[CAFR-Contacts-News] FW: New GAAP Objects and Comptroller Object

[HAMILTON Robert W * CFO]

CAFR Contacts:

I realize that I failed to identify this new D10 in my email below.  The comptroller object for Rebates and Recoveries is 0560.

Sorry for oversight.

Rob

From: CAFR-Contacts-News [mailto:cafr-contacts-news-bounces at listsmart.osl.state.or.us] On Behalf Of HAMILTON Robert W * CFO
Sent: Friday, May 23, 2014 3:35 PM
To: 'cafr-contacts-news at listsmart.osl.state.or.us'
Subject: [CAFR-Contacts-News] New GAAP Objects and Comptroller Object

Hello CAFR Contacts,

SARS has worked with SFMS to create two new D08 GAAP Source/Object Profiles and one new D10 Comptroller Object as follows:

D08 0560 Rebates and Recoveries (Governmental Funds)
D08 0565 Rebates and Recoveries (Proprietary Funds)
D10 AY15 Rebates and Recoveries

Rebates and Recoveries is intended to report rebates that cannot be reported as a reduction of a related expenditure and recoveries of prior year expenditures.  These objects were established primarily to provide agencies a way to report activity that had largely been recorded to comptroller object 1105.  We believe that these new objects should not change the accounting process of the impacted revenues, only which object reports them.  We believe that this will improve the transparency of Oregon's CAFR.

If you have any questions, please feel free to contact me or your SARS analyst.

Thank you and have a great weekend.

Rob

Robert W. Hamilton, CPA
Statewide Accounting and Reporting Services Manager
Chief Financial Office
Department of Administrative Services
Phone:  (503) 373-0299
http://oregon.gov/DAS/CFO/SARS<http://oregon.gov/DAS/SCD/SARS>

Data Classification: Level 1 - Published

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