To record the operating transfers of fines, penalties, and forfeitures for the LEAs. Universities and other component units should NOT use this transfer account; this account is for use by the primary government agencies only. For monthly reporting, the account is reported with other 58xxxxxx transfers-out on the BD701 report. However, beginning in fiscal year 2011, for year-end GAAP financial reporting, instead of being combined with other transfers-out, account 58030000 will roll with the “Fees, licenses and fines” revenue caption. This is to reflect the fund reclassification of civil fines and penalties transactions to Agency Fund transactions on GAAP basis. This is brought about by the implementation of GASB 54 effective for fiscal year 2011.