Texas State University System Administration Annual Financial Report: 2014 Page: 16
This report is part of the collection entitled: Texas State Publications and was provided to The Portal to Texas History by the UNT Libraries Government Documents Department.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
Note 1 Continued
Securities Lending Collateral
Investments are stated at fair value in all funds except pension trust funds in
accordance with GASB Statement 31-Accounting and Financial Reporting for Certain
Investments and for External Investment Pools. For pension trust funds, investments
are required to be reported at fair value using the accrual basis
of accounting in accordance with GASB Statement 25 - Financial Reporting for
Defined Benefit Pension Plans and Note Disclosures for Defined Contribution Plans.
Securities lent are reported as assets on the balance sheet. The costs of securities
lending transactions are reported as expenditures or expenses in the Operating
Statement. These costs are reported at gross.
Restricted Assets
Restricted assets include monies or other resources restricted by legal or contractual
requirements. These assets include proceeds of enterprise fund general obligation and
revenue bonds and revenues set aside for statutory or contractual requirements.
Assets held in reserve for guaranteed student loan defaults are also included.
Inventories and Prepaid Items
Inventories include both merchandise inventories on hand for sale and consumable
inventories. Inventories are valued at cost, generally utilizing the last-in, first-out
method. The consumption method of accounting is used to account for inventories
and prepaid items that appear in the proprietary fund types. The cost of these items is
expensed when the items are consumed.
Capital Assets
Assets with an initial, individual cost of more than $5,000 and an estimated useful life
in excess of one year should be capitalized. These assets are capitalized at cost or, if
not purchased, at appraised fair value as of the date of acquisition. Depreciation is
reported on all "exhaustible" assets. "Inexhaustible" assets such as works of art and
historical treasures are not depreciated. Road and highway infrastructure is reported
on the modified basis. Assets are depreciated over the estimated useful life of the
asset using the straight -line method.
Current Receivables - Other
Other receivables include year-end revenue accruals not included in any other
receivable category.16
Upcoming Pages
Here’s what’s next.
Search Inside
This report can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Report.
Texas State University System. Texas State University System Administration Annual Financial Report: 2014, report, Autumn 2014; San Marcos, Texas. (https://texashistory.unt.edu/ark:/67531/metapth639688/m1/23/?rotate=270: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.