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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

Resources

Agency Fiscal Year-End USAS Adjustments and AFR Checklist
Step 8 – Notes to the Financial Statements

Notes to the Financial Statements

  1. Submit copies of the agency’s applicable notes 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 any note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable”.
  2. Submit via the following AFR web applications (as applicable) in addition to a copy of the agency’s notes from its published AFR with each note as a separate attachment:
    • Bond Reporting System (BRS)
    • Capital Asset Note Submission System (CANSS)
    • Component Unit and 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 Grant Pass-Through Reporting (SPTR)
    • Statement of Cash Flows (SOCF)
    • Agencies are required to submit a certification within most web applications by the applicable due dates.

    • Notes submitted through the applicable web application must tie to the submitted copy of the agency’s notes from its published AFR.

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

Note 1 – Significant Accounting Polices (Submitted Through the ONDSS web application)

  1. Submit descriptions of only the fund type and funds actually used by the agency. These descriptions must be specific to the agency rather than generic, with the exception of the general fund. Also include a reference to the component units, if applicable. Include details or descriptions of the:
    1. Component units included in the financial reporting entity.
    2. Relationship between component units and the financial reporting entity.
    3. Rationale for including individual component units in the financial reporting entity.
    4. How individual component units are reported (i.e., blended, discretely presented, or as a fiduciary fund).
    5. How to obtain the separately issued financial statements of component units.
  2. Submit a copy of the agency’s Note 1 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 1 does not apply, do NOT submit a note to indicate “not applicable.”

Note 2 – Capital Assets / Right to Use Assets (Submitted Through the CANSS web application)

Verify that the SPA amounts tie to the CANSS certified amounts as well as the USAS capital asset GL and COBJ amounts for each category of right to use (RTU) assets:

  1. The following CANSS columns match each category of capital asset to both the balance sheet/statement of net position and the operating statement:
    1. Beginning Balance column equals PY ending balances.
    2. Adjustments column equals restatements COBJ 3891. All restatements require an explanation in the Note 14 restatements, including those in FT11. Agencies with restatements in FT05 or FT15 must also separately disclose the capital asset restatement amounts in Note 14.
    3. Completed CIP column nets to zero having no effect on the operating statement.
    4. Inc-Int’agy Trans column equals the sum of:
      • COBJ 3843/7858 – net increase in net assets due to interagency transfer of capital assets
      • Accumulated depreciation
      • Accumulated amortization
    5. Dec-Int’agy Trans column equals the sum of:
      • COBJ 7858/3843 – net decrease in net assets due to interagency transfer of capital assets
      • Accumulated depreciation
      • Accumulated amortization

      Note: The net increase of an interagency capital asset transfer must match the net decrease of an interagency capital asset transfer transaction. Agencies using local depreciation and amortization calculations must record the same amount agreed upon during the interagency transfer of capital assets. For more information on capital asset transfers, see Recording Interagency Transfers of Capital Assets.

    6. Additions column equals the sum of:
      • Total capital outlay plus capital donations or capital contributions
      • Accumulated depreciation equals total depreciation expense
      • Accumulated amortization equals total amortization expense

      Note: Capital asset additions for FT05 may not match the CANSS “Additions” column.

    7. Deletions column equals the sum of:
      • Net of proceeds from the sale of capital assets and any gain or loss on the sale of capital assets (COBJ 3834)
      • Accumulated depreciation
      • Accumulated amortization
    8. Ending Balance column for each category of capital asset equals USAS capital asset GL and COBJ amounts
  2. Depreciation expense is recorded in USAS with COBJs 7936, 7937, 7938 and 7939.
  3. Amortization expense is recorded in USAS with COBJs 7877, 7878 and 7879.
  4. RTU amortization expense is recorded in USAS with COBJ 7885.

Verify that the CANSS certified amounts tie to the USAS capital asset GL and COBJ amounts for each category of RTU assets:

  1. The following CANSS columns match each category of RTU asset to both the balance sheet/statement of net position and the operating statement:
    1. Beginning Balance column equals PY ending balances.
    2. Adjustments column equals restatements COBJ 3891. All restatements require an explanation in Note 14 restatements, including those in FT11. Agencies with restatements in FT05 or FT15 must also separately disclose the capital asset restatement amounts in Note 14.
    3. Additions column equals the sum of:
      • Total capital outlay
      • Accumulated amortization (which equals total amortization expense)

        Note: RTU asset additions for FT05 may not match the CANSS Additions column.

    4. Deletions column equals the sum of accumulated amortization.
    5. Ending Balance column for each category of RTU asset equals USAS RTU asset GL and COBJ amounts.

Verify that the balance is zero at the GAAP source/object level using the DR206 – Review Govt-Wide Basis Conversion report located in the FMQuery–SIRS AFR Desk Review menu for the following:

  1. The sum of capital outlay for all governmental fund types net to zero with the sum of capital outlay presented in basis conversion FT11.
  2. Proceeds from the sale of capital assets nets to zero between governmental fund types and FT11.

    Note: Depreciation and amortization will not tie to SPA for those agencies opting to use local calculation methods instead of SPA calculated values.

  3. Disclose all of the following Non-Monetary Transactions information for non-monetary transactions that occurred during the fiscal year in the OTHER TEXT box in the CANSS web application:
    • Nature of the non-monetary transactions (include a breakdown by capital asset type)
    • Measurement attributes applied to the transferred assets
    • Gains or losses recognized on those transactions
  4. Universities that do not report to SPA are required to submit the fiscal year-end External Agencies Transfers In and Out (excel) file through the CANSS web application.

Note 3 – Deposits, Investments & Repurchase Agreements (Submitted Through the DINSS web application)

  1. If the agency has cash in bank or investments (current or non-current), Note 3 is required.
  2. Cash in bank per the AFR balance sheet/statement of net position agrees to the cash in bank carrying amount disclosed in Note 3 with separate disclosure for discrete component units (if applicable).
  3. For cash in bank, report the total bank balance and the carrying amount in Note 3.
  4. Verify that the investment portion of Note 3 includes the fair value in total and by level of input (as required by GASB 72).
  5. Verify the total of current and non-current investments per the AFR balance sheet/statement of net position agree to the total of the investments table in Note 3 with separate disclosure for discrete component units, if applicable.
  6. If there are investments to which GASB 31 applies, include a line item on the statement of revenues, expenses and changes in fund balance titled net increase/decrease in fair value of investments for all fund types.
  7. The following must be entered in DINSS in addition to being disclosed in the AFR Note 3:
    1. Cash in bank carry amount
    2. Cash in bank balance
    3. Deposit custodial credit risk
    4. Deposit foreign currency risk
    5. Investment fair value in total and by level of input (as required by GASB 72)
    6. Investment custodial credit risk
    7. Investment foreign currency risk
    8. Investment credit risk S&P
    9. Investment securities lending collateral pool fair value in total and by level of input (as required by GASB 72)
    10. Investments recorded at net asset value summarized by strategy with associated redemption period, redemption frequency and unfunded commitments (as required by GASB 72).
  8. After reconciling Note 3 to the respective data entered in DINSS, submit a copy of the agency’s Note 3 from its published AFR through the DINSS 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 3 does not apply, do NOT submit a note to indicate “not applicable.”

Note 4 – Short-term Debt (Submitted through the ONDSS web application)

  1. Include the purpose for the short-term debt.
  2. Include required GASB 88 disclosure text related to each of the following:
    • Unused lines of credit
    • Pledged collateral assets
    • Terms specified in debt agreements
  3. Include a separate table for component units (if applicable) in the same format as the Note 4 Sample table shown for governmental activities.
  4. Submit a copy of the agency’s Note 4 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 4 contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. If Note 4 does not apply, do NOT submit a note to indicate “not applicable.”

Note 5 – Long-Term Liabilities (Submitted through the LTLN web application)

  1. Verify that each line item of LTLN (for example, loans and notes payable) ties to the AFR balance sheet/statement of net position. Changes in debt balances are presented.
  2. Verify that debt service requirements are presented for five years, and five-year increments thereafter, for both principal and interest amounts.
  3. Verify that the principal amount for the first year of the debt service (by applicable category) is equal to the amount due within one year.
  4. Ensure that text includes description of claims & judgments, pollution remediation obligations, asset retirement obligations, direct borrowings and direct placements, notes and loans payable (or any other category if applicable) to support required disclosure.
  5. Ensure that all long-term liabilities are split between due within one year and due in more than one year.
  6. Verify that direct borrowings and direct placements of debt are disclosed separately from all other debt. See Direct Borrowings and Direct Placements for more information.
  7. Ensure that text includes the following summarized information to support required disclosure:
    1. Amount of unused lines of credit
    2. Assets pledged as collateral for debt
    3. Terms specified in debt agreements related to significant:
      1. events of default with finance-related consequences
      2. termination events with finance related consequences
      3. subjective acceleration clauses
  8. Verify that the notes from direct borrowings and notes from direct placements are reported in debt service funds (FT03).
  9. Submit a copy of the agency’s applicable note from its published AFR through the LTLN 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 any note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable.”

Note 6 – Bonded Indebtedness (Submitted through both BRS web application and AFR closing package)

  1. Note 6 is required if the agency has bonds payable.
  2. Primary bond information is collected through BRS and must agree with information reported in Note 6 and in the following support schedules:
  3. Verify BRS is certified.
  4. List bonds separately by individual series with a description of each outstanding issue.
  5. Disclose direct borrowings and direct placements of debt and separate from other debt. See Direct Borrowings and Direct Placements for more information.
  6. Verify the bonds outstanding amount reconciles to the bonds payable for general obligation bonds and revenue bonds per the statement of net position, balance sheet, Schedule 2B, BRS and USAS.
  7. The following are required as they relate to the agency:
    1. Debt service requirements (principal and interest payments) must be in agreement for each of the five fiscal years following the current fiscal year and in five-year increments reported thereafter until maturity.
    2. Report governmental activity bond refundings in their entirety in the agency’s operating statement and Note 6.
    3. Report advance refunding of bonds during the reporting period and disclose the difference between cash flows of old and new debt and the economic gain/(loss) resulting from the refunding.
    4. Disclose general obligation bonds authorized (but unissued) at fiscal year-end.
    5. Disclose pledged future revenues for all bond issues for which one or more agency revenue streams are pledged.
    6. Report demand bond outstanding balances and all related letters of credit, standby purchase agreements, takeout agreements or other reacquisition provisions.
    7. Disclose interest rate swaps and their estimated effect on future fiscal years debt service.
    8. GASB 65 no longer nets gain/loss on bond refunding against bonds payable. Report unamortized gain/loss balances as deferred inflows of resources or deferred outflows of resources.
  8. Upload all applicable schedules and submit a copy of the agency’s Note 6 from its published AFR through the BRS web application. All schedules must be submitted in the Microsoft Excel format. The required note format is a Microsoft Word document (latest version: docx) with header information that includes: agency name/number and note number/name. If the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file.

Note: Constitutional appropriation bonds are identified as general obligation bonds.

Note 7 – Derivative Instruments (Submitted through the ONDSS web application)

  1. Note 7 is required if the agency has investment and/or hedging derivative instruments.

    Disclosures about derivative instrument activities should be organized by:

    1. Governmental activities
    2. Business-type activities
    3. Fiduciary funds

    Additionally, the information within those activities is divided into the following categories:

    1. Hedging derivative instruments (distinguishing between fair value hedges and cash flow hedges)
    2. Investment derivative instruments
    3. Other Derivative Instruments (does not meet the definition of an investment derivative instrument or the effectiveness criteria of a hedging derivative instrument)

    Within each category, derivative instruments should be aggregated by type (for example, receive-fixed swaps, pay-fixed swaps, swaptions, rate caps, basis swaps and futures contracts).

  2. All derivative instruments on the Summary of Derivative Instruments activity table must be aggregated by type (for example, receive-fixed or pay-fixed interest rate swaps, basis swaps, futures contracts) within each of the two categories, hedging and investment derivative instruments.
  3. The Summary of Derivative Instruments activity table must include the following aggregated by type:
    1. The notional amount
    2. Changes in fair value during the reporting period and the classification on the financial statements where those changes in fair value are reported
    3. Fair values as of the end of the fiscal year and the classification on the financial statements where those fair values are reported
    4. Fair values of derivative instruments reclassified from a hedging derivative instrument to an investment derivative instrument
    5. If a hedge termination event occurred: The balance of the deferred outflow (or inflow) of resources is reported separately from the investment revenue classification and captioned increase (decrease) upon hedge termination.
  4. For business-type activities and fiduciary funds, verify that the total fair value in the Summary of Derivative Instruments activity table ties to USAS:
    1. Hedging derivative instrument assets tie to the following GL accounts:
      • 0170 – CA Hedging Derivative Instrument Assets
      • 0481 – NC Hedging Derivative Instrument Assets
    2. Hedging derivative instrument liabilities tie to the following GL accounts:
      • 1143 – CL Hedging Derivative Instrument Liabilities
      • 1471 – NC Hedging Derivative Instrument Liabilities
    3. Investment derivative instruments tie to the following GL accounts:
      • 0059 – CA ST Inv – Derivative Instruments
      • 0105 – NC Inv – Derivative Instruments
    4. Other derivative instrument assets tie to the following GL accounts:
      • 0186 – CA Other Derivative Instrument Assets
      • 0486 – NC Other Derivative Instrument Assets
    5. Other derivative instrument liabilities tie to the following GL accounts:
      • 1148 – CL Other Derivative Instrument Liabilities
      • 1378 – NC Other Derivative Instrument Liabilities
  5. For governmental activities, verify that the total fair value in the Summary of Derivative Instruments activity table ties to USAS:
    1. Hedging derivative instrument assets tie to the following GL accounts:
      • 0570 – BC CA Hedging Derivative Instrument Assets
      • 0781 – BC NC Hedging Derivative Instrument Assets
    2. Hedging derivative instrument liabilities tie to the following GL accounts:
      • 1543 – BC CL Hedging Derivative Instrument Liabilities
      • 1971 – BC NC Hedging Derivative Instrument Liabilities
    3. Investment derivative instruments tie to the following GL accounts:
      • 0559 – BC CA Inv – Derivative Instrument Assets
      • 0705 – BC NC Inv – Derivative Instrument Assets
    4. Other derivative instrument assets tie to the following GL accounts:
      • 0586 – BC CA Other Derivative Instrument Assets
      • 0786 – BC NC Other Derivative Instrument Assets
    5. Other derivative instrument liabilities tie to the following GL accounts:
      • 1548 – BC CL Other Derivative Instrument Liabilities
      • 1978 – BC NC Other Derivative Instrument Liabilities
  6. If a hedge termination event occurred, verify that the balance of the deferred outflow (or inflow) of resources in the Summary of Derivative Instruments activity table ties to USAS:
    • 4845 – Increase / (Decrease) Upon Hedge Termination
  7. Verify that the ineffective hedging derivative instruments that were reclassified to investment derivative instruments in the DINSS web application are marked as such.
  8. Verify that the disclosures for the deferral amount reported within the investment revenue for the reclassification of investment derivative instruments. Disclosures are also required for the following:
    1. Fair Value Measurement:
      • Market Approach
      • Cost Approach
      • Income Approach
    2. Fair Value Hierarchy:
      • Level 1
      • Level 2
      • Level 3
  9. Submit a copy of the agency’s Note 7 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 7 contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. If Note 7 does not apply, do NOT submit a note to indicate “not applicable.”

Note 8 – Leases/SBITAS

  1. The present value of leases or subscriptions ties to right to use lease obligation or right to use subscription obligation amount on balance sheet/statement of net position. The future minimum lease or subscription payments are presented separately for five fiscal years and five-year increments thereafter for both principal and interest amounts. Disclose:
    1. Debt service information is submitted through the LNSS web application in the Right to Use Lease Debt Service or Right to Use Subscription Debt Service left navigation menus.
  2. For right to use lease obligations, disclose:
    1. General leasing arrangements
    2. Minimum future lease payments for noncancelable leases of more than one year for each of the next five fiscal years and five-year increments thereafter for both principal and interest amounts
    3. Total variable and other payments (for example: residual value guarantees and termination penalties) not included in the lease liability for the current reporting period
    4. Components of any loss associated with an impairment (gross impairment loss less any related change in lease liability)
    5. Lease commitments for which the lease term has not begun
  3. For right to use lease income, disclose:
    1. General leasing arrangements
    2. Minimum future lease income for noncancelable leases of more than one year for each of the next five fiscal years and thereafter in five-year increments for both principal and interest amounts
    3. Total variable and other income (i.e. residual value guarantees, termination penalties) not included in the lease receivable for the current reporting period
    4. Lease receivable information is submitted through the LNSS web application in the Right to Use Lease Income left navigation menus
    5. Total current year income
  4. For regulated lease income, disclose:
    1. General leasing arrangements
    2. Minimum future lease income for regulated leases of more than one year for each of the next five fiscal years and thereafter in five-year increments for both principal and interest amounts
    3. The total amount of inflows of resources (for example: lease revenue, interest revenue and any other lease-related inflows) for the current reporting period
    4. The amount of inflows of resources recognized in the reporting period for variable payments not included in expected future minimum payments
    5. Lease receivable information is submitted through the LNSS web application in the Regulated Lease Income left navigation menus
  5. For right to use subscription obligations (SBITAs), disclose:
    1. General description of the SBITA arrangement. This would include any variable payments not included in the SBITA liability.
    2. Total amount of subscription assets and the related accumulated depreciation.
    3. Total amount of payments made for variable payments and other payments (for example, termination penalties) not included in the SBITA liability.
    4. Principal and interest payments to be made (presented separately) for each of the next five years individually and in five-year increments thereafter.
    5. Any commitments under SBITAs before the SBITA term commences.
    6. Any impairment losses and any related change in SBITA liability.
  6. Submit a copy of the agency’s applicable note from its published AFR through the LNSS 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 any note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable.”

Note 9 – Defined Benefit Pension Plans and Defined Contribution Plan

  1. Agencies issuing an independent audited AFR are required to prepare Note 9 in compliance with GASB 68, GASB 73 and GASB 82. Submit a copy of the agency’s applicable note 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 the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable.”
  2. Agencies that administer pension plans (ERS, TRS and TESRS) are required to prepare Note 9 in compliance with GASB 67 and provide GASB 68, GASB 73 and GASB 82 information separately to the Comptroller’s Financial Reporting Section submitted via email to frs@cpa.texas.gov.
  3. University system offices and independent universities that administer the Optional Retirement Program (ORP) must disclose the amounts contributed by members and by the employer for the program.
  4. With the implementation of GASB 97, certain Internal Revenue Code (IRC), Section 457(f), defined contribution plans are also considered pension plans. All accounting and financial reporting requirements relevant to pensions must be applied to the benefits provided through a Section 457 plan that meets the definition of a pension plan and reported separately.

Note 10 – Deferred Compensation (Submitted through the ONDSS web application)

  1. Only agencies that administer deferred compensation plans (UT, A&M and ERS) are required to prepare Note 10, disclosing information such as plan description, legal basis for the plan, provisions for the plan balances and the state’s liability.
  2. 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.”

Note 11 – Postemployment Benefits Other Than Pensions (UT, A&M, ERS and TRS only)

  1. Only agencies that administer post-employment health care and life insurance benefits (ERS, TRS, UT and A&M) are required to prepare Note 11 in compliance with GASB 45 and GASB 74.
  2. Submit a copy of the agency’s applicable note 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 the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable.”

Note 12 – Interfund Balances/Activities

  1. Note 12 is required for interfund receivables (GL 0279)/payables (GL 1049).
  2. Interfund receivables (GL 0279) and interfund payables (GL 1049) balances per Note 12 tie to balance sheet/statement of net position.
  3. Interfund receivables and interfund payables include agency and fund information in Note 12.
  4. Submit a copy of the agency’s applicable note 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 the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable.”

Note 13 – Continuance Subject to Review

  1. Note 13 is required if the agency is subject to the Texas Sunset Act or there is substantial doubt of the agency’s ability to continue as a going concern.
  2. Submit a copy of the agency’s applicable note 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 the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable.”

Note 14 – Adjustments to Beginning Net Position, Fund Balances or Fund Net Position (Submitted through the RNSS web application)

  1. Note 14 is required if the agency has a restatement on the financial statements.
  2. Ensure the note clearly states the reason and amount for each restatement. This is extremely important for general revenue (fund 0001) restatements made for prior year appropriation activity.

    Note: This information is used in the formula for determining if the agency has correctly stated legislative appropriations on the financial statements.

  3. Ensure the restatement amount in USAS equals the restatement amounts in all of the applicable web applications.
  4. Submit a copy of the agency’s Note 14 from its published AFR through the RNSS 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 14 contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. If Note 14 does not apply, do NOT submit a note to indicate “not applicable.”

Note 15 – Contingencies and Commitments

  1. Note 15 is required if agency has material disclosures for contingent liabilities.
  2. Submit a copy of the agency’s applicable note 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 the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable.”

Note 16 – Subsequent Events

  1. Note 16 is required if the agency has subsequent events.
  2. If applicable, submit a copy of the agency’s applicable note 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 the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable.”

Post-period Subsequent Events

Post-period subsequent event information can only be submitted from Jan. 1 through Jan. 14.

  1. A disclosure is required if the agency has post-period subsequent events.

    If applicable, submit a copy of the agency’s applicable note 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 the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file.

  2. If not applicable, indicate that no further disclosure is applicable through the ONDSS web application.

For more information, see Post-period Subsequent Events in the Instructions for the ONDSS Web Application.

Note 17 – Risk Management

  1. Disclose types of risk, how the risk is handled, insurance coverage, participation in a risk pool and the risk retained (if applicable).
  2. If applicable, submit a copy of the agency’s applicable note 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 the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable.”

Note 18 – Management’s Discussion and Analysis

  1. Disclose material changes in net position, revenues and expenses, etc. (if any).
  2. Include descriptions of currently known facts, conditions or decisions that could affect the availability of fund resources.
  3. Include descriptions of significant capital asset and long-term liability activity including:
    • Commitments made for capital expenditures
    • Changes in credit ratings and debt limitations that may affect financing of planned activities
  4. Submit a copy of the agency’s applicable note 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 the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable.”

Note 19 – The Financial Reporting Entity (Submitted through the CURO web application)

  1. Disclose information about component units, related organizations, joint ventures, jointly governed organizations and related parties as they relate to the agency.
  2. Submit a copy of the agency’s Note 19 from its published AFR through the CURO 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 19 does not apply, do NOT submit a note to indicate “not applicable.”

Note 20 – Deficit Fund Balances/Net Position of Individual Nonmajor Funds

  1. Disclose items such as deficit fund balances/net position, material violations of finance-related legal or contractual provisions and changes in accounting principles (this list is not all-inclusive).
  2. Submit a copy of the agency’s applicable note 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 the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable.”

Note 22 – Donor Restricted Endowments

  1. Note 22 is required if the agency has endowments restricted by a donor’s stipulation.
  2. Explain any variance from prior year-end to current year for expendable and nonexpendable balances.
  3. Submit a copy of the agency’s applicable note 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 the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable.”

Note 23 – Extraordinary and Special Items

  1. Disclose any special and/or extraordinary items regardless of the amount.
  2. Submit a copy of the agency’s applicable note 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 the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable.”

Note 24 – Disaggregation of Receivable and Payable Balances

  1. Disclose any receivable or payable balances that may be obscured by aggregation in their reporting on the face of the financial statements.
  2. Disclose if there are significant receivable balances not expected to be collected within the next fiscal year.

    Review current or non-current receivables or payables amounts with the FMQuery–SIRS AFR Desk Review and run the reports listed below located in the Balance Sheet drop-down menu:

    • DR103 — Review Other Receivables (BS,SNA-8580)
    • DR105 — Review Other Payables (BS,SNA-8580)
  3. Submit a copy of the agency’s Note 24 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 24 contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. If Note 24 does not apply, do NOT submit a note to indicate “not applicable.”

Note 25 – Termination Benefits

  1. Disclose information regarding the liabilities and expenses that result from voluntary and involuntary terminations (such as cash payments, healthcare coverage, career counseling and outplacement services).
  2. Submit a copy of the agency’s applicable note 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 the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable.”

Note 26 – Segment Information

  1. Disclose segment information for enterprise funds (if applicable).
  2. If applicable, submit a copy of the agency’s applicable note 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 the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable.”

Note 27 – Public-Public and Public-Private Partnerships

  1. Disclose the following information if the agency is a transferor in a public-private or public-public partnership (PPP):
    1. A general description of the PPP arrangement. This includes any variable payments not included in the PPP receivable for installment payments and status of construction projects.
    2. The nature and amounts of PPP-related assets and deferred inflows of resources that are recognized in the financial statements.
    3. The nature and extent of rights retained by the transferor or granted to the operator under the arrangement.
    4. The total amount of payments received for variable and other payments (for example, residual value guarantees, termination penalties) not included in the PPP receivable for installment payments.
    5. The discount rate(s) used for the determination of the receivable for installment payments.
    6. The identification, duration and significant contract terms of any guarantees and/or commitments associated with the PPP arrangement, if any exist in the reporting period.
  2. If applicable, submit a copy of the agency’s applicable note from its published AFR through the LNSS 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 the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable.”

Note 28 – Deferred Outflows of Resources and Deferred Inflows of Resources

  1. Disclose deferred outflows of resources and deferred inflows of resources related to the following (if applicable).
    • Hedging derivative instruments (GASB 53)
    • Public-Private and Public-Public Partnerships (GASB 94)
    • Available Payment Arrangements (GASB 94)
    • Asset retirement obligations (GASB 83)
    • Pensions (GASB 68 and GASB 73)
    • Government acquisitions (GASB 69)
    • Leases (GASB 87)
    • Subscription-based Information Technology Arrangements (GASB 96)
    • Others prescribed by GASB 65
  2. Submit a copy of the agency’s applicable note 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 the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable.”

Note 29 – Troubled Debt Restructuring

  1. Disclose troubled debt restructuring information (if applicable).
  2. If applicable, submit a copy of the agency’s applicable note 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 the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable.”

Note 30 – Financial Guarantees

  1. Disclose non-exchange financial guarantees (if applicable).
  2. Submit a copy of the agency’s applicable note 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 the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable.”

Note 31 – Tax Abatements

  1. Disclose tax abatements that reduce the reporting agency’s tax revenues.
  2. Submit a copy of the agency’s applicable note 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 the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable.”

Note 32 – Fund Balances

  1. Explain why (cite the covenant, provision, federal requirement or court order) any governmental fund is classified as anything other than its default fund classification.
  2. Submit a copy of the agency’s applicable note 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 the note contains a table, include the table in the Word document — rather than as a separate Excel document or other database application file. Do NOT submit a note to indicate “not applicable.”