What is required to be provided in the title of individual fund budgetary comparisons when the budgetary basis differs from GAAP?

In situations where the budgetary basis differs from Generally Accepted Accounting Principles (GAAP), it is essential to provide a clear indication of the difference in the title of individual fund budgetary comparisons. This requirement ensures transparency and clarity for users of the financial statements, allowing them to understand the reason for the discrepancy between the budgetary figures and the GAAP-compliant figures.

By highlighting the difference, stakeholders can make informed decisions based on the context of the financial data being presented. Understanding these distinctions is critical, as it may affect budgetary decisions and performance evaluation. Therefore, including a clear indication of how the budget differs from GAAP is a best practice in financial reporting, enabling stakeholders to accurately interpret the financial information and its implications.