Agency 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 3 – Deposits, Investments & Repurchase Agreements (Submitted Through the DINSS web application)

1. If the agency has cash in bank or investments (current or non-current), Note 3 is required.
2. 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).
3. For cash in bank, report the total bank balance and the carrying amount in Note 3.
4. Verify that the investment portion of Note 3 includes the fair value in total and by level of input (as required by GASB 72).
5. 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.
6. 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.
7. The following must be entered in DINSS in addition to being disclosed in the AFR Note 3:
   1. Cash in bank carry amount
   2. Cash in bank balance
   3. Deposit custodial credit risk
   4. Deposit foreign currency risk
   5. Investment fair value in total and by level of input (as required by GASB 72)
   6. Investment custodial credit risk
   7. Investment foreign currency risk
   8. Investment credit risk S&P
   9. Investment securities lending collateral pool fair value in total and by level of input (as required by GASB 72)
   10. Investments recorded at net asset value summarized by strategy with associated redemption period, redemption frequency and unfunded commitments (as required by GASB 72).
8. 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.”