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 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.