A statement of revenues, expenditures, and changes in fund balancesbudget and actual is:

• Required by GAAP for the General Fund, special revenue funds, and all other governmental fund types for which an annual budget has been adopted.

• Required by GAAP for internal management reports only; not permitted for external financial reporting.

• Required by GAAP for all governmental fund types.

• Optional under GAAP, as long as a budgetary comparison schedule is presented.