Which funds require a separate column on the Statement of Net Position?

Major Enterprise Funds require a separate column on the Statement of Net Position because they are considered significant enough to warrant individual reporting due to their size or financial importance within the overall governmental financial statements. These funds are used to report activities where a government provides goods or services to the public for a fee that is intended to cover the costs of providing those goods or services. By displaying Major Enterprise Funds separately, it gives users of financial statements clearer insights into the financial position and operating results of these funds compared to other funds. This requirement is part of governmental accounting standards aimed at enhancing transparency and accountability in financial reporting.

In contrast, while Special Revenue Funds, Debt Service Funds, and the General Fund play important roles in governmental accounting, they do not meet the criteria that necessitate a separate column for reporting on the Statement of Net Position, as they are typically grouped in a way that reflects their overall impact rather than highlighting specific major components.