Final answer:
Individual fund financial information is reported in separate columns of governmental and proprietary fund financial statements for only those funds that meet the GASB size-related criteria as major funds. The statement is true.
Step-by-step explanation:
The statement is true. Individual fund financial information is reported in separate columns of governmental and proprietary fund financial statements for only those funds that meet the GASB size-related criteria as major funds.
This is done to provide a clear and comprehensive view of the financial activity and performance of major funds within the organization.