[CAFR-Contacts-News] OAM Updates - Link to Website Included

Thu Aug 6 13:28:48 PDT 2009

Hello Everyone,

I forgot to include a link to the OAM in my earlier email (see below).

http://www.oregon.gov/DAS/SCD/SARS/oam_toc.shtml
<http://www.das.state.or.us/DAS/SCD/SARS/oam_toc.shtml> 

Kathy

________________________________

From: cafr-contacts-news-bounces at listsmart.osl.state.or.us
[mailto:cafr-contacts-news-bounces at listsmart.osl.state.or.us] On Behalf
Of ROSS Kathryn * SCD SARS
Sent: Thursday, August 06, 2009 1:12 PM
To: cafr-contacts-news at listsmart.osl.state.or.us
Subject: [CAFR-Contacts-News] OAM Updates

Good Afternoon CAFR Accountants!

The following updated policies have been posted to the Oregon Accounting
Manual (OAM). The effective date for all of the changes is August 1,
2009.

1.       OAM 10.70.00 - Security Access to Financial Systems

This policy draft was modified to reflect agency comments received
during the comment period.  In particular, please note the changes in
the following paragraphs:

*       Paragraph 106 - clarifies roles and responsibilities when
security violations are reported. 

*       Paragraph 109 - describes knowledge/skills expectation when
designating agency security officers.

*       Paragraph 120 - discusses requests for special view access to
SFMA.

2.       OAM 15.55.00 - Non-capital Assets

OAM 15.60.10 - Capital Assets - Classification and Capitalization

OAM 15.60.40 - Intangible Assets

There were no substantial changes made to OAM 15.55.00 and 15.60.40 as
the result of the comment period. However, OAM 15.60.10 saw important
changes in the following paragraphs as the result of a GFOA Webcast on
capital assets:

*       Paragraph 110 - see italicized note on capitalizing only those
acquisition costs directly identifiable to a specific asset.

*       Paragraph 123 - clarifies the interest capitalization
requirements for proprietary funds.

*       Paragraph 127 - a new paragraph on accounting for assets used
exclusively in pollution remediation activities (should be accounted for
as a component of the pollution remediation obligation).

*       Paragraph 137 - a new paragraph on reporting assets that have
been permanently retired (but not sold or otherwise disposed of) as an
investment in state-owned property (held for sale).

*       Paragraphs 147and 148 - two new paragraphs that discuss
reclassifications required for financial reporting purposes when assets
are transferred between proprietary funds and governmental funds.

3.       OAM 15.77.00 - Pollution Remediation Obligations

This policy was revised to replace the term "third parties" with the
term "other responsible or potentially responsible parties" when
discussing expected financial recoveries.  This is an example where
using plain language changed the meaning.

4.       OAM 60.20.00 - Nominal Accounts

This policy was updated to reflect the addition of the new travel
comptroller objects requested by the Legislature:

4103 - INSTATE MILEAGE REIMBURSEMENT

4153 - OUT-OF-STATE MILEAGE REIMBURSEMENT

4156 - FOREIGN TRAVEL MILEAGE REIMBURSEMENT

4409 - PROF DEV INSTATE MILEAGE REIMBURSEMENT

4414 - PROF DEV OUT-OF-STATE MILEAGE REIMBURSMT

4421 - PROF DEV FOREIGN MILEAGE REIMBURSEMENT

4447 - EMPLOYEE RECRUIT MILEAGE REIMBURSEMENT

5.       OAM 70.10.00 - Current Agencies (alpha sequence)

OAM 70.20.00 - Current Agencies (numeric sequence)

These two policies were updated to reflect the name change for Agency
123 to Business Oregon.

Kathryn Ross

Statewide Accounting & Reporting Manager

Oregon State Controller's Division

155 Cottage Street NE, U-50

Salem, OR 97301

Phone:  (503) 373-7277, ext 253

Fax:  (503) 378-3514

http://oregon.gov/DAS/SCD/SARS

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