Other pages about the topic: Administrative & Accounting Resources
The resources listed here are intended to assist state agencies in their response to COVID-19.
The Governmental Accounting Standards Board (GASB) Statement No. 87, Leases, establishes a single model for lease accounting based on the principle that leases are financings of the right to use an asset. There is no longer an operating vs capital classification. Lessees will recognize a lease liability and an intangible right-to-use asset, and lessors will recognize a lease receivable and a deferred inflow of resources.
This page contains the most current list of valid sub-subobjects (SSO) and their definitions, decision flowcharts to assist with coding certain subobjects, and a list of subobjects and sub-subobjects that require project type X or Y to capture IT costs. The statewide form to request a new SSO or request a change to an existing SSO is also on this page.
Many business processes will change when the new ERP system is implemented, and it will be more important than ever for staff to have strong knowledge of accounting principles. OFM Statewide Accounting is seeking funding to provide a comprehensive accounting training series to help agency staff prepare for the new ERP system and on-going training for new staff and growth and development.
OFM has established the Federal Grants Community of Practice workgroup and has been holding bi-monthly meetings to discuss federal issues and share best practices. The workgroup’s main objectives are to create a community of resources, develop federal grant training curriculum, and identify and address ongoing grant management needs.
The workgroup currently has representatives from a variety of state agencies who manage federal grant programs of various nature and sizes. Members include fiscal staff, internal auditors and grant program management.
Our goal is to have all agencies that interface from AFRS using the same server with a standard set of data elements prior to the ERP implementation. This will make converting the agency interfaces much easier when the new system is configured. We are currently working on Phase 1 of this project.
Our goal is to have a master payee file when the new ERP system goes live, which would include both payees and customers.
OFM Statewide Accounting is currently working on the Finance ERP Readiness Project that will help inform the One Washington business transformation to modernize and improve aging administrative systems and prepare the state to the new Software as a Solution Enterprise Resource Planning (ERP) system.
While the software selection is still a ways off, this project focuses on activities that do not depend on new technology. The project teams will: