1. Fiscal Year 2018 TransNet Fiscal & Compliance (AUP) Audit Schedule C Preparation
Welcome
Hope this workshop is beneficial to you
Ask questions anytime – open to discussion

2. Set Up the FY 2018 Schedule Update Year Add new line for FY 2018
Set up Cumulative Balances

3. Set Up the FY 2018 Schedule
Use this column if Funds were Committed in the RTIP & have not been spent
Either apply Interest Income here or to each line with unspent/uncommitted funds
Represents all funds Programmed in the RTIP that have not been spent

4. Gather Data Locate Programmed Projects in the RTIP
Run systems reports to determine:
Revenue received
Interest earned
Expenditures
Determine if prior year data requires adjustments

5. What are my Programmed Projects?
On the Activity Bar in ProjectTrak, choose
Project Tools
My Project List
Lead Agency = your jurisdiction
Project Type = Local Improvements - RAS

6. Locate ‘Loc Funds – Local RTCIP’
If there are current year expenditures, ensure the MPO ID has funds Programmed for the current year.
Schedule C: Enter the MPO ID in the MPO ID column next to the corresponding year. (Note: there may be multiple MPO IDs for a given year)

7. Enter MPO ID in Schedule
Enter MPO ID(s) for each year with expenditures
Enter MPO ID(s) for at least Project Year FY 2011 to indicate funds have been Committed within 7 years

8. How do I apply Interest?
FY09-FY15: Interest earned was applied to each year that had a beginning balance
FY 2016+
Are prior years funds Committed (Programmed) in the RTIP?
If yes, then apply all Interest earned in FY 2018 to the pooled ‘Interest Income’ line
If no, okay to apply interest to years with beginning balance that have Uncommitted funds or to apply to the pooled ‘Interest Income’ line

9. How do I apply Interest?
If Cumulative 6/30/17 is $0, then do not apply more interest to that line

10. How do I apply Interest?
If Balance on any given line is fully Committed in the RTIP at 6/30/18, then do not apply Interest to those Project Years, and choose one of the following options:
Apply interest to each Project Year that is not fully Committed; or (see next slide)

11. How do I apply Interest?
Apply all FY 2018 to a pooled ‘Interest Income’ line

12. How do I apply Interest?
If Balance at 6/30/18 is NOT fully Committed in the RTIP for a given Project Year, then choose one of the following options:
Apply interest to each Project Year that is not fully Committed
Apply all FY18 interest to a pooled ‘Interest Income’ line

13. Apply Activity
Apply all Exaction (RTCIP) Fees collected in FY18 to Project Year ‘For Fiscal Year ended June 30, 2018’
Apply expenditures to the oldest year with a balance at 6/30/18 (FIFO)
Located a prior year adjustment? Enter in Adjustments column with the applicable Project Year
Footnote is required in the year of adjustment
Update the Cumulative Status – June 30, 2018
FY 2010 row will drop off after FY18 audit is complete AND there is no FY17 and FY18 balance

14. How Many Years of Activity?
Remove Project Year 2010 if FY18 & FY17 Cumulative Status is $0

15. Questions? Contacts: Ariana Zur Nieden, RTCIP-specific questions
Sue Alpert, RTIP & ProjectTrak questions
Tritia Foster, audit questions
Sam Diche, general TransNet questions