The BRS certification is due annually by:

• Oct. 1, 20CY — for GR consolidated agencies
• Nov. 1, 20CY — for unaudited agencies
• Nov. 20, 20CY — for unaudited institutions of higher education
• Dec. 1, 20CY — for audited full reporting agencies (including institutions of higher education)

Ensure proper security access exists as early in the process as possible. Contact your agency’s security coordinator to request BRS web application access for each agency number you are reporting.

Note: When requesting access from your security coordinator, ensure that you communicate the four-character Security Coordinator’s USAS Reference Code specific to this web application.

Gather all bond-related information for use in reporting agency bonds payable for 20CY.

Use your mouse or the Tab key to navigate the system. The Enter key causes the system to save a screen’s information if the screen is fully populated. If you press Enter and a screen is not adequately populated, the information will not be saved.

For bond issues previously reported, enter updated information in fields provided on data entry screens. For new bond issues, enter all applicable information.

Enter all principal and interest payments for new bond issues on the Principal and Interest screen. Edit this information for any changes to bond issues previously reported due to current year refundings and variable rate bond interest changes.

Once proper security access is established, you can access the BRS web application.

1. Enter your USER ID.

   Your User ID is the same as your ACID used to access the Comptroller’s mainframe and USAS.

2. Enter your PASSWORD.

   This is your USAS password.

3. Click Login to enter the BRS web application.

   If your BRS web application security access is denied and an error message displays, contact your agency’s security coordinator.

4. The Select Agency menu appears. From the drop-down menu, select the agency with the information you wish to view or edit and click Go. Once the agency is selected, you are able to add new bonds, display/edit existing bonds, upload a file, certify BRS and generate reports.

Follow these steps to add a new bond issue for the current fiscal year:

1. Click Add New Bond on the BRS home screen.
2. Follow the directions below (Sections 1, 2, 3 or 4) that are specific to sections and fields.
3. Enter all fields in all sections of the screen.

   Note: Enter amounts as dollars and cents (for example, enter $1,000,295.79 as $1,000,295.79).

4. Click Save New Bond. The application automatically links to the Principal and Interest screen.
5. Enter the principal and interest payments for the current fiscal year and for each of the remaining years of the bond issue’s life. This information must agree with the information contained in the bond issue’s amortization schedule.
6. When the principal and interest information is entered, check to see if there is an amount in the DIFFERENCE field.

   Note: If the totals for future years’ principal payments do not equal the BONDS OUTSTANDING field on the Add New Bond screen, an amount displays in the DIFFERENCE field. There should only be a difference to account for remaining accretion associated with discount bonds.

7. If the DIFFERENCE field displays an amount and it is due to accretion, select the Allow difference for accretion option.
8. Click Save Changes to process the bond issue’s information.

Section 1:
Fields with Special Instructions

Fiscal Year

BRS displays the current fiscal year.

Description of Issue

Enter the title, series and calendar year of the bond as contained in the official statement. Each bond is identified using the exact title, series and calendar year of the bond in all BRS reports requiring a description of the issue (for example, agency Y general obligation bonds, series 20CY). Avoid abbreviations (if possible).

Report GWFS as

Select the appropriate reporting category from the drop-down menu.

First Call Date

Enter the call date or select the First Call Date n/a option if there is no call date for the bond issue.

Bond Type

Select the appropriate bond type from the drop-down menu.

Bond Subtype

Select the appropriate bond subtype from the drop-down menu.

Low Interest Rate — Percent, not decimal and High Interest Rate — Percent, not decimal

Enter interest rates as a percentage, not a decimal. Round decimals to the fourth place (for example, enter 4.34568 percent as 4.3457). For variable-rate bonds, enter VAR and disclose the terms when the interest rates change in a footnote on Schedule A and in the SECTION ONE COMMENT field (such as, weekly, monthly, quarterly, yearly, etc.).

Scheduled Maturity First Year

Enter the appropriate calendar year in the SCHEDULED MATURITY FIRST YEAR field (for example, 2006).

Final Maturity Date

Enter the appropriate month, date and year in the FINAL MATURITY DATE field (for example, Aug 25 2030).

Bonds Issued to Date

This is a calculated field for the par value amount of bonds issued to date for each bond series comprised of original par value at time of bond issuance plus annual accretion amortization.

Unexpended Bond Proceeds (Year-End)

Enter the year-end cash balance — bond proceeds are not always expended in the same fiscal year as the fiscal year the debt was issued. With major construction projects continuing for multiple fiscal years to completion, a cash balance can remain for extended periods of time. In addition to arbitrage-related concerns, there is interest at the state and local levels regarding the consumption of these resources. This field is only used for agency reference and is not included in any BRS calculation and does not appear on any BRS schedule.

Project Payables (Year-End)

Enter the account payable, retainage payable or other payables at the reporting date that are to be paid from bond proceeds (if applicable). This field is only used for agency reference and is not included in any BRS calculation and does not appear on any BRS schedule.

Remaining Contract Balance (Year-End)

Enter the remaining claims to be paid from bond proceeds (if applicable). Construction and other related contracts may span multiple years. This information is necessary in order to identify uncommitted bond proceeds. This field is only used for agency reference and is not included in any BRS calculation and does not appear on any BRS schedule.

Total Expended Proceeds (Year-End)

Enter the cumulative cash expenditures from bond proceeds expended since the bond sale to current fiscal year-end. This includes prior fiscal year expenditures as well as any reimbursements for prior expenditures that were authorized in the bond documents. This field is only used for agency reference and is not included in any BRS calculation and does not appear on any BRS schedule.

Authorized Unissued Amount

Enter all authorized but unissued amounts reported as of fiscal year-end. This is primarily for general obligation bonds (having authorized set amounts of bond debt). If a partial bond sale was made prior to fiscal year-end for tuition revenue bonds with residual authority remaining, apply the disclosure to tuition revenue bonds in BRS (for example: authorized to sell $30,000,000; $20,000,000 sold; $10,000,000 authorized but unissued — with the latter amount for use in the Transparency Report). This field is only used for agency reference and is not included in any BRS calculation and does not appear on any BRS schedule.

Upload a File

To upload support files (such as note narrative in a Microsoft Word document [latest version: docx] and bond schedules in a Microsoft Excel document both files containing the header information [agency name/number and document title) to the BRS web application:

1. Click Upload a File.
2. Click Choose File to load the file directory.
3. Route to and select the file desired for upload.
4. Click Open.
5. Click Continue to upload the file. The SAVE required for file upload (section 1) message appears.
6. Click Save Changes. The application automatically links to the Principal and Interest screen.
7. Review that the information is correct and click Save Changes.

If Note 6 does not apply, do NOT submit a note to indicate “not applicable.” The BRS web application will not allow any file upload if the agency does not have a bond record.

Remove a File

To remove uploaded files to the BRS web application:

1. Click Remove File. The application automatically links to the Select file to attach to disclosure screen.
2. Click Remove File.
3. Click Continue. The SAVE required to Remove file (section 1) message appears.
4. Click Save Changes. The application automatically links to the Principal and Interest screen.
5. Review that the information is correct and click Save Changes.

Section One Comment (max 255 char)

Disclose additional information related to the various data fields in Section 1. The additional information collected (starting with fiscal 2013 for use in the Comptroller’s transparency reporting) may require information beyond that displayed in the various data fields.

Section 2:
Fields with Special Instructions

Bonds Outstanding Beginning

This auto-populated field is carried forward from prior year’s Bonds Outstanding balance. This is the beginning par value balance.

Bonds Issued

Enter current fiscal year bonds issued and accretion for deep discount bonds only. Examples of discount bonds include capital appreciation bonds, zero coupon bonds and limited interest mortgage obligation bonds. The entry made in the BOND ISSUED field is added to the Bonds Issued to Date calculation upon saving.

Bonds Matured or Retired

Enter only current fiscal year scheduled principal payments.

Bonds Defeased, Refunded or Extinguished

Enter the total of all actions for the fiscal year if there is more than one such action taken on a given bond issue during the fiscal year. If there is more than one such action, explain each action in the SECTION FOUR COMMENT field.

Par Value Adjustments

Enter par value restatements and other par value adjustments. The value entered in this field is included in the Bonds Outstanding calculation.

Bonds Outstanding

This is a calculated field which applies current year par value activity to Bonds Outstanding Beginning. This is the ending par value balance. The Bonds Outstanding field does not include non-par value restatement and other non-par value adjustment amounts from the Other Adjustments (current year) field.

Unamortized Premium, Unamortized Discount and Unamortized Accretion (current, prior and next year)

BRS has separate fields for current fiscal year, prior fiscal year (cannot be edited) and next fiscal year for each category. These balances are all used by BRS to calculate current fiscal year amortization and amounts due in one year. Verify the current fiscal year unamortized balance(s) at fiscal year-end and update as needed. Additionally, enter the ending balance of unamortized premium, unamortized discount and unamortized accretion for next fiscal year-end. Do not enter any balance(s) that were expensed in the fiscal year of issuance.

Deferred Inflow/Outflow of Resources on Refunding (current, prior and next year)

Enter the difference between the reacquisition price and the net carrying amount of the old debt in a refunding. This field was previously used to disclose gain or loss on refunding balances to be amortized. The unamortized balance increased or decreased the net bonds payable balance of the refunding bond issue.

GASB 65, paragraph 6, requires this amount to be classified as deferred inflows of resources and deferred outflows of resources. This information will continue to be collected as a means of identifying the interest expense offset from amortization of the balance each fiscal year but has been removed from the balance calculation of net bonds payable. This field is only used for agency reference and is not included in any BRS calculation and does not appear on any BRS schedule.

Other Adjustments (current year)

Enter non-par value restatement and other non-par value adjustment amounts. Do not enter amortization of premiums, discounts and accretion here. Amortization is calculated by the BRS web application from the unamortized balances entered elsewhere in Section 2.

Net Bonds Outstanding

This is a calculated field that applies Unamortized Premium (current year), Unamortized Discount (current year) and Other Adjustments (current year) to Bonds Outstanding.

Net Bonds Outstanding (prior year)

This auto-populated field is carried forward from prior year Net Bonds Outstanding field.

Issuance Costs

GASB 65, paragraph 15, eliminates the amortization of issuance costs, other than those for prepaid insurance, by requiring these to be expensed in the fiscal year the bond is issued. Prior to implementation of this requirement, it was recommended that issuance costs be reported as deferred charges (a noncurrent asset) if being amortized. Disclose any prepaid insurance to be amortized as a noncurrent asset, since “deferred” can no longer be used for assets or liabilities. This field is only used for agency reference and is not included in any BRS calculation and does not appear on any BRS schedule.

Section 3:
Fields with special instructions

Enter current fiscal year information related to partial or full defeasements, refundings, and/or extinguishments in this section. If there is more than one such action taken on a given bond issue during the fiscal year, enter the total of all actions in the fiscal year and explain each action in the SECTION FOUR COMMENT field.

Category

Select the appropriate category from the drop-down menu. If all dollar value fields in Section 3 are zero, the category must be None. If any dollar value field in Section 3 is not zero, the category must be something other than None. If category Cash Defeasance Only (GASB 86) is selected, any dollar value field in Section 3 is not zero, the category must be something other than None. If category Cash Defeasance Only (GASB 86) is selected, Non-Debt Cash to Defeased Bond Escrow and Gain/(Loss) from Cash Defeasance cannot be zero.

Year Refunded/Defeased

Enter the appropriate calendar year in the Year Refunded/Defeased field (for example, 2006).

Par Value Outstanding

Enter the par value of defeased bonds outstanding at fiscal year-end.

Cash Flow Difference

Enter the difference between the cash flows required to service the new debt in comparison to the old debt. This is the sum of all future interest and principal payments that would have been paid by the entity, less all future interest and principal payments to be paid for the new debt, plus any additional resources required (if any).

Economic Gain/(Loss)

Enter the difference between the present value of cash flow requirements of the old debt and the present value of the cash flow requirements of the new debt. If a loss occurs, provide an explanation of the reasons for the extinguishment (such as to remove prohibitive bond covenant restrictions) in a footnote on Schedule 2F and in the SECTION FOUR COMMENT field.

Refunding Issue Par Value

Enter the par value of the new debt issued to refund the old issue. If only a part of the new debt relates to the refunding, disclose only that part and disclose remainder in a footnote on Schedule 2F and in the SECTION FOUR COMMENT field.

Non-Debt Cash to Defeased Bond Escrow

Enter the amount of in substance defeasance of debt using only existing resources. Disclose the reasons for the defeasance, the substitution of essentially risk-free monetary assets with monetary assets that are not essentially risk-free in the period in which debt is defeased in substance (if applicable) in a footnote on Schedule 2F and in the SECTION FOUR COMMENT field. For more information, see Certain Debt Extinguishment Issues.

Amounts placed with escrow agent

Enter the amount cash and/or other resources placed with an escrow agent.

Cash flows required to service defeased debt

Enter the cash flows required to service the defeased debt.

Gain/(Loss) from Cash Defeasance

Enter amount of gain or loss from cash defeasance. If the reason for the defeasance is cost considerations, disclose the amount of interest savings in a footnote on Schedule 2F and in the SECTION FOUR COMMENT field.

Note: The yearly BRS carry forward creates a new bond with a new bond number assigned for use in future fiscal years to track the subsequent activity of the refunded/defeased bonds. The following statement is added in the SECTION FOUR COMMENT field to identify the reason for the new bond Bond spawned from bond #xxx for use in reporting defeased bonds outstanding at year-end to be paid from escrow.

Section 4:
Fields with special instructions

Enter information related to pledged revenue and related expenses/expenditures and capital outlay for all bond issues for which there is a specific revenue pledge.

Total Pledged and Other

Enter the amount of total pledged and other sources. One or more revenue sources are pledged to bond holders for repayment of bond principal and interest on the outstanding debt. The pledge may be a net pledge (remaining revenue after related operating expense is applied) or a gross pledge (entire revenue source is pledged). Other sources that are not pledged may be used to pay some or all debt service (Legislative Appropriation for Tuition Revenue Bonds).

Operating Expenditures and Capital Outlay

Enter the estimated operating expenses and capital outlay for revenue financing systems for which the pledge is a gross-revenue pledge in the SECTION FOUR COMMENTS field only.

Upload a File

A second upload of support files (such as note narrative in a Microsoft Word document [latest version: docx] and bond schedules in a Microsoft Excel document both files containing the header information [agency name/number and document title]) is allowed in this section. To upload support files to the BRS web application:

1. Click Upload a File.
2. Click Choose File to load the file directory.
3. Route to and select file desired for upload.
4. Click Open.
5. Click Continue to upload the file. The SAVE required for file upload (section 4) message appears.
6. Click Save Changes. The application automatically links to the Principal and Interest screen.
7. Review that the information is correct and click Save Changes.

If Note 6 does not apply, do NOT submit a note to indicate “not applicable.” The BRS web application will not allow any file upload if the agency does not have a bond record.

Remove a File

To remove uploaded files to the BRS web application:

1. Click Remove File. BRS routes users to the Select file to attach to disclosure screen.
2. Click Remove File.
3. Click Continue. The SAVE required to Remove file (section 4) message appears.
4. Click Save Changes. The application automatically links to the Principal and Interest screen.
5. Review that the information is correct and click Save Changes.

Section Four Comments (max 255 char)

Disclose any additional information related to this bond issue in this field, including any exceptions that the BRS web application does not address.

Follow these steps to edit an existing bond issue:

1. Click Display/Edit Bonds on the BRS home screen.
2. Click Edit for the bond you wish to edit.
3. Follow the directions in the Adding a New Bond Issue for the Current Year section above and select the section(s) and field(s) specific to edit desired on the existing bond (Sections 1, 2, 3 or 4).
4. Verify that all fields in all sections of the screen are correct. Make corrections as needed.

Note: Enter amounts as dollars and cents (for example, enter $1,000,295.79 as $1,000,295.79).

5. Click either Save Changes or Principal and Interest. The application automatically links to the Principal and Interest screen whether you click Save Changes or Principal and Interest.
6. Verify all BRS information is correct. Enter current fiscal year activity for each bond and correct the principal and interest payments for the current fiscal year and for each of the remaining years of the bond issue’s life for changes due to partial refundings and extinguishments or variable rate interest changes. Verify this information agrees with the information contained in the bond issue’s amortization schedule.
7. When the principal and interest information is entered, check to see if there is an amount in the DIFFERENCE field.

Note: If the totals for future years’ principal payments do not equal the BONDS OUTSTANDING field on the Edit an Existing Bond Issue screen, an amount displays in the DIFFERENCE field. There should only be a difference to account for remaining accretion associated with discount bonds.

8. If the DIFFERENCE field displays an amount and it is due to accretion, select the Allow difference for accretion option.
9. Click Save to process the bond issue’s information.

Closing the BRS Web Application

Once you enter all of your agency’s bond information and are satisfied the results agree with your agency’s AFR, the BRS must be certified. Once you certify, you are not allowed to enter new bonds or edit existing bonds for your agency.

Follow these steps to certify BRS:

1. Click Certify Bonds on the BRS home screen.
2. Click Certify on the Certify all Bonds for This Agency screen.
3. Print a copy of the Bond Certification Complete screen for your files.
4. If adjustments are necessary subsequent to agency certification, please contact your financial reporting analyst for assistance in reopening the BRS web application for the necessary updates.

Submit Note 6 and all bond schedules 2A–2F as uploaded files in the BRS web application.

Error Messages After Your Agency is Certified

If you attempt to add new bonds or edit existing bonds for your agency after certification, the BRS web application displays this error message: Agency XXX has been certified. New bond entry is not allowed.

You can generate the following BRS reports on your agency’s bonds once all current fiscal year activity is entered and saved in BRS.

• Schedule 2A — Miscellaneous Bond Information
• Schedule 2B — Changes in Bonded Indebtedness
• Schedule 2C — Debt Service Requirements
• Schedule 2D — Analysis of Funds Available for Debt Service
• Schedule 2E — Defeased Bonds Outstanding
• Schedule 2F — Early Extinguishment and Refunding
• Miscellaneous Reports:
  • Certified Bonds
  • Comments
  • All Comments and File Attachments
  • Transparency Report

Note: For information on what each schedule must contain, see the schedules in the left navigation menu for NOTE 6 – Bonded Indebtedness.

To generate reports on your agency’s bonds:

1. Click Generate Reports on the BRS home screen.
2. Select HTML or Excel for the report you wish to generate.

If you have questions about the BRS web application, contact your financial reporting analyst.