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<div class=Section1>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>Hello CAFR Accountants,<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 following updated policies have been posted to the <st1:place
w:st="on"><st1:State w:st="on"><b><span style='font-weight:bold'>Oregon</span></b></st1:State></st1:place><b><span
style='font-weight:bold'> Accounting Manual (OAM)<font color=navy><span
style='color:navy'>. </span></font></span></b>The effective date for the updates
is March 1, 2010. These updates involve minor housekeeping changes only.<o:p></o:p></span></font></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:.25in;text-indent:-.25in;mso-list:l4 level1 lfo2'><![if !supportLists]><b><font
size=2 face=Arial><span style='font-size:10.0pt;font-family:Arial;font-weight:
bold'><span style='mso-list:Ignore'>1.<font size=1 face="Times New Roman"><span
style='font:7.0pt "Times New Roman"'> </span></font></span></span></font></b><![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><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>
<ul style='margin-top:0in' type=disc>
<li class=MsoNormal style='mso-list:l1 level1 lfo5'><font size=2 face=Arial><span
style='font-size:10.0pt;font-family:Arial'>Paragraph 124 – Added a
reference to direct readers to an example of how to account for an
installment purchase contract.<o:p></o:p></span></font></li>
</ul>
<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:.25in;text-indent:-.25in;mso-list:l4 level1 lfo2'><![if !supportLists]><b><font
size=2 face=Arial><span style='font-size:10.0pt;font-family:Arial;font-weight:
bold'><span style='mso-list:Ignore'>2.<font size=1 face="Times New Roman"><span
style='font:7.0pt "Times New Roman"'> </span></font></span></span></font></b><![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>
<ul style='margin-top:0in' type=disc>
<li class=MsoNormal style='mso-list:l1 level1 lfo5'><font size=2 face=Arial><span
style='font-size:10.0pt;font-family:Arial'>Paragraph 137 – Added an
example with GL accounts and T-codes of how to account for an installment
purchase contract, such as a software licensing agreement.<o:p></o:p></span></font></li>
</ul>
<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:.25in;text-indent:-.25in;mso-list:l4 level1 lfo2'><![if !supportLists]><b><font
size=2 face=Arial><span style='font-size:10.0pt;font-family:Arial;font-weight:
bold'><span style='mso-list:Ignore'>3.<font size=1 face="Times New Roman"><span
style='font:7.0pt "Times New Roman"'> </span></font></span></span></font></b><![endif]><b><font
size=2 face=Arial><span style='font-size:10.0pt;font-family:Arial;font-weight:
bold'>OAM 60.10.00 – General Ledger Accounts<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>
<ul style='margin-top:0in' type=disc>
<li class=MsoNormal style='mso-list:l1 level1 lfo5'><font size=2 face=Arial><span
style='font-size:10.0pt;font-family:Arial'>Updated the definitions of:<o:p></o:p></span></font></li>
</ul>
<p class=MsoNormal style='margin-left:1.0in;text-indent:-.25in;mso-list:l1 level2 lfo5'><![if !supportLists]><font
size=2 face=Symbol><span style='font-size:10.0pt;font-family:Symbol'><span
style='mso-list:Ignore'><img width=11 height=11
src="cid:image001.gif@01CAAFF0.2D2212A0" alt="*"><font size=1
face="Times New Roman"><span style='font:7.0pt "Times New Roman"'>
</span></font></span></span></font><![endif]><font size=2 face=Arial><span
style='font-size:10.0pt;font-family:Arial'>GL account 1280, Lease-Purchase
Contracts Payable—Current<o:p></o:p></span></font></p>
<p class=MsoNormal style='margin-left:1.0in;text-indent:-.25in;mso-list:l1 level2 lfo5'><![if !supportLists]><font
size=2 face=Symbol><span style='font-size:10.0pt;font-family:Symbol'><span
style='mso-list:Ignore'><img width=11 height=11
src="cid:image001.gif@01CAAFF0.2D2212A0" alt="*"><font size=1
face="Times New Roman"><span style='font:7.0pt "Times New Roman"'>
</span></font></span></span></font><![endif]><font size=2 face=Arial><span
style='font-size:10.0pt;font-family:Arial'>GL account 1715, Lease-Purchase
Contracts Payable—Noncurrent<o:p></o:p></span></font></p>
<p class=MsoNormal style='margin-left:.75in'><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 contact you SARS analyst if you have any questions.<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><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=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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