LFO Training

1
LFO Training

• Examples of Correct and Not-so Correct Reporting
• August 27, 2008

2
Use the Reporting Manual

• The LFO Reporting Manual provides step by step
  instructions with explanations of each data
  field.
• Use this resource as your primary tool when
  entering data to the LFO website.
• This presentation attempts to provide some common
  mistakes from the past and provide examples of
  how to avoid making the same mistakes.

3
Common Mistakes

• Not reporting all accounts in Section II
• Not reporting accounts under Section III
• Reporting number of accounts without a dollar
  amount (and vice versa)
• Reporting accounts under BOTH Sections III and V

4
Not Reporting All Accounts in Section II
Note that the accounts outstanding (ending
balance) reported in Section III are more than
the ending balance reported in Section II. The
accounts reported in Sections III and V should
never be more than the ending balance reported in
Section II.
5
Not Reporting All Accounts in Section II
(corrected)
Note that the ending balance reported in Section
II is now more than the accounts outstanding
(ending balance) reported in Section III. This
example assumes there are no accounts reported as
exempt from assignment. If there are accounts
reported as exempt, the ending balance reported
in Section II should be more than the sum of
Sections III and V.
6
Not Reporting Accounts Under Section III
ORS 293.231 states that a state agency shall
offer for assignment every liquidated and
delinquent account to a private collection agency
or to the Department of Revenue not later than 90
days from the date the account was liquidated or
90 days from the date last payment. So unless the
account is exempt from assignment and is reported
in Section V, all agencies with receivables by
statute are required to use a PCF or DOR. If an
agency uses DOR, the statute requires the account
to be assigned to a PCF if DOR is unable to
collect a payment. So failure to report accounts
under Section III without a valid exemption under
statute is admitting that the agency is not
following ORS 293.231.
7
Not Reporting Accounts Under Section III
(corrected)
Now the reporting includes accounts assigned to
DOR and a PCF as required in ORS 293.231. Note
Accounts should only be listed as assigned under
Section III or as exempt under Section V, not
both.
8
Reporting of Accounts w/o a Amount (and vice
versa)

• If there is a balance reported for Section III or
  V, there should be a corresponding number of
  accounts listed.
• If there is an ending number of accounts listed,
  then a dollar value should be listed as well.

9
Reporting of Accounts w/o a Amount (and vice
versa) (corrected)
Now the reporting includes both the number and
dollar value of accounts assigned to DOR and PCF.

10
Reporting Accounts Under BOTH Sections III and V
Section V Total 16
12750
Section III Total 16
12750
11
Reporting Accounts Under BOTH Sections III and V
(corrected)
Section V Total 6
6050
Section III Total 10
5550
12
Additional Resources

• State Controllers Division website
  http//www.oregon.gov/DAS/SCD/SRS/lfo.shtml This
  site contains
• link to the 2008 Reporting Manual
• Previous LFO Reports
• Agency list
• Frequently asked questions about LFO reporting
• Summary of the last seven years reporting totals
• During September, for your convenience there will
  be a link to the LFO reporting website and
  instructions for obtaining your agencies password

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Questions?

• If you have any questions while preparing or
  inputting your data to the LFO website, please
  call
• Gerold Floyd
• Department of Administrative Services
• SWARM Coordinator
• 503-378-3156 ext 231