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Glenn Hegar  ·  Texas Comptroller of Public Accounts

Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Tools

Annual Financial Report Working Papers, 2017
Long-Term Liabilities Proprietary Funds (FT05) Instructions, Fiscal 2017

The proprietary funds business-type activities (BTA) working papers are used to create the long-term liabilities note for proprietary funds. The working papers provide USAS transaction entry templates to adjust USAS balances to represent fiscal year-end balances. The FMQuery–SIRS Long-Term Liabilities Note report (located in the USAS Financial Statements section) provides updated USAS balances the business day after entries post. The agency must compare the report balances to its AFR long-term liabilities note and, once reconciled, certify that USAS reconciles to the AFR long-term liabilities note.

Procedure for the working papers:

  1. Access the BTA working papers. There are six separate worksheets that relate to adjusting USAS balances for current liability and non-current liability GL accounts:
    • Bonds Payable Business-Type Activities, Record
    • Capital Lease Obligations Business-Type Activities, Record
    • Claims and Judgments Business-Type Activities, Record
    • Employees’ Compensable Leave Business-Type Activities, Record
    • Notes and Loans Payable Business-Type Activities, Record
    • Pollution Remediation Obligations Business-Type Activities, Record

    Note: Only enter information into the highlighted cells.

  2. Use the USAS balances from the Long-Term Liabilities Note report for input into the appropriate row of each worksheet as necessary for your agency.
    • After completing the batch header information on the worksheet, enter the amount from the Long-Term Liabilities Note report in the respective worksheet in the row “From Long-Term Liabilities Note Query” in the column labeled “Beginning Balance.” This is the prior year ending balance.
    • Using data from the Long-Term Liabilities Note report, continue across the row entering “Additions” and “Reductions.” Do not net “Additions” and “Reductions” — these are reported separately. On this line only, enter the reductions as negative numbers.
  3. Enter amounts into the appropriate row of each worksheet using the “Note 5 – Summary of Long-Term Liabilities.”
    • Tab to the row labeled “From AFR Long Term Liabilities Note.”
    • Enter the “Additions,” “Reductions” and “Amounts Due Within One Year” using Note 5. Enter all amounts as positives.
    • The USAS transaction amounts are automatically calculated from the difference(s) between USAS balances and note balances.
  4. Enter the transactions into USAS.
  5. Verify the transactions process on the following business day.
  6. Access the Long-Term Liabilities Note report and verify the USAS balances reconcile to Note 5. If not, complete new working papers using the new Long-Term Liabilities Note report balances.

Note: An additional line is contained in the proprietary fund working papers for each long-term liability category. The single column proprietary fund statement presentation requires this step to properly balance the transactions.

Glenn Hegar
Texas Comptroller of Public Accounts
Questions? Contact statewide.accounting@cpa.texas.gov
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