Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Universities

Organization of AFRs for University Systems, Component Universities & Independent Universities
Miscellaneous

This section contains information on the following miscellaneous topics related to university system AFRs.

• Benefits Paid On Behalf
• CAUF AFR Reconciliation Templates
• Notes to AFR
• Supplemental Schedules
• Net Position Balances
• D23 Setup

Benefits Paid On Behalf

Each university must continue to include the benefits paid on its behalf as an expense and the associated additional appropriation revenue in its operating statement (hard copy AFR). The amounts must not be entered in USAS. The USAS and Interagency Activity Certification Form provides a method for identifying the difference between the AFR and USAS. For more information, see the Instructions for the CNRC Web Application.

CAUF AFR Reconciliation Templates

Use the templates provided in the Templates and Sample Exhibits in the Higher Education Resources section for reconciling the university’s AFR to USAS. Independent university and system-wide reports require entry of all balances and transactions to USAS. System components are only required to enter information in the shaded lines on the templates.

Guidelines for using the templates:

• General revenue transactions must only post to appropriated fund 0001.
• USAS balances in all D23 funds must be included in the reconciliation. Additional columns may be added to the templates (if necessary) to accommodate all the D23 funds.
• The templates are designed to accommodate the commonly used line items. If the university has a specific item not listed, an additional row may be inserted. Contact your financial reporting analyst if you have any questions.
• Most of the T-codes listed are reversing T-codes. For certain entries, it may be necessary to use non-reversing T-codes. Contact your financial reporting analyst if you need assistance to determine whether the use of a non-reversing T-code is required.
• When all entries are processed and the AFR finalized, complete a final reconciliation and submit the reconciliation along with the other required submissions to your financial reporting analyst.

Notes to AFR

It is not necessary for components of a university system to submit their AFR notes to the Comptroller’s office. The consolidated system-wide notes are the only required submission.

Supplemental Schedules

Information related to federal and state grant pass-throughs (previously required in agency’s AFR) is submitted electronically using the SEFA and SPTR web applications. Hard copy submissions of Schedule 1A and Schedule 1B are no longer required.

Net Position Balances

Do not reduce the net position category of net investment in capital assets by the amounts of accumulated accretion on capital appreciation bonds. Instead, include these balances as part of the unrestricted net position balance. If a sinking fund was established for the bond issue, the accumulated accretion balance should be applied against it.

Component university net position balances at fiscal year-end will not agree at the D23 fund level between the statement of net position and the statement of revenues, expenses and changes in net position, due to the limited required loading of financial information from the component university into USAS.

D23 Setup

Higher Ed (higher education systems, independent universities and system components) agencies should only setup D23 funds that infer their assigned USAS CAFR FILE ID contained in the D24 GAAP Funds table below. The OTHNMEP USAS CAFR FILE ID is no longer allowed.