Appendix A
Table 1.1 Example of NCFS 53P comparison between GASB 34 and GASB 103 presentation
NC ACFR 53P - Statement of Revenues Expenses and Changes in Fund Net Position Report (RPT-RTR-113)
Ledger: NC ACCRUAL US
Agency: 9999-AGENCY
Accounting Period: 13_Jun-26
GASB Code: 25990G-ENTERPRISE FUNDS
Operating Revenues Section
Same caption indicates no change in classification.
| NEW - GASB 103 Presentation | OLD - GASB 34 Presentation |
|---|---|
| Sales and services, net | Sales and services, net |
| Student tuition & fees, net | Student tuition & fees, net |
| Patient services, net | Patient services, net |
| Employer contributions | Employer contributions |
| Federal appropriations | Federal appropriations |
| Federal grants & contracts | Federal grants & contracts |
| State & local grants and contracts | State & local grants and contracts |
| Nongovernmental grants & contracts | Nongovernmental grants & contracts |
| Interest earnings on loans (for entities with lending as the main ongoing operation) | Interest earnings on loans |
| Rental & lease earnings | Rental & lease earnings |
| Fees, licenses and fines | Fees, licenses and fines |
| Toll revenue | Toll revenue |
| Insurance premiums | Insurance premiums |
| 44440000-Lease income | (moves from nonoperating revenues section) |
| Miscellaneous* | Miscellaneous |
| Total Operating Revenues | Total Operating Revenues |
*Some subaccounts of ‘miscellaneous: miscellaneous non-operating revenues’ account caption under ‘other nonoperating revenues or expenses’ section move to ‘miscellaneous’ caption in this section.
Operating Expenses Section
Same caption indicates no change in classification.
| NEW - GASB 103 Presentation | OLD - GASB 34 Presentation |
|---|---|
| Personal services | Personal services |
| Unemployment benefits | Unemployment benefits |
| Supplies and materials | Supplies and materials |
| Services | Services |
| Lottery prize | Lottery prize |
| Claims | Claims |
| Cost of goods sold | Cost of goods sold |
| Depreciation | Depreciation |
| Insurance and bonding | Insurance and bonding |
| Refund of Contributions | Refund of Contributions |
| Scholarships and fellowships | Scholarships and fellowships |
| Other: Other fixed charges | Other: Other fixed charges |
| Other: Grants, state-aid & subsidies* | Other: Grants, state-aid & subsidies |
| Other: Other expenses** | Other: Other expenses |
| Total Operating Expenses | Total Operating Expenses |
*To be an operating expense, something must have been provided by the entity receiving the grants, state-aid or subsidy.
**Some subaccounts of ‘miscellaneous: miscellaneous non-operating expenses’ account caption under ‘other nonoperating revenues or expenses’ section move to ‘other: other expenses’ in ‘operating expenses’ section.
Operating Income or Loss
Total operating revenue section minus total operation expenses. No change in caption.
| NEW - GASB 103 Presentation | OLD - GASB 34 Presentation |
|---|---|
| Operating Income or Loss | Operating Income or Loss |
Noncapital Subsidies Section
| NEW - GASB 103 Presentation | OLD - GASB 34 Presentation |
|---|---|
| State appropriations | (moves from nonoperating revenues or expenses section) |
| State aid - General | (moves from nonoperating revenues or expenses section) |
| State aid - Program | (moves from nonoperating revenues or expenses section) |
| State aid - lottery proceeds | (moves from nonoperating revenues or expenses section) |
| Noncapital grants | (moves from nonoperating revenues or expenses section) |
| Noncapital gifts, net | (moves from nonoperating revenues or expenses section) |
| Noncapital contributions | (moves from nonoperating revenues or expenses section) |
| Grants, aid and subsidies | (moves from nonoperating revenues or expenses section) |
| Transfers in - noncapital | (moves from capital contributions and only noncapital portion) |
| Transfers out - noncapital | (moves from capital contributions and only noncapital portion) |
| University transfers | (moves from capital contributions) |
| Total Noncapital Subsidies | (Not exist in GASB 34) |
Operating Income and Loss and Noncapital Subsidies
Total operating revenues section minus total operating expenses section minus total noncapital subsidies section.
| NEW - GASB 103 Presentation | OLD - GASB 34 Presentation |
|---|---|
| Operating income and loss and noncapital subsidies | (Operating income and loss since there were no noncapital subsidies) |
Other Nonoperating Revenues or Expenses Section
Same caption indicates no change in classification.
| NEW - GASB 103 Presentation | OLD - GASB 34 Presentation |
|---|---|
| Investment earnings, net | Investment earnings, net |
| Federal interest subsidy on debt | Federal interest subsidy on debt |
| (move to operating revenue) | 44440000-lease income |
| 47128000- lease interest | 47128000-lease interest |
| Interest and fees | Interest and fees |
| Gain or loss from the sale of capital assets | Gain or Loss from the sale of capital assets |
| Gain or loss insubstance defeasance of debt | Gain or loss insubstance defeasance of debt |
| State capital aid | (move from capital contributions section after income or loss before transfers and other items) |
| Capital grants* | (move from capital contributions section after income or loss before transfers and other items) |
| Capital gifts, net | (move from capital contributions section after income or loss before transfers and other items) |
| Insurance recoveries | (this account was under nonoperating revenue or expenses section) |
| Additions to endowments | (move from capital contributions section after income or loss before transfers and other items) |
| Transfers in - Capital | (move from capital contributions section after income or loss before transfers and other items) |
| Transfers out - Capital | (move from capital contributions section after income or loss before transfers and other items) |
| (Some subaccounts go to ‘Gain or loss Sale of Property & Equipment’ account in this section. Others go to ‘miscellaneous’ account under operating revenue section.) | Miscellaneous: Miscellaneous non-operating revenues* |
| (Some subaccounts go to ‘Interest and Fees – Other debt service costs’ in this section. Others go to ‘other: other expenses’ account under operating expenses section.) | Miscellaneous: Miscellaneous non-operating expenses* |
| Total other nonoperating revenues or expenses | Total nonoperating revenues or expenses |
* Some subaccounts are rolled up to different captions in different sections.
Income or Loss Before Unusual or Infrequent Items
Total operating revenues section minus total operating expenses section minus total noncapital subsidies section minus total other nonoperating revenues or expenses. Change in caption.
| NEW - GASB 103 Presentation | OLD - GASB 34 Presentation |
|---|---|
| Income or loss before unusual or infrequent items | Income or loss before transfers and other items |
Capital Contributions
This section is moved to be under total other nonoperating revenues or expenses section. No change in caption except transfer in and transfer out.
| NEW - GASB 103 Presentation | OLD - GASB 34 Presentation |
|---|---|
| State capital aid | State capital aid |
| Capital grants | Capital grants |
| Capital gifts, net | Capital gifts, net |
| Insurance recoveries | Insurance recoveries |
| Additions to endowments | Additions to endowments |
| Transfers in - Capital | Transfers in (both capital and noncapital) |
| Transfers out - Capital | Transfers out (both capital and noncapital) |
Unusual or Infrequent Items Section
| NEW - GASB 103 Presentation | OLD - GASB 34 Presentation |
|---|---|
| Unusual or Infrequent gain | Special item gain or Extraordinary gain |
| Unusual or Infrequent loss | Special item loss or Extraordinary loss |
Change in Net Position
Total operating revenues section minus total operating expenses section minus total noncapital subsidies section minus total other nonoperating revenues or expenses minus unusual or infrequent items. No change in caption.
| NEW - GASB 103 Presentation | OLD - GASB 34 Presentation |
|---|---|
| Change in Net Position | Change in Net Position |
Ending Net position
Total operating revenues section minus total operating expenses section minus total noncapital subsidies section minus total other nonoperating revenues or expenses minus unusual or infrequent items plus change in net position plus beginning net position plus restatement. No change in caption.
| NEW - GASB 103 Presentation | OLD - GASB 34 Presentation |
|---|---|
| Net position – July 1, as previously stated | Net position – July 1, as previously stated |
| Restatement | Restatement |
| Net Position – June 30 | Net Position – June 30 |