The Ins and Outs of Government Fund Financial Statements
by Corey Arvizu, CPA, Managing Partner
Posted on June 2, 2017
This article originally appeared in the May 2017 School Business Affairs magazine and is reprinted with permission of the Association of School Business Officials International (ASBO). The text herein does not necessarily represent the views or policies of ASBO International, and use of this imprint does not imply any endorsement or recognition by ASBO International and its officers or affiliates.
Government fund financial statements may be the most widely issued financial statements by a school organization. One reason for their pervasiveness is that they most closely represent the manner in which school organizations operate, budget, and make fiscal decisions.
Because school business officials with responsibility for the various areas reported in the fund financial statements are often questioned about them, some insights into government fund financial statements can be helpful.
