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Reporting Requirements for Annual Financial Reports of State Agencies and Universities

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Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Notes & Samples

NOTE 10 – Deferred Compensation (administering agencies only)

Administering agencies of deferred compensation plans must disclose the following information:

  • Description of deferred compensation plans offered
  • Estimated fair value of the aggregate deferred compensation plan assets if not displayed on the financial statements (GASB 31 and GASB 32).
    • Amount is the total assets, less receivables, less cash in state treasury.
    • Amount is equivalent to cash in bank plus investments. Plans referencing 401(k) and 403(b) are excluded from the scope of this note.

The Employees Retirement System (ERS) reports the deferred compensation plan’s balances and liability for the state, including:

  • Plan description
  • Legal basis for the plan
  • Provisions for plan balances
  • State’s liability

The University of Texas System administers its own deferred compensation plan and must disclose the same information as outlined above.

Submit a copy of the agency’s Note 10 from its published AFR through the ONDSS web application. The required format is a Microsoft Word document (latest version: docx) with header information that includes: agency name/number and note number/name. If Note 10 does not apply, do NOT submit a note to indicate “not applicable.”