Term. The KFS provides a standard set of financial reports produced on a scheduled basis without initiation by the end user that may be used for monitoring account or RC conditions and progress throughout the year (for example, operating statements, balance sheets, and budget vs. actual comparisons). Included reports are Account Status, Account Transactions, Consolidated Account Status, Consolidated Object Codes and Trial Balance. Standard reports are produced from General Ledger and chart modules delivered with the KFS. It is up to each implementing institution to determine the best method for scheduling, running, viewing, and distributing these reports.