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90.40 State Disclosure Forms |
90.40.10
June 1, 2022 |
Introduction to state disclosure forms and lead sheet |
Information collected in the state Disclosure Forms application facilitates the preparation of the state of Washington's Annual Comprehensive Financial Report (ACFR) by the Office of Financial Management (OFM). The state Disclosure Forms application is an electronic way of capturing detail data for various aspects of an agency's activities. Each of the disclosure forms covers specific detail or other information that is not readily available from the data collected in AFRS. All forms are completed online. The signed Financial Disclosure Certification form including attachments, as necessary, is to be emailed to OFMAccounting@ofm.wa.gov.
*Phase 1B is the due date for the following state disclosure forms:
If your agency cannot complete some or all of the Phase 1B forms listed above by the due date, you need to request an extension by sending a memo to your assigned OFM Accounting Consultant. The memo should list the form(s) for which an extension is needed and the date by which your agency can complete the form(s). In order to accurately complete the disclosure forms by the due date, agencies should review the information in the Agency Financial Reporting System (AFRS) that is associated with the information on the disclosure forms and make necessary adjustments in AFRS prior to the end of Phase 2.Each agency is required to complete the following state disclosure forms:
The remainder of the disclosure forms may or may not apply to your agency. Specify on the lead sheet if a form is completed or not applicable by selecting “Yes” or “N/A” in the “Completed” column. If there is AFRS data pre-filled on a disclosure form for your agency, the Lead sheet will identify the form as “Required” and you must complete it. All reporting of financial information is to be in whole dollars. Do not enter pennies, decimal points, dollar signs, etc. Refer to the “Tips” screen in the Disclosure Form application for more helpful information. All financial information reported is to be reconciled to AFRS. Reports in Enterprise Reporting (ER) are available to assist in the reconciliation process. Agencies are encouraged to use these reports throughout the year to monitor reconciliation status. To complete the state disclosure forms, access the state Disclosure Forms application at: http://www.ofm.wa.gov/systems/default.asp. Click on the Disclosure Forms link. Use an authorized User ID, agency number, and password to log in, and then select the “State Forms” tab. If you have a question regarding disclosure form reporting, contact your assigned OFM Accounting Consultant. |
90.40.20
June 1, 2021 |
Cash and investments disclosure |
General Instructions Local and treasury accounts. Agencies with balances at June 30 in the following general ledger (GL) codes are required to complete the cash and investments disclosure forms as applicable:
Amounts covered by the Federal Deposit Insurance Corporation (FDIC), the Public Deposit Protection Commission (PDPC), or the National Credit Union Administration (NCUA) are considered to be insured or collateralized. In general,
Uninsured/uncollateralized balances would include those deposited in out-of-state and alien banks. There are three cash and investment disclosure forms: |
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90.40.20.a | Cash and Investments General Disclosure This form contains general questions concerning an agency's cash and investment activity. Information provided should be on an agency-wide basis. |
90.40.20.b | Cash and Investments Restricted Disclosure All agencies are required to complete the Cash and Investments Restricted Disclosure form. This form contains questions about restricted cash. Balances in GL Codes 1140 and 1240 “Restricted Cash and Investments” and GL Code 1150 “Cash with Fiscal Agents” are prefilled from AFRS and agencies are asked to provide a description of the nature of the restriction. The form also asks agencies to report unspent bond proceeds and any other externally restricted cash and investments recorded in AFRS at June 30. |
90.40.20.c | Cash on Hand and in Bank Disclosure This form requests information concerning an agency's cash in bank by GL code as well as information on petty cash funds and undeposited receipts held in cash. Agencies are to report the following:
Except for accounts with very little activity, book and bank balances will normally be different due to outstanding checks and/or deposits in transit. Explain the reason for any differences between book and bank balances in the comment box. Also explain in the comment box the reason and/or nature of any amounts listed in the Uninsured/Uncollateralized column. |
90.40.20.d | Certificates of Deposit (Non-negotiable) Disclosure
This form is required to be completed if an agency has non-negotiable certificates of deposit reported in GL Codes:
Certificates of Deposits (CDs) held by agencies (other than the State Investment Board) are generally non-negotiable. One of the features of non-negotiable certificates of deposit is a penalty when it is redeemed prior to maturity. Such certificates of deposits should be reported on this disclosure form. (Historically, only SIB has held negotiable CDs. Negotiable certificates of deposits should not be reported on this disclosure form.) |
90.40.30
June 1, 2022 |
Taxes receivable disclosure |
General Instructions All agencies with taxes as of fiscal year-end are required to complete the Taxes Receivable Disclosure form. The balances in the following tax related GL Codes are to be reported by account and by type.
The types of taxes receivable include the following:
The amounts for each related allowance GL Code need only be reported by account.
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90.40.35
June 1, 2016 |
Inventory disclosure |
General Instructions All agencies with balances at fiscal year-end in inventory GL codes are required to complete the Inventory Disclosure form for all accounts regardless of the value. Identify the method used to value each type of inventory. There are two types of inventories - consumable inventories (GL Codes 1410 and 1415) and merchandise inventories (GL Codes 1420, 1430, 1440, and 1450). Consumable inventories are assets that are consumed in the course of an agency's business. Merchandise inventories, on the other hand, are assets held for resale. Merchandise and consumable inventories are mutually exclusive and are accounted for separately. Refer also to Subsections 35.10.40 and 35.10.45. For inventories on hand, other than donated consumable inventories, agencies are to select the applicable valuation method. Donated consumable inventories are recorded at fair value at time of acquisition. Inventory methods include:
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90.40.38
June 1, 2022 |
Capital assets - summary of activity disclosure |
General Instructions All agencies with capital assets (GL Code series 2XXX) are required to complete the Capital Assets - Summary of Activity Disclosure form. The debit and credit amounts shown on a trial balance report may not reflect true additions and/or deletions due to certain transactions and adjustments that inflate true activity. An example of inflated activity would be when an erroneous transaction is not backed out using a reverse code with the original transaction code. Agencies should adjust AFRS to reflect their true activity during the fiscal year, as reported in the disclosure form. For information and tools related to capital asset transactions, refer to our resources website at: https://ofm.wa.gov/accounting/administrative-accounting-resources/capital-assets. Additions to capital assets should be those purchases or reclassifications that meet the state’s capitalization policy.
Refer to Sections 30.20 and 85.60 and Subsection 90.20.15.f. Increases to allowance for depreciation/amortization should be the result of and equal to increases in depreciation/amortization expense. Reductions in allowance for depreciation/amortization should be related to the sale or disposal of an asset. Adjustments may include:
Agencies reporting activity in Account 997 “General Capital Assets Subsidiary Account” should review their capital asset activity coded to Subobjects JC – JZ, SJ and TJ in their governmental fund type account(s) and compare them to the activity in Account 997. Additionally, capital asset GL balances reported in AFRS are required to be reconciled to the agency’s subsidiary capital asset system (for example, Capital Asset Management System (CAMS)). Refer also to Subsection 85.60.60.
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90.40.40
June 1, 2016 |
Long-term construction commitments disclosure |
General Instructions All agencies with long-term construction commitments are required to complete the Long-Term Construction Commitments Disclosure form. The state is required to disclose significant long-term commitments that are not reported in the financial statements. Construction commitments are the most common commitment of this type. The form is designed to collect both the construction-in-progress project information for the fiscal year-end as recorded in AFRS (GL Code 2510) as well as remaining commitment information. A commitment is viewed as the estimated dollars necessary to complete a project. Agencies are to list each significant project on a separate line by the account where it is recorded or will be recorded in AFRS. A project is considered significant if the amount of GL Code 2510 “Construction-in-Progress” at fiscal year-end exceeds $2 million or if the remaining commitment exceeds $10 million. All projects that do not meet the criteria for a significant project are to be aggregated and entered at the bottom of the form as “Other Miscellaneous.” The Department of Transportation should disclose commitments made for on-going infrastructure projects regardless of GL code used. Note: Those amounts to be shown in the “Remaining Commitment” column are those remaining commitments not recorded in AFRS; i.e., not recorded as a disbursement or accrual in fiscal year-end agency financial activity. Occasionally, an agency may have a construction project that involves a significant commitment for the future, but no construction-in-progress has been recorded in AFRS. Such commitments should be disclosed by recording the information on a separate line with zero ($0) in the current “Fiscal Year-End Construction-in-Progress” column. |
90.40.45
June 1, 2022 |
Leases, liabilities by major class - summary of activity, and Certificates of Participation (COPs) disclosure |
General Instructions All agencies with liability activity and/or balances are required to complete the Liabilities by Major Class – Summary of Activity Disclosure form. Agencies with leases are also required to complete the Lease Disclosure form. Agencies with Certificates of Participation (COPs) are to complete the Certificate of Participation Disclosure – Agencies form. OST (Bond Retirement and Interest Agency) is to complete the Certificates of Participation (COPs) Disclosure – OST form. | |||||||||||||||
90.40.45.a | Lease Disclosure This form collects information about leases. Right-to-Use Lease Agreement A right-to-use lease agreement is a contract that conveys control of the right to use another entity’s capital asset, as specified in the contract, for a specific period of time in an exchange or exchange-like transaction. A lease liability and intangible right-to-use lease asset must be recorded for leases that meet the state’s capitalization policy. Refer to Subsection 30.20.35. Lease-to-Own Agreement A lease-to-own contract that transfers ownership of the underlying asset to the lessee by the end of the contract and does not contain termination options should be reported as a financed purchase of the underlying asset by the lessee and a sale of the asset by the lessor. Refer to Subsection 30.20.40. Agencies are to report the following:
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90.40.45.b | Liabilities by Major Class – Summary of Activity Disclosure
This form summarizes liability activity by major class. For purposes of this disclosure, major class is defined as follows:
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90.40.45.c | Certificates of Participation (COPs) Disclosure – Agencies
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90.40.45.d | Certificates of Participation (COPs) Disclosure - OST This form is completed by OST. OST reports debt service requirements to maturity for Certificates of Participation (COPs) as well as related arbitrage rebate requirements, if any. Principal amounts entered for the fiscal years disclosed must agree in total to the related GL codes in AFRS. |
90.40.50
June 1, 2022 |
Unavailable and unearned revenues disclosure |
General Instructions All agencies with unavailable/unearned balances as of fiscal year-end must complete the Unavailable and Unearned Revenues Disclosure form. Balances in the following GL Codes are to be reported by account and type:
Choose from the following list the type that is most applicable:
* Limit your use of the Miscellaneous/Other type. If Miscellaneous/Other type is used, a description is required in the Comments or Description column. |
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Also complete these fields on the form:
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Unearned Revenues (GL Codes 5190 and 5290): Revenues that are unearned are recorded to GL Codes 5190 and 5290, and may be reported in both governmental and proprietary type accounts. Unearned means that the earnings process is not yet complete. Examples of revenues not yet earned include:
Refer also to Subsection 85.70.45. |
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Unavailable Revenues (GL Codes 5192 and 5292): Revenues that are unavailable are recorded to GL Codes 5192 and 5292, and may only be reported in governmental fund type accounts. GL Code 5292 should be used to offset a receivable for which the asset recognition criteria has been met, but the governmental fund revenue recognition criteria has not been met. Generally, in governmental funds, accrued revenue sources are deemed unavailable if collectible beyond one year. Examples include long term receivables and contracts associated with the harvest of timber that extend beyond 12 months. GL Code 5192 should be used only in limited instances where revenue associated with a receivable does not meet the revenue recognition criteria and will be collected within one year. An example where GL Code 5192 is properly used is to offset property taxes receivable that are expected to be collected after 60 days following year end but within one year. Refer also to Subsection 85.70.40. |
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90.40.55
June 1, 2022 |
Bond debt disclosure |
General Instructions The state is required to disclose certain information about bond debt activity, debt service requirements, and refunding activity. Agencies that issue bonds and/or pay bond debt service are required to complete these disclosure forms. The state issues four types of bonds: General Obligation Bonds, Revenue Bonds, Zero Coupon General Obligation Bonds, and Refunding Bonds. Refer to Subsection 85.72.20. |
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90.40.55.a | Debt General Disclosure This form contains general questions concerning arbitrage rebate requirements, IRS communications, variable rate demand obligations, and direct borrowings or placements. |
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90.40.55.b | Bond Debt by Major Class - Summary of Activity Disclosure This form summarizes current year activity of bond debt by debt class. OST will summarize and report their bond activity that is recorded in Account 999 “General Long-Term Obligations Subsidiary Account,” as well as for other agencies where OST pays the actual debt service (currently L&I). Table 1 - Bond Debt GL Codes Reconciliation to AFRS For purposes of this disclosure form, debt class is defined as follows:
Table 2 - Debt Service Requirements Agencies should disclose their upcoming debt service by fiscal year based on the information in their bond amortization schedules. The amount reported as principal in fiscal year 2023 should agree to the amount in the short term GL Codes 5161, 5162, 5163, 5164, 5167, or 5169.Table 3 - Reconciliations These reconciliations identify potential discrepancies between Tables 1 and 2, and the bond debt GL codes in AFRS.
Table 4 - Bonds Outstanding – Type and Interest Rate For bonds outstanding at June 30, disclose the types of bonds and the range of bond interest rates for the bond issues.Table 5 - Bonds Authorized but Unissued For bonds authorized but unissued at June 30, please disclose the purpose of the bond issues, the types of bonds, and the total amount of bonds authorized but unissued at June 30.Table 6 - Other Bond Related GL Codes Reconciliation to AFRS
Complete the table to disclose activity related to unamortized bond premiums and discounts, and accreted interest payable (GL Codes 1910, 5165, 5212 and 5910) as of June 30. Current year amortization activity should be recorded in GL Codes 6512 or 6593 “Amortization Expense” Subobject WB “Amortization.” Table 7 - Pledged Revenue for Revenue Bonds For revenue bonds outstanding at year end for which specific revenues have been pledged, disclose information about the pledged revenues including: account, sources of revenue pledged, current year revenues pledged, current year debt service, future revenues pledged, a description of the debt, the purpose of the debt, and the ending year of the commitment. List the year(s) the bond(s) were issued in the "Purpose of the Debt" column. Table 8 - Reconciliation of Future Revenue Pledged Reconcile the revenue pledged amounts reported in Table 7 to the revenue bond principal and interest amount totals in Table 2. |
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90.40.55.c | Bond Sales Disclosure This form collects required disclosure information about current year bond sales including refunding issues, defeased debt outstanding at year end, and bond issues subsequent to year end. Current year bond sales
This form will check the amounts disclosed against the amounts reported in the Bond Debt by Major class disclosure form and against AFRS data. This form also collects required disclosure information on bond debt refunding activities. The state is required to disclose bond debt refunding activity for bond debt refunded in the current year and for bond debt refunded in prior years that remains outstanding.
In addition to a general description of the bond refunding, two additional items are required to be disclosed:
The effective interest rate is the rate that, when used to discount the debt service requirements on the new debt, produces a present value equal to the proceeds of the debt (including accrued interest) net of any premiums or discounts and any underwriting spread and issuance costs that are not recoverable through escrow account earnings. Issuance costs include all costs incurred to issue the bonds, including but not limited to insurance costs (net of rebates from the old debt, if any), financing costs (such as rating agency fees), and other related costs (such as printing, legal, administrative, and trustee expenses). Defeased bonds The state is required to disclose debt defeased in substance that remains outstanding, regardless of how the cash and monetary assets were acquired, in an advance refunding. If your agency has performed your own bond debt refunding (not through OST) disclose the amount at June 30 of debt defeased in substance and the amount for which essentially risk-free monetary assets were substituted for not essentially risk-free monetary assets. The amounts disclosed should include any remaining prepaid insurance related to the extinguished debt. Bonds issued subsequent to year end The state is also required to disclose debt issued subsequent to June 30. Disclose requested information about debt issued in the period between July 1 and December 31 of the current fiscal year. |
90.40.60
June 1, 2016 |
Transfers disclosure |
General Instructions GAAP requires the state to disclose in the notes to the financial statements certain details about transfers including:
Transfers to be reported on the disclosure form:
The majority of the transfers reported by an agency on this form will be intra-agency transfers (transfers between accounts within the same agency). If applicable, an agency may also need to report an inter-agency transfer in (a transfer received from another agency). The agency making the interagency transfer out should not report the transaction on this form. For inter-agency transfers in only, choose the agency number of the paying agency from the “Inter-agency Transfer In” column drop down box on the form. In the comment box indicate the reason for the inter-agency transfer in. No entry is allowed in the “Paying Account” column. Refer to the example below. For transfers over $20 million, please provide a general description of the purpose of the transfer. ![]() |
90.40.70
June 1, 2016 |
Pension disclosure |
General Instructions The pension disclosure forms are used to accumulate the information required to calculate the state’s Net Pension Assets and Liabilities, pension related deferred outflows and deferred inflows of resources and pension expense as well as to prepare note disclosures and required supplementary information for the state’s ACFR. The information provided in the ACFR is intended to aid the reader of the financial statements in assessing:
Pension disclosure information is required from the following agencies:
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90.40.70.a |
Pension Information – Department of Retirement Systems The Department of Retirement Systems (Agency 124) is required to complete a disclosure form including these data elements:
Include the following retirement plans:
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90.40.70.b | Pension – Higher Education Institutions, SBCTC, and SAC This form is required to be completed by all four-year higher education institutions, SBCTC, and SAC. The information required pertains to Higher Education Retirement Plan participants and the Higher Education Supplemental Retirement Plan.
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90.40.75
June 1, 2019 |
Miscellaneous disclosure |
General Instructions All agencies are required to complete the Miscellaneous Disclosure form. Information is required related to:
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90.40.80
June 1, 2019 |
Internal control/internal audit questionnaire disclosure |
General Instructions All agencies are required to complete the Internal Control/Internal Audit Questionnaire Disclosure form. Information is required related to:
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90.40.95
June 1, 2022 |
Financial disclosure certification |
General Instructions All agencies are required to complete the Financial Disclosure Certification. As required by audit standards, OFM provides, on behalf of the state, a letter of representation to the State Auditor's Office certifying certain financial, compliance, and internal control information. To enable OFM to make the representations required in that letter, each Agency Head and Chief Financial Officer must certify, to the best of their knowledge, that the statements listed in the Financial Disclosure Certification form are true for their agency. Any exceptions to the certifications are to be attached with a narrative detailing the variance(s) and any proposed or completed corrective actions. Attachments may include:
The signed Financial Disclosure Certification form including attachments, as necessary, is to be emailed to OFMAccounting@ofm.wa.gov by September 14, 2022. OFM will accept official electronic signatures using electronic signature software such as DocuSign or Adobe Acrobat Pro E-sign. Agencies must follow their own internal policies regarding the form of signature. |