[CAFR-Contacts-News] New GL Accounts

[HAMILTON Robert W * DAS]

Hello CAFR Contacts,

We have some new general ledger accounts established in R*STARS that I wanted to notify everyone of.  Many of these we covered in your Year-end Close Training, but I felt it would be worthwhile to include an email announcement as well.

Current portions of loans receivable
0431 - Loan Receivable Current
0436 - Allowance for Uncollectible Loans Receivable Current

These accounts allow agencies that have loan receivable balances to report the current portion.

Financing Arrangements
1655 - Financing Arrangements Current
1723 - Financing Arrangements Noncurrent

For lending arrangements when a state agency acquires a capital asset using financing other than bonds, COPs, or capital leases.  Generally related to an acquisition financed by the seller.

Related to GASB 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions
0968 - Net OPEB Asset
1006 - Deferred Outflow - Difference in Economic Experience (OPEB)
1007 - Deferred Outflow - Difference Between Projected and Actual Earnings on Investments (OPEB)
1008 - Deferred Outflow - Change in Assumptions (OPEB)
1009 - Deferred Outflow - Change in Employer Contributions and Proportion (OPEB)
1010 - Deferred Outflow - Contributions Subsequent to the Measurement Date (OPEB)
1775 - Net OPEB Liability
1857 - Deferred Inflow - Difference in Economic Experience (OPEB)
1858 - Deferred Inflow - Difference Between Projected and Actual Earnings on Investments (OPEB)
1859 - Deferred Inflow - Change in Assumptions (OPEB)
1860 - Deferred Inflow - Change in Employer Contributions and Proportion (OPEB)

These accounts should be used only when given direction from SARS.

Related to GASB 88, Certain Disclosures Related to Debt, including Direct Borrowing and Direct Placements
1277 - Bonds Payable Current - Private Placement
1732 - Discount on Bonds Sold - Private Placement
1733 - Premium on Bonds Sold - Private Placement
1734 - Bonds Payable Noncurrent - Private Placement

These relate to a new accounting standard that is effective for FY 2019.  More information, and perhaps more GLs, to come.  If your agency has direct placements or direct borrowings, and you have questions about the accounting, please contact Sangit Shrestha (sangit.shrestha at oregon.gov<mailto:sangit.shrestha at oregon.gov>, 373-0265)

If you have any questions, please contact your SARS Analyst.

Thank you,

Rob

Robert W. Hamilton, CPA
Statewide Accounting and Reporting Services Manager
Chief Financial Office
Department of Administrative Services
Phone:  (503) 373-0299
http://www.oregon.gov/DAS/financial/acctng

Data Classification: Level 1 - Published

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