A county Tax Agency Funds GAAP financial statements do not report the taxes receivable for the countys

Question:

A county Tax Agency Fund’s do not report the taxes receivable for the county’s various funds. Why?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...