Fiscal Year Memo 2026-25: Fiscal Year 2026 Statutory Receivable Instructions
All departments must review their revenue sources for potential Fiscal Year 2026 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.
A statutory receivable is defined as a receivable that meets the following three conditions:
- receivable is due from a governmental entity
- receivable is related to goods or services provided on or before June 30
- receivable is collected between July 1 and August 31
All Chief Fiscal Officers (CFO) are asked to report their Fiscal Year 2026 receivables via Workiva at this link. Your spreadsheet will be available after July 22. Departments are asked to sign off on each line of statutory receivable for each fund/sub fund/revenue source/unit provided on your department’s spreadsheet. If a fund/sub fund/revenue source/unit is not listed but should be reported, please email [email protected]. All CFOs and GAAP Liaisons should have access to Workiva. If other department personnel need access to transmit the preliminary estimates and final balances, please email [email protected].
Preliminary Estimate – Due July 31, 2026
Final Report – Due August 28, 2026