<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:x="urn:schemas-microsoft-com:office:excel" xmlns:st1="urn:schemas-microsoft-com:office:smarttags" xmlns="http://www.w3.org/TR/REC-html40">
<head>
<meta http-equiv=Content-Type content="text/html; charset=us-ascii">
<meta name=Generator content="Microsoft Word 11 (filtered medium)">
<o:SmartTagType namespaceuri="urn:schemas-microsoft-com:office:smarttags"
name="PostalCode"/>
<o:SmartTagType namespaceuri="urn:schemas-microsoft-com:office:smarttags"
name="State"/>
<o:SmartTagType namespaceuri="urn:schemas-microsoft-com:office:smarttags"
name="City"/>
<o:SmartTagType namespaceuri="urn:schemas-microsoft-com:office:smarttags"
name="Street"/>
<o:SmartTagType namespaceuri="urn:schemas-microsoft-com:office:smarttags"
name="address"/>
<o:SmartTagType namespaceuri="urn:schemas-microsoft-com:office:smarttags"
name="place"/>
<o:SmartTagType namespaceuri="urn:schemas-microsoft-com:office:smarttags"
name="PlaceType"/>
<o:SmartTagType namespaceuri="urn:schemas-microsoft-com:office:smarttags"
name="PlaceName"/>
<!--[if !mso]>
<style>
st1\:*{behavior:url(#default#ieooui) }
</style>
<![endif]-->
<style>
<!--
/* Font Definitions */
@font-face
{font-family:Verdana;
panose-1:2 11 6 4 3 5 4 4 2 4;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0in;
margin-bottom:.0001pt;
font-size:12.0pt;
font-family:"Times New Roman";}
a:link, span.MsoHyperlink
{color:blue;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{color:purple;
text-decoration:underline;}
span.EmailStyle17
{mso-style-type:personal-compose;
font-family:Arial;
color:windowtext;}
@page Section1
{size:8.5in 11.0in;
margin:1.0in 1.25in 1.0in 1.25in;}
div.Section1
{page:Section1;}
-->
</style>
</head>
<body lang=EN-US link=blue vlink=purple>
<div class=Section1>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>Hello Everyone,<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>SARS has just completed a draft policy on pollution
remediation obligations. The purpose of this policy is to bring the state’s
financial reporting into compliance with <i><span style='font-style:italic'>GASB
Statement No. 49, Accounting and Financial Reporting for Pollution Remediation
Obligations</span></i>. The effective date for GASB No. 49 and this policy is
FY 2009. <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>In FY 2008, SARS presented training on this topic at the
“current issues” training session held in April and the year end
closing training held in June. In addition, agencies were asked to complete a
special disclosure form included in the FY 2008 General Disclosures package.
The purpose of the form was to identify the existence of “obligating
events” as of June 30, 2008. <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>Upon completion of FY 2008 CAFR season, SARS began working
one-on-one with those agencies that indicated an obligating event had occurred.
Due to the complexities of GASB No. 49, SARS also developed a template to
assist agencies in organizing the data and calculating their remediation
liabilities. The template was rolled out to agencies in a series of small group
training sessions in March. Participating agencies include Military, OYA, <st1:place
w:st="on"><st1:PlaceType w:st="on">State</st1:PlaceType> <st1:PlaceType w:st="on">Lands</st1:PlaceType></st1:place>,
Forestry, DHS, ODOT, Corrections, Parks, Aviation, and DEQ. The training
sessions also produced useful feedback that SARS incorporated into the draft
policy.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>If your agency is not one of the participating agencies,
please review the attached draft policy and let SARS know <i><span
style='font-style:italic'>immediately</span></i> if your agency has experienced
an obligating event that was not disclosed for FY 2008 or is a new event in FY
2009. SARS will schedule a training session as soon as possible to bring your
agency up to speed.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>All agencies are asked to review the proposed policy and
provide comments for improvement to Kathy Ross, Jane Moreland or Kathy Dixon by
<b><span style='font-weight:bold'>April 29</span></b>. Please note that this
policy reflects the new format designated for DAS statewide policies; the policy
and procedure are combined within one document. Here is the link to the policy:<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'><a
href="http://www.das.state.or.us/DAS/SCD/SARS/oam_toc.shtml#OAM_Policies_Out_for_Comment">http://www.das.state.or.us/DAS/SCD/SARS/oam_toc.shtml#OAM_Policies_Out_for_Comment</a><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>Thanks,<br>
Kathy<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal><strong><b><font size=1 color=gray face=Verdana><span
style='font-size:7.5pt;font-family:Verdana;color:gray'>Kathryn Ross</span></font></b></strong><o:p></o:p></p>
<p class=MsoNormal><strong><b><font size=1 color=gray face=Verdana><span
style='font-size:7.5pt;font-family:Verdana;color:gray'>Statewide
Accounting & Reporting Manager</span></font></b></strong><o:p></o:p></p>
<p class=MsoNormal><st1:place w:st="on"><st1:PlaceName w:st="on"><font size=1
color=gray face=Verdana><span style='font-size:7.5pt;font-family:Verdana;
color:gray'>Oregon</span></font></st1:PlaceName><font size=1 color=gray
face=Verdana><span style='font-size:7.5pt;font-family:Verdana;color:gray'> <st1:PlaceType
w:st="on">State</st1:PlaceType></span></font></st1:place><font size=1
color=gray face=Verdana><span style='font-size:7.5pt;font-family:Verdana;
color:gray'> Controller's Division</span></font><o:p></o:p></p>
<p class=MsoNormal><st1:Street w:st="on"><st1:address w:st="on"><font size=1
color=gray face=Verdana><span style='font-size:7.5pt;font-family:Verdana;
color:gray'>155 Cottage Street NE</span></font></st1:address></st1:Street><font
size=1 color=gray face=Verdana><span style='font-size:7.5pt;font-family:Verdana;
color:gray'>, U-50</span></font><o:p></o:p></p>
<p class=MsoNormal><st1:place w:st="on"><st1:City w:st="on"><font size=1
color=gray face=Verdana><span style='font-size:7.5pt;font-family:Verdana;
color:gray'>Salem</span></font></st1:City><font size=1 color=gray
face=Verdana><span style='font-size:7.5pt;font-family:Verdana;color:gray'>, <st1:State
w:st="on">OR</st1:State> <st1:PostalCode w:st="on">97301</st1:PostalCode></span></font></st1:place><o:p></o:p></p>
<p class=MsoNormal><font size=1 color=gray face=Verdana><span style='font-size:
7.5pt;font-family:Verdana;color:gray'>Phone: (503) 373-7277, ext 253</span></font><o:p></o:p></p>
<p class=MsoNormal><font size=1 color=gray face=Verdana><span style='font-size:
7.5pt;font-family:Verdana;color:gray'>Fax: (503) 378-3514</span></font><o:p></o:p></p>
<p class=MsoNormal><font size=1 face=Verdana><span style='font-size:7.5pt;
font-family:Verdana'><a href="http://oregon.gov/DAS/SCD/SARS">http://oregon.gov/DAS/SCD/SARS</a></span></font><o:p></o:p></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
</div>
</body>
</html>