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

• Note 1
• Note 2
• Note 3
• Note 4
• Note 5
• Note 6
• Note 7
• Note 8
• Note 9
• Note 10
• Note 11
• Note 12
• Note 13
• Note 14
• Note 15
• Note 16
• Note 17
• Note 18
• Note 19
• Note 20
• Note 22
• Note 23
• Note 24
• Note 25
• Note 26
• Note 27
• Note 28
• Note 29
• Note 30
• Note 31
• Note 32
• View All

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.”