The annual accounts for the SDFI are prepared and presented on the basis of detailed guidelines specified in the government’s financial regulations (“the regulations”). The accounts accord with the requirements in section 3.4.1 of the regulations and more detailed provisions in circular R-115 of November 2015 from the Ministry of Finance, with the exceptions which apply for the SDFI.
Appropriation reporting and the general ledger accounts report are prepared on the basis of section 3.4.2 in the regulations on the basic principles for annual accounts:
a) the accounting year matches the calendar year
b) the accounts present all reported expenses and revenues for the accounting year
c) expenses and revenues are shown gross in the accounts
d) the accounts are prepared in accordance with the cash basis.
The formats of the appropriations accounts and the general ledger accounts report are based on the same principles, but grouped in accordance with different charts of accounts. These principles correspond with requirements in section 3.5 of the regulations on how undertakings must report to the government accounts. The item “net reported to appropriation accounts” is identical in both presentations.
Pursuant to the requirements in section 3.7.1 of the regulations, the undertaking is affiliated with the government’s group account scheme for state-owned companies in Norges Bank.
The appropriation accounts are formatted with an upper part containing the appropriation reporting and a lower part showing the amounts entered for the enterprise in the capital accounts. The appropriation reporting presents accounting figures reported by the enterprise to the government accounts. These are posted in accordance with the types and categories in the appropriation accounts which the enterprise is authorised to use. The column on total allocation shows the amounts made available to the enterprise in the letter of assignment for each government account (types/categories). The presentation also shows all financial assets and liabilities entered against the enterprise in the government’s capital accounts.
The SDFI receives estimated appropriations. No authorities are held to charge from/to types/categories in other undertakings.
General ledger accounts report
The general ledger accounts report is formatted with an upper part which shows what has been reported to the government accounts in accordance with the standard chart of accounts for state-owned undertakings and a lower part which presents assets and liabilities included in the open account with the Treasury. The general ledger accounts report presents accounting figures reported to the government accounts in accordance with the standard chart of accounts for state-owned undertakings. The report is not formatted in accordance with the method recommended by the Norwegian Government Agency for Financial Management (DFØ), but incorporates adjustments which reflect special conditions for public-sector undertakings.