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
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• Note 4
• Note 5
• Note 6
• Note 7
• Note 8
• Note 9
• Note 10
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• Note 12
• Note 13
• Note 14
• Note 15
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• Note 17
• Note 18
• Note 19
• Note 20
• Note 22
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• Note 24
• Note 25
• Note 26
• Note 27
• Note 28
• Note 29
• Note 30
• Note 31
• Note 32
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Note 29 – Troubled Debt Restructuring

1. Disclose debtor or creditor troubled debt restructuring information in the notes to financial statements per GASB 62 requirements (as applicable).
   1. For each restructuring, a debtor must disclose the following information about troubled debt restructurings that occurred during a period for which financial statements are presented:
      • A description of the principal changes in terms
      • The major features of settlement
      • Or both
   2. The aggregate gain on restructuring of payables
   3. The aggregate net gain or loss on transfers of assets recognized during the reporting period
2. A debtor must disclose (for periods after a troubled debt restructuring) the extent to which amounts contingently payable are included in the carrying amount of restructured payables.
3. A debtor must disclose total amounts that are contingently payable on restructured payables and the conditions under which those amounts would become payable or forgiven.
4. A creditor must disclose the following information about troubled debt restructurings as of the date for each statement of net assets presented:
   1. The amount of commitments (if any) to lend additional resources to debtors owing receivables whose terms were modified in troubled debt restructurings.
   2. Outstanding receivables whose terms have been modified in troubled debt restructurings, (by major category) the:
      • Aggregate recorded investment
      • Gross interest revenue that would have been recorded in the reporting period then ended if those receivables had been current in accordance with their original terms and were outstanding throughout the period or since origination, if held for part of the reporting period.
      • Amount of interest revenue on those receivables that was included in changes in net assets for the reporting period
5. 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.”