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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 27 – Service Concession Arrangements

Note Disclosure Requirements

These disclosure requirements are applicable to both transferors and governmental operators of Service Concession Arrangements (SCAs).

Provide a description of the arrangement in effect during the reporting period that includes:

  • Objectives of management to enter into to the arrangement
  • Status of the project during the construction period (if applicable)
  • Nature and amounts of assets, liabilities and deferred inflows of resources
  • Nature and extent of rights retained by the transferor or granted to the governmental operator

Multiple SCAs require a disclosure provided either:

  • Individually
  • In aggregate for arrangements involving similar facilities and risk

Include additional disclosures for arrangements with guarantees and commitments. For each period in which a guarantee or commitment exists, disclose the:

  • Identification
  • Duration
  • Significant contract terms

Guarantees and commitments exist if, for example:

  • The transferor is responsible for paying the debt of the operator in the event of a default
  • The arrangement includes a minimum revenue guarantee to the operator

Submit a copy of the agency’s Note 27 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 27 contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. If Note 27 does not apply, do not submit a note to indicate “not applicable.”

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