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Fiscal Year Memo #2025-26: Fiscal Year 2025 Statutory Receivable Instructions

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The purpose of this memo is to provide instructions for reporting Fiscal Year 2025 statutory receivables. A statutory receivable is defined as a receivable that meets the following three conditions:

All departments must review their revenue sources for potential Fiscal Year 2025 statutory receivables and report any such receivables.

Accurate reporting of receivables by departments is essential. Statutory receivables are a component of the balance sheet in the Commonwealth’s annual Statutory Basis Financial Report.  Failure to report receivables or to report them correctly could result in inaccurate financial reports.

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