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Susan Combs•Texas Comptroller of Public Accounts

Reporting Requirements for Annual Financial Reports of State Agencies and Universities

General Accounting

Fund Balance/Net Position

Fund Balance

GASB 54 provides guidance on the acceptable instances for when and how negative (debit) balances may be reported for governmental funds. The general fund is the only fund that reports a positive unassigned fund balance amount. In general, if the total fund balance is negative (exclusive of any nonspendable amount), report the negative balance as unassigned. For more information, see Governmental Funds.

Net Position

No category of restricted net position can be a negative (debit) balance. If liabilities that relate to restricted assets exceed those assets, no balance is reported. The debit amount must be reported as a reduction of unrestricted net position. For more information, see Proprietary Funds.

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Susan Combs
Texas Comptroller of Public Accounts
Questions? Contact statewide.accounting@cpa.state.tx.us
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