Reporting Requirements for Annual Financial Reports of State Agencies and Universities
Notes & Samples
NOTE 2 – Capital Assets
SPA Capital Assets Reports
The balance for all capitalized property as of Aug. 31, 20CY, must reconcile with the total property values in SPA. The agency’s AFR line items must tie to their SPA balances. Please contact your SPA analyst if your agency needs corrections to the SPA balances. If the balances do not tie, changes are made by the Financial Reporting section during ACFR preparation.
- Verify the property listed in SPA accurately reflects the agency’s inventory as of Aug. 31, 20CY.
- Refer to Daily Generation of SPA Ad Hoc Reports (FPP N.009) (login required), for information on the daily ad hoc reports available to agencies.
Note: Report capitalized (C) property on the AFR but not inventoried (I) property. Any transfer not completed by the receiving agency continues to be reflected in the sending agency’s balances. Unpaid TPFA leases are included in the SPA report.
The CAAB 101 and CAAB 201 reports can be helpful during the Note 2 process. These reports reflect SPA balances in Note 2 format.
For questions regarding State Property Accounting, contact your SPA analyst.