What is included in a combining financial statement?

Combining financial statements are used in governmental accounting to present financial information for multiple funds that are reported individually within the fund financial statements. These statements aggregate the financial results of non-major funds into a single presentation.

When determining what is included in a combining financial statement, it's important to understand that it generally encompasses non-major funds, not major funds. Therefore, while the question lists specific types of major funds, such as major special revenue funds, major capital projects funds, and major enterprise funds, these are not included in the combining financial statements as they are reported in their own separate columns within the financial reports.

The combining financial statement specifically focuses on non-major funds and offers a breakdown of their individual performance and position, which can be critical for managing those funds effectively while still aligning with the overarching financial reporting requirements. This is why the correct response reflects that none of the options listed are appropriate inclusions in a combining financial statement.