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Notes to Financial Statements FAQs

What are the Sample Notes to Financial Statements?

Financial statements typically include a section titled “Notes to the Financial Statement.” GASB 68 and 75 require employers to include more information in the notes to the financial statements than in the past.

The Sample Notes to Financial Statements section of this website includes sample language to be used in your financial statements. ORS has presented the information required by GASB 68 and 75 in two notes (Note A – Pension Plan and Note B – OPEB Plan), but this arrangement and division is a suggestion only. GASB Statements 68 and 75 require only that you include the information contained in these sample notes.

How do I use the material in this section of the website?

You may copy and paste this language from this website, adding information from the tables for your employer where indicated by brackets. ORS provides this suggested language as a courtesy; however, each employer is responsible for its own Notes to Financial Statement and should review the language in these notes with its auditor.

When adapting the sample language provided here, you may replace the phrase “the employer” with the name of your reporting unit.

Are UAAL Rate Stabilization payments included as statutorily required pension and OPEB contributions?

Beginning with the 2018 fiscal year 100% of the UAAL rate stabilization payment is included in the statutorily required pension contribution and is no longer part of the required OPEB contribution.

How do we calculate the percentage increase/decrease on our proportion of the Net Pension Liability (for Note A) and net OPEB Liability (for Note B) from that proportion measured as of Oct. 1, 2021?

Calculate the difference between your net pension or OPEB liability as of Oct. 1, 2021 (from last year’s report)  and your net pension/OPEB liability as of Sept. 30, 2022 (Table 5, Column F).

Divide that difference by Column F and multiply by 100 to calculate your percentage increase. If the answer is a negative number, then this is a percentage decrease.


(Last updated: July 21, 2023)