[ACFR-contacts-news] FW: FY 2021 Disclosures + Impact of COVID and wildfires to General Disclosure 28

[HAMILTON Robert W * DAS]

Good afternoon ACFR Contacts!

I hope Month 13 is off to a good start for everyone. As many may recall, historically SARS analysts email their agencies at the start of Month 13 with the General, and if needed Debt, Agency Disclosures for the fiscal year. This year, this was accomplished with the email below, but given that it's been some time since that email, I wanted to resend it today. Please see the original email below and the attached ACFR Transmittal and Agency Certification form.

In addition, I wanted to share a question I received about whether the costs associated with the September wildfires or the COVID pandemic would need to be included on Agency Disclosure 28 Infrequent and/or Unusual Items. While it may seem appropriate, the answer is no. Costs incurred in FY 2020 associated with the pandemic were not reported in the ACFR as an extraordinary or special item, based on this from the Technical Bulletin 2020-1<https://gasb.org/jsp/GASB/Document_C/DocumentPage?cid=1176174832053&acceptedDisclaimer=true> GASB issued last year:

[cid:image001.jpg at 01D77F0A.A4E65D00]
The same rationale would apply for the September wildfires, as they are not infrequent, nor are they in the control of management, meaning that the associated costs would not be considered as being associated with an extraordinary or special item.

As always, if there are questions, please reach out to your SARS Analyst.

Best,

Rob

From: Acfr-contacts-news [mailto:acfr-contacts-news-bounces at omls.oregon.gov] On Behalf Of CHASE Stacey A * DAS via Acfr-contacts-news
Sent: Wednesday, June 9, 2021 2:20 PM
To: acfr-contacts-news at omls.oregon.gov
Subject: [ACFR-contacts-news] FY 2021 Disclosures

Good afternoon ACFR contacts!

The FY 2021 disclosure forms have been updated and are available on the SARS Disclosures webpage<https://www.oregon.gov/das/Financial/Acctng/Pages/Disc.aspx>. Attached is the FY 2021 ACFR Transmittal/Agency Certification.

Please note the following when completing your disclosure forms:


*            All disclosures are Excel documents. Please be sure to complete and submit those that are applicable to your agency.

*            The General Disclosure checklist and lettered disclosures are required from all agencies.

*            The Debt Disclosure checklist and lettered disclosures are required from all agencies with debt.

*            Please be aware that certain disclosures have additional pages, accessed by scrolling down, and/or additional spreadsheet tabs.

*            Use the correct signage for amounts. Debits are not bracketed and credits are bracketed. Amounts and signs should agree to what's displayed on the DAFR 6610 and 6620 reports.

*            General Disclosure form E asks about your agency's federal revenue and expenditures. All agencies that answer "yes" to any of these questions must complete the SEFA disclosure forms; also available on the SARS Disclosures web page.

*         Completed sample disclosures are in Chapter H of the Agency Guide to Year-end Closing; available via the following link: https://www.oregon.gov/das/Financial/Acctng/Pages/Yr-end-cls.aspx

o   Note: Chapters B-G of the Agency Guide to Year-end Closing were not updated for FY 2021 financial reporting; however, the information is still "current" for agencies to complete FY 2021 reporting requirements.

Please complete the disclosure forms and email them directly to your SARS analyst before the end of the day on Friday, August 20. The information your agency provides will be used in preparation of the ACFR note disclosures.

Using the electronic forms:


*         Enter your agency number on the first page only and tab forward; all subsequent pages will automatically populate when grouped in a single workbook.

*         Using the 'enter' key will populate a field with the information you type, but it will not move the cursor forward to the next cell.

*         Use the 'tab' key or the mouse to move the cursor through the fillable forms.

*         Use the 'enter' key or a mouse click to populate a check box.

*         If you enter a minus (-) sign with a number, be sure to check the calculated total line for the expected outcome.

Although the ACFR Transmittal/Agency Certification (attached) is a fillable form, you will need to print a copy of the certification to obtain the required signatures. Please send the signed certification to your SARS analyst by scanning into an email before the end of the day on Friday, August 20. This is a Gold Star Date.  SARS keeps the signed forms on file for the statewide audit.

The following is a direct link to the SARS Disclosures webpage:
https://www.oregon.gov/das/Financial/Acctng/Pages/Disc.aspx

Please contact your SARS analyst if you have questions. Thank you.
s


Stacey A. Chase
Senior Financial Reporting & Policy Analyst
Chief Financial Office
Department of Administrative Services
Phone: (971) 900-9993
https://www.oregon.gov/das/financial/acctng/pages/index.aspx

Data Classification: Level 1 - Published

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