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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

References

Submission Requirements

Agencies are designated as either GR consolidated reporting agencies or full reporting agencies.

GR consolidated agencies produce AFRs reporting smaller dollar amounts and less complex fund structures. GR consolidated agencies may report a small amount of federal funding.

Full reporting agencies produce AFRs reporting larger dollar amounts and more complex fund structures such as proprietary funds, which require the submission of a statement of cash flows. Full reporting agencies also may report larger amounts of federal funding. Discretely presented component units are classified as full reporting agencies but are not required to submit a statement of cash flows. All full reporting agencies must submit a Full Reporting Agency Fluctuation Analysis Package.

Do not send confidential information to the Financial Reporting section.

All state agencies (including institutions of higher education) are required to:

  • Be reconciled and in agreement with USAS by comptroller general ledger account for the balance sheet and statement of net position (DAFR8580 and DAFR8585).
  • Be reconciled and in agreement with USAS by GAAP source/object for the operating statement (DAFR8590, DAFR8600 and DAFR8605).
  • Format all applicable notes in a Microsoft Word document (latest version: docx) with each note in a separate document — include the note number, note name, agency number and agency name as a header on each note.
    • Upload each note to the ONDSS web application of applicable web application. If a note contains a table, include the table in the Word document, rather than as a separate Excel or other database application file.

      Note: Screen prints from the applicable web application will not be accepted in lieu of the required copy from the agency’s published AFR.

    • If a note does not apply, do NOT submit a note to indicate “not applicable.” Notes submitted through the applicable web application must tie to the submitted copy of the agency’s notes from its published AFR.
  • Submit all applicable schedules in Microsoft Excel format (latest version: xlsx) through the various AFR web applications:
    • Bond Reporting System (BRS)
    • Capital Asset Note Submission System (CANSS)
    • Component Unit & Related Organizations (CURO)
    • Deposit and Investment Note Submission System (DINSS)
    • General Revenue Reconciliation (GR Recon)
    • Lease Note Submission System (LNSS)
    • Long-Term Liability Note (LTLN)
    • Restatement Note Submission System (RNSS)
    • Schedule of Expenditures of Federal Awards (SEFA)
    • State Pass-Through Reporting (SPTR)
    • Statement of Cash Flows (SOCF)
  • Submit the ACFR Note Reporting & Certification (CNRC)

    The CNRC web application has three (3) certifications:

    • Disclosure Certification — Provides verification that all other web applications have been certified, even if there is no activity. SEFA is the only exception.
    • USAS Certification — States that all financial information contained in USAS accurately reflects the agency’s fund financial and/or government-wide financial position.
    • Global Certification — Provides an overarching certification that all information is accurate and complete in USAS and all applicable web applications.
  • All agencies are required to also submit the AFR to agencies (other than the Comptroller’s office) as shown in AFR Submission Method.

The DAFR report request profiles shown in Ordering USAS Financial Reports provide the DAFR reports at the levels at which the agency is required to be reconciled. If the agency’s USAS data appears to be incorrect, the Financial Reporting section reserves the right to request supporting detail for the combined and combining balance sheet and/or operating statement.

The submission requirements for each type of agency are different. Refer to the list of GR consolidated agencies and full reporting agencies to determine how the agency is classified and follow the submission requirements for that agency type.

GR consolidated agencies must adhere to the GR Consolidated Agencies Submission Requirements to submit their AFR information.

Full reporting agencies must use the Full Reporting Agencies Submission Requirements to submit their AFR information. Full reporting agencies are encouraged to make early submissions.