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F-65 Frequently Asked Questions
F-65 Frequently Asked Questions
Q: Where do I file the F65 Report?
A: http://www.michigan.gov/LocalFinancialReporting Select File Online Reports tab. Enter your UserID, Password and the Security Code. Click on the Login button. You will then be redirected to the Form Submission page.
Q: How do I switch my user profile?
A: To change your user profile, click the User Profile link. Complete all fields marked required (*), certify at the bottom of the page, then click on submit. Be sure to check the “I hereby certify….” box before clicking on the Submit button.
Q: Does the F-65 need to match the audited financial statement numbers?
A: Yes. The F-65 should be filed after the audit unless the local unit is a biennial filer.
Q: Does the audit report need to be filed before the submission of the F-65?
A: Yes. Except for biennial audit filers that have filed in the previous year, an audit is required to be filed prior to submitting the F-65.
Q: Where is Governmental Long-Term Debt on the F-65?
A: Governmental Long-Term Debt can be found at the bottom of the Statement of Position tab below “Fund Balance/Net Position.” It is located next to Governmental Capital Assets (Net).
Q: What should be included in Governmental Long-Term Debt?
A: Governmental Long-Term Debt is the total year-end amount of all long-term liabilities including, but not limited to, both long-term debt (such as bonds, notes, and loans) and all other long-term liabilities (such as compensated absences, leases payable, and claims and judgments). Only pension and OPEB liabilities are excluded. For these purposes, this amount also includes both the amounts due in more than one year and the portion due within one year. Only governmental activities are included (this would include internal service funds as well); business-type activities and discretely presented component units are excluded. Governmental Long-Term Debt can be calculated on the Statement of Net Position in the financial statements.
Q: Where is Net Pension Liability on the F-65?
A: Net Pension Liability can be found on the Employee Benefits tab and corresponds to the question “What is the aggregate Net Pension Liability? (If overfunded, please enter as a negative number).”
Q: Where is Net OPEB Liability on the F-65?
A: Net OPEB Liability can be found on the Employee Benefits tab and corresponds to the question “What is the aggregate Unfunded Accrued Liability for the primary government? (If overfunded, please enter as a negative number).”
Q: Are component unit defined benefit pension/OPEB plans included in the calculation of Net Pension/OPEB Liability?
A: Discretely presented component unit plans should be excluded from these two amounts; blended component unit plans should be included.
Q: How do I resubmit the F-65?
A: If you have not received a request from Treasury about an F-65 resubmission, send an email to LAFD_AUDITS@michigan.gov to request the report be opened for resubmission. Once you receive the notification that the report is open, go to https://treas-secure.state.mi.us/LAFDeform/TL41W71.aspx and click the drop downs above the “Create Form” button to find the F-65 showing as a resubmit. The form may also be found below the “Create Form” button where you can click the F-65 showing “Resume” under the Action column. After saving your changes to the form, click the “Next: Attach” button and continue to certify and submit.
Q: I keep getting an error message that directs me to enter the number of police/fire personnel when we have none. I entered 0 and the form will still not submit. What do I do?
A: This is usually because the local unit contracts for police and/or fire services. You should keep 0 as the number of the corresponding personnel and simply enter the amount of the police/fire expenditure in the related line of Amounts Paid to Other Governments on the “Other” tab. This should allow for submission if there are no other errors.
Q: Why do I keep getting the error message of: “Please enter additions to debt on the indebtedness tab?”
A: This is because another financing source of “proceeds from bond/note issuance” has been reported on the Revenues tab. There should at the very least be an amount equivalent to that on the Indebtedness tab under the “Additions” column.
Q: What activities make up the total long term debt amount on the Indebtedness tab?
A: Total long-term debt includes both governmental and business type activity debt. Please exclude component unit long term debt and all pension and OPEB costs. This can be calculated by referring to the long-term debt note in the audited financial statements.
F65 Frequent Errors Table
|
Error Message |
Location |
Solutions |
|---|---|---|
|
There needs to be reduction of debt and/or interest on debt reported on the indebtedness tab. |
Indebtedness Tab
|
Debt service on the expenditure tab is greater than 0, there needs to be reduction of debt and/or interest on the debt reported on the indebtedness tab. If in Expenditure tab, the total Debt Service is greater than 0, then in the Indebtedness tab the total long term debt reductions, or short-term debt reductions, or the sum of any interest on debt must be greater than 0. |
|
There must be debt service reported on the operations tab. |
Expenditure Tab
|
When there is a reduction of debt and/or interest on the indebtedness tab, there must be debt service reported on the expenditures tab. If in the Indebtedness tab the total long-term debt, or short-term debt, or the sum of any interest on debt is greater than 0, then on the Expenditure tab, the total Debt Service must be greater than 0. |
|
The statement of position indicates the existence of pensions. Please enter this information in the employee benefits tab. |
Employee Benefits Tab
|
When net pension assets or net pension liability are greater than 0 on the position tab, there must be a net pension liability on the employee benefits tab. |
|
The statement of position indicates the existence of other postemployment benefits, please enter this information in the employee benefits tab. |
Employee Benefits Tab
|
When net OPEB assets or OPEB obligations are greater than 0 on the position tab, there must be an unfunded accrued liability on the employee benefits tab. Defined Contribution plans cannot have Liabilities or Assets on the state of position tab.
|
|
The amount of income tax collected on the other tab should equal the amount of income tax revenues reported on the operations tab. |
Other Tab
|
The sum of income tax revenues from residents, nonresidents, and other income tax on the other tab must equal the total income tax on the revenue tab. |
|
There should be an expenditure reported for police on the operations tab. |
Expenditure Tab
|
The number of police personnel on the other tab is greater than 0, there should be expenditures reported for police/sheriff/constable on the expenditure tab. On the Other tab, if the number of police personnel is greater than 0, then the Expenditure tab Police/Sheriff/Constable must be greater than 0. |
|
Please enter the number of fire personnel on the other tab. |
Other Tab
|
There is expenditure reported for fire, please enter the number of fire personnel on the other tab. If on the Expenditure tab fire is greater than 0, and is greater than the amount paid to fire on the Other tab, then the number of fire personnel must be greater than 0 on the Other tab. |
|
There should be an expenditure for fire reported on the operations tab. |
Expenditure Tab
|
When the number of fire personnel on the other tab is greater than 0, there should be expenditures reported for fire on the expenditure tab. On the Other tab, if the number of fire personnel is greater than 0, then the Expenditure tab Fire must be greater than 0. |