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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 – Public-Private and Public-Public Partnerships

Note Disclosure Requirements

These disclosure requirements are applicable to transferors of Public-Private and Public-Public Partnerships (PPPs) — including Service Concession Arrangements (SCAs) and Availability Payment Arrangements (APAs).

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

  • General description of the PPP arrangement
  • Basis, terms and conditions on which any variable payments are determined (not included in the measurement of the receivable for installment payments)
  • Status of the project during the construction period (if applicable)
  • Discount rate or rates applied to the measurement of the receivable for installment payments (if any)
  • Amount of inflows of resources recognized in the reporting period for variable and other payments not previously included in the measurement of the receivable for installment payments — this includes inflows of resources related to residual value guarantees and termination penalties
  • Nature and amounts of assets and deferred inflows of resources
  • Nature and extent of rights retained by the transferor or granted to the operator

PPPs are separated into three types. The underlying PPP asset is either:

  • Owned by the transferor and the underlying PPP asset will be improved by the operator
  • A new asset purchased or constructed by the operator and the PPP either:
    • Meets the definition of an SCA
    • Does not meet the definition of an SCA

Include additional disclosures for PPP arrangements with guarantees and commitments by disclosing the:

  • Identification
  • Duration
  • Significant contract terms

For more information, see Public-Private and Public-Public Partnerships under Specialized Accounting.

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.”