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 3 – Deposits, Investments & Repurchase Agreements (Submitted Through the DINSS web application)
- If the agency has cash in bank or investments (current or non-current), Note 3 is required.
- Cash in bank per the AFR balance sheet/statement of net position agrees to the cash in bank carrying amount disclosed in Note 3 with separate disclosure for discrete component units (if applicable).
- For cash in bank, report the total bank balance and the carrying amount in Note 3.
- Verify that the investment portion of Note 3 includes the fair value in total and by level of input (as required by GASB 72).
- Verify the total of current and non-current investments per the AFR balance sheet/statement of net position agree to the total of the investments table in Note 3 with separate disclosure for discrete component units, if applicable.
- If there are investments to which GASB 31 applies, include a line item on the statement of revenues, expenses and changes in fund balance titled net increase/decrease in fair value of investments for all fund types.
- The following must be entered in DINSS in addition to being disclosed in the AFR Note 3:
- Cash in bank carry amount
- Cash in bank balance
- Deposit custodial credit risk
- Deposit foreign currency risk
- Investment fair value in total and by level of input (as required by GASB 72)
- Investment custodial credit risk
- Investment foreign currency risk
- Investment credit risk S&P
- Investment securities lending collateral pool fair value in total and by level of input (as required by GASB 72)
- Investments recorded at net asset value summarized by strategy with associated redemption period, redemption frequency and unfunded commitments (as required by GASB 72).
- After reconciling Note 3 to the respective data entered in DINSS, submit a copy of the agency’s Note 3 from its published AFR through the DINSS 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 3 does not apply, do not submit a note to indicate “not applicable.”