FMIS R*STARS Closing Fiscal Year 2013 Part II

GAD Form X-18 Submitted by each financial agency (may be at batch agency level) Provides contact information to GAD Send to:

GAD Form G-8 Special funds fund balance retained Legal authority Non-budgeted funds negative cash balance Justification Submitted by Financial Agency

Receipts Effective date - June 31 Valid until July 5 th Collected July 1 or later

Chargebacks Recorded by STO with an effective date - June 31. Bad Checks Program 099. Chargeback Accounts must have zero cash balances at year end. Cash Balances in Chargeback Clearing Accounts must be allocated to proper accounts as year end adjustments.

Check Cancellation The FY of transaction depends on effective date entered by STO. Cancellations by June 30 th = cash receipts for the fiscal year being closed. Check cancellations may be accrued in the fiscal year being closed.

Transfers and Adjusting Entries Use effective date - June 31 or month 13 Until July 15 - other Financial Agencies Or July 26 or until closed- within Financial Agency

R*STARS Rollover Financial Accounts FY 2013 balances will rollover to FY 2014 after posting on June 29 th. R*Stars will close at its normal time on June 28th. R*STARS not available June 29 th or June 30 th. R*STARS available July 1st - July 5 th. Batch Cycles June 28 th, July 1 st, July 2 nd, July 3 rd, and July 5 th. No batch cycle on July 4 th.

R*STARS Checks June 28th Expedite 11:00 R*Stars Closes at normal time

Budget Amendments Submit to DBM - June 14 Agencies must record all Budget Amendments in process beginning June 1 T/C 027 Increase appropriation Decreases to appropriations T/C 027R

Budget Amendments in Process 62 appropriation screen Balance type 04 Approved by DBM

Reversions of Appropriations Automatic at year end once all agencies are closed.

Review DAFR 6000 & 5990 For Overspent encumbered balances Check Current & Prior Fiscal Year Appropriation Balances

Special Revenue Fund Fund Balance that agencies are not allowed to retain Transfer to general fund Agency posts transaction T/C 400 / 401 to transfer revenue to general fund

Revenues Recorded per state policy Record year end accounts receivables & accrued revenues in RSTARS

Federal, Reimbursable Funds Recognition of federal / reimbursable fund revenue same year as expenditure Fund Balance = 0 Accounts Receivable or Deferred Revenue

Accounts Receivable Record on a transaction basis No reversal needed Or record an accrual Reversal will occur

Accrued Revenue T/C 801 will automatically reverse in next fiscal year Reversal will have the same AY Cash receipts same AY as accrual and reversal

Accrued Revenue / Accounts Receivable Reductions Reverse doubtful amounts T/C 113R or 456 Transfers to CCU Revenues not collectible within 60 days of YE deferred in R*Stars

Record Long-Term A/R & Defer Uncollected Revenue If A/R already recorded Use TC 824 & 807 If A/R not already recorded Use TC 825 These TCs reverse in next fiscal year.

Investment Accruals Specific Investments- Accrual Recorded by GAD Reversing entry to new FY Pooled Cash- Interest Allocation Recorded by STO

Accounts Payable Record invoices with an effective date - June 31 Record in July in ADPICS or as a journal entry Record for capital projects fund thru Aug 16

Order of Recording Appropriated Balances PAccounts Payable PAccrued Expenditures PEncumbrances

Accrued Expenditures State policy T/C 803 or 809 Reversal will be same AY Distinguish long term payables using T/C 827

Payroll Accruals Three options: 1)CPB accrues payroll 2)CPB accrues payroll and agency does adjusting entries 3)Agency does own accrual: Notify GAD by May 31 if intend to do your own accrual

Payroll Accruals CPB Accrual Regular- Accrue 19/14 days X PPE 5/28 payroll Regular- PPE 6/11 disbursed in fiscal year being closed Regular- PPE 6/25 dis- bursed in next fiscal year

Payroll Accruals (contd) Contractual- Accrue 12/14 days X PPE 6/4 payroll Contractual- PPE 6/18 disbursed in fiscal year being closed Contractual- PPE 7/2 disbursed in next fiscal year

Payroll Accruals (contd) All accruals and reversals post to Salaries and Fringe Benefits Payable All reversals and disbursements in the new fiscal year will be reflected in the next appropriation year

Payroll Accruals (contd) Compensated Absences Employees who terminated employment by 6/30 Record Liability and Accrue Expenditures using TC 805 TC 805 will reverse in next appropriation year

FMIS R*STARS Closing End of Part II