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<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>Good Morning 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 updated the following policies and posted them for
comment. All three policies reflect the new DAS statewide policy template, which
combines the policy and procedures into one document. In addition, the DAS
Communications Coordinator has edited each policy for plain language.<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 style='margin-left:.2in;text-indent:-.2in;mso-list:l0 level1 lfo2'><![if !supportLists]><font
size=2 face=Symbol><span style='font-size:10.0pt;font-family:Symbol'><span
style='mso-list:Ignore'>·<font size=1 face="Times New Roman"><span
style='font:7.0pt "Times New Roman"'> </span></font></span></span></font><![endif]><b><font
size=2 face=Arial><span style='font-size:10.0pt;font-family:Arial;font-weight:
bold'>OAM 15.60.10 – Capital Assets: Classification and Capitalization<o:p></o:p></span></font></b></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 style='margin-left:.2in'><font size=2 face=Arial><span
style='font-size:10.0pt;font-family:Arial'>Four new GLs for intangible assets will
be added to the chart of accounts: Land Use Rights (not amortized); Land
Use Rights (amortized); Other Intangible Assets (not amortized); Other
Intangible Assets (amortized).<o:p></o:p></span></font></p>
<p class=MsoNormal style='margin-left:.2in'><font size=2 face=Arial><span
style='font-size:10.0pt;font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal style='margin-left:.2in'><font size=2 face=Arial><span
style='font-size:10.0pt;font-family:Arial'>Expanded the discussion in paragraph
127 on transfers of assets.<o:p></o:p></span></font></p>
<p class=MsoNormal style='margin-left:.2in'><font size=2 face=Arial><span
style='font-size:10.0pt;font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal style='margin-left:.2in'><font size=2 face=Arial><span
style='font-size:10.0pt;font-family:Arial'>Added paragraph 128 on accounting
for assets when ownership is unclear.<o:p></o:p></span></font></p>
<p class=MsoNormal style='margin-left:.2in'><font size=2 face=Arial><span
style='font-size:10.0pt;font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal style='margin-left:.2in'><font size=2 face=Arial><span
style='font-size:10.0pt;font-family:Arial'>Added paragraph 129 on estimating
historical cost.<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 style='margin-left:.2in;text-indent:-.2in;mso-list:l0 level1 lfo2'><![if !supportLists]><font
size=2 face=Symbol><span style='font-size:10.0pt;font-family:Symbol'><span
style='mso-list:Ignore'>·<font size=1 face="Times New Roman"><span
style='font:7.0pt "Times New Roman"'> </span></font></span></span></font><![endif]><b><font
size=2 face=Arial><span style='font-size:10.0pt;font-family:Arial;font-weight:
bold'>OAM 15.60.40 – Intangible Assets<o:p></o:p></span></font></b></p>
<p class=MsoNormal><b><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial;font-weight:bold'><o:p> </o:p></span></font></b></p>
<p class=MsoNormal style='margin-left:.2in'><font size=2 face=Arial><span
style='font-size:10.0pt;font-family:Arial'>Modified to reflect the requirements
of <b><span style='font-weight:bold'>GASB Statement No. 51- Accounting and
Reporting for Intangible Assets, </span></b>which was covered in the Year End
Closing training.<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 style='margin-left:.2in;text-indent:-.2in;mso-list:l0 level1 lfo2'><![if !supportLists]><font
size=2 face=Symbol><span style='font-size:10.0pt;font-family:Symbol'><span
style='mso-list:Ignore'>·<font size=1 face="Times New Roman"><span
style='font:7.0pt "Times New Roman"'> </span></font></span></span></font><![endif]><b><font
size=2 face=Arial><span style='font-size:10.0pt;font-family:Arial;font-weight:
bold'>OAM 15.55.00 – Non-capital Assets<o:p></o:p></span></font></b></p>
<p class=MsoNormal><b><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial;font-weight:bold'><o:p> </o:p></span></font></b></p>
<p class=MsoNormal style='margin-left:.2in'><font size=2 face=Arial><span
style='font-size:10.0pt;font-family:Arial'>Minor changes; primarily
reformatted.<o:p></o:p></span></font></p>
<p class=MsoNormal style='margin-left:.2in'><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'>Please review the attached policy drafts and send me your
comments no later than <b><span style='font-weight:bold'>July 14.</span></b>
Here is the link to the policies: <a
href="http://www.oregon.gov/DAS/SCD/SARS/oam_toc.shtml#OAM_Policies_Out_for_Comment">http://www.oregon.gov/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'>The tentative effective date for these policies is August 1,
2009. However, agencies have all of FY 2010 to bring their accounting and
reporting into full compliance with GASB 51.<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><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=3 face="Times New Roman"><span style='font-size:
12.0pt'><a href="http://oregon.gov/DAS/SCD/SARS"><font size=1 face=Verdana><span
style='font-size:7.5pt;font-family:Verdana'>http://oregon.gov/DAS/SCD/SARS</span></font></a><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
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