6481 FUND CONDITION STATEMENTS
(Revised 2/98)
The Fund Condition Statement presents the summary of the operations of a fund for the past, current and budget years. This statement is prepared for all special funds and special accounts within the General Fund. Fund Condition Statements are also prepared for other funds which are of special interest to the Legislature or the Administration. In those cases where a number of departments receive appropriations from one special fund, DOF will normally finalize the Fund Condition Statement.
The body of the statement should include the following information, as applicable, in the order indicated below:
- Beginning Balance.
- Prior Year Adjustments (normally consists of prior year expenditure and revenue adjustments and refunds to reverted appropriations for the past year actual only and is always zero for the current year and budget year).
- Balance, Adjusted.
- Revenues and Transfers.
- Revenues–Detail is typically provided by type of revenue.
- Transfers–Transfers (transfers to and transfers from other funds that are treated as a transfer of resources between funds).
- Totals, Revenue and Transfers.
- Totals, Resources.
- Expenditures.
- Detailed by department with a further breakdown by State Operations, Local Assistance, and Capital Outlay, as applicable.
- Legislative Claims (Board of Control and DOJ), Budget No. 9670. These expenditures, as applicable, are shown in the Fund Condition Statement. The program expenditures are shown in Budget No. 9670–“Equity Claims of BOC, and Settlements and Judgments in the DOJ” in the Governor's Budget.
- Totals, Disbursements.
- Expenditure Reductions: Transfers (transfers to other funds treated as expenditures or transfers from other funds treated as negative or minus expenditures).
- Totals, Expenditures (sum of Total, Disbursements and any Expenditure reductions, if applicable).
- Fund Balance.
- Reserve for economic uncertainties.
- Other reserves as appropriate–(E.G.–unencumbered balance of continuing appropriations) (printed in italics).
The Fund Condition Statement printed in the previous Governor's Budget should always be reviewed before preparation of the new statement. The starting fund balance for the past year must agree with the ending fund balance for the past year as shown in the previous Governor's Budget.
The department's year-end accounting reports should provide most of the information needed to prepare the past year portion of the Fund Condition Statement. However, when there are differences between budgeting and accounting treatment of transactions, the budgeting treatment of the transactions should generally be used.
