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Glenn Hegar  ·  Texas Comptroller of Public Accounts

Reporting Requirements for Annual Financial Reports of State Agencies and Universities


Agency Year-End USAS Adjustments and AFR Checklist
Step 8 – Notes to the Financial Statements

Note 14 – Adjustments to Fund Balance/Net Position

  1. Note 14 is required if the agency has a restatement on the financial statements.
  2. Ensure the note clearly states the reason and amount for each restatement. This is extremely important for general revenue (fund 0001) restatements made for prior year appropriation activity.

    Note: This information is used in the formula for determining if the agency has correctly stated legislative appropriations on the financial statements.

  3. Ensure the restatement amount in USAS equals the restatement amounts in all of the applicable web applications.
Glenn Hegar
Texas Comptroller of Public Accounts
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