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

2. Send to: mhayes@comp.state.md.us
GAD Form X-18
Submitted by each financial agency (may be at batch agency level)
Provides contact information to GAD
Send to:

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

4. Collected July 1 or later
Receipts
Effective date - June 31
Valid until July 7th
Collected July 1 or later

5. 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.

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

7. Transfers and Adjusting Entries
Use effective date - June 31 or month 13
Until July 15 - other Financial Agencies
Or July 22 or until closed- within Financial Agency

8. R*STARS Rollover
Financial Accounts FY 2017 balances will rollover to FY 2018 after posting on June 30th.
R*Stars will close at its normal time on June 30th.
R*STARS not available July 1st.
R*STARS available on July 3rd & 4th.
Batch Cycles June 30th & July 3rd.
No batch cycle on July 4th.

9. R*STARS Checks
June 30th
Expedite 11:00
R*Stars Closes at normal time

10. Budget Amendments Submit to DBM - June 15
Agencies must record all Budget Amendments in process beginning June 1
T/C 027 Increase appropriation
Decreases to appropriations T/C 027R

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

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

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

14. Special Revenue Fund Balances that agencies are not allowed to retain, transfer to the General Fund.
Agency posts transaction
T/C 400 / 401 to transfer revenue to general fund

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

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

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

18. T/C 801 will automatically reverse in next fiscal year
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

19. 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

20. 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 TC’s reverse in next fiscal year.

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

22. Record invoices with an effective date - June 31
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 15

23. Order of Recording Appropriated Balances
Accounts Payable
Accrued Expenditures
Encumbrances

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

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

26. Payroll Accruals CPB Accrual
Regular- Accrue 10/14 days X PPE 6/06 payroll
Regular- PPE 6/ disbursed in fiscal year
being closed
Regular- PPE 7/04
disbursed in next fiscal year

27. Payroll Accruals (cont’d)
Contractual- Accrue 17/14 days X PPE 5/30 payroll
Contractual- PPE 6/13 disbursed in fiscal year being closed
Contractual- PPE 6/27 & 7/11 disbursed in next fiscal year

28. Payroll Accruals (cont’d)
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

29. Payroll Accruals (cont’d)
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

30. FMIS
R*STARS Closing
End of Part II