Texas Board of Professional Engineers Annual Financial Report: 2015 Page: -9-
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UNAUDITED
TEXAS BOARD OF PROFESSIONAL ENGINEERS (460)
Fund Balance/Net Assets:
"Fund balance" is the difference between assets plus deferred outflows of resources and liabilities plus deferred
inflows of resources on the governmental fund statements. "Net position" is the difference between assets plus
deferred outflows of resources and liabilities plus deferred inflows of resources on the government-wide,
proprietary and fiduciary fund statements.
Reservations of Fund Balance
Fund balances for governmental funds are classified as either reserved or unreserved in the fund financial
statements. Reservations are legally restricted to a specific future use or not available for expenditure.
Committed
Amounts that can only be used for specific purposes pursuant to constraints imposed by formal action of the
state's highest level of decision-making authority (the Legislature) are reported as committed fund balance.
Those committed amounts cannot be used for any other purpose unless the Legislature removes or changes
the specified use by taking the same type of action it employed to previously commit those amounts.
Nonspendable for Inventory
Ending nonspendable amount of inventory balance.
Invested in Capital Assets, Net Of Related Debt
Invested in capital assets, net of related debt consists of capital assets, net of accumulated depreciation and
reduced by outstanding balances for bond, notes, and other debt that are attributed to the acquisition,
construction, or improvement of those assets.
Unrestricted Net Position
Unrestricted net position consists of net resources that do not meet the definition of the two preceding
categories. Unrestricted net position often has constraints on resources that are imposed by management but
can be removed or modified.
Interfund Transactions and Balances
The agency has the following types of transactions among funds:
(1) Transfers: Legally required transfers that are reported when incurred as "Transfers In" by the recipient fund
and as "Transfers Out"'by the disbursing fund.
The composition of the agency's Interfund activities and balances are presented in Note 12.-9-
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Texas. Board of Professional Engineers. Texas Board of Professional Engineers Annual Financial Report: 2015, report, 2015; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth838388/m1/25/: accessed July 10, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.