Welcome to 2020! We want to highlight some changes you will see when preparing your 2019 annual report in Gateway.
- Long-term debt schedule
- Will now include a beginning balance, additions and reductions and ending balance for the calendar year.
- Inter-fund transfers
- Will now include a schedule that requires the “transfer from” fund as well as the “transfer to” fund and the amount. In addition, any additional information regarding the transfers should be noted such as transfers that do not occur on a regular basis
- You will still enter the transfers in and transfers out in the receipt and disbursement detail for each fund.
- Capital Assets
- All capital asset classifications will now include a beginning balance, additions and reductions and ending balance for the calendar year.
- Accumulated depreciation for depreciable assets will also be included.
- There will be additional questions in this section if your unit offers a separate pension plan outside of the INPRS plans. There will also be an upload for the plan’s actuarial valuation.
- Other Post-Employment Benefits (OPEB)
- A new unit question has been added asking if your unit offers other post-employment benefits. I f this applies to your unit, you will be required to enter details pertaining to the plan on a new schedule. This information is in addition to what you enter in the OPEB Gateway application which is separate from the Annual Financial Report.
- Risk Assessment
- A question has been added to input your unit’s capital asset threshold.
- You are no longer required to upload the year end bank statement, outstanding check list and salary ordinance as these are now uploaded as part of the “Monthly and Annual Engagement Uploads”.
- Unit Questions
- A question has been added that asks if your unit anticipates producing Generally Accepted Accounting Principles (GAAP) for 2018. Most units will not produce these.
In addition to the updates mentioned above, the State Board of Accounts has stated that all fund numbers and names should match those detailed in Chapter 3 of their manual. At this time, it is not a requirement to change the names and numbers in your accounting system; however, you will need to provide a crosswalk between the numbers and names in your system to those in Gateway if you do not change them in your system. More changes are expected to the chart of accounts in the future.
If you have any questions regarding the changes to the annual financial report, please contact our team.