TFM: A calendar year-end entity is a federal entity that operates on a calendar year basis and is considered significant to the Financial Report of the United States Government (FR) if it has a non-federal line item or note disclosure that is greater than $3 billion, but is only required to have audit assurance on non-federal line items or note disclosures that contribute to the top 95% for liabilities and 99% for assets of the total FR line item data.