The GASB defines a financial reporting entity as the primary government and the entities for which the primary government is financially accountable.
Required:
Following is a list of entities being considered for classification as primary governments, for each of the entities listed indicate Yes if the entity would be considered a primary government and No if it would not be considered a primary government.
1. Waseca County government.
a. Yes
b. No
2. University of South Florida, a part of the State University System of Florida
a. Yes
b. No
3. The Tri-County Independent School District, a legal entity, with an elected board and financial Independence.
a. Yes
b. No
4. The State of Colorado.
a. Yes
b. No
5. Greenfeild Sports Authority, a joint venture between Greenfield County and Mighty Ducks Sports franchise.
a. Yes
b. No
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