Governmental Financial Position Statement

A Governmental Financial Position Statement is a balance sheet statement for a governmental organization.

• AKA: Government's Statement of Net Assets.
• Context:
  • It can (typically) report on Governmental Assets Accounts and Governmental Liabilities Accounts.
  • It can (typically) not include an Owner's Equity component.
  • It can (often) be for a Governmental Fund Sub-Account.
  • …
• Example(s):
  • a New York City Statement of Net Assets Proprietary Funds December 31, 2002.
  • a City of Pocatello Statement of Net Assets September 30, 1011
    
  • a Statement of Net Assets for Proprietary Funds.
  • …
• Counter-Example(s):
  • a For-Profit Organization Balance Sheet.
  • a Governmental Income Statement (income statement).
  • a Governmental Cash Flow Statement (cash flow statement).
  • a Government's Financial Condition Assessment.
• See: Governmental Asset, Governmental Liability.

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References

2002

• https://osc.state.ny.us/localgov/pubs/releases/d1.htm
  • Sample City Statement of Net Assets Proprietary Funds December 31, 2002

2015

• http://www.gasb.org/jsp/GASB/GASBContent_C/UsersArticlePage&cid=1176156736184
  • QUOTE: The statement of net assets presents the same information as a balance sheet: It assesses the balance of a government’s assets — the resources it can use to provide service and operate the government — against its liabilities — its obligations to turn over resources to other organizations or individuals. The difference between a government’s assets and its liabilities is called net assets. The name of the statement reflects its emphasis on what a government would have left over after satisfying its liabilities. Net assets are an indicator of a government’s financial position — its financial standing at a given point in time (typically, the end of the fiscal year). Financial position can be tracked over time to assess whether a government’s financial health is improving or deteriorating.

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