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The Determine Major Funds Report will use total assets, liabilities, revenues, and expenditures/expenses for each governmental and enterprise fund to generate a report showing whether each fund meets the requirements for mandatory reporting as a major fund. Running this report will not change any major fund flag settings. Those flags can be changed by using the maintain fund codes option in the set-up menu. Management can designate major fund reporting for a fund that does not meet mandatory major fund requirements.
In accordance with GASB guidance, the governmental fund revenues and expenditures do not include other financing sources and uses or extraordinary items, but do include special items. The enterprise fund revenues and expenses include operating and non-operating revenues and expenses, gains and losses, capital contributions, additions to permanent endowments, and special items, but do not include extraordinary items.
When the Determine Major Funds Report option is selected from the setup page the following page is displayed:
Choose the desired report format and click on the Submit button.