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Reporting Requirements for Annual Financial Reports of State Agencies and Universities

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Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Tools

Templates & Sample Exhibits

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Templates

  • AFR Exhibit Templates [+]
  • Agency Transmittal Letter (for audited AFRs) [+]

    The following disclosures are required in the agency transmittal letter for agencies with tax abatements (these disclosures are in addition to those required in Note 31).

    1. 1. Reference (including how to access these documents) the budget, board minutes, economic development plan or other documents and disclose the location of a complete cost/benefit analysis
    2. 2. Disclose how tax abatements are accounted for and incorporated into the budget process and final budget
    3. 3. Disclose the relationship between tax abatements and strategic plan goals
    4. 4. Disclose a 5-year chart of benefits anticipated and received (both financial and non-financial) due to the tax abatement
    5. 5. Disclose governing policies, anticipated achievements and methodologies used to determine return on investment for tax abatements
    6. 6. Disclose the identification of compliance monitors of tax abatement agreements

    Agency Transmittal Letter (for audited AFRs)

    (Print on AGENCY LETTERHEAD)

    Date

    Honorable Greg Abbott, Governor
    Honorable Glenn Hegar, Texas Comptroller
    Jerry McGinty, Director, Legislative Budget Board
    Lisa Collier, State Auditor



    Ladies and Gentlemen:

    We are pleased to submit the annual financial report of the (agency name) for the year ended Aug. 31, 20CY, in compliance with Texas Government Code Annotated, Section 2101.011, and in accordance with the requirements established by the Texas Comptroller of Public Accounts.

    The accompanying annual financial report has been prepared in accordance with GAAP reporting requirements. The financial report has been audited by an independent auditor as required by statute.

    If you have any questions, please contact (employee chiefly responsible for the annual report) at (telephone number). (Employee chiefly responsible for reporting of federal information) may be contacted at (telephone number) for questions related to the Schedule of Expenditures of Federal Awards.

    Sincerely,


    Agency Executive Name and Title

  • Agency Transmittal Letter (for unaudited AFRs) [+]

    Note: If an agency produces an unaudited hard copy AFR, it must include a transmittal letter with the submitted unaudited AFR. Agencies may use the text below to create the transmittal letter.

    1. 1. Highlight and copy the text below.
    2. 2. Paste the copied text into a Word file.
    3. 3. Enter the date, agency name and all other agency-specific information as required (all areas highlighted in yellow).
    4. 4. Enter the “Agency Executive” name and title below the signature area.
    5. 5. Save and print the file.
    6. 6. Sign the transmittal letter in the signature area.
    7. 7. Include the transmittal letter in the submission of the hard copy unaudited AFR.

    Agency Transmittal Letter (for unaudited AFRs)

    (Print on AGENCY LETTERHEAD)

    Date

    Honorable Greg Abbott, Governor
    Honorable Glenn Hegar, Texas Comptroller
    Jerry McGinty, Director, Legislative Budget Board
    Lisa Collier, State Auditor



    Ladies and Gentlemen:

    We are pleased to submit the annual financial report of the (agency name) for the year ended Aug. 31, 20CY, in compliance with Texas Government Code Annotated, Section 2101.011, and in accordance with the requirements established by the Texas Comptroller of Public Accounts.

    Due to the statewide requirements embedded in Governmental Accounting Standards Board (GASB) 34, the Comptroller of Public Accounts does not require the accompanying annual financial report to comply with all the requirements in this statement. The financial report will be considered for audit by the state auditor as part of the audit of the State of Texas Annual Comprehensive Financial Report (ACFR); therefore, an opinion has not been expressed on the financial statements and related information contained in this report.

    If you have any questions, please contact (employee chiefly responsible for the annual report) at (telephone number). (Employee chiefly responsible for reporting of federal information) may be contacted at (telephone number) for questions related to the Schedule of Expenditures of Federal Awards.

    Sincerely,


    Agency Executive Name and Title

  • Agency Audit Letter of Intent [+]

    Note: If an agency or an institution of higher education chooses to undergo a non-statutorily required financial statement audit for its AFR, it must submit an Audit Letter of Intent. Agencies may use the text below to create the letter.

    1. 1. Highlight and copy the text below.
    2. 2. Paste the copied text into a Word file.
    3. 3. Enter the date, agency name and all other agency-specific information as required (all areas highlighted in yellow).
    4. 4. Enter the “Agency Executive” name and title below the signature area.
    5. 5. Save and print the file.
    6. 6. Sign the transmittal letter in the signature area.
    7. 7. Email letter of intent to frs@cpa.texas.gov by Sept. 15, 20CY

    Agency Audit Letter of Intent

    (Print on AGENCY LETTERHEAD)

    Date

    The Honorable Glenn Hegar
    Texas Comptroller of Public Accounts
    P.O. Box 13528, Capitol Station
    Austin, TX 78711-3528



    Dear Sir:

    In compliance with Texas Government Code Annotated, Section 2101.011, and in accordance with the requirements established by the Texas Comptroller of Public Accounts, we hereby submit our intent to complete a non-statutorily required financial statement audit for the fiscal year 20CY (agency name) Annual Financial Report. (Name of external audit firm) will complete the audit.

    Sincerely,


    Agency Executive Name and Title

  • Data Entry Template (Excel)
  • GASB 49 – Pollution Remediation Obligation Inventory Template (Excel)
  • GASB 83 – Asset Retirement Obligation Register Template (Excel)
  • Note 2 – Capital Asset Template (Excel)
  • SOCF Reconciliation Template (Excel)
  • USAS Reconciliation Sheet (Excel)

Higher Education Resources

Sample Exhibits