10/18/23, 2:33 PM
Major Funds | Office of the Washington State Auditor
Signi²cance of that fund on ²nancing activities which are of
high interest to public.
Existence of known uses or users of that information (e.g.,
bond rating companies, investors, etc.).
Relative size (without regard to the
Accounting Standards Board (GASB) Statement 34
Year-to-year consistency in reporting, etc.
188.8.131.52 The general (current expense) fund is always reported as
a major fund. Major funds reporting only applies to governmental
and enterprise funds. It does not apply to internal service or
²duciary funds. The determination of which funds are major must
be made each ²scal year.
184.108.40.206 Governmental and enterprise funds are required to be
reported as major funds if they meet the following criteria:
Total assets plus deferred out³ows of resources, liabilities
plus deferred in³ows of resources, revenues, or
of that individual governmental
or enterprise fund are at least ten percent of the
corresponding element total (assets, liabilities, etc.) for all
funds of that category
governmental or total enterprise),
The same element that met the above ten percent intention
is at least ²ve percent of the corresponding element total for
all governmental and enterprise funds combined.
220.127.116.11 However, before using the spreadsheet remember:
1. They have to meet
of the criteria above to be required
to be reported as a major fund.
2. No elimination of interfund balances is necessary in order
to apply the criteria unless there are some signi²cant
amounts of interfund payables and receivables, then those
can be netted.
3. Total revenues means all revenues - both operating and
nonoperating revenues of enterprise funds, including