FMX Update - AFR Long-Term Liability Note Web Application Now Available

AFR Long-Term Liability Note Web Application Now Available

The Long-Term Liability Note (LTLN) Web application is now available on FMX’s AFR website. You can find the LTLN in the AFR Web Applications under Tools in the right-hand navigation menu.

All agencies with long-term liability account balances are required to use LTLN to input their long-term liability note disclosure. The LTLN extracts the long-term liability USAS GL account balances to streamline the reconciliation process.

After disclosure information is entered and certified in LTLN, a report is generated in the format of the “Note 5 – Summary of Changes in Long-Term Liabilities” and “Notes and Loans Debt Service Requirements” tables. LTLN reports are used as the agency’s official submission of long-term liabilities summary information for the CAFR process.

Read more about Note 5 – Long-term Liabilities and LTLN.

Important Note: Since agencies must disclose long-term liabilities in the LTLN web application, the traditional submission of “Note 5 – Long-Term Liabilities” as part of the agency’s AFR submission (email, fax or paper) package is no longer necessary.

 

 

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