Overview of the Annual Report Requirements - GAAP Basis
Washington State Auditor’s Office
[{'start': '0.720', 'end': '6.720', 'text': 'Hello, my name is Kayley Pagio with the Office of\xa0\nthe Washington State Auditor. The purpose of this'}, {'start': '6.720', 'end': '12.240', 'text': 'recorded training is to provide an overview\xa0\nof the annual report requirements and how'}, {'start': '12.240', 'end': '18.480', 'text': 'to determine what is required or may apply to\xa0\nyour government. We will also have a focus on'}, {'start': '18.480', 'end': '24.960', 'text': 'connecting the annual report components to the\xa0\nBARS manual because it is important to utilize'}, {'start': '24.960', 'end': '32.240', 'text': 'the BARS manual instructions and accounting\xa0\nguidance when completing the annual report.'}, {'start': '32.240', 'end': '37.520', 'text': 'In this recorded training, we will discuss a\xa0\nbrief introduction to what the annual report'}, {'start': '37.520', 'end': '43.440', 'text': 'is then we will move into how to navigate\xa0\nthe BARS manual with a focus on areas that'}, {'start': '43.440', 'end': '49.040', 'text': 'are beneficial when preparing the annual\xa0\nreport. Then we will spend majority time'}, {'start': '49.040', 'end': '54.880', 'text': 'learning about how to prepare the annual report\xa0\ncomponents. We will wrap up this training with'}, {'start': '54.880', 'end': '62.560', 'text': 'other training and resources available to local\xa0\ngovernments related to BARS and annual filing.'}, {'start': '62.560', 'end': '66.800', 'text': 'Now let’s get started with our first\xa0\nagenda item! To get through this training,'}, {'start': '66.800', 'end': '72.880', 'text': 'we all need to have a basic understanding of what\xa0\nthe annual report is and the overall requirements'}, {'start': '72.880', 'end': '77.600', 'text': 'for it. The annual report is required\xa0\nfor all local governments in the state'}, {'start': '77.600', 'end': '84.800', 'text': 'of Washington regardless of size. It’s essentially\xa0\na compilation of a government’s financial activity'}, {'start': '84.800', 'end': '90.720', 'text': 'and other information about how the government\xa0\nfunctions and operates for the reporting year.'}, {'start': '90.720', 'end': '95.440', 'text': 'The State Auditor’s Office develops systems\xa0\nand forms for governments to submit this'}, {'start': '95.440', 'end': '102.880', 'text': 'information to us and helps to ensure efficiency,\xa0\naccuracy and compliance with uniform accounting.'}, {'start': '102.880', 'end': '108.720', 'text': 'The requirement to submit the annual report\xa0\nis established in state law which states the'}, {'start': '108.720', 'end': '115.280', 'text': 'report must be submitted within 150 days\xa0\nafter the close of each fiscal year. Since'}, {'start': '115.280', 'end': '123.040', 'text': 'the deadline is established in state law, we are\xa0\nnot able to grant extensions to this deadline.'}, {'start': '123.040', 'end': '128.240', 'text': 'We’re going to give a high-level overview\xa0\nof the annual report components just to'}, {'start': '128.240', 'end': '132.400', 'text': 'give you a better idea of what\xa0\nwe will be going over today.'}, {'start': '132.400', 'end': '138.800', 'text': 'First, let’s talk about the components that are\xa0\napplicable to only cities, towns, and counties.'}, {'start': '138.800', 'end': '144.320', 'text': 'The Schedule 17 is applicable to\xa0\nall cities, towns and counties but'}, {'start': '144.320', 'end': '149.280', 'text': 'may not be required for your specific\xa0\ngovernment. This schedule is used to'}, {'start': '149.280', 'end': '156.080', 'text': 'document compliance with limitations on public\xa0\nworks projects performed by public employees.'}, {'start': '156.080', 'end': '162.320', 'text': 'This is heavily driven by RCW so if you’re\xa0\nunsure if it’s required for your government,'}, {'start': '162.320', 'end': '169.120', 'text': 'we recommend reviewing the BARS instructions\xa0\nand applicable RCWs to make that determination.'}, {'start': '169.120', 'end': '175.360', 'text': 'Then we have the Schedule 20 which is required\xa0\nfor rural counties only and this is also driven'}, {'start': '175.360', 'end': '182.960', 'text': 'by RCW which is why the guidance and criteria\xa0\nis based on what is written in those RCWs.'}, {'start': '182.960', 'end': '188.880', 'text': 'This schedule is used to summarize the use\xa0\nof sales and use tax resources on public'}, {'start': '188.880', 'end': '192.880', 'text': 'facilities and demonstrates\xa0\ncompliance with state law.'}, {'start': '192.880', 'end': '196.800', 'text': 'Since these schedules only apply\xa0\nto a small number of governments,'}, {'start': '196.800', 'end': '203.440', 'text': 'we will not be going into further detail\xa0\non these for the purposes of this training.'}, {'start': '203.440', 'end': '207.360', 'text': 'For the purposes of this training,\xa0\nwe will only be focusing more on'}, {'start': '207.360', 'end': '212.320', 'text': 'these schedules listed here that\napply to all government types.'}, {'start': '212.320', 'end': '218.160', 'text': 'This is just a general list of the components\xa0\nbut we will be taking a closer look at each'}, {'start': '218.160', 'end': '223.920', 'text': "one of these in today's recorded training.\xa0\nWe will define what each component is and"}, {'start': '223.920', 'end': '232.000', 'text': 'what the criteria is to help determine if this\xa0\nis required for your government type or not.'}, {'start': '232.000', 'end': '235.520', 'text': 'Now we will move into navigating\xa0\nthe BARS manual. Remember,'}, {'start': '235.520', 'end': '240.960', 'text': 'the focus of this training is connecting\xa0\nthe BARS manual to the annual report so'}, {'start': '240.960', 'end': '248.000', 'text': 'you know where to find the applicable BARS\xa0\nguidance for each component of the report.'}, {'start': '248.000', 'end': '254.480', 'text': "Let's start with the reporting templates. To\xa0\naccess this you will go to the SAO website at"}, {'start': '254.480', 'end': '264.080', 'text': 'sao.wa.gov, select BARS & Annual Filing up at\xa0\nthe top and select BARS Reporting Templates.'}, {'start': '266.560', 'end': '269.760', 'text': 'This is a snippet of what the\xa0\nBARS reporting templates page'}, {'start': '269.760', 'end': '275.520', 'text': 'looks like. You can find templates for\xa0\nall SAO annual report schedules here'}, {'start': '275.520', 'end': '282.400', 'text': 'and they are preformatted for easy\xa0\nupload to the annual filing system.'}, {'start': '282.400', 'end': '287.040', 'text': 'After reviewing the available templates,\xa0\nyou may notice that there is no template'}, {'start': '287.040', 'end': '290.880', 'text': 'for the Notes to the Schedule of\xa0\nExpenditures of Federal Awards,'}, {'start': '290.880', 'end': '296.720', 'text': 'also known as the SEFA, and there are no\xa0\nSchedule 01 templates for cities/towns or'}, {'start': '296.720', 'end': '302.320', 'text': 'counties. I will explain more on this when\xa0\nwe talk about preparing the Schedule 01.'}, {'start': '302.320', 'end': '305.840', 'text': 'The templates are formatted very\xa0\nsimply and are really designed'}, {'start': '305.840', 'end': '309.680', 'text': 'as tools to import data into the filing system.'}, {'start': '309.680', 'end': '315.520', 'text': 'The most important thing to remember when using\xa0\nthese templates is do not alter the basic format'}, {'start': '315.520', 'end': '322.560', 'text': 'of them. This means do not delete or add any\xa0\ncolumns, headers, sub-totals, etc. You only need'}, {'start': '322.560', 'end': '328.240', 'text': 'to input your information where applicable\xa0\nand then upload it into the filing system.'}, {'start': '328.240', 'end': '334.160', 'text': 'The templates should be used in conjunction with\xa0\nthe applicable BARS manual section that contains'}, {'start': '334.160', 'end': '338.640', 'text': 'instructions for the preparation\xa0\nof that component of the report.'}, {'start': '340.720', 'end': '346.160', 'text': 'Now that is a good segway into navigating\xa0\nthe BARS manual. To get to the manual,'}, {'start': '346.160', 'end': '350.960', 'text': 'you will go back to the SAO homepage sao.wa.gov,'}, {'start': '350.960', 'end': '361.520', 'text': 'then click the BARS & Annual Filing tab at\xa0\nthe top, and select the BARS GAAP manual'}, {'start': '361.520', 'end': '366.240', 'text': 'Let’s do a quick overview of the four\xa0\nmain sections of the BARS manual before'}, {'start': '366.240', 'end': '372.560', 'text': 'digging deeper into the sections. The four main\xa0\nsections of the BARS manual are Chart of Accounts,'}, {'start': '372.560', 'end': '377.680', 'text': 'Budgeting, Accounting, and Reporting.\xa0\nYou can see 3 of the main sections,'}, {'start': '377.680', 'end': '385.200', 'text': 'Budgeting Accounting and Reporting\xa0\nare the B-A-R from our BARS acronym.'}, {'start': '385.200', 'end': '389.280', 'text': 'Once you have selected the BARS\xa0\nManual, this is the page you will see.'}, {'start': '389.280', 'end': '394.400', 'text': 'This landing page gives you some background\xa0\ninformation on the BARS manual. You can also'}, {'start': '394.400', 'end': '398.240', 'text': 'print the manual by clicking the\xa0\nbutton in the top right corner um'}, {'start': '398.240', 'end': '403.760', 'text': 'the blue button that says “download this\xa0\nmanual as PDF.” I know some of you like to'}, {'start': '403.760', 'end': '410.000', 'text': 'have physical copy to make notes and highlights\non, so we do have that option available for you.'}, {'start': '410.000', 'end': '414.720', 'text': 'The navigation panel is on the left\xa0\nside of the page. You can see there are'}, {'start': '414.720', 'end': '420.320', 'text': 'the 4 sections we mentioned a moment ago:\xa0\nChart of Accounts, Budgeting, Accounting,'}, {'start': '420.320', 'end': '430.560', 'text': 'Reporting. In addition to those, we also have\xa0\nthe Table of Contents, and Alerts & Changes.'}, {'start': '430.560', 'end': '433.520', 'text': 'First is the Charts of Accounts and this is where'}, {'start': '433.520', 'end': '438.080', 'text': 'you’ll find all relevant\xa0\nguidance on BARS accounts.'}, {'start': '438.080', 'end': '442.800', 'text': 'For this training, we’ll primarily be\xa0\nfocused on the BARS account export page'}, {'start': '442.800', 'end': '446.960', 'text': 'where you can download the full chart\xa0\nof accounts for your government type'}, {'start': '446.960', 'end': '452.560', 'text': 'and basis of accounting. And we will talk\xa0\nabout more on that in the next few slides.'}, {'start': '452.560', 'end': '454.880', 'text': 'Other things you can find here:'}, {'start': '454.880', 'end': '460.000', 'text': 'Guidance on the basic structure of a BARS\xa0\ncode, the applicability of those codes,'}, {'start': '460.000', 'end': '466.400', 'text': 'what the different categories of codes are,\xa0\nrevenue sources, expenditure functions, etc.'}, {'start': '466.400', 'end': '471.520', 'text': 'For those GAAP governments that report\xa0\nproprietary activity, you can also find guidance'}, {'start': '471.520', 'end': '478.000', 'text': 'on determining non-operating\xa0and operating\nrevenues and expenses and this includes a'}, {'start': '478.000', 'end': '485.120', 'text': 'matrix that identifies the classifications\xa0\nas they are reflected in the filing system.'}, {'start': '485.120', 'end': '492.480', 'text': 'Now let’s look closer at the BARS account exports\xa0\npage. So when you see and are in the BARS manual,'}, {'start': '492.480', 'end': '499.280', 'text': 'click Charts of Accounts and\xa0\nthen select BARS Account export.'}, {'start': '499.280', 'end': '503.360', 'text': 'At the very bottom of the page\xa0\nyou’ll see this set of options.'}, {'start': '503.360', 'end': '508.560', 'text': 'First select your government type.\xa0\nIf you’re a city select city/town,'}, {'start': '508.560', 'end': '513.280', 'text': 'if you’re a fire district select fire\xa0\nprotection district, and so on. This'}, {'start': '513.280', 'end': '518.720', 'text': 'step is really important and will help you to\xa0\nfill out the Schedule 01 template if needed.'}, {'start': '518.720', 'end': '520.800', 'text': 'Then you’ll select your government’s basis of'}, {'start': '520.800', 'end': '526.640', 'text': 'accounting and since you’re watching this\xa0\nrecorded training, you report as GAAP.'}, {'start': '526.640', 'end': '534.240', 'text': 'Now for export type, you can choose whether\xa0\nyou want excel or PDF. The PDF version is nice'}, {'start': '534.240', 'end': '539.120', 'text': 'because it’s print ready, so if you like\xa0\nto print it and make handwritten notes,'}, {'start': '539.120', 'end': '545.200', 'text': "that might be your choice it's also more\xa0\num reader friendly. The excel version"}, {'start': '545.200', 'end': '549.760', 'text': 'is nice because it’s easy to filter\xa0\nand sort the codes and you can make'}, {'start': '549.760', 'end': '558.160', 'text': 'electronic notes and things like that, so then the\nexcel version might be the best option for you.'}, {'start': '558.160', 'end': '563.040', 'text': 'Reporting level has two options. “Above\xa0\nand Prescribed” and “Prescribed Only.”'}, {'start': '563.040', 'end': '568.240', 'text': 'If you select PDF, you’ll automatically\xa0\nget “Above and Prescribed”. But even'}, {'start': '568.240', 'end': '573.840', 'text': 'if you select Excel,\xa0\xa0we do recommend\xa0\nleaving it as "Above and Prescribed".'}, {'start': '573.840', 'end': '577.040', 'text': 'And we will talk more about that in just a moment.'}, {'start': '577.040', 'end': '583.760', 'text': 'And after you make your selections,\xa0\nclick download BARS accounts.'}, {'start': '583.760', 'end': '588.560', 'text': 'And now we are going to look at the difference\xa0\nbetween the BARS account export and the Schedule'}, {'start': '588.560', 'end': '594.880', 'text': '01. The image on the left is a snippet of\xa0\nthe BARS account export in PDF and on the'}, {'start': '594.880', 'end': '600.560', 'text': 'right is the Schedule 01 template in Excel.\xa0\nThe BARS account export will include all'}, {'start': '600.560', 'end': '605.840', 'text': 'available codes for your government type\xa0\nand basis of accounting and includes the'}, {'start': '605.840', 'end': '611.920', 'text': 'definition of each code. This is helpful to\xa0\nuse when preparing the Schedule 01 because as'}, {'start': '611.920', 'end': '618.800', 'text': 'you can see, the template does not include the\xa0\ndefinitions of the codes, only the code title.'}, {'start': '618.800', 'end': '623.280', 'text': "Now let's go back and talk about the\xa0\ndifference between “above and prescribed”"}, {'start': '623.280', 'end': '630.080', 'text': 'and just “prescribed only” let’s use this image\xa0\nof the PDF to show what the differences are.'}, {'start': '630.080', 'end': '636.480', 'text': 'To file your annual report for a Restricted\xa0\nNet Position you would need to use the code'}, {'start': '636.480', 'end': '646.160', 'text': '308.19.00 this is the prescribed code. Above\xa0\nprescribed would just be the 308 portion of'}, {'start': '646.160', 'end': '653.520', 'text': 'the code which is beginning balances. As you can\xa0\nsee in the PDF image above prescribed gives you'}, {'start': '653.520', 'end': '661.280', 'text': 'some information about what the 308 codes record\xa0\nand then move on to the prescribed codes. That'}, {'start': '661.280', 'end': '667.600', 'text': 'information about beginning balances would not be\xa0\nincluded in the prescribed only download. That is'}, {'start': '667.600', 'end': '673.360', 'text': 'the main difference between the two, is that\xa0\n"prescribed only" gives you the codes needed'}, {'start': '673.360', 'end': '679.840', 'text': 'to file only while the "above and prescribed"\ngives you information about each family of codes.'}, {'start': '679.840', 'end': '686.160', 'text': "And that can be really helpful when trying to\xa0\nunderstand your government's chart of accounts."}, {'start': '687.600', 'end': '692.240', 'text': 'Now we’re moving on to the Accounting\xa0\nsection in the BARS manual. This is'}, {'start': '692.240', 'end': '696.240', 'text': 'the best place to start if you are\xa0\never thinking “how do I record this'}, {'start': '696.240', 'end': '701.440', 'text': 'transaction?” because having the correct\xa0\naccounting for your transaction helps to'}, {'start': '701.440', 'end': '707.200', 'text': 'ensure that your annual report is\xa0\naccurate when you report to SAO.'}, {'start': '707.200', 'end': '711.520', 'text': 'Some highlights to remember for this\xa0\nsection include accounting guidance'}, {'start': '711.520', 'end': '717.840', 'text': 'on how to account for liabilities such as\xa0\ncompensated absences, pension liabilities,'}, {'start': '717.840', 'end': '723.280', 'text': 'etc. Also an area we get a lot of questions\xa0\non is how to account for interfund'}, {'start': '723.280', 'end': '730.240', 'text': 'activities such as interfund transfers,\xa0\ninterfund loans, reimbursements, etc.'}, {'start': '731.360', 'end': '737.040', 'text': 'Another area worth noting in the accounting\xa0\nsection is the accounting principles guidance'}, {'start': '737.040', 'end': '741.600', 'text': 'which is found under “Accounting\xa0\nPrinciples and Internal Controls”.'}, {'start': '741.600', 'end': '745.760', 'text': 'In here you will find guidance on\xa0\nthe new error correction codes which'}, {'start': '745.760', 'end': '754.480', 'text': 'replaced the prior period adjustments\xa0\ncodes effective fiscal year 2024.'}, {'start': '754.480', 'end': '759.200', 'text': 'Then we have the reporting section.\xa0\nThere is a ton of great guidance in here,'}, {'start': '759.200', 'end': '764.720', 'text': 'especially since we are focusing on the\xa0\nreporting requirements for the annual report.'}, {'start': '764.720', 'end': '768.480', 'text': 'Some key things to remember\xa0\nin this section include:'}, {'start': '768.480', 'end': '773.680', 'text': 'Reporting principles and requirements and\xa0\nthis includes an overview of the annual'}, {'start': '773.680', 'end': '780.800', 'text': 'reporting requirements based on your government\xa0\ntype. This will give you a general idea of the'}, {'start': '780.800', 'end': '786.400', 'text': 'components required for your report but\xa0\neach component may have specific criteria'}, {'start': '786.400', 'end': '794.080', 'text': 'that you’ll need to evaluate to determine\xa0\nif it applies to your government or not.'}, {'start': '794.080', 'end': '800.800', 'text': 'Then we have the supplementary & other information\xa0\nand SAO annual report schedules this will include'}, {'start': '800.800', 'end': '808.640', 'text': 'instructions on how to prepare each component of\xa0\nthe annual report such as Schedule 01, 09, etc.'}, {'start': '808.640', 'end': '814.480', 'text': 'This is just the guidance for how to report the\xa0\ninformation and fill out those templates. We will'}, {'start': '814.480', 'end': '823.280', 'text': 'be spending more time in this section as we go\xa0\nsince we’re focusing on the reporting aspect.'}, {'start': '823.280', 'end': '827.040', 'text': 'That takes us to the final tab, Alerts & Changes.'}, {'start': '827.040', 'end': '833.120', 'text': 'Every year we review the BARS Manual and make\xa0\nchanges to clarify existing guidance or add\xa0in'}, {'start': '833.120', 'end': '839.040', 'text': 'new guidance. The Alerts & Changes section\xa0\ngives a detailed description of what changed.'}, {'start': '839.040', 'end': '844.640', 'text': 'I highly recommend you review this page every\xa0\nyear so that you know what changes were made!'}, {'start': '844.640', 'end': '848.960', 'text': 'And as you can see the BARS\xa0\nAlerts and Changes does have'}, {'start': '848.960', 'end': '856.640', 'text': 'a section for what changed in for effective 2024'}, {'start': '856.640', 'end': '861.920', 'text': 'We just did a very high level overview of\xa0\nwhere to find specific topics in the BARS'}, {'start': '861.920', 'end': '867.520', 'text': 'manual but we also have a search function\xa0\ndirectly in the manual. When searching for'}, {'start': '867.520', 'end': '874.000', 'text': 'BARS related topics or codes remember to use\xa0\nthe search in the BARS Manual. You can see'}, {'start': '874.000', 'end': '882.160', 'text': 'that the text will say “Search BARS GAAP”\xa0and\xa0\nthat indicates you are in the right place.'}, {'start': '882.160', 'end': '887.200', 'text': 'As part of this recorded training, we will\xa0\nhave the occasional activity or exercise'}, {'start': '887.200', 'end': '890.880', 'text': 'that we will walk-through together\xa0\nand these are just designed to help'}, {'start': '890.880', 'end': '895.360', 'text': 'make sure everyone is understanding\xa0\nthe learning objectives as we go.'}, {'start': '895.360', 'end': '899.440', 'text': 'And for this activity, we are going to\xa0\nexplore the search function a little'}, {'start': '899.440', 'end': '904.480', 'text': 'deeper. And as a viewer you have the\xa0\noption to pause the recorded training'}, {'start': '904.480', 'end': '910.160', 'text': 'as needed to participate in this exercise\xa0\nor you can simply follow along with us.'}, {'start': '910.720', 'end': '922.240', 'text': 'So in the BARS Manual search, we are going to type\xa0\nin “drainage” to see what search results we get.'}, {'start': '922.240', 'end': '930.240', 'text': 'Once you search the term “drainage”, you should\xa0\nsee BARS code 53100 listed in the search results.'}, {'start': '930.240', 'end': '935.520', 'text': 'Based on the description, it sounds like the\xa0\ncorrect code to use for what we need to report.'}, {'start': '935.520', 'end': '939.760', 'text': 'But how can you confirm it’s valid\xa0\nfor your specific government type?'}, {'start': '939.760', 'end': '943.760', 'text': 'To confirm if this code is valid\xa0\nfor your government to use,'}, {'start': '943.760', 'end': '948.720', 'text': 'you should download the chart of accounts\xa0\nfor your specific government type and basis'}, {'start': '948.720', 'end': '954.240', 'text': 'of accounting. If it is listed there,\xa0\nthat means it’s valid for you to use.'}, {'start': '954.240', 'end': '959.600', 'text': 'And the purpose of this exercise is to show\xa0\nthat although the search function is great'}, {'start': '959.600', 'end': '965.920', 'text': 'and can be very helpful, it’s also important to\xa0\nremember that just because a code comes up in the'}, {'start': '965.920', 'end': '972.240', 'text': 'search results, doesn’t automatically\xa0\nmean it’s valid for your government.'}, {'start': '972.240', 'end': '979.440', 'text': 'Now we’ll spend most of our time in\nhere, preparing the annual report components.'}, {'start': '980.480', 'end': '984.720', 'text': 'Th first component we’re going to talk\xa0\nabout is the Schedule 01. Other than'}, {'start': '984.720', 'end': '989.840', 'text': 'the preparation of your actual financial\xa0\nstatement package, the Schedule 01 is the'}, {'start': '989.840', 'end': '995.760', 'text': 'biggest component of the report and required\xa0\nfor all local governments. The purpose of this'}, {'start': '995.760', 'end': '1001.920', 'text': 'schedule is to report the government’s financial\xa0\nactivity for the reporting year. This includes,'}, {'start': '1001.920', 'end': '1008.560', 'text': 'beginning balance, revenues, expenditures,\xa0\nand ending balances for all reportable funds.'}, {'start': '1008.560', 'end': '1014.160', 'text': 'This financial activity is reported using\xa0\nBARS accounts to identify the specific type'}, {'start': '1014.160', 'end': '1020.640', 'text': 'of function or activity the transaction is\xa0\nsupporting or the source of the revenue.'}, {'start': '1020.640', 'end': '1026.000', 'text': 'Even though we won’t be getting into the filing\xa0\nsystem aspect today, it is important to know that'}, {'start': '1026.000', 'end': '1033.520', 'text': 'each fund reported on the Schedule 01 must balance\xa0\nwithin $1,000 in order to submit the report.'}, {'start': '1033.520', 'end': '1036.800', 'text': 'You may remember when we talked\xa0\nabout the templates page,'}, {'start': '1036.800', 'end': '1042.560', 'text': 'you can find a Schedule 01 template for\xa0\nall local government types except cities,'}, {'start': '1042.560', 'end': '1046.640', 'text': 'towns and counties. There is no\xa0\ntemplate for these government types'}, {'start': '1046.640', 'end': '1053.600', 'text': 'because they utilize the entire chart\xa0\nof accounts and report various funds.'}, {'start': '1053.600', 'end': '1058.560', 'text': 'For GAAP governments, it’s basically a\xa0\ncrosswalk from their financial statements'}, {'start': '1058.560', 'end': '1065.680', 'text': 'into the Schedule 01 but utilizing the prescribed\xa0\nBARS codes. It also includes a summary of your'}, {'start': '1065.680', 'end': '1072.080', 'text': 'balance sheet transactions, such as assets,\xa0\nliabilities, deferred inflows and outflows.'}, {'start': '1072.080', 'end': '1077.200', 'text': 'One of the most important ways we utilize\xa0\nthe Schedule 01 is we publish this data on'}, {'start': '1077.200', 'end': '1083.920', 'text': 'our external website so it’s available for anyone\xa0\nto see. Our office strives to be transparent and'}, {'start': '1083.920', 'end': '1090.160', 'text': 'this is one way we achieve that mission so it’s\xa0\nimportant that the data we collect is accurate.'}, {'start': '1090.160', 'end': '1096.800', 'text': 'SAO is actually required by state law to produce\xa0\nand publish comparative statistics for all local'}, {'start': '1096.800', 'end': '1103.600', 'text': 'governments and in order to do that, we utilize\xa0\nthe Schedule 01 data because the use of BARS codes'}, {'start': '1103.600', 'end': '1110.880', 'text': 'helps make the data we collect uniform and easily\xa0\ncomparable across all government types. We publish'}, {'start': '1110.880', 'end': '1118.320', 'text': 'the data on our website via the Financial\xa0\nIntelligence Tool, also referred to as FIT.'}, {'start': '1119.520', 'end': '1125.520', 'text': 'Now let’s define what balance sheet accounts\xa0\nare and what they are used for. Within each'}, {'start': '1125.520', 'end': '1130.880', 'text': 'local government’s chart of accounts you’ll\xa0\nfind a series of 800 codes which are referred'}, {'start': '1130.880', 'end': '1136.560', 'text': 'to as the balance sheet accounts and are used\xa0\nto report information from the balance sheet'}, {'start': '1136.560', 'end': '1143.200', 'text': 'or statement of net position, such as current &\xa0\nnoncurrent assets, deferred inflows & outflows,'}, {'start': '1143.200', 'end': '1150.640', 'text': 'current & noncurrent liabilities. These codes are\xa0\napplicable to all GAAP funds, except fiduciary.'}, {'start': '1150.640', 'end': '1154.080', 'text': 'It is important to note that you\xa0\nmust use the balance sheet and/or'}, {'start': '1154.080', 'end': '1158.400', 'text': 'statement of net position from the\xa0\nGAAP proprietary and governmental'}, {'start': '1158.400', 'end': '1164.240', 'text': 'fund financial statements and NOT\xa0\nthe government-wide statements'}, {'start': '1164.240', 'end': '1170.400', 'text': 'Now let’s talk about memorandum accounts which\xa0\nare only applicable to GAAP proprietary funds.'}, {'start': '1170.400', 'end': '1176.480', 'text': 'These accounts are used to report financial\xa0\nactivity related to debt and capital assets'}, {'start': '1176.480', 'end': '1182.240', 'text': 'which are not reported in the operating\xa0\nstatement but provide valuable information.'}, {'start': '1182.240', 'end': '1187.360', 'text': 'The collection of this data is necessary\xa0\nfor producing comparative statistics,'}, {'start': '1187.360', 'end': '1194.240', 'text': 'which the State Auditor’s Office is required to do\xa0\nbased on state law. Essentially, these memorandum'}, {'start': '1194.240', 'end': '1200.720', 'text': 'accounts are used for informational purposes only\xa0\nand provide valuable financial data that we would'}, {'start': '1200.720', 'end': '1207.200', 'text': 'not be able to collect otherwise. Since these\xa0\naccounts are for informational purposes only,'}, {'start': '1207.200', 'end': '1215.200', 'text': 'amounts reported to them do not impact the\xa0\nbalancing requirement of your Schedule 01.'}, {'start': '1215.200', 'end': '1221.760', 'text': 'Now let’s look at the memorandum accounts for\xa0\ndebt related activities a little more closely.'}, {'start': '1221.760', 'end': '1228.880', 'text': 'When debt is issued in a GAAP proprietary fund, no\xa0\nrevenue or inflow is recorded on the Statement of'}, {'start': '1228.880', 'end': '1235.760', 'text': 'Revenues, Expenses, and Changes in Net Position.\xa0\nHistorically, since this activity is not recorded'}, {'start': '1235.760', 'end': '1241.600', 'text': 'on the operating statement it would have been\xa0\nomitted from the Schedule 01 to avoid balancing'}, {'start': '1241.600', 'end': '1247.920', 'text': 'issues that prevented submission of the report.\xa0\nWithout the use of these memorandum accounts,'}, {'start': '1247.920', 'end': '1253.760', 'text': 'it would appear as though GAAP proprietary\xa0\nfunds never issued any debt and that skews'}, {'start': '1253.760', 'end': '1260.000', 'text': 'the comparative statistics. Now with the use of\xa0\nmemorandum accounts, we can remain transparent to'}, {'start': '1260.000', 'end': '1266.880', 'text': 'our constituents and see the accurate amount\xa0\nof debt issued across all local governments.'}, {'start': '1268.080', 'end': '1273.520', 'text': 'And just like when debt is issued, when debt\xa0\nis paid or capital assets are purchased in a'}, {'start': '1273.520', 'end': '1279.440', 'text': 'GAAP proprietary fund, no expense or outflow\xa0\nis recorded on the Statement of Revenues,'}, {'start': '1279.440', 'end': '1284.880', 'text': 'Expenses, and Changes in Net Position. The\xa0\nuse of these memorandum accounts report'}, {'start': '1284.880', 'end': '1290.800', 'text': 'the amount paid on debt and capital related\xa0\npayments and are collected for informational'}, {'start': '1290.800', 'end': '1298.080', 'text': 'purposes only to allow us to meet that statutory\xa0\nrequirement for producing comparative statistics.'}, {'start': '1298.080', 'end': '1301.600', 'text': 'As you can see, these memorandum\xa0\naccounts are the same ones you'}, {'start': '1301.600', 'end': '1305.840', 'text': 'use to report these activities in\xa0\nyour governmental funds, however,'}, {'start': '1305.840', 'end': '1310.480', 'text': 'the difference is when they are\xa0\nreported in GAAP proprietary funds,'}, {'start': '1310.480', 'end': '1319.200', 'text': 'the annual filing system automatically knows\xa0\nto omit them from the system balancing check.'}, {'start': '1319.200', 'end': '1324.320', 'text': 'And if you need further guidance on this ,\xa0\nwe do have a short 5-minute recorded training'}, {'start': '1324.320', 'end': '1329.760', 'text': 'available just on the memorandum accounts\xa0\nand balance sheet accounts. This training'}, {'start': '1329.760', 'end': '1338.400', 'text': 'can be found on our training & workshops page\xa0\nin the eLearnings library under BARS library.'}, {'start': '1338.400', 'end': '1343.440', 'text': 'And when uploading the completed Schedule\xa0\n01 template, it is important that its in'}, {'start': '1343.440', 'end': '1348.640', 'text': 'the correct format. When you navigate\xa0\nto the BARS reporting templates page,'}, {'start': '1348.640', 'end': '1354.000', 'text': 'all templates are pre-formatted for easy\xa0\nupload so the intent is for you to only'}, {'start': '1354.000', 'end': '1360.000', 'text': 'input data where applicable and not alter\xa0\nany of the basic formatting. That means no'}, {'start': '1360.000', 'end': '1366.320', 'text': 'additional headers, sub-totals, etc.\xa0\nThis applies to all SAO templates.'}, {'start': '1366.320', 'end': '1371.760', 'text': 'And this is an example of the basic\xa0\nformat of the Schedule 01. As you can see,'}, {'start': '1371.760', 'end': '1377.840', 'text': 'it is very basic and used only to import\xa0\nthe data into the filing system. Columns'}, {'start': '1377.840', 'end': '1385.440', 'text': 'A-E must be formatted as text and do not delete\xa0\nor add any columns. Column F must be formatted'}, {'start': '1385.440', 'end': '1393.200', 'text': 'as “number” and then delete any rows that do not\xa0\napply or you can input “0” in the amount field.'}, {'start': '1393.200', 'end': '1400.080', 'text': 'And when uploaded into the filing system it will\xa0\nremove those line items with a "0" in the amount'}, {'start': '1400.080', 'end': '1405.920', 'text': 'except for the memorandum account line items\xa0\neven if that amount is "0" the filing system'}, {'start': '1405.920', 'end': '1413.280', 'text': 'will retain that. When completing the Schedule\xa0\n01, it’s important to utilize the instructions'}, {'start': '1413.280', 'end': '1419.040', 'text': 'in the BARS manual. This is a snippet of how\xa0\nyou can find those – and these instructions'}, {'start': '1419.040', 'end': '1425.920', 'text': 'also include the guidance for reporting\xa0\nmemorandum accounts on the Schedule 01.'}, {'start': '1425.920', 'end': '1431.280', 'text': 'We are still talking about the Schedule 01 –As\xa0\nI mentioned it is a very important component'}, {'start': '1431.280', 'end': '1437.600', 'text': 'of the report! – but the focus in this section is\xa0\nvisualizing the connection between your financial'}, {'start': '1437.600', 'end': '1447.280', 'text': 'statements and the Schedule 01. So we are going\xa0\nto demonstrate how that crosswalk process works.'}, {'start': '1447.280', 'end': '1451.040', 'text': 'This is an example of a crosswalk\xa0\nfrom the Statement of Revenue,'}, {'start': '1451.040', 'end': '1456.000', 'text': 'Expenses, and Changes in Fund Net\xa0\nPosition into the Schedule 01.'}, {'start': '1456.000', 'end': '1461.200', 'text': 'The image on the left of your screen is a snippet\xa0\nof the statement of changes for a GAAP water'}, {'start': '1461.200', 'end': '1467.840', 'text': 'district and on the right is a snippet of the\xa0\nSchedule 01 template for a GAAP water district.'}, {'start': '1467.840', 'end': '1475.680', 'text': 'And while looking at the screen you will see red\xa0\nnumbers on both images. The red numbers correspond'}, {'start': '1475.680', 'end': '1481.120', 'text': 'to where that line item is\xa0\nreported on the Schedule 01'}, {'start': '1481.120', 'end': '1485.920', 'text': 'and you will notice that some of the red numbers\xa0\nare duplicated which indicates amounts that'}, {'start': '1485.920', 'end': '1493.440', 'text': 'need to either be consolidated or separated into\xa0\nfurther detail for reporting on the Schedule 01.'}, {'start': '1493.440', 'end': '1499.440', 'text': 'And looking at the statement, you will see\xa0\nthe red number 1 for water sales then over'}, {'start': '1499.440', 'end': '1505.600', 'text': 'on the Schedule 01 you’ll also see the red\xa0\nnumber 1 as well. You would take that $3'}, {'start': '1505.600', 'end': '1513.200', 'text': 'million dollar amount and report it over on the\xa0\nSchedule 01 for water sales and services revenue.'}, {'start': '1513.200', 'end': '1519.680', 'text': 'And then moving down to operating expenses, I\xa0\nwanted to point that depreciation and amortization'}, {'start': '1519.680', 'end': '1527.200', 'text': 'lines which have the red number 3. These will\xa0\nneed to be consolidated and reported over on the'}, {'start': '1527.200', 'end': '1535.280', 'text': 'Schedule 01 to the applicable 501 BARS code for\xa0\ndepreciation and amortization for water utilities.'}, {'start': '1535.840', 'end': '1540.800', 'text': 'One good double check here to confirm\xa0\nthe Schedule 01 accurately ties to the'}, {'start': '1540.800', 'end': '1547.040', 'text': 'statement is the total operating expenses on\xa0\nthe statement in that purple box should be'}, {'start': '1547.040', 'end': '1555.840', 'text': 'the same as the total amounts reported over\xa0\non the 01 example also within a purple box.'}, {'start': '1555.840', 'end': '1560.480', 'text': 'The last thing before we move on, if you\xa0\nremember those memorandum accounts we just'}, {'start': '1560.480', 'end': '1566.080', 'text': 'talked about I wanted to point out a couple\xa0\nof those on the Schedule 01 example as shown'}, {'start': '1566.080', 'end': '1572.560', 'text': 'by those 2 red arrows. These line items\xa0\nfor debt and capital outlay these are the'}, {'start': '1572.560', 'end': '1578.880', 'text': "memorandum accounts for a GAAP proprietary\xa0\nfund and so as you can see you won't find"}, {'start': '1578.880', 'end': '1583.680', 'text': 'that information on this statement but\xa0\nremember it is required to be reported'}, {'start': '1583.680', 'end': '1590.000', 'text': 'on the Schedule 01. Even if\xa0\nthe amount is truly zero.'}, {'start': '1590.000', 'end': '1595.520', 'text': "We are still talking about proprietary funds\xa0\nbut let's move over to the crosswalk from the"}, {'start': '1595.520', 'end': '1599.040', 'text': 'statement of net position into the Schedule 01.'}, {'start': '1599.040', 'end': '1604.480', 'text': 'You will see on the Schedule 01 example there\xa0\nis the series of 800 codes used to report the'}, {'start': '1604.480', 'end': '1608.960', 'text': 'government’s assets, liabilities,\xa0\nand deferred outflows and inflows.'}, {'start': '1608.960', 'end': '1612.240', 'text': 'You will follow the red numbers\xa0\non the statement and where they'}, {'start': '1612.240', 'end': '1616.160', 'text': 'correspond to on the Schedule\xa0\n01. Looking at the statement,'}, {'start': '1616.160', 'end': '1622.800', 'text': 'you’ll see two line items with the red number 8\xa0\nfor cash & cash equivalents so those would need'}, {'start': '1622.800', 'end': '1629.600', 'text': 'to be consolidated and reported to the\xa0\ncorresponding line on the Schedule 01.'}, {'start': '1629.600', 'end': '1635.040', 'text': 'And a good double check here as well is the\xa0\namount on the statement for total assets'}, {'start': '1635.040', 'end': '1644.080', 'text': 'should match to the total reported to the\xa0\nred number 8 and 9 over on the Schedule 01.'}, {'start': '1644.080', 'end': '1649.200', 'text': 'We are going to move on to the crosswalk for\xa0\ngovernmental funds now. I will move a little'}, {'start': '1649.200', 'end': '1654.880', 'text': 'more quickly through this because the basic\xa0\nconcept is the exact same but the governmental'}, {'start': '1654.880', 'end': '1661.120', 'text': 'crosswalk it is a but more simplified since\xa0\nwe are not dealing with memorandum accounts.'}, {'start': '1661.120', 'end': '1665.360', 'text': 'On the left of your screen, you’ll see\xa0\na snapshot of the Statement of Revenues,'}, {'start': '1665.360', 'end': '1670.880', 'text': 'Expenditures, and Changes in Fund Balances\xa0\nfor a GAAP health district that reports as'}, {'start': '1670.880', 'end': '1673.920', 'text': 'a governmental fund. On the right of your screen,'}, {'start': '1673.920', 'end': '1679.840', 'text': 'it is a snippet of the Schedule 01 template for\xa0\na GAAP health district. Same thing as before,'}, {'start': '1679.840', 'end': '1686.160', 'text': 'the red numbers on the statement correspond\xa0\nto the red numbers on the Schedule 01 example.'}, {'start': '1686.160', 'end': '1691.680', 'text': 'Looking at the first line item on the\xa0\nstatement, this is for licenses and permits.'}, {'start': '1691.680', 'end': '1696.800', 'text': 'Depending on what exactly is included\xa0\nin this, there may be multiple BARS'}, {'start': '1696.800', 'end': '1702.000', 'text': 'codes used on the Schedule 01 but for the\xa0\npurposes of this training we are going to'}, {'start': '1702.000', 'end': '1709.840', 'text': 'lump it all into other non-business licenses\xa0\nand permits over there on the Schedule 01.'}, {'start': '1709.840', 'end': '1714.880', 'text': 'Then moving down to expenditures,\xa0\ndepending on your specific statement'}, {'start': '1714.880', 'end': '1720.400', 'text': 'these might be at a higher level of detail\xa0\nthan what is needed for the Schedule 01.'}, {'start': '1720.400', 'end': '1726.880', 'text': 'You will want to either separate or consolidate\xa0\namounts so you’re reporting salaries, benefits,'}, {'start': '1726.880', 'end': '1734.720', 'text': 'supplies and services then any\xa0\ndebt or capital as it applies.'}, {'start': '1734.720', 'end': '1740.480', 'text': 'Last thing is the governmental crosswalk from\xa0\nthe balance sheet into the Schedule 01. Again,'}, {'start': '1740.480', 'end': '1747.760', 'text': 'same concept as before each red number corresponds\xa0\nto the applicable line item on the Schedule 01.'}, {'start': '1747.760', 'end': '1750.880', 'text': 'Looking at the statement on the\xa0\nleft, you’ll see there are two'}, {'start': '1750.880', 'end': '1758.160', 'text': 'number 9s which would be consolidated to\xa0\nreport one line item on the Schedule 01.'}, {'start': '1758.160', 'end': '1760.800', 'text': 'Then looking at the total liabilities with'}, {'start': '1760.800', 'end': '1767.760', 'text': 'the number 11 is just copied right\xa0\nover into the Schedule 01 as shown.'}, {'start': '1767.760', 'end': '1772.560', 'text': 'Now that includes, concludes our\xa0\ncrosswalk section of today and I'}, {'start': '1772.560', 'end': '1776.960', 'text': 'know this is a lot of information\xa0\nso please utilize the BARS manual'}, {'start': '1776.960', 'end': '1783.440', 'text': 'guidance or reach out for questions\xa0\nor assistance with your annual report.'}, {'start': '1783.440', 'end': '1789.280', 'text': 'Now let’s move on to the Schedule 09 also\xa0\nknown as the Schedule of Liabilities. As the'}, {'start': '1789.280', 'end': '1794.240', 'text': 'name suggests this is used to report\xa0\nlocal government’s liabilities. Both'}, {'start': '1794.240', 'end': '1799.600', 'text': 'current and noncurrent liabilities\xa0\nshould be reported on this schedule.'}, {'start': '1799.600', 'end': '1806.240', 'text': 'Some examples of liabilities reported on\xa0\nthis schedule are loans, bonds, pension,'}, {'start': '1806.240', 'end': '1810.960', 'text': 'environmental liabilities, OPEB\xa0\nliabilities, leases, and SBITA.'}, {'start': '1810.960', 'end': '1817.280', 'text': 'When reporting debt, only the face value of\xa0\nthe principal will be reported. Do not include'}, {'start': '1817.280', 'end': '1823.200', 'text': 'any items like interest, issuance\xa0\ncosts, premiums or discounts, etc.'}, {'start': '1823.200', 'end': '1829.760', 'text': 'It is really important to utilize the Schedule 09\xa0\ninstructions to identify the correct ID number to'}, {'start': '1829.760', 'end': '1836.320', 'text': 'use that best matches the type of liability being\xa0\nreported. There are three debt categories that you'}, {'start': '1836.320', 'end': '1843.360', 'text': 'should review to locate the correct ID number\xa0\nthat is General obligation liabilities, which'}, {'start': '1843.360', 'end': '1849.360', 'text': 'means you have pledged the full faith and taxing\xa0\nauthority of your government to pay the debt,'}, {'start': '1849.360', 'end': '1857.760', 'text': 'then we have revenue and other non GO debt,\xa0\nand assessment liabilities with commitments'}, {'start': '1857.760', 'end': '1863.760', 'text': 'The Schedule 09 is a really good example of\xa0\nhow items are split in the BARS manual. The'}, {'start': '1863.760', 'end': '1869.960', 'text': 'instructions provide guidance on how to report\xa0\nthe local government’s liabilities on the Schedule'}, {'start': '1869.960', 'end': '1876.240', 'text': '09 for the annual report, which is why it’s\xa0\nin the reporting section of the BARS manual.'}, {'start': '1876.240', 'end': '1879.840', 'text': 'But the actual accounting or\xa0\ncalculation of liabilities'}, {'start': '1879.840', 'end': '1883.760', 'text': 'is found in the accounting\xa0\nsection of the BARS manual.'}, {'start': '1883.760', 'end': '1887.520', 'text': 'Let’s use pension as an\xa0\nexample since it\xa0does impact'}, {'start': '1887.520', 'end': '1892.720', 'text': 'most governments. The Schedule 09\xa0\ninstructions provide the ID numbers'}, {'start': '1892.720', 'end': '1898.160', 'text': 'to report the pension liabilities\xa0\non the Schedule 09, but the actual'}, {'start': '1898.160', 'end': '1904.880', 'text': 'calculation and accounting guidance is in\xa0\nthe accounting section under liabilities.'}, {'start': '1906.080', 'end': '1909.280', 'text': 'Now that we know where to find the\xa0\naccounting and reporting guidance'}, {'start': '1909.280', 'end': '1914.720', 'text': 'and instructions for Schedule 09, it is time\xa0\nto fill out the template. This is an example'}, {'start': '1914.720', 'end': '1920.240', 'text': 'of the Schedule 09 template and as you can\xa0\nsee, we are not altering the basic format of'}, {'start': '1920.240', 'end': '1926.640', 'text': 'the template because remember, it’s designed\xa0\nto import this data into the filing system.'}, {'start': '1926.640', 'end': '1930.960', 'text': 'When completing the Schedule 09, it’s\xa0\nimportant to utilize the instructions'}, {'start': '1930.960', 'end': '1937.120', 'text': 'to ensure you’re using the correct ID\xa0\nnumbers. You’ll input the ID number,'}, {'start': '1937.120', 'end': '1942.240', 'text': 'input a description of the liability – as\xa0\nyou can see, it doesn’t need to be lengthy,'}, {'start': '1942.240', 'end': '1948.640', 'text': 'then the maturity date this is only required\xa0\nfor certain liabilities, some liabilities,'}, {'start': '1948.640', 'end': '1954.800', 'text': 'such as pension and compensated absences,\xa0\nare excluded from needing a maturity date.'}, {'start': '1954.800', 'end': '1960.320', 'text': 'The maturity date is a fixed date for final\xa0\npayment of the liability so there are some'}, {'start': '1960.320', 'end': '1967.360', 'text': 'liabilities without one and in that case it can\xa0\nbe left blank just do not delete the column.'}, {'start': '1967.360', 'end': '1971.920', 'text': 'When inputting the amounts, it must\xa0\nbe whole dollars and do not include'}, {'start': '1971.920', 'end': '1976.480', 'text': 'any cents. If cents are included, the\xa0\nfiling system will round the amount'}, {'start': '1976.480', 'end': '1981.840', 'text': 'to the nearest dollar when uploaded.\xa0\nHowever, each line item must balance'}, {'start': '1981.840', 'end': '1989.920', 'text': 'within $1 so including cents can cause\xa0\nvariance issues even if very small.'}, {'start': '1990.960', 'end': '1995.360', 'text': 'This is a visual to show the difference\xa0\nbetween the template and what is produced'}, {'start': '1995.360', 'end': '2000.880', 'text': 'by the filing system. The top image is\xa0\nthe Schedule 09 template then once the'}, {'start': '2000.880', 'end': '2006.640', 'text': 'data is imported into the filing system, the\xa0\nsystem will produce a professionally formatted'}, {'start': '2006.640', 'end': '2013.840', 'text': 'version. The formatted version includes the\xa0\nproper headers, totals, debt categories, etc.'}, {'start': '2015.040', 'end': '2020.800', 'text': 'Now that we have learned about the Schedule 09\xa0\nlet’s move on to the Schedule 15. The Schedule'}, {'start': '2020.800', 'end': '2027.520', 'text': '15 is used to report expenditures from awards\xa0\nreceived from state agencies. Since we are'}, {'start': '2027.520', 'end': '2034.720', 'text': 'reporting expenditures you would only report\xa0\nitems on the Schedule 15 the year that there'}, {'start': '2034.720', 'end': '2041.600', 'text': 'expenditures occur which may be different than the\xa0\nyear you received the grant revenue. Since we are'}, {'start': '2041.600', 'end': '2047.920', 'text': 'discussing award money remember to always confirm\xa0\nwith the state agency to see if any portion of the'}, {'start': '2047.920', 'end': '2054.880', 'text': 'award is federal in origin. Federal funding always\xa0\nstays federal and there are instructions on how to'}, {'start': '2054.880', 'end': '2062.800', 'text': 'report any mix of state and federal funding in\xa0\nthe Schedule 15 and Schedule 16 instructions.'}, {'start': '2063.680', 'end': '2069.200', 'text': 'So let’s walk through a quick example to\xa0\nhelp us better understand how the Schedule'}, {'start': '2069.200', 'end': '2078.000', 'text': '15 is completed. In this example, in 2024, Sample\xa0\nCounty spent $50,000 rebuilding roads that were'}, {'start': '2078.000', 'end': '2083.440', 'text': 'damaged in an earthquake. The county applied\xa0\nand was approved for a grant from the state'}, {'start': '2083.440', 'end': '2091.520', 'text': 'department of transportation in the amount\xa0\nof $25,000, which will be received in 2025.'}, {'start': '2091.520', 'end': '2095.680', 'text': 'So the question here is what\xa0\nyear would the county report'}, {'start': '2095.680', 'end': '2101.200', 'text': 'a Schedule 15 as part of their annual report?'}, {'start': '2101.200', 'end': '2107.040', 'text': 'They would report a Schedule\xa0\n15 in their 2024 annual report'}, {'start': '2107.040', 'end': '2111.840', 'text': 'because remember that is the year the\xa0\nexpenditures were recognized. Remember,'}, {'start': '2111.840', 'end': '2118.400', 'text': 'the Schedule 15 should be submitted in\xa0\nthe year the expenses were recognized.'}, {'start': '2118.400', 'end': '2124.880', 'text': 'Then the last question, what amount\xa0\nwould be reported on the Schedule 15?'}, {'start': '2124.880', 'end': '2128.800', 'text': 'The answer is $25,000 because it would only be the'}, {'start': '2128.800', 'end': '2134.960', 'text': 'amount that is or will be\xa0\ncovered by the state grant.'}, {'start': '2134.960', 'end': '2138.480', 'text': 'Now we know the reporting\xa0\nrequirements for the Schedule 15,'}, {'start': '2138.480', 'end': '2141.920', 'text': 'so let’s take a quick look at\xa0\nhow the template is completed.'}, {'start': '2142.720', 'end': '2149.392', 'text': 'To fill out the template you will need the 7-digit\xa0\nprescribed BARS code for the state agency that you'}, {'start': '2149.392', 'end': '2155.680', 'text': 'are reporting for which always is found in your\xa0\nchart of accounts and now you know how to export'}, {'start': '2155.680', 'end': '2161.920', 'text': "that. And this is really important\xa0 because\nthe BARS code is needed and it's not the same"}, {'start': '2161.920', 'end': '2167.920', 'text': 'um if you just input the state agency name Then\xa0\nyou will enter in the Program title which is'}, {'start': '2167.920', 'end': '2174.960', 'text': 'the name of the award program assigned by the\xa0\nstate agency, The Identification number is the'}, {'start': '2174.960', 'end': '2182.000', 'text': 'contract or award numbers assigned by the state\xa0\nagency this can usually be found on the contract'}, {'start': '2182.000', 'end': '2190.000', 'text': 'or agreement. But if you do not have this\xa0please\xa0\nput NA for not applicable in that field and then'}, {'start': '2190.000', 'end': '2199.040', 'text': 'the amount remember this is the amount spent\xa0\nthat is or will be covered by the state grant.'}, {'start': '2199.040', 'end': '2204.320', 'text': 'The Schedule 16 is very similar to the\xa0\nSchedule 15 but now we’re talking about'}, {'start': '2204.320', 'end': '2211.600', 'text': 'federal awards. The Schedule 16, also referred\xa0\nto as the SEFA, is used to report expenditures'}, {'start': '2211.600', 'end': '2218.720', 'text': 'from awards received directly or indirectly from\xa0\nfederal agencies. That is important to remember'}, {'start': '2218.720', 'end': '2225.280', 'text': 'it is only reporting the expenditures that\xa0\nare or will be covered by the federal award.'}, {'start': '2225.280', 'end': '2231.680', 'text': 'Just like Schedule 15, it is reported in the\xa0\nyear that the expenditures were recognized.'}, {'start': '2231.680', 'end': '2236.800', 'text': 'Direct federal awards are received\xa0\ndirectly from the federal agency and'}, {'start': '2236.800', 'end': '2242.480', 'text': 'indirect federal awards are received\xa0\nindirectly from a pass-through entity'}, {'start': '2242.480', 'end': '2247.120', 'text': 'um this is usually a state\xa0\nagency, local government, etc.'}, {'start': '2248.160', 'end': '2252.640', 'text': 'It is very important to prepare this\xa0\nschedule carefully to ensure that it is'}, {'start': '2252.640', 'end': '2256.960', 'text': 'accurate and complete. There are\xa0very\nstrict reporting requirements and'}, {'start': '2256.960', 'end': '2263.680', 'text': 'other criteria that goes into this\xa0\nschedule due to audit requirements.'}, {'start': '2263.680', 'end': '2266.960', 'text': 'When it comes to completing\xa0\nthe Schedule 16 template,'}, {'start': '2266.960', 'end': '2270.000', 'text': 'just like any other template,\xa0\nit is important to not adjust'}, {'start': '2270.000', 'end': '2276.000', 'text': 'the prescribed format. Do not add any\xa0\nadditional columns, totals, sub-totals,'}, {'start': '2276.000', 'end': '2282.800', 'text': 'etc. Remember the templates really are just used\xa0\nto import the data into the online filing system.'}, {'start': '2282.800', 'end': '2287.840', 'text': 'And when filling out this template, you can\xa0\nactually leave the columns for federal agency'}, {'start': '2287.840', 'end': '2294.720', 'text': 'name and program name blank and when\xa0\nyou upload this into the filing system,'}, {'start': '2294.720', 'end': '2299.360', 'text': 'those fields will auto-populate\xa0\nbased on the ALN that you used.'}, {'start': '2299.360', 'end': '2305.120', 'text': 'The filing system has all known and\xa0\ncurrent ALNs programmed in so it helps'}, {'start': '2305.120', 'end': '2312.000', 'text': 'with accuracy and making sure the agency and\xa0\nprogram names are correct based on the ALN.'}, {'start': '2312.000', 'end': '2318.720', 'text': 'I also want to draw your attention quickly to\xa0\ncolumn I for passed through to subrecipients.'}, {'start': '2318.720', 'end': '2323.120', 'text': 'This column can cause some confusion\xa0\nso I just want to point out that this'}, {'start': '2323.120', 'end': '2328.160', 'text': 'column can be left blank if there wasn’t\xa0\nan amount passed that you passed on to a'}, {'start': '2328.160', 'end': '2332.880', 'text': 'sub-recipient of the award. But the\xa0\nmain thing to remember is this is a'}, {'start': '2332.880', 'end': '2339.600', 'text': 'numerical field so it either needs\xa0\nto have an amount or be left blank.'}, {'start': '2339.600', 'end': '2342.000', 'text': 'And here is the final version of the Schedule'}, {'start': '2342.000', 'end': '2346.240', 'text': '16 that gets exported from\xa0\nthe filing system after\xa0\xa0you'}, {'start': '2346.240', 'end': '2351.200', 'text': 'upload the template. So you can see that\xa0\nthe template was really basic and used'}, {'start': '2351.200', 'end': '2357.760', 'text': 'only to import the data but then the filing\xa0\nsystem generates this professional version.'}, {'start': '2357.760', 'end': '2362.640', 'text': 'And as you can see, the federal agency\xa0\nand program names are included and the'}, {'start': '2362.640', 'end': '2370.240', 'text': 'system automatically totals everything and\xa0\nincludes the applicable clusters as well.'}, {'start': '2370.240', 'end': '2374.800', 'text': 'The Schedule 16 does have secondary\xa0\ncomponent that is required as part of'}, {'start': '2374.800', 'end': '2380.240', 'text': 'the annual report which is the Notes\xa0\nto the SEFA. This is a separate form'}, {'start': '2380.240', 'end': '2386.480', 'text': 'than the Schedule 16 template and attached\xa0\nseparately within the annual filing system.'}, {'start': '2386.480', 'end': '2392.000', 'text': 'Just a reminder from earlier that there is no\xa0\ntemplate for these notes. To create your notes,'}, {'start': '2392.000', 'end': '2397.040', 'text': 'you’ll go to the Schedule 16 instructions\xa0\nin the BARS manual and copy and paste the'}, {'start': '2397.040', 'end': '2401.920', 'text': 'note disclosures in a word document to\xa0\ncomplete. You will only copy over the'}, {'start': '2401.920', 'end': '2407.840', 'text': 'disclosures that are required\xa0\nand apply to your government.'}, {'start': '2407.840', 'end': '2412.720', 'text': 'Here is a snippet of what you’ll see once\xa0\nyou are in the Schedule 16 instructions.'}, {'start': '2412.720', 'end': '2417.440', 'text': 'You’ll find the information you need\xa0\nto copy into a clean word document.'}, {'start': '2417.440', 'end': '2422.320', 'text': 'This helps ensure you are using the most\xa0\nup to date note disclosures and remember,'}, {'start': '2422.320', 'end': '2427.280', 'text': 'only use what is required and\napplies to your government.'}, {'start': '2427.280', 'end': '2433.280', 'text': 'The Schedule 21 is required for all local\xa0\ngovernments and is used to report information on'}, {'start': '2433.280', 'end': '2439.440', 'text': 'how the government responds to risks and payments\xa0\nfor things like property, health and welfare,'}, {'start': '2439.440', 'end': '2445.120', 'text': 'unemployment, workers compensation, the\xa0\nWashington paid family & medical leave,'}, {'start': '2445.120', 'end': '2450.240', 'text': 'etc. Within the annual filing system,\xa0\nevery local government is required to'}, {'start': '2450.240', 'end': '2456.240', 'text': 'answer 5 questions about how they respond\xa0\nto these risks and liabilities and the'}, {'start': '2456.240', 'end': '2461.840', 'text': 'responses will determine if the full\xa0\nSchedule 21 form is required or not.'}, {'start': '2461.840', 'end': '2467.360', 'text': 'Local governments may assume the risk, purchase\xa0\ninsurance, become a member of a risk pool,'}, {'start': '2467.360', 'end': '2473.680', 'text': 'self-insure these risks and liabilities, etc.\xa0\nIf a government self-insures for any of the'}, {'start': '2473.680', 'end': '2481.680', 'text': 'risks asked about in the 5 questions, it will\xa0\nbe required to attach the full Schedule 21 form'}, {'start': '2481.680', 'end': '2487.120', 'text': 'with additional information regarding\xa0\nany claims made in the reporting year.'}, {'start': '2487.120', 'end': '2494.000', 'text': 'There definitely is some complexities that go into\xa0\nthis schedule and defining what self-insured means'}, {'start': '2494.000', 'end': '2499.840', 'text': 'so we recommend utilizing the instructions\xa0\nin the BARS manual for additional guidance.'}, {'start': '2501.920', 'end': '2507.520', 'text': 'This is just a snippet of what the Schedule\xa0\n21 form looks like. This template is in a word'}, {'start': '2507.520', 'end': '2512.560', 'text': 'document which is different than the other\xa0\ntemplates that are typically in Excel. That'}, {'start': '2512.560', 'end': '2518.800', 'text': 'is because this form is not uploaded and only\xa0\nattached to your report in the filing system.'}, {'start': '2518.800', 'end': '2522.160', 'text': 'You would complete this if you\xa0\nself-insure for any of those'}, {'start': '2522.160', 'end': '2526.880', 'text': 'risks that we talked about and you’d\xa0\ninput additional information on how'}, {'start': '2526.880', 'end': '2533.680', 'text': 'your self-insurance, any claims\xa0\nmade in the reporting year, etc.'}, {'start': '2533.680', 'end': '2537.600', 'text': 'Even though I said we weren’t getting\xa0\ninto the filing system itself,'}, {'start': '2537.600', 'end': '2543.200', 'text': 'I did want to include this snippet of\xa0\nthe Schedule 21 step in the filing system'}, {'start': '2543.200', 'end': '2548.960', 'text': 'because the 5 questions are answered\xa0\ndirectly in the system. As you can see,'}, {'start': '2548.960', 'end': '2555.760', 'text': 'your responses to the questions will determine\xa0\nif the full form is required or not. If it’s not,'}, {'start': '2555.760', 'end': '2561.360', 'text': 'you’ll see a red message at the bottom stating\xa0\nit’s not applicable. If it is required,'}, {'start': '2561.360', 'end': '2567.760', 'text': 'you’ll see a place where you can\xa0\nattach the completed Schedule 21 form.'}, {'start': '2567.760', 'end': '2573.360', 'text': 'The last component of the annual report is\xa0\nyour government’s financial reporting package.'}, {'start': '2573.360', 'end': '2579.040', 'text': 'The SAO annual report schedules we covered\xa0\nalready are required in addition to the'}, {'start': '2579.040', 'end': '2588.400', 'text': 'GASB requirements because the SAO schedules are\xa0\nrequired as part of RCW 43.09.230. Essentially'}, {'start': '2588.400', 'end': '2594.320', 'text': 'this means even if the Schedule of Liabilities\xa0\nis included in your financial reporting package,'}, {'start': '2594.320', 'end': '2599.520', 'text': 'it is still required to complete\xa0\nthe SAO prescribed Schedule 09.'}, {'start': '2600.080', 'end': '2604.480', 'text': 'We work to ensure that the SAO\xa0\nlegal reporting requirements'}, {'start': '2604.480', 'end': '2609.120', 'text': 'for local governments in Washington are\xa0\nconsistent with the national standards'}, {'start': '2609.120', 'end': '2614.640', 'text': 'of financial reporting prescribed by\xa0\nthe GASB. These requirements include:'}, {'start': '2614.640', 'end': '2619.440', 'text': 'The basic financial statements, including\xa0\nnotes to the financial statements,'}, {'start': '2619.440', 'end': '2624.720', 'text': 'Required supplementary information,\xa0\nincluding the MD&A which stands for'}, {'start': '2624.720', 'end': '2629.840', 'text': 'Management Discussion & Analysis\nAnd the supplemental schedules.'}, {'start': '2629.840', 'end': '2635.360', 'text': 'And with that, we are through\xa0\nall the annual report components!'}, {'start': '2635.360', 'end': '2639.280', 'text': 'As we wrap up this training, we\xa0\ndo have some great training and'}, {'start': '2639.280', 'end': '2646.560', 'text': 'resources related to BARS and annual\xa0\nfiling available for local governments.'}, {'start': '2646.560', 'end': '2652.880', 'text': 'To kick us off, we have a great new feature to\xa0\nshare with you! We have a new and improved chat'}, {'start': '2652.880', 'end': '2659.760', 'text': 'function that can be found in the bottom-right\xa0\nof the webpage through the annual filing system.'}, {'start': '2659.760', 'end': '2664.560', 'text': 'This new chat support brings several new\xa0\nfeatures to better assist local governments'}, {'start': '2664.560', 'end': '2670.960', 'text': 'during the filing process. When opening the\xa0\nchat icon, you’ll be greeted by our new virtual'}, {'start': '2670.960', 'end': '2678.240', 'text': "assistant and you'll see menu options for commonly\xa0\nrequested resources such as reporting templates,"}, {'start': '2678.240', 'end': '2683.600', 'text': 'error guides, training, etc. These menu\xa0\noptions will take you to the applicable'}, {'start': '2683.600', 'end': '2688.320', 'text': 'SAO webpage to access that resource or guidance.'}, {'start': '2688.320', 'end': '2693.440', 'text': 'If you are not able to find what you need,\xa0\ncontinue through other options to request to'}, {'start': '2693.440', 'end': '2698.960', 'text': 'chat with a filing specialist. It will require\xa0\nyou to input some details like your name,'}, {'start': '2698.960', 'end': '2704.480', 'text': 'government name and what your question is, then\xa0\nyou’ll be connected to a filing specialist.'}, {'start': '2704.480', 'end': '2709.520', 'text': 'The best part of this new chat feature is\xa0\nlocal governments will be able to receive'}, {'start': '2709.520', 'end': '2715.120', 'text': 'some level of assistance even after\xa0\nSAO business hours since the virtual'}, {'start': '2715.120', 'end': '2721.920', 'text': 'chat assistant will be there 24/7 and can help\xa0\ndirect you to commonly asked questions, links,'}, {'start': '2721.920', 'end': '2727.840', 'text': 'etc. The filing specialists will generally\xa0\nbe available Monday through Friday,'}, {'start': '2727.840', 'end': '2733.360', 'text': '8am to 3:30pm during peak filing\xa0\nseason, which is March through May.'}, {'start': '2735.280', 'end': '2739.520', 'text': 'If you are looking for resources\xa0\nrelated to BARS and annual filing,'}, {'start': '2739.520', 'end': '2745.680', 'text': 'a great place to start is the BARS\xa0\n& Annual Report Filing FAQs page.'}, {'start': '2745.680', 'end': '2752.560', 'text': 'This page great resources to help\xa0\nlocal governments with this process.'}, {'start': '2752.560', 'end': '2756.000', 'text': 'Like I said there is a lot of great\xa0\ninformation on this page but I want'}, {'start': '2756.000', 'end': '2760.080', 'text': 'to specifically highlight these\xa0\n2 resources – the handbook and'}, {'start': '2760.080', 'end': '2766.480', 'text': 'error guide. These resources are extremely helpful\xa0\nto have open as you complete your annual report.'}, {'start': '2766.480', 'end': '2771.600', 'text': 'The handbook is a step-by-step guide on\xa0\nnavigating the filing system and how to use'}, {'start': '2771.600', 'end': '2777.760', 'text': 'the various functionalities within the system.\xa0\nIt also includes a summary of each component of'}, {'start': '2777.760', 'end': '2783.920', 'text': 'the report so a lot of what you learned today\xa0\nwill be included in this handbook as well.'}, {'start': '2783.920', 'end': '2787.280', 'text': 'Then the error guide is designed\xa0\nto help you better understand'}, {'start': '2787.280', 'end': '2795.520', 'text': 'errors you may receive in the filing system and\xa0\nprovides guidance on how to resolve those errors.'}, {'start': '2795.520', 'end': '2800.800', 'text': 'Now this is a closer look at the handbook –\xa0\nyou can see it is professionally formatted'}, {'start': '2800.800', 'end': '2805.680', 'text': 'and includes a table of contents to\xa0\neasily find what you’re looking for.'}, {'start': '2806.480', 'end': '2811.920', 'text': 'As I mentioned, it goes through the entire filing\xa0\nprocess step-by-step and provides screenshots'}, {'start': '2811.920', 'end': '2817.440', 'text': 'to help you navigate the filing system. For\xa0\neach step, we also provide a summary of each'}, {'start': '2817.440', 'end': '2824.880', 'text': 'component so it’s really a one-stop-shop type of\xa0\nguide and will help you file your annual report.'}, {'start': '2824.880', 'end': '2828.480', 'text': 'Now let’s take a look at the error\xa0\nguide – it is formatted the same'}, {'start': '2828.480', 'end': '2833.200', 'text': 'as the handbook and includes a table of\xa0\ncontents to easily find the error you’re'}, {'start': '2833.200', 'end': '2840.480', 'text': 'needing guidance on. This also includes\xa0\na summary of what each error category is.'}, {'start': '2840.480', 'end': '2846.320', 'text': 'Within the error guide you’ll find every possible\xa0\nerror that you may run into in the filing system.'}, {'start': '2846.320', 'end': '2850.880', 'text': 'You’ll find background information and\xa0\na description of what the error is,'}, {'start': '2850.880', 'end': '2857.760', 'text': 'what type of information it’s looking for, etc.\xa0\nand it includes tips on how to resolve it. We'}, {'start': '2857.760', 'end': '2863.920', 'text': 'also provide direct links to applicable BARS\xa0\nsections to help provide even more guidance.'}, {'start': '2865.680', 'end': '2870.320', 'text': 'Another great place to go for help is\xa0\nour training and workshops page. This is'}, {'start': '2870.320', 'end': '2878.400', 'text': 'where we post all of our recorded trainings\xa0\nand registrations for any live trainings.'}, {'start': '2878.400', 'end': '2883.200', 'text': 'And we have been working to build up our\xa0\neLearnings library so local governments'}, {'start': '2883.200', 'end': '2888.560', 'text': 'can access the training they need when it’s\xa0\nconvenient for them. There are currently 12'}, {'start': '2888.560', 'end': '2893.920', 'text': 'recorded trainings on various BARS topics but\xa0\nI want to draw your attention to the newest'}, {'start': '2893.920', 'end': '2899.920', 'text': 'trainings added which is How to Navigate\xa0\nthe Annual Filling System. This is a brief'}, {'start': '2899.920', 'end': '2905.920', 'text': '40-minute recorded training on how to navigate\xa0\nthe filing system and use the various features in'}, {'start': '2905.920', 'end': '2916.000', 'text': 'there. Please make sure to watch the version that\xa0\napplies to your government’s basis of accounting.'}, {'start': '2916.000', 'end': '2921.280', 'text': 'And it wouldn’t be an annual report training if\xa0\nI didn’t finish it off with a deadline reminder'}, {'start': '2921.280', 'end': '2929.280', 'text': 'so here is your reminder the annual report is due\xa0\nby Friday, May 30th which is 150 days after the'}, {'start': '2929.280', 'end': '2935.440', 'text': 'fiscal yearend for calendar yearend governments.\xa0\nWe always encourage governments to start early'}, {'start': '2935.440', 'end': '2942.480', 'text': 'to allow for plenty of time to ask questions,\xa0\nget help, etc. Our annual filing support team'}, {'start': '2942.480', 'end': '2949.200', 'text': 'is ready to help you meet the filing deadline.\nAnd the best way to reach out to us with your'}, {'start': '2949.200', 'end': '2959.840', 'text': 'annual report questions is emailing our filing\xa0\nsupport inbox at LGCSfeedback@sao.wa.gov. For'}, {'start': '2959.840', 'end': '2964.320', 'text': 'those more technical accounting and\xa0\nreporting questions or BARS topics,'}, {'start': '2964.320', 'end': '2970.480', 'text': 'we recommend submitting a helpdesk so it can be\xa0\nassigned to the right specialist on that topic.'}, {'start': '2970.480', 'end': '2974.320', 'text': 'I want to thank you for taking the time\xa0\nto watch this recorded training and'}, {'start': '2974.320', 'end': '2979.600', 'text': 'hopefully it provided value to you as you’re\xa0\nfiling your reports. Have a wonderful day!'}]