Lithuania updates fund financial-statement standard

Lithuania's Finance Minister amended the 26th public-sector accounting and financial reporting standard, "Fondų finansinių ataskaitų rinkinys". Order No. 1K-302 of 5 October 2026E TAR changes order No. 1K-357E TAR of 7 December 2007, which approved the standard governing funds' financial-statement sets.

Fund accounting must be kept separate from the accounting of the fund's administrator, valdytojas or tvarkytojas.E TAR Only the fund's assets, liabilities, financing amounts, net assets, revenue and expenses directly linked to the fund's operating objectives go into the fund's financial statements.E TAR The order extends the same administrator–manager–custodian trio to the standard's scope clause for preparing their statement sets.E TAR

Long-term financial assets include loans granted from fund resourcesE TAR, including deferred receivables administered by the fund's administrator, managed by its valdytojas or handled by its tvarkytojasE TAR. Within amounts receivable within one year, tax loans administered by a tax-fund administrator — deferred short-term receivables or the current-year portion of long-term receivablesE TAR — stay out of the granted-loans lineE TAR: in a tax fund's statement of financial position they appear in the "Suteiktos mokestinės paskolos" lineE TAR, whose amount feeds the "Gautini mokesčiai" line of the state and national statementsE TAR. Tax-revenue and social-contribution lines follow the 9th VSAFAS "Mokesčių, socialinių įmokų ir kitų įmokų į fondus pajamos"E TAR, and receivable compulsory health-insurance contributions follow the same standardE TAR.

Several presentation rules are restated. Long- and short-term liability measurement, recording and presentation follow the 17th VSAFAS "Finansinis turtas ir finansiniai įsipareigojimai", with the 19th VSAFAS on leases relevant to PSDF group sets where the PSDF manager holds leasesE TAR. Amounts payable for fund administration, collection and transfer sit in the "Mokėtinos sumos už fondo administravimą" line and rank as other short-term liabilities in group, state, municipal and national setsE TAR. Where fund rules provide for a reserve, the "Rezervai" line shows the amount accumulated in the dedicated account plus the amount transferable for the current period, split in the net-assets change statement into reserve created and reserve usedE TAR; the PSDF budget reserve keeps its own lineE TAR. Confiscated-asset revenue appears in a tax fund's performance statement when the asset passes into state ownership or is soldE TAR, and in the state treasury's statement when soldE TAR.

Funds assign every financing amount received and transferred, whatever its purpose, to operating cash flows in the cash-flow statementE TAR, which itself follows the 5th VSAFAS "Pinigų srautų ataskaita" unless the standard says otherwiseE TAR. The annex forms are conformedE TAR: the balance-sheet short-term asset and liability blocks, the social-contribution and tax-revenue performance linesE TAR — including VMI-administered compulsory health-insurance contributionsE TAR and, under social-contribution lines, Russian Federation transfers for the healthcare of Russian military pensioners resident in LithuaniaE TAR — the net-assets change statement with the PSDF budget reserve columnE TAR, and a new split of fund administration versus other expensesE TAR. The order applies to statement sets for reporting periods starting on 1 January 2026 or later.E TAR Legal basis: order No. 1K-302, amending order No. 1K-357 and the 26th VSAFAS.E TAR