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Bulletin from the Auditor of State's Office
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Auditor of State Bulletins
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Date Issued:
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Dec. 21, 2020
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To:
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All Public Offices
Independent Public Accountants
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From:
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Keith Faber Ohio Auditor of State
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Subject:
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Auditor of State (AOS) Regulatory Cash Basis Financial Reporting Framework – Fund Balance Classification Reporting Revisions
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About Bulletin 2020-008
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The purpose of this Bulletin is to communicate revisions to simplify the reporting of fund balance classifications in the AOS regulatory cash basis financial statements and footnotes.
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The revisions in this Bulletin supersede the AOS Bulletin 2011-004, Governmental Accounting Standards Board (GASB) Statement No. 54 – Fund Balance Reporting and Governmental Fund Type Definitions, requirements to report the fund balances on the face of the statements and amend the related footnote disclosures for non-GAAP mandated AOS regulatory cash basis financial statement presentations beginning with periods ended on December 31, 2020. However, the governmental fund type definition and the specific issues / additional information related to the AOS regulatory cash basis reporting framework in AOS Bulletin 2011-004 remain in effect.
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For two-year audits including periods ended on December 31, 2019, and 2020, the financial statements for the period ended December 31, 2019, will continue to report fund balances in accordance with AOS Bulletin 2011-004.
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If you have any questions regarding the information presented in the Bulletin, please contact the Center for Audit Excellence at the Auditor of State’s Office at (800) 282-0370.
See complete version of this bulletin here.
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