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Glenn Hegar  ·  Texas Comptroller of Public Accounts

Reporting Requirements for Annual Financial Reports of State Agencies and Universities

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

Note 18 – Management’s Discussion and Analysis

  1. Disclose that material changes in net position, revenues and expenses, etc. (if any).
  2. Include descriptions of currently known facts, conditions or decisions that could affect the availability of fund resources.
  3. Include descriptions of significant capital asset and long-term liability activity including:
    • Commitments made for capital expenditures
    • Changes in credit ratings and debt limitations that may affect financing of planned activities
  4. Submit a copy of the agency’s applicable note from its published AFR through the ONDSS web application. The required format is a Microsoft Word document (latest version: docx) with header information that includes: agency name/number and note number/name. If the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do not submit a note to indicate “not applicable.”
Glenn Hegar
Texas Comptroller of Public Accounts
Questions? Contact statewide.accounting@cpa.texas.gov
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