To: DASACC Financial Contacts
From: Paul
Carlson
Subject: Financial
Reporting Package
Date:
We are
requesting your assistance in completing the enclosed financial
reporting
package. This package, which is being provided electronically
this year,
contains questionnaires on accrual items, contingency
information
and assets. This information will assist us in preparing our
this note to
the appropriate individual in your agency if you will not be
completing
the forms yourself.
The Auditor
of Public Accounts will audit the 2007 CAFR. The 1991 through
2005 CAFR's
received the Certificate of Achievement for Excellence in
Financial
Reporting from the Government Finance Officers Association, and
we
anticipate last year's report receiving this
award as well.
Your
past responses to our questionnaires were
instrumental in completing
those
CAFR's. The Auditor of Public Accounts
will also perform a Statewide
Single Audit
that we will be gathering information for through a separate process.
In the
attachments you will find the following:
ACCRUAL INFORMATION REQUESTED:
Accrual Definitions. (accdefin.doc) This listing of definitions
describes the accrual
items that should be included on the Accrual
Response Form and the Accrual
Contact/Documentation Form.
Accrual Response Form. (Accrual, ARF tab) This form is to be used
to report
the accrual amounts
by
included in our financial statements.
Accrual Contact/Documentation Form. (Accrual, Contact tab) This
form will be the link the auditors will
use to assist in auditing the
amounts reported on the Accrual Response
Form.
Instructions. (accinstr.doc) Sets of instructions are included to
assist
you in completing
both the Accrual
Response and
Contact/Documentation Forms.
OTHER INFORMATION REQUESTED:
Lease Response Forms.
(leases.xls, Capital tab, Lesee tab, and Lessor
tab) These forms are used to report
information required for proper
footnote disclosure (see footnote 9, page
60, of the 2006 CAFR).
Cash and Investments Form. (csh_inv.xls)
This form is used to report
any bank accounts, investments, CDs, etc., which
are not recorded on
Nonmonetary Transactions
Form. (nonmontr.xls)
This form is used to
report nonmonetary
transaction balances and activity.
Capital Grant
Reporting Form. (cap_grant.xls) This form is used to
report information
required for financial
statement presentation
under GASB Statement
No. 34.
We have made every effort to collect as much of
the accrual information as
possible through
we can
calculate trade accounts
payable and interagency billing
transactions. We
have been able to accrue certain
items by reviewing
activity that
posts in July. For example,
accrued interest receivable
on the
Operating Investment Pool (OIP) and accrued payables
on June's
purchasing
card transactions can be calculated through
this method.
For these
types of accruals that we are able to calculate, you
do
not have to
provide information on the attached forms. However, there are
certain
accruals for which we must rely on the responses you provide.
Generally,
these are the items listed on the accrual definition list.
Your
responses on these forms will be reviewed and audited. It is important
that
your staff is aware of this requirement
to ensure accurate recording
of these
accruals. Documentation supporting your
responses should be
available for
inspection by the
auditors to save you time during
this
review process.
You may also use alternative forms to report your accrual
information.
We would
appreciate your assistance and effort to complete these forms
as
accurately as possible. If you have any questions, please contact
Amy
receiving
your response by
are certain
items that you cannot calculate by August 6, please let us
know. If you
do not have any information to report
on the forms,
you
may indicate
this in a return email.
Your efforts
to assist us in preparing
accurate and timely financial
statements
are appreciated.