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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

Note 11 – Postemployment Benefits Other Than Pensions

  1. 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 74, GASB 75 and GASB 85 and to submit their audited actuary reports separately to the Comptroller via email to frs@cpa.texas.gov.
  2. Agencies issuing an independent audited AFR are required to prepare Note 11 in compliance with GASB 74, GASB 75 and GASB 85 for financial statement presentation and disclosure purposes only.

    Note: Agencies must NOT enter Other Postemployment Benefits (OPEB) in USAS. The Financial Reporting section centrally enters all OPEB adjustments (with the exception of the UT and A&M Plans) and provides each audited agency with sample documentation to prepare its AFR.

  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.”