BUDGETARY (CASH) BASIS

The minimum financial reporting requirements for monthly, quarterly, and annual financial statements prepared on a cash basis include:

• Combined Statements of Cash Receipts, Disbursements and Changes in Fund Balances for all funds of the State
• Combining Statements of Cash Receipts, Disbursements and Changes in Fund Balances for all funds of the State, by fund group
• Notes to the Financial Statements
• Combining Statements of Selected Departmental Disbursements
• HCRA Resources Fund – Statement of Cash Receipts and Disbursements by Account
• Summary of Local Assistance and Capital Projects Spending by Public Authorities
• Short Term Investment Pool: Report of Investment Yields, Portfolio Balances and Interest Earnings
• Schedule of Temporary Loans Outstanding
• State Fund Structure and List of Joint Custody Funds

Other supplemental information provided includes, but is not limited to:

• Governmental Funds
• Combined Statements of Cash Receipts, Disbursements and Changes in Fund Balances – Budget vs. Actual
• Detail schedules of Tax Receipts and Other Financing Sources, including ten year trend analysis
• Detail schedules of Receipts, Disbursements and Other Financing Sources, ten year trend analysis and graphic presentations
• Detail schedules and graphs on Local Assistance Grants, including by funding source and program
• Statements of Appropriation Transactions in Force by Fund Type and Business Unit
• Summary of Appropriated Loans Receivable for each fund group
• Detail schedules of State Debt Activity and Debt Outstanding
• Detail schedule on the Tax Stabilization Reserve Account
• Summary of Cash Advance Accounts by Business Unit

GAAP BASIS

The basic financial statements consist of the following:

• Statement of Net Position (reporting government-wide)
• Statement of Activities (reporting government-wide)
• Balance Sheet – Governmental Funds (emphasizing major funds)
• Reconciliation of the Balance Sheet – Governmental Funds to the Statement of Net Position
• Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds (emphasizing major funds)
• Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds to the Statement of Activities
• Statement of Net Position – Proprietary Funds (emphasizing major enterprise funds)
• Statement of Revenues, Expenses, and Changes in Fund Net Position – Proprietary Funds (emphasizing major enterprise funds)
• Statement of Cash Flows – Proprietary Funds (emphasizing major enterprise funds)
• Statement of Fiduciary Net Position – Fiduciary Funds
• Statement of Changes in Fiduciary Net Position – Fiduciary Funds
• Combining Statement of Net Position – Discretely Presented Component Units
• Combining Statement of Activities – Discretely Presented Component Units
• Notes to the Basic Financial Statements

The minimum financial reporting requirements for general purpose governments include management's discussion and analysis (MD&A), basic financial statements and required supplementary information.

MD&A, which is required supplementary information, should focus on the State and include a brief discussion of the basic financial statements. Information presented should support the analysis of financial position and results of operations.

Elements to be included in the discussion include:

• An analysis of balances and transactions of individual funds;
• An analysis of significant variations between original and final budget amounts and between final budget amounts and actual budget results for the general fund;
• A description of significant capital asset and long-term debt activity during the year;
• A discussion of the modified approach to report infrastructure assets; and
• A description of currently known facts, decisions, or conditions that are expected to have a significant effect on financial position or results of operations.

Guide to Financial Operations

REV. 02/23/2018