July 18, 2018 MEMORANDUM TO: Sue Wheeler, Fiscal Officer Office of Facility Planning and Control FROM: Afranie Adomako, CPA Director of Management and Finance DOA SUBJECT: FP&C-Capital Projects Information Needed for Louisiana’s Comprehensive – Annual Financial Report (AFR) The Office of Statewide Reporting and Accounting Policy (OSRAP) continuously strives to improve the financial reporting of the State of Louisiana. In recent years, the Governmental Accounting Standards Board (GASB) has promulgated pronouncements that have affected the State’s financial reporting in accordance with GAAP. These standards include: GASB Statement No. 34 GASB Basic Financial Statements and Management’s Discussion and Analysis; – Statement No. 42 Accounting and Financial Reporting for Impairment of Capital Assets and – GASB Statement No. 49 for Insurance Recoveries; Accounting and Financial Reporting for – and GASB Statement No. 51 Pollution Remediation Obligations; Accounting and Financial – These standards impact tremendously the capital outlay fund, Reporting for Intangible Assets. hence, the need for your entity to prepare and submit an Annual Financial Report (AFR) for the capital outlay fund. This packet is only for the reporting of the capital outlay permanent appropriations. The forms and schedules to complete the annual financial report for FP&C - Capital Projects may be accessed via the internet at http://www.doa.la.gov/Pages/osrap/Index.aspx. FP&C-Capital Outlay AFR packets and Appendix can be located by selecting packets” “AFR within the box “Information” Scroll down and select the applicable AFR packet includes specific instructions – applicable to that packet. Scroll down and select AFR Appendix should be used as a reference for the various – AFR packets; however, not all of the appendices are applicable to all of the reporting entities. OSRAP requires you to provide the information for Capital Projects that will be used in the completion of Louisiana’s Comprehensive Annual Financial Report for the period ending June 30, 2018 as follows: The Specialized Notes for Capital Outlay Capital Asset Note these expenses should be on a full accrual basis for fiscal year 2018 – and provide a worksheet of these expenses from LaGov. Schedule of Construction in Progress expenses showing expenses from fiscal year 2017 through fiscal year 2018.
July 18, 2018 MEMORANDUM TO: Sue Wheeler, Fiscal Officer Office of Facility Planning and Control FROM: Afranie Adomako, CPA Director of Management and Finance DOA SUBJECT: FP&C-Capital Projects – Information Needed for Louisiana’s Comprehensive Annual Financial Report (AFR) The Office of Statewide Reporting and Accounting Policy (OSRAP) continuously strives to improve the financial reporting of the State of Louisiana. In recent years, the Governmental Accounting Standards Board (GASB) has promulgated pronouncements that have affected the State’s financial reporting in accordance with GAAP. These standards include: GASB Statement No. 34 – Basic Financial Statements and Management’s Discussion and Analysis; GASB Statement No. 42 – Accounting and Financial Reporting for Impairment of Capital Assets and for Insurance Recoveries; GASB Statement No. 49 – Accounting and Financial Reporting for Pollution Remediation Obligations; and GASB Statement No. 51 – Accounting and Financial Reporting for Intangible Assets. These standards impact tremendously the capital outlay fund, hence, the need for your entity to prepare and submit an Annual Financial Report (AFR) for the capital outlay fund. This packet is only for the reporting of the capital outlay permanent appropriations. The forms and schedules to complete the annual financial report for FP&C - Capital Projects may be accessed via the internet at http://www.doa.la.gov/Pages/osrap/Index.aspx. FP&C-Capital Outlay AFR packets and Appendix can be located by selecting “AFR packets” within the “Information” box Scroll down and select the applicable AFR packet – includes specific instructions applicable to that packet. Scroll down and select AFR Appendix – should be used as a reference for the various AFR packets; however, not all of the appendices are applicable to all of the reporting entities. OSRAP requires you to provide the information for Capital Projects that will be used in the completion of Louisiana’s Comprehensive Annual Financial Report for the period ending June 30, 2018 as follows: The Specialized Notes for Capital Outlay Capital Asset Note – these expenses should be on a full accrual basis for fiscal year 2018 and provide a worksheet of these expenses from LaGov. Schedule of Construction in Progress expenses showing expenses from fiscal year 2017 through fiscal year 2018.
2018%20FPC%20packet.docx