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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 16 – Subsequent Events
Sample (Illustrative, may not tie to exhibits)

Sample Agency issued the following bonds:

Bonds and Commercial Paper Issued/Refunded Subsequent to Aug. 31,20CY.
Bond Issuance Series Amount Date of Issuance Purpose
Revenue Bonds 20CY 1,100,000 10/01/CY Fund construction of new student fitness center

Other Subsequent Events

As a result of its duties, Sample Agency was aware of a potential settlement in progress during fiscal 20CY and has subsequently made a payment to a claimant/plaintiff for settlements and judgements in October 20CY in the amount of $10 million.

Sample Agency also has $2 million in restricted funds under Federal ALN XX.XXX that were received as part of a federal award that are unspent and will be returned to the federal government in fiscal 20XX.