On September 30, 2015, the Texas Education Agency announced revisions to the format for the electronic audit system data feed for fiscal year 2015, and released guidance for financial statement presentation related to GASB 68, Accounting and Financial Reporting for Pensions. The changes to the audit system data feed involve Schedule L-1, which TEA uses to collect information for selected School Financial Integrity Rating System of Texas (FIRST) indicators. The guidance related to GASB 68 involve financial statement presentation for fiscal year 2015 by school districts and open-enrollment charter schools.
To read the TO THE ADMINISTRATOR ADDRESSED letter on this topic dated September 30, 2015, click on the link below.
http://tea.texas.gov/interiorpage_wide.aspx?id=25769823281