To:         DASACC Financial Contacts

 

From:       Paul Carlson

 

Date:       06/28/2005 10:51 AM

 

Subject:    Financial Reporting Package

 

 

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

June 30, 2005, Comprehensive Annual Financial Report (CAFR). Please forward

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 2005 CAFR. The 1991 through

2003 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 this year. We will be gathering the Statewide Single Audit

information through a separate process this year.

 

In the attachments you will find the following:

 

 ACCRUAL INFORMATION REQUESTED:

 

     Accrual  Definitions.  (accdefin.htm)  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.xls, ARF Tab)This form is to be used

     to  report  the  accrual  amounts  by NIS fund. These amounts will be

     included in our financial statements.

 

     Accrual  Contact/Documentation  Form. (accrual.xls, Contact tab) This

     form will be the link the auditors will use to assist in auditing the

     amounts included on the Accrual Response Form.

 

     Instructions.  (accinstr.htm)  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)  These forms are used to report

     information  required for proper footnote disclosure (see footnote 9,

     page 59, of the 2004 CAFR, under the heading "Lessor Transactions").

 

     Cash  and Investments Form. (csh_inv.xls) This form is used to report

     any  bank accounts, investments, CDs, etc., which are not recorded on

     NIS.

 

     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 NIS. For example, by coding documents as P9 transactions,

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 that 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 or would rather receive a

paper   reporting   package,  please  contact  Amy  Wilson  at  471-0616 

(amwilson@notes.state.ne.us). We would appreciate receiving your response by

August 15, 2005, or sooner if possible. If there are certain items that you

cannot  calculate  by August 15, 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.