From smauck at osrhe.edu Fri Sep 2 12:46:23 2016 From: smauck at osrhe.edu (Mauck, Sheri) Date: Fri, 2 Sep 2016 17:46:23 +0000 Subject: [Cobo] FW: Update on Potential Special Legislative Session In-Reply-To: References: <04A8951A98F471429444BFBA57D49B2C5F110526@Drake.osrhe.edu> Message-ID: <9541CC96FE725944881EA71AEBEE19CF4E03ECCE@Drake.osrhe.edu> Please see important correspondence that went out to Presidents this morning. Begin forwarded message: From: "Johnson, Dr. Glen" > Date: September 2, 2016 at 11:55:54 AM CDT To: Presidents >, "Leaming, Adam" >, "Mills, Dr. Steve" >, "Mosley, Terry" > Subject: Update on Potential Special Legislative Session OKLAHOMA STATE REGENTS FOR HIGHER EDUCATION Memo To: Presidents Adam Leaming, University Center at Ponca City Dr. Steve Mills, University Center of Southern Oklahoma Dr. Terry Mosley, Quartz Mountain From: Chancellor Glen D. Johnson Date: Friday, September 02, 2016 Subject: Update on Potential Special Legislative Session Attached please find several articles that were included in today's clips which indicate that Governor Fallin has decided not to call a special legislative session regarding the $140.8 million surplus that resulted from mid-year budget cuts during FY16. In the articles, Michael McNutt, Communications Director for Governor Fallin, indicates that the $140.8 million surplus will be returned proportionately to agencies, including to higher education, with the September general revenue allocations. We anticipate that the September general revenue allocations will be made on Tuesday, September 13. We will be in contact with the State Regents to discuss expediting the allocation of these funds to the institutions. If you have any questions, please contact Amanda Paliotta at apaliotta at osrhe.edu or (405) 225-9126. Thanks. Glen Glen D. Johnson Chancellor Oklahoma State Regents for Higher Education 655 Research Parkway, Suite 200 Oklahoma City, Oklahoma 73104 405.225.9122 gjohnson at osrhe.edu -------------- next part -------------- An HTML attachment was scrubbed... URL: -------------- next part -------------- A non-text attachment was scrubbed... Name: 2016-09-02 Articles on Special Legislative Session.pdf Type: application/pdf Size: 32724 bytes Desc: 2016-09-02 Articles on Special Legislative Session.pdf URL: From smauck at osrhe.edu Thu Sep 22 10:41:41 2016 From: smauck at osrhe.edu (Mauck, Sheri) Date: Thu, 22 Sep 2016 15:41:41 +0000 Subject: [Cobo] FW: Late Appropriations -- 6/30 Audits Message-ID: <9541CC96FE725944881EA71AEBEE19CF4E0644A1@Drake.osrhe.edu> All- please find the email from Matt Clarkson of OMES Financial Reporting with guidance concerning the posting of the FY16 appropriations reconciliations you received notice of on September 9th. Please use in discussion with your auditors for consistency in reporting for the financial as of 6/30/2016. The figures should not be reported as FY16 receivables and you may use your professional judgement whether to include a "subsequent event" footnote disclosure or not. From: Matt Clarkson [mailto:Matt.Clarkson at omes.ok.gov] Sent: Wednesday, September 21, 2016 8:09 AM To: Campbell, Karla Subject: RE: Late Appropriations If you could pass it on to any institutions who have a similar question, I would appreciate that. From: Matt Clarkson [mailto:Matt.Clarkson at omes.ok.gov] Sent: Tuesday, September 20, 2016 11:28 AM To: Campbell, Karla Cc: 'Billy Swindell' Subject: Late Appropriations Karla, I have not heard back from SAI, but after doing some research on the matter, this is the position I am taking on the FY16 surplus appropriations: Based on this revenue recognition table provided in GFOA's Blue Book, the handling of the appropriations is determined by the category they belong under. [cid:image001.png at 01D213DF.5F75DC00] The stance I understand your auditors to be taking appears to be treating the appropriations as "imposed nonexchange revenues." Those would be recognized when the claim to the money is legally enforceable AND at the start of the period they are intended to finance, in this case fiscal year 2016. However, I don't believe that appropriations belong in that category because the imposed part of the transaction happens at the primary government. For instance, the taxes collected were not receivable by the higher education components, but by the State of Oklahoma's general revenue fund. [cid:image002.png at 01D213DF.5F75DC00] Instead, the nature of appropriations seems to be a better fit under the category of "voluntary exchange transaction" because the legislature determines how the general revenues are split out. [cid:image003.png at 01D213DF.5F75DC00] Based on this assessment, the revenues would be receivable when the "eligibility requirements are met," and the way state appropriations are handled, the only eligibility requirement would be the legislature releasing the funds. As such, I do not believe the appropriations of the FY16 surplus were receivable by the higher education component units until the legislature determined the amount. Because this did not happen until well into FY17, it would not be receivable until FY17. As to whether a disclosure in the subsequent events note is necessary, I would say that it is a matter of professional judgement. Our policy with the State CAFR is pretty conservative, and generally we do not to disclose something unless it would have a negative impact on the financial statements. If you would like any further assistance, please let me know, Matt Clarkson | Financial Reporting Supervisor p. 405-521-2759 | f. 405-521-2001 Central Accounting and Reporting | OMES omes.ok.gov [cid:image004.png at 01D213DF.5F75DC00] -------------- next part -------------- An HTML attachment was scrubbed... URL: -------------- next part -------------- A non-text attachment was scrubbed... Name: image001.png Type: image/png Size: 97559 bytes Desc: image001.png URL: -------------- next part -------------- A non-text attachment was scrubbed... Name: image002.png Type: image/png Size: 31406 bytes Desc: image002.png URL: -------------- next part -------------- A non-text attachment was scrubbed... Name: image003.png Type: image/png Size: 30004 bytes Desc: image003.png URL: -------------- next part -------------- A non-text attachment was scrubbed... Name: image004.png Type: image/png Size: 10724 bytes Desc: image004.png URL: From smauck at osrhe.edu Thu Sep 22 13:34:51 2016 From: smauck at osrhe.edu (Mauck, Sheri) Date: Thu, 22 Sep 2016 18:34:51 +0000 Subject: [Cobo] Job Posting - Accountant I Message-ID: <9541CC96FE725944881EA71AEBEE19CF4E064EC4@Drake.osrhe.edu> Please find the linked job posting. Please use the website for the application process and direct any questions as directed through the website. Thank you. http://osrhe.peopleadmin.com/postings/109 -------------- next part -------------- An HTML attachment was scrubbed... URL: