Statement 53 (reporting of derivatives)applies only to reporting at the government-wide level,not the fund-basis statements,for governmental-type funds.

Question

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Statement 53 specifically states that it applies to the government-wide financial statements, not the fund financial statements. It also notes that this applies to all types of funds, including governmental-type funds.

Statement 53 (Reporting of Derivatives)applies Only to Reporting at the Government-Wide