscal year.

Deferred Outflows of Resources

The consumption of net assets by the agency that is applicable to a future fiscal year.

Deposit and Investment Note Submission System (DINSS)

The web application used to electronically submit certain GASB disclosures to the Comptroller’s office during the AFR process and ensure uniformity of these disclosures for the ACFR. DINSS automatically extracts USAS general ledger (GL) account balances for deposits and investments.

Depreciation

Allocating in a systematic manner the cost of a tangible capital asset over its useful life.

Derivative

Contracts whose value depends on, or derives from, the value of an underlying asset, reference rate or index.

Detailed Accounting Financial Report (DAFR)

The USAS reports used for financial reporting.

DINSS

See Deposit and Investment Note Submission System (DINSS).

Direct Costs

Costs specifically identified with a particular final cost objective (for example, a project/activity with a relatively high degree of accuracy).

Direct Strategy

A program implemented to help an agency achieve its goals and objectives. It is also the means of transforming inputs into outputs, and ultimately outcomes, with the best use of resources. Funding is appropriated at this level.

Discount Rate

A single blended rate that combines the long-term investment rate of return and municipal bond rate. The discount rate is used to calculate an employer’s total pension liability.

Disproportionate Share Program (DSP)

A Medicaid policy requiring states to consider the special needs of hospitals that serve disproportionate numbers of Medicaid or indigent patients when setting Medicaid payment rates.

DOD

United States Department of Defense

DSP

See Disproportionate Share Program (DSP).

Due From/To Other Agencies

Accruals of reimbursements, transfers, federal/state grant pass-throughs and shared funds that are owed to or from other state agencies.

Note: Do not net activity on one line.

DUNS

See Data Universal Numbering System (DUNS).

E

Early Retiree Reinsurance Program (ERRP): A program that provides reimbursement to participating employment-based plans for a portion of the costs of health benefits for early retirees and early retirees’ spouses, surviving spouses and dependents.
Earned Federal Funds: Moneys that are received in connection with a federal program and are not required to be spent in the federal program by the governing agreement. They become state funds and lose their federal identity. The authority for expenditure of earned federal funds is subject to state legislation rather than the federal government.
Economic Resources Measurement Focus: The measurement focus of accounting used by proprietary and fiduciary funds, as well as for government-wide financial reporting, that considers all the assets available for the purpose of providing goods and services. The economic resources measurement focus reports all inflows, outflows, and balances affecting or reflecting an agency’s net position. All assets and liabilities are accounted for, as well as all inflows and outflows of resources.
EIN: See Employer identification number (EIN).
Eligible Infrastructure Assets: Infrastructure assets that are part of a network or subsystem of a network.
Embedded Derivative Instrument: A derivative instrument that is an element of a hybrid instrument. A hybrid instrument consists of a companion instrument and an embedded derivative instrument. When separated, an embedded derivative instrument (such as an interest rate swap) is measured at fair value.
Employees’ Compensable Leave: Liabilities for the vacation and compensatory leave accrued by employees. The balance is reported on both the current and non-current liability section of the balance sheet or statement of net position.
Employer Identification Number (EIN): A unique nine-digit number that identifies a government agency, business and/or organization — even if the government agency, business and/or organization has no employees — formerly known as the Federal Employer Identification Number (FEIN).
Encumbrances: An account used to record the commitments for goods or services made before the end of the fiscal year where these goods or services were not received by the end of the fiscal year. Encumbrances must also be established for actual contracts awarded. Anticipated contracts or contracts under negotiation are not legal commitments and are not reported as encumbrances.
Enterprise Fund: Proprietary fund type used to report an activity for which a fee is charged for goods or services, primarily to customers outside the reporting agency (such as citizens).
ERRP: See Early Retiree Reinsurance Program (ERRP).
Exchange Transactions: Transactions in which each party receives direct tangible benefits commensurate with the resources provided (for example, sales between a buyer and a seller).
Exchange-Like Transactions: A transaction in which the values exchanged, though related, may not be quite equal or in which the direct benefits may not be exclusively for the parties to the transactions — unlike a pure exchange transaction.
Exchange or Exchange-Like Financial Guarantee: A grantor that issues a guarantee of an obligation to other governments, a legally separate agency, a blended or discretely-presented component unit, non-governmental entities or individuals — that guarantee requires the grantor to indemnify a third-party obligation holder (under specified conditions) in an exchange or exchange-like transaction.
Expenditures: Decreases in net financial resources under the current financial resources measurement focus not properly classified as other financing uses.
Expenses: Charges incurred, whether paid or unpaid, for operation, maintenance, interest and other charges presumed to benefit the current fiscal period.
External Investment Trust Fund: Fiduciary fund type used to report governmental external investment pools in separately issued reports and the external portion of these same pools when reported by the sponsoring government.
Extraordinary Items: Events and transactions distinguished by their unusual nature and by the infrequency of their occurrence.

F

FAC

See Federal Audit Clearinghouse (FAC).

Fair Labor Standards Act (FLSA)

Establishes minimum wage, overtime pay, recordkeeping, and youth employment standards affecting employees in the private sector and in federal, state and local governments.

Fair Value

The price at the measurement date that is either:

received to sell an asset
paid to transfer a liability

Fair value is a market-based measurement — not an entity-specific measurement. The objective of a fair value measurement is to determine the price at which an “orderly transaction” can occur to sell the asset or to transfer the liability under current market conditions. Fair value is an exit price at the measurement date from the perspective of a market participant that controls the asset or is obligated for the liability.

FASB

See Financial Accounting Standards Board (FASB).

FDIC

See Federal Deposit Insurance Corporation (FDIC).

FDTA

See Financial Data Transparency Act of 2022 (FDTA) (Public Law 117-263).

Federal Audit Clearinghouse (FAC)

Operates on behalf of the Office of Management and Budget (OMB) to establish, maintain, and distribute single audit results on related federal award information to federal agencies.

Federal Deposit Insurance Corporation (FDIC)

Federal corporation that insures up to $250,000 per deposit.

Federal Family Education Loan Program (FFELP)

Federally funded student loan program reported in SEFA.

Federal Funding Accountability and Transparency Act of 2006 (FFATA) (Public Law 109-282)

The U.S. Congress act that requires the Office of Management and Budget (OMB) to maintain a single searchable accessible website (the USAspending.gov) that discloses all entities and organizations receiving new federal contracts or grants. FFATA was amended in 2008 (Public Law 110-252), requiring recipients to self-report certain information as of Oct. 1, 2010.

Federal Pell Grant Program (PELL)

Federally funded student loan program reported in SEFA.

Federal Receivables

Funds expended or services performed for which federal contract and/or grant funds have not yet been collected during the current fiscal year. Funds expended and/or services performed for which non-federal contract and grant funds have not yet been collected are reported as accounts receivable. Grant awards not yet funded and for which the agency has not yet performed services are not considered assets to be accounted for on the financial statements.

Federal Savings and Loan Insurance Corporation (FSLIC)

Federal corporation that insures up to $250,000 per deposit.

Federal Supplemental Educational Opportunity Grants (FSEOG)

Student Financial Aid (SFA) Title IV funds include programs such as Pell and Federal Supplemental Educational Opportunity Grants (FSEOG).

FFATA

See Federal Funding Accountability and Transparency Act of 2006 (FFATA) (Public Law 109-282).

FFELP

See Federal Family Education Loan Program (FFELP).

FFS

See Fund Financial Statements (FFS).

Fiduciary Activities

Activities in which the government acts in a fiduciary capacity, either as an agent or trustee, for parties outside the government (for example, the collection of taxes or amounts bequeathed from private citizens, and assets held for employee pension plans).

Fiduciary Funds

Any fund held by a state agency in a fiduciary capacity for an external party, ordinarily as agent or trustee.

Financial Accounting Standards Board (FASB)

Authoritative accounting and financial reporting standard-setting body for business enterprises and nonprofit organizations.

Financial Data Transparency Act (FDTA) of 2022 (Public Law 117-263)

The U.S. Congress act that establishes data standards by requiring certain financial regulatory agencies (members) of the U.S. Financial Stability Oversight to adopt and apply uniform reporting categories. FDTA provides more transparency in government financial reporting.

Financial Resources Measurement Focus

Measurement focus used by governmental funds that accounts for the near-term (current) inflows, outflows and balances of expendable (spendable) financial resources. The governmental funds focus on the short run and generally do not include assets lasting more than one year (such as infrastructure) or liabilities that are not due and payable (such as bonds). This measurement focus is based on the concept of accountability. It includes measuring interperiod equity — whether current fiscal year revenues were sufficient to pay for current fiscal year services. It also considers the performance goals and measures of governmental-type activities, the intent and effect of budgets and other financial controls, and the use of fund accounting to achieve and demonstrate legal compliance and to enhance financial administration.

FLSA

See Fair Labor Standards Act (FLSA).

FPP

Fiscal Policies and Procedures

FRA

Full Reporting Agency

FRS

Financial Reporting section of the Comptroller’s office.

FSEOG

See Federal Supplemental Educational Opportunity Grants (FSEOG).

FSLIC

See Federal Savings and Loan Corporation (FSLIC).

FT

See Fund Type (FT).

Full Accrual Basis of Accounting

Method of accounting that recognizes the financial effect of transactions, events and interfund activities when they occur, regardless of the timing of related cash flows. Full accrual-basis accounting recognizes expenses, not expenditures. Expenses and revenues resulting from exchange and exchange-like transactions are recognized when the exchange takes place. Expenses and revenues resulting from non-exchange type transactions are recognized in accordance with requirements of GASB 33.

Fund Balance

The difference between:

governmental fund assets and deferred outflows of resources
–AND–
liabilities and deferred inflows of resources

Fund Financial Statements (FFS)

Basic financial statements presented on a funds basis that report more detailed information about the primary government. Term used in contrast with Government-wide Financial Statements.

Fund Type (FT)

A classification of funds that are similar in purpose and character.

Funds Held for Others

Funds held in a custodial nature but not belonging to the state.

Funds Held Locally

Funds held in a local bank account that can be either appropriated funds (funds that require appropriation authority to expend) or local funds (funds that do not need appropriation authority to expend).

FY

Fiscal Year

G

GAA

General Appropriations Act

GAAP

See Generally Accepted Accounting Principles (GAAP).

GASB

See Governmental Accounting Standards Board (GASB).

GCA

General Revenue Consolidated Agency

General Fund

A fund used to account for all transactions of a state agency that are not accounted for in another fund.

General Ledger Account

General ledger accounts record all financial transactions throughout the period.

General Obligation (GO) Bonds

A municipal bond backed by the full faith and credit and taxing power of the state — rather than the revenue from a given projection or revenue financing system. GO bonds are issued with the belief that the state has the ability to repay its debt obligations through taxation or surplus revenue from projects. Assets are not used as collateral.

General Revenues

All revenues are general revenues unless they are required to be reported as program revenues. All taxes are general revenues, even those levied for a specific purpose. The following types of revenue are classified as general revenues:

Revenues financed by parties outside the reporting government’s citizenry not restricted to be used for specific programs.
Revenues financed by the government’s taxpayers (from all taxpayers, regardless if they benefit from a particular program).
Revenues financed by the government itself (such as investment revenue, including earnings from endowments or permanent fund investments) that can be used to finance general fund programs.

Generally Accepted Accounting Principles (GAAP)

Conventions, rules and procedures that serve as the norm for the fair presentation of financial statements.

GIP

See Group Insurance Program (GIP).

GL

General Ledger

Government-wide Financial Statements (GWFS)

Financial statements that incorporate all of a government’s governmental and business-type activities, as well as its nonfiduciary component units. There are two basic government-wide statements: the statement of net position and the statement of activities. Government-wide financial statements are presented using the economic resources measurement focus and the full accrual basis of accounting. Term used in contrast with fund financial statements.

Governmental Accounting Standards Board (GASB)

The ultimate authoritative accounting and financial reporting standard-setting body for state and local governments.

Governmental Funds

A generic classification used by GASB to refer to all funds other than proprietary and fiduciary funds (such as, the general fund, special revenue funds, capital projects funds, debt service funds and permanent funds).

Group Insurance Program (GIP)

Group insurance managed by the Employees Retirement System of Texas for state employees and families, with the exception of the self-insured University of Texas System and Texas A&M University System.

GR

See General Revenues.

GR Reconciliation (GR Recon)

The web application used to electronically submit the general revenue certification to the Comptroller’s office during the AFR process. The General Revenue Certification for an agency represents the amount of budget the agency was given by the General Appropriations Act (GAA), riders, some additional payroll expenditures and other special legislation. On a statewide basis, the accuracy of this number is critical in order to reconcile appropriated fund 0001 for the ACFR.

GSO

GAAP Source/Object

GWFS

See Government-wide Financial Statements (GWFS).

H

HEAF: See Higher Education Assistance Fund (HEAF).
Health Professions Student Loans (HPSL): Federally funded student loan programs reported in SEFA.
Hedging Derivative Instrument: The derivative instrument used to mitigate financial risk against a hedgeable item. The hedging derivative instrument must be evaluated for effectiveness against financial risk.
Higher Education Assistance Fund (HEAF): The constitutional appropriation for acquiring land with or without permanent improvements; constructing and equipping buildings or other permanent improvements; major repair or rehabilitation of building; or other permanent improvements and acquisition of capital equipment, library books and library materials at the eligible institutions and agencies of higher education.
HPSL: See Health Professions Student Loans (HPSL).

I

IBOR

See Interbank Offering Rate (IBOR).

IDES

See Internet Data Entry System (IDES).

Incremental Borrowing Rate

The estimate of the interest rate that would be charged for borrowing the subscription payment amounts during the subscription term.

Indirect Costs

Costs incurred for "shared" or "joint" objectives that cannot be readily identified with any particular activity.

Interbank Offering Rate (IBOR)

The interest rate that banks in the same jurisdiction charge one another for short-term, interbank loans.

Internal Service Fund (ISF)

A fund established to finance and account for services and commodities furnished by a designated department or agency to other departments and agencies within a single governmental unit, or to other governmental units.

Internet Data Entry System (IDES)

The system used to submit the single audit reporting package to the Federal Audit Clearinghouse (FAC).

Investment

A security or other asset that a government:

Holds primarily for the purpose of income or profit
–AND–
Has a present service capacity based solely on its ability to generate cash or to be sold to generate cash.

See GASB 72.

Investment Derivative Instrument

A derivative instrument held for profit or income. Such as options, swaps, futures and forward contracts.

Investment Trade Payable

An account used to record a purchase of an investment pending the cash settlement.

Investment Trade Receivable

An account used to record a sale of an investment pending the cash settlement.

ISF

See Internal Service Fund (ISF).

ITV

Interagency Transaction Voucher

L

Lapsed Appropriations: This amount represents unexpended legislative appropriations according to the General Appropriations Act and from other special appropriations returned to the state. Current fiscal year appropriations normally should not be lapsed until the following fiscal year. This amount must agree with the appropriation activity in USAS (62 screen) as of Aug. 31 of each fiscal year. Lapses must not be backdated after Aug. 31, 20CY.
LBB: See Legislative Budget Board (LBB).
LEAP: See Leveraging Educational Assistance Partnership Program (LEAP).
Lease: A contract that conveys control of the right to use the lessor’s nonfinancial asset (the underlying asset) to the lessee as specified in the contract’s term limits in an exchange or exchange-like transaction.
Leasehold Improvements: Construction of new buildings or improvements made to existing structures by the lessee, who has the right to use these leasehold improvements over the term of the lease. These improvements will revert to the lessor at the expiration of the lease.
Lease Liability: The present value of payments expected to be made during the lease term.
Lease Note Submission System (LNSS): The web application used to electronically submit lease obligations to the Comptroller’s office during the AFR process.
Lease Receivable: The present value of lease payments expected to be received during the lease term, reduced by any provision for estimated uncollectible amounts.
Lease Term: The period during which a lessee has a noncancelable right to use an underlying asset.
Lease Leaseback Transaction: An asset is leased by one party (first party) to another party (second party) and then leased back to the first party. The leaseback may involve an additional asset (such as leasing a school building that has been constructed by a developer on land owned by and leased back to a school district) or only a portion of the original asset (such as leasing back only one floor of a building to the owner).
Legislative Appropriations: This amount represents the balance of an agency’s unexpended legislative appropriations authority on the balance sheet and the total spending authority received on the operating statement.
Legislative Budget Board (LBB): The permanent joint committee of the Texas Legislature that develops budget and policy recommendations for legislative appropriations for all agencies of state government. The LBB completes fiscal analyses for proposed legislation and conducts evaluations and reviews to identify and recommend changes that improve the efficiency and performance of state and local operations and finances.
Leveraging Educational Assistance Partnership Program (LEAP): Federally funded student loan program reported in SEFA.
Liability: Present obligation to sacrifice resources that the state has little or no discretion to avoid.
LIBOR: See London Interbank Offered Rate (LIBOR).
LNSS: See Lease Note Submission System (LNSS).
Loans and Contracts: Written contractual agreements containing an unconditional promise to pay a certain sum of money under terms specified in the contract or loan. Include any variable rate notes receivable that are not in substance bonds and all student loans in this account.
Local Funds: Legal funds created outside the state treasury (by order of the Legislature) that do not require appropriation authority for payment of expenditures. Local funds include funds profiled to appropriated fund number 9999 and local operating funds.
Local Operating Funds: Funds created in USAS at the request of agencies that need to use the USAS payment process to make expenditures associated with local funds. Funds from the local fund (outside the state treasury) can only be deposited into the state treasury local operating fund to the extent funds are needed for payment of expenditures.
London Interbank Offered Rate (LIBOR): The average interbank interest rate at which a selection of banks on the London money market are prepared to lend to one another. As of June 30, 2023, LIBOR is no longer an appropriate benchmark interest rate and has been replaced with Secured Overnight Financing Rate (SOFR).
Long-Term Liabilities: Liabilities with a maturity of more than one year after fiscal year-end.
Long-Term Liability Note (LTLN): The web application provides a user-friendly and intuitive method to electronically submit long-term liability note disclosures. LTLN ensures uniformity of these disclosures for ACFR Note 5 and automatically extracts USAS GL account balances for long-term liabilities.
LTLN: See Long-Term Liability Note (LTLN).

M

Major Funds: A governmental fund or enterprise fund reported as a separate column on the basic fund financial statements. Major funds are funds whose revenues, expenditures/expenses, assets or liabilities (excluding extraordinary items) are at least 10 percent of corresponding totals for all governmental or enterprise funds and at least 5 percent of the aggregate amount for all governmental and enterprise funds for the same item. Only agencies that require an outside audit opinion use major funds. Major funds for the state of Texas are only used at the ACFR level. If agency officials believe any other governmental or enterprise fund is particularly important, that fund may be reported as a major fund.
Management’s Discussion and Analysis (MD&A): Narrative information, in addition to the basic financial statements, in which management provides a brief, objective and easily readable analysis of the government’s financial performance for the fiscal year and its financial position at fiscal year-end. MD&A is required by GASB 34 for state and local governments to discuss the current fiscal year results in comparison with the prior fiscal year, with emphasis on the current fiscal year. The narrative must be a fact-based analysis discussing the positive and negative aspects of the comparison with the prior fiscal year. The analysis must focus on the primary government.
Master Lease Purchase Program (MLPP): A lease revenue financing program established in 1992, primarily to finance capital equipment acquisitions by state agencies.
MD&A: See Management’s Discussion and Analysis (MD&A).
Measurement Date: The date that pension liability and pension-related amounts are measured and reported in the financial statements.
Measurement Focus: Refers to what is expressed in reporting an agency’s financial performance and position. A particular measurement focus is accomplished by considering which resources are measured and when the effects of transactions and events involving those resources are recognized. When effects are recognized is referred to as the basis of accounting.
Measurement Period: The period between prior and current measurement dates.
MLPP: See Master Lease Purchase Program (MLPP).
Modified Accrual Basis of Accounting: Accrual accounting adapted or modified for governmental funds. Under the modified accrual basis of accounting, revenues are recognized in the fiscal year in which they are both measurable and available to finance operations of the fiscal year or liquidate liabilities existing at fiscal year-end. The state of Texas considers revenues to be available if the revenues are due at fiscal year-end and collected within 60 days thereafter. With a few exceptions, the modified accrual basis of accounting recognizes the expenditures when liabilities are incurred.

N

National Council of Governmental Accounting (NCGA)

Immediate predecessor of the Governmental Accounting Standards Board as the authoritative accounting and financial reporting standard setting body for state and local governments.

NCGA

See National Council of Governmental Accounting (NCGA).

Net Book Value

An asset’s historical cost less accumulated depreciation.

Net Pension Liability

The difference between total pension liability and the pension plan’s net assets that are used to pay benefit payments.

Net Position

On the statement of net position, the difference between:

assets
deferred outflows of resources
liabilities
deferred inflows of resources

Net position is displayed in three components:

net investment in capital assets
restricted
unrestricted

Network of Assets

Composed of all assets that provide a particular type of service for a government. For example, a network of infrastructure assets may be a dam composed of a concrete dam, a concrete spillway and a series of locks.

NHARP

Norman Hackerman Advanced Research Program (NHARP) is a competitive grant program whose purpose is to encourage and provide support to faculty members and students in Texas institutions of higher education to conduct basic research.

Non-Controlling Agency

The state agency authorized to spend money from a shared fund but is not the controlling agency. This agency does not report the shared cash in state treasury balance on its annual financial report. Term used in contrast with controlling agency.

Non-Exchange Transactions

Transactions in which the donor derives no direct tangible benefits from the recipient agency (for example, a contribution to or support for a government or not-for-profit organization).

Non-Federal Entity

Any state or local government, Indian tribe, university or non-profit organization that receives financial assistance from the government.

Non-Operating Expenses

Expenses incurred for the performance of activities not directly related to supplying the basic service by the state agency (for example the interest paid on outstanding revenue bonds).

Non-Reciprocal Interfund Activity

Includes transfers and reimbursements. Reimbursements are eliminated in the ACFR and therefore are not reported as interfund activity on the financial statements. Transfers are reported as the final item before change in net position.

Non-Recycled Loan Repayments

Loan repayments that are not applied back into the loan program but are put to other uses.

Non-State Entity (NSE)

A local government, non-profit organization or for-profit organization that receives financial assistance from a state agency.

Notes and Loans Payable

These liabilities result from issuing an interest-bearing certificate or making a loan to derive resources to finance acquisition of long-lived assets. Include any variable rate notes in this account.

Any debt instrument considered to be commercial paper or variable rate notes re-financed after less than one year are classified as notes and loans payable — not as bonds payable. These debt instruments are not considered long term in nature (for example, permanent university fund (PUF) variable rate notes).

Separate the debt instruments into current and non-current liabilities for presentation on the balance sheet or statement of net position.

Notional Amount

In derivatives, the number (such as current units, shares or bushels) to which an underlying is applied.

NSE

See Non-State Entity (NSE).

O

Obligations/Securities Lending: Under the securities lending program, an agency transfers securities to an independent broker or dealer in exchange for collateral in the form of cash, governmental securities or bank letters of credit. The obligation under securities lending represents a current liability for the collateral received on securities lending transactions and the securities lending collateral is recorded as a current asset on the balance sheet or statement of net position.
ONDSS: See Other Notes and Disclosures (ONDSS).
OPEB: See Other Postemployment Benefits (OPEB).
Operating Expense: Expenses incurred as a direct result of the nature of the activity being reported.
Operating Revenue: Revenues derived from the nature of the activity being reported (i.e., tax revenue or assessed fees).
Optional Retirement Program (ORP): A defined contribution pension plan in which participants select from a variety of investments offered by several insurance and investment companies through annuity contracts or mutual fund investments. Full-time faculty, librarians and certain professionals and administrators employed in public education are eligible to elect ORP in lieu of the Teacher Retirement System of Texas Plan before the 91st day after becoming eligible.
Orderly Transaction: A transaction that assumes exposure to the market for a period of time prior to the measurement date allowing for usual and customary marketing activities for transactions — not forced transactions (such as forced liquidation or distress sale). See GASB 72.
ORP: See Optional Retirement Program (ORP).
Other Contracts and Grants: This category includes contracts and grants received from city and county agencies, organizations or individuals.
Other Derivative Instruments: Derivative instruments that were intended to be a hedge but did not meet the definition of an investment derivative instrument or the definition of a hedging derivative instrument.
Other Financing Sources: A governmental fund operating statement classification in which financial inflows other than revenues are reported (such as proceeds of long-term capital-related debt and transfers-in).
Other Financing Uses: A governmental fund operating statement classification in which financial outflows other than expenditures (such as transfers-out) are reported.
Other Notes and Disclosures (ONDSS): The web application used to electronically submit note disclosures to the Comptroller’s office during the AFR process.
Other Postemployment Benefits (OPEB): Postemployment benefits other than pension benefits (such as life insurance and health care insurance).

P

Parity Issue

A parity debt (an issued debt [bond]) with equal rights to claim as other debt (bonds) already issued.

Payment Distribution Type (PDT)

Functions as the general payment instructions to USAS.

Payment Provisions

In derivatives, specifies a fixed or determinable settlement to be made if the underlying behaves in a specified manner.

PCA

See Program Cost Account (PCA).

PDT

See Payment Distribution Type (PDT).

Pension Trust Fund

A fiduciary fund type used to report resources that are required to be held in trust for the members and beneficiaries of defined benefit pension plans, defined contribution plans, other post-employment benefit plans or other employee benefit plans.

Permanent Fund

A fund used to report resources legally restricted to the extent that only earnings, and not principal, may be used to support the reporting agency’s programs — that is, for the benefit of the government or its citizenry.

Perpetual License

A software license that authorizes an individual to use a program indefinitely.

Personal Property

Fixed or movable tangible assets to be used for operations from which the benefits extend beyond one year from the date the asset was acquired and rendered into service. Capitalize as a betterment and record as an addition of value to the existing asset only if improvements or additions to existing personal property constitutes a capital outlay or increases the value or life of the asset by 25 percent of the original cost or life.

Petty Cash

A sum of money set aside to make change or pay small obligations for which issuing a formal voucher and check would be too expensive and time consuming.

PELL

See Federal Pell Grant Program (PELL).

PPP (Public-Public Partnership & Public-Private Partnership)

An arrangement in which a state agency (the transferor) contracts with an operator (governmental or nongovernmental entity) to provide public services by conveying control of the right to operate or use a nonfinancial asset for the contract’s term limits in an exchange or exchange-like transaction.

PPP Term

The period during which an operator has a noncancellable right to use an underlying PPP asset.

Prepaid Items

Long-term prepayments of expenses subject to amortization. Examples are the cost of issuing bonds and certain pension costs.

Preservation Costs

Costs that extend the useful life of an asset beyond its previously established useful life.

PRF

See Provider Relief Fund (PRF).

Primary Government

A state government or general-purpose local government. Also, a special-purpose government with a separately elected governing body that is legally separate and fiscally independent of other state or local governments.

Private Purpose Trust Fund

A fiduciary fund type used to report all trust arrangements (other than those properly reported in pension trust funds or investment trust funds) under which principal and income benefit individuals, private organizations or other governments.

Professional Fee Revenue

Revenues for colleges and universities derived from the fees charged by the professional staff at health institutions as part of the medical practice plans. These revenues are also identified as practice plan income. Examples of such fees include:

Doctor’s fees for clinic visits
Medical and dental procedures
Professional opinion and anatomical procedures (such as analysis of specimens after a surgical procedure, etc.)

Other revenues generated from non-professional fees and miscellaneous income are reported in the hospital sales of goods and services category. Some examples of these non-professional fees and miscellaneous incomes include:

Reimbursements for long distance charges
Collections for photocopy services
Lab fees
Computer services
Rental of microscopes

Program Cost Account (PCA)

A five-digit number in USAS that allows updates to the Strategic/Program Structure in order to track revenues and expenditures for agency goals, objectives and strategies — as well as administrative and support costs and other activity.

Program Revenue

A term used in connection with the government-wide statement of activities and defined as revenue provided by those who purchase, use or directly benefit from the goods or services of a program. Program revenues reduce the net cost of the function to be financed from the government’s general revenues.

The statement of activities separately reports three categories of program revenues:

Charges for services
Program-specific operating grants and contributions
Program-specific capital grants and contributions

The following types of revenue are classified as program revenues:

Revenues financed by those who purchase, use or directly benefit from the goods and services of the program. This group may extend beyond the boundaries of the reporting government’s taxpayers or citizenry or be a subset of it.
Revenues financed by parties outside the reporting government’s citizenry that are restricted to be used for specific programs. This group includes other governmental and nongovernmental entities or individuals.
Earnings on endowments or permanent fund investments that are restricted to programs specifically identified in the agreement or contract.

Proprietary Fund

Business-like or commercial-type funds of a state or local government (sometimes referred to as income determination).

Provider Relief Fund (PRF)

A fund established by the CARES Act to reimburse eligible health care providers, through grants or other mechanisms, for increased expenses or lost revenue that was attributable to the 2020 coronavirus pandemic.

Public-Private Partnership

A contract between a governmental entity and a nongovernmental entity. See PPP (Public-Public Partnership & Public-Private Partnership).

Public-Public Partnership

A contract between two governmental entities. See PPP (Public-Public Partnership & Public-Private Partnership).

PUF

Permanent University Fund

R

R&D

See Research and Development (R&D).

Recurring Transaction Index (RTI)

An identifier that tells USAS how to post the receiving transaction when funds are passed from one agency to another. The RTI is established by the receiving agency on the Recurring Transaction Profile (55) screen and is used to automate the receiving transaction on behalf of the receiving agency.

Reciprocal Interfund Activity

Includes loans and interfund services provided and used as sales and purchases of goods and services between funds for a price approximating their external exchange value. Report interfund services provided and used as revenues in seller funds, and expenditures or expenses in purchaser funds. Previously referred to as quasi-external transactions that would be treated as revenues, expenditures or expenses if they involved organizations external to state government.

Reference Rate

In derivatives, the rate to which a derivative instrument’s variable payment is linked. Common reference rates are LIBOR, the SIFMA swap index, the AAA general obligations index and the pricing point of a commodity.

Regulated Leases

Leases that are subject to external laws, regulations or legal rulings, according to GASB 87, paragraph 42. (For example, the U.S. Department of Transportation and the Federal Aviation Administration regulate aviation leases between airports and air carriers and other aeronautical users.)

Required Supplementary Information (RSI)

Information required under GASB to support the basic financial statements. Information includes the Management Discussion and Analysis, budgetary comparison schedules for governmental funds and information on infrastructure assets reported using the modified approach.

Research and Development (R&D)

All research activities (both basic and applied) and all development activities performed by a non-federal entity.

Residual Value

The estimated fair value of a capital asset — infrastructure or otherwise — remaining at the conclusion of its estimated useful life.

Restatement Note Submission System (RNSS)

The web application used to electronically submit certain restatement note disclosures to the Comptroller’s office during the AFR process.

Restricted Net Position

Assets that have constraints placed on their use. Those constraints are imposed by creditors, grantors, contributors or laws/regulations of other governments or through constitutional provisions or enabling legislation. The restricted net position consists of the restricted assets less:

liabilities
deferred inflows of resources

Right to Use Assets

A lessee’s right to use an asset over the life of a contract. The asset is calculated as:

the initial amount of the lease liability
+ (plus)
any lease payments made to the lessor before the lease commencement date
+ (plus)
any initial direct costs incurred
– (minus)
any lease incentives received

Right to Use Lease Income

See Lease Receivable.

Right to Use Lease Liability

See Lease Liability.

Right to Use Lease Receivable

See Lease Receivable.

Right to Use Subscription Liability

See Subscription Liability.

RNSS

See Restatement Note Submission System (RNSS).

RSI

See Required Supplementary Information (RSI).

RTI

See Recurring Transaction Index (RTI).

S

Sale Leaseback

Transactions that involve the sale of an underlying asset by the owner and a lease of the property back to the seller (original owner).

SAM

See System for Award Management (SAM).

SBITA

See Subscription-Based Information Technology Arrangements (SBITA).

SCA

See Service Concession Arrangements (SCA).

Schedule of Expenditures of Federal Awards (SEFA)

The web application used to report the federal financial assistance and federal cost-reimbursement contracts that non-federal entities receive directly from federal awarding agencies or indirectly from pass-through entities.

SECO

State Energy Conservation Office

Section 457 Accounts

A type of tax-advantaged retirement plan with deferred compensation. (IRC 457[b])

Secured Overnight Financing Rate (SOFR)

A benchmark interest rate for dollar-denominated derivatives and loans that replaced the London Interbank Offered Rate (LIBOR).

SEFA

See Schedule of Expenditures of Federal Awards (SEFA).

Service Concession Arrangements (SCA)

A PPP (Public-Public Partnership or Public-Private Partnership) in which:

The operator collects and is compensated by fees from third parties.
The transferor:
- Determines (or can modify or approve which services the operator is required to provide) to whom the operator is required to provide the services and the prices or rates that can be charged for the services.
  –AND–
- Is entitled to significant residual interest in the service utility of the underlying PPP asset at the end of the arrangement.

Shared Funds

Funds statutorily authorized for use by more than one state agency (such as the state highway fund [fund 0006] or the Texas collegiate license plate fund [fund 5015]). The controlling agency is the state agency that receives the major portion of the shared fund and is identified in the Comptroller Manual of Accounts or the Appropriated Fund (D22) profile in USAS in the REPORT ROUTE AGENCY field. The controlling agency is responsible for reporting the entire cash in state treasury balance of the fund on its report. Other balance sheet/statement of net position accounts must only reflect the accounts of the controlling agency. The cash in state treasury (CIST) balance on the non-controlling agency is reclassified as a due from other agencies. Non-controlling agencies report their own activities out of shared funds by reporting actual revenues and expenditures.

Short-Term Lease

A contract that (at the commencement of the contract term) has a maximum possible term of 12 months – including any options to extend, regardless of the probability of being exercised.

Short-Term Subscription-Based Information Technology Arrangements (SBITA)

A contract that (at the commencement of the contract term) has a maximum possible term of 12 months – including any options to extend, regardless of the probability of being exercised. See Subscription-Based Information Technology Arrangements (SBITA).

Single Audit

An organization-wide financial statement and federal awards audit of a non-federal entity that expends at least $750,000 in federal funds in one year. The audit is intended to provide assurance to the federal government that a non-federal entity has adequate internal controls in place and is generally in compliance with program requirements.

SLEAP

See Special Leveraging Educational Assistance Partnership Program (SLEAP).

Special Items

Significant transactions or other events within the control of management that are unusual in nature or infrequent in occurrence.

Special Leveraging Educational Assistance Partnership Program (SLEAP)

Federally funded student loan program reported in the SEFA web application.

SOCF

See Statement of Cash Flows (SOCF).

SOFR

See Secured Overnight Financing Rate (SOFR).

SPA

State Property Accounting

Special Revenue Fund

A governmental fund type used to account for and report the proceeds of specific revenue sources that are restricted or committed to expenditure for specified purposes other than debt service or capital projects.

SPTR

See State Pass-Through Reporting (SPTR).

State Grants and Contracts

This category includes grants and contracts received from state of Texas junior colleges and private universities and those of other states and cities.

State Pass-Through Reporting (SPTR)

The web application used to submit the state grant pass-through schedule and report state grant money passed between agencies. This generally occurs when an agency has an appropriation with the authority to grant that money to another agency and retains administrative responsibilities for that money.

State Pass-Through Grants from Other State Agencies and Universities

A state pass-through grant is applied for and received from another agency that had the appropriation with the authorization to grant it to other agencies. The agency received the funds based on meeting specific qualifications. The agency disbursing the grant did not receive any consideration or benefit in exchange for the funds. The disbursing agency records a state grant pass-through expenditure and the receiving agency records a state grant pass-through revenue. These grants include (but are not limited to) Norman Hackerman Advanced Research Program (NHARP), Advanced Research Program (ARP), Remedial Education Program, College Work Study Program and Scholarship Fund for Fifth Year Accounting Students Account received from the Texas Higher Education Coordinating Board (THECB).

Statement of Activities

A statement presenting the operations of the agency in a format that reports the net revenue (or expense) of its individual functions. It presents governmental activities at the level of detail required on the governmental fund statement of revenues, expenditures and changes in fund balances — at a minimum by function.

Statement of Cash Flows (SOCF)

The web application used for electronic submission of agency cash flow statements to the Comptroller’s office during the AFR process and ensures statewide uniformity of cash flow statement submissions.

Statement of Cash Flows

A statement explaining the change during the period in cash and cash equivalents regardless of restrictions on their use.

Statement of Net Position

A statement reporting the difference between (assets + deferred outflows of resources) – (liabilities + deferred inflows of resources) as net position.

Sublease

When the original lessee assigns the leased property to a third party and the original lease agreement remains in effect. It involves three parties, the:

Original lessor
Original lessee (who becomes the lessor in the sublease)
New lessee

Subscription-Based Information Technology Arrangements (SBITA)

A contract that conveys control of the right to use another party’s (a SBITA vendor’s) information technology (IT) software, alone or in combination with tangible capital assets (the underlying IT assets), as specified in the contract’s term limits in an exchange or exchange-like transaction.

Subscription Asset

The software and other information technology (IT) assets included in a SBITA contract.

Subscription Liability

The present value of all payments expected to be made during the subscription term of a SBITA.

Subscription Term

The period during which a subscription to a SBITA remains in effect for a user of a particular service, under the same terms and conditions.

Subsystem of a Network

A group composed of all the assets that make up a similar portion or segment of a network of assets. For example, all the roads of a government could be considered a network of infrastructure assets. Interstate highways, state highways and rural roads could each be considered a subsystem of that network.

Suspense Fund

A fund established to account separately for certain receipts pending the distribution or disposal thereof.

Sweep Accounts

Arrangements in which a bank automatically sweeps cash that exceeds the target balance into short-term cash investments.

System Clearing

GL accounts used on generic T-codes as the offsetting debit or credit. A balance in these accounts indicates that the GL is not in balance. For more information, see Procedures to Zero Out Balances in the System Clearing Accounts (GL 9999 and 9992) in the USAS Profile Review and Cleanup Procedures.

System for Award Management (SAM)

SAM.gov is the federal government’s official system to register or update a Unique Entity Identification number (UEI), search for Assistance Listing Numbers (ALN), and access public available federal award data.

T

TANF Program and Early High School Program: Programs such as the Temporary Assistance for Needy Families (TANF) Program and the Early High School Program received from the THECB are applied to tuition of qualified students. Any accruals at fiscal year-end must be reported as accounts receivable/accounts payable.
Total Pension Liability: The portion of the pension plan related to past periods of member services. This portion is reported as the actuarial present value of the projected benefit payments.
Transaction code (T-code): A three-digit number that defines the system requirements of the accounting event being recorded including the general ledger impact of the entry. For more information, see the USAS T-Code Reference Guide and Chapter 6 “Transaction Codes” of the USAS User’s Manual.
Transmittal Letter: A letter accompanying an annual financial report containing information on the report’s context that expresses more subjective information than the MD&A.
Tuition and Fees: This category covers all tuition and fees assessed against students (net of refunds) for educational and general purposes. Tuition and fee exemptions are assessed and reported as revenues even though there is no intention of collection from the student. The amount of such tuition exemptions will be offset as tuition and fee discounts and allowances, allowing the disclosure of net tuition and fees. Any residual is to be offset as scholarship and fellowship expenditures. This income category shall differentiate tuition and fee amounts pledged to revenue bond debt issues.
Tuition Rebates for Certain Undergraduates: A qualified student is eligible for the rebate of a portion of the undergraduate tuition the student has paid as prescribed in Texas Education Code, Section 54.0065.

U

UEI: See Unique Entity Identifier (UEI).
Unearned Revenue: On the governmental fund financial statements, revenue not expected to be collected within 60 days is not available to liquidate the liabilities of the current fiscal year and is reported as unearned revenue. Unearned revenue also includes cash or other assets received prior to being earned.
Unique Entity Identifier (UEI): A unique 12-character alphanumeric ID (assigned by SAM.gov) that is the official identifier for doing business with the federal government. Any agency that wants to apply for federal contracts or wants to receive federal funds must register with SAM. The UEI replaced the DUNS number as of April 4, 2022.
USAS: Uniform Statewide Accounting System
Useful Life: The amount of time an asset is expected to be in service. This timing varies and is based on the agency’s own experience and plans for the asset(s).
USPS: Uniform Statewide Payroll/Personnel System

Table of Contents

Definitions

A

B

C

D

E

F

G

H

I

L

M

N

O

P

R

S

T

U

References

Resources

Tools

Training/Work Sessions