GAAP DEBT QUESTIONNAIRE
The Government Accounting Standards Board (GASB) requires certain disclosures related to debt transactions and derivative instruments. Therefore, when an agency enters into short and long-term financing arrangements, lease contracts/agreements, and/or derivative instruments the agency must provide proper and timely documentation to the Office of Financial Reporting in support of each transaction. Agency personnel or their representative should understand the complete transaction in order to make the necessary GAAP entries and disclosures for inclusion in the State’s Annual Comprehensive Financial Report. OFR has developed the questionnaire below to capture debt activity executed by each agency.