Reporting Requirements for Annual Financial Reports of State Agencies and Universities
Agency Fiscal Year-End USAS Adjustments and AFR Checklist
Step 8 – Notes to the Financial Statements
Note 14 – Adjustments to Fund Balance/Net Position (Submitted through the RNSS web application)
- Note 14 is required if the agency has a restatement on the financial statements.
- 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
Note: This information is used in the formula for determining if the agency has correctly stated legislative appropriations on the financial statements.
- Ensure the restatement amount in USAS equals the restatement amounts in all of the applicable web applications.
- 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.”