1. FMIS
R*STARS Closing
Fiscal Year 2017
Part IV

2. GAAP closing schedules Schedules due to GAD by end of day August 8
Schedules G & G-1, due by August 15
Sent in by Financial Agency

3. GAAP Closing Schedules
Control Sheet- Submitted by Financial Agency
Representation of Agency Management
Signed By Chief Financial Officer

4. Schedules (cont.) Separately Submitted Financial Statements
Cash not in R*Stars
Receivables, in total exceeds $100,000- short term, current, and long term. Include appropriated fund.
Clearing Accounts
Balances exceeding $100,000 in a clearing account

5. GAAP Payables & Commitments
Schedules (cont.)
Inventory Balances
For ending balances greater than $250,000
GAAP Payables & Commitments
All Payables and Time Frames
Include appropriated fund
Program may not have any encumbrances
Commitments over $100,000

6. Schedules (cont.) Capital Lease Obligations
Criteria for capitalizing a capital lease is stated on schedule.

7. Schedules (cont.)
Schedule G and Schedule G-1, Sch G-1 Pass Thru to another entity
Check CFDA# and Grant Name
Separately disclose ARRA funds
Review Correspondence
And Grant Agreements

8. Schedules (cont.)
Schedule G (cont.) Talk to federal agencies Check Federal website:

9. Column G: Schedule G (cont.) Direct award = D
Received from a state agency or political subdivision = S
Passed thru to a state agency or political subdivision = P

10. Schedule G (cont.)
Column H: Separate lines on Schedule Research & Development Exp Other Exp

11. Schedule G (cont.)
Schedule G Reconciliation Form Reconcile Federal Funds in R*STARS to Sch G a. Accounts Receivable Deferred Revenue b. Expenditures Explanation of differences

12. Other Assets or Liabilities
Schedules (cont.)
Other Assets or Liabilities
Exceed $100,000
Address GASB# 47-Termination Benefits-early termination benefits as opposed to postemployment benefits

13. Special and Extraordinary Items
Schedules (Cont'd)
Special and Extraordinary Items
Exceeds $3,000,000
Include GASB# 42- Accounting for Impairment of Capital Assets & Insurance Recoveries if material

14. Schedules (cont.) Material Differences DAFR 8580 and 8590 Reports
Compare current & prior year balances

15. Schedules (cont.)
Receivables, Payables, Revenue Sources, & Total Expenditures
Explain Changes of $5,000,000 and 5%

16. Accrued Annual Leave Accrued Vacation Plus FICA Liability
Amounts Earned & Used
Amount Due Within One Year
Workday Annual Leave Report, FMIS, View Direct
Remember dollars not hours
Cannot use an average salary rate
Last year’s ending balance is this year’s beginning balance
Compensated Absence Payout for 6/30 Retirees if not accrued

17. Schedule L -
GASB# 49- Accounting for Pollution Remediation Obligations Will need to co-ordinate with Attorney General’s Office – end of year balance Estimated cost $1,000,000 or more per site.

18. Pollution Obligation Issues
Obligating Events Measurements Recoveries

19. Questions ?
schedules and questions to: or call:
GAD Website:
Closing Document:
Appendix_C
This Presentation: