FMIS R*STARS Closing Fiscal Year 2013 Part II GAD Form X-18 Submitted by each financial agency (may...
-
Upload
jadyn-ayles -
Category
Documents
-
view
212 -
download
0
Transcript of FMIS R*STARS Closing Fiscal Year 2013 Part II GAD Form X-18 Submitted by each financial agency (may...
![Page 1: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/1.jpg)
FMIS
R*STARS R*STARS ClosingClosingFiscal Year 2013Fiscal Year 2013
Part IIPart II
![Page 2: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/2.jpg)
GAD Form X-18Submitted by each
financial agency (may be at batch agency level)
Provides contact information to GAD
Send to: [email protected]
![Page 3: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/3.jpg)
GAD Form G-8
Special funds fund balance retainedLegal authority
Non-budgeted funds negative cash balanceJustification
Submitted by Financial Agency
![Page 4: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/4.jpg)
ReceiptsEffective date - June 31Valid until July 5th
Collected July 1 or later
![Page 5: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/5.jpg)
ChargebacksRecorded 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.
![Page 6: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/6.jpg)
Check CancellationThe 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.
![Page 7: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/7.jpg)
Transfers and Adjusting EntriesUse effective date -
June 31 or month 13Until July 15 - other
Financial AgenciesOr July 26 or until
closed- within Financial Agency
![Page 8: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/8.jpg)
R*STARS Rollover Financial Accounts FY 2013 balances will
rollover to FY 2014 after posting on June 29th.
R*Stars will close at its normal time on June 28th.
R*STARS not available June 29th or June 30th. R*STARS available July 1st - July 5th.
Batch Cycles June 28th, July 1st, July 2nd, July 3rd, and July 5th.
No batch cycle on July 4th.
![Page 9: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/9.jpg)
R*STARS ChecksJune 28th
Expedite 11:00 R*Stars Closes at normal
time
![Page 10: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/10.jpg)
Budget AmendmentsSubmit to DBM - June 14Agencies must record all
Budget Amendments in process beginning June 1
T/C 027 Increase appropriationDecreases to appropriations
T/C 027R
![Page 11: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/11.jpg)
Budget Amendments in Process62 appropriation screenBalance type 04Approved by
DBM
![Page 12: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/12.jpg)
Reversions of AppropriationsAutomatic at year end
once all agencies are closed.
![Page 13: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/13.jpg)
Review DAFR 6000 & 5990For Overspent encumbered balancesCheck Current & Prior Fiscal Year Appropriation Balances
![Page 14: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/14.jpg)
Special Revenue Fund Fund Balance that agencies are not allowed to retain Transferto general fund
Agency posts transaction
T/C 400 / 401 to transfer revenue to general fund
![Page 15: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/15.jpg)
RevenuesRecorded per state
policyRecord year end
accounts receivables & accrued revenues in RSTARS
![Page 16: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/16.jpg)
Federal, Reimbursable FundsRecognition of federal /
reimbursable fund revenue same year as expenditure
Fund Balance = 0Accounts Receivable or
Deferred Revenue
![Page 17: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/17.jpg)
Accounts ReceivableRecord on a
transaction basisNo reversal needed
Or record an accrualReversal will occur
![Page 18: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/18.jpg)
Accrued RevenueT/C 801 will automatically
reverse in next fiscal yearReversal will have the
same AYCash receipts same AY as
accrual and reversal
![Page 19: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/19.jpg)
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
![Page 20: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/20.jpg)
Record Long-Term A/R &
Defer Uncollected Revenue If A/R already recorded
Use TC 824 & 807If A/R not already recorded
Use TC 825These TC’s reverse in next
fiscal year.
![Page 21: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/21.jpg)
Investment AccrualsSpecific Investments-
Accrual Recorded by GAD
Reversing entry to new FY
Pooled Cash- Interest Allocation Recorded by STO
![Page 22: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/22.jpg)
Accounts PayableRecord invoices with an
effective date - June 31Record in July in ADPICS
or as a journal entryRecord for capital projects
fund thru Aug 16
![Page 23: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/23.jpg)
Order of Recording Appropriated Balances
Accounts PayableAccrued ExpendituresEncumbrances
![Page 24: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/24.jpg)
Accrued ExpendituresState policyT/C 803 or 809Reversal will be same AYDistinguish long term
payables using T/C 827
![Page 25: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/25.jpg)
Payroll AccrualsThree options:1) CPB accrues payroll2) 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
![Page 26: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/26.jpg)
Payroll Accruals CPB AccrualRegular- Accrue 19/14 days X
PPE 5/28 payrollRegular- PPE 6/11 disbursed in
fiscal year being closed Regular- PPE 6/25 dis- bursed in next fiscal year
![Page 27: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/27.jpg)
Payroll Accruals (cont’d)Contractual- Accrue 12/14
days X PPE 6/4 payrollContractual- PPE 6/18
disbursed in fiscal year being closed
Contractual- PPE 7/2 disbursed in next fiscal year
![Page 28: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/28.jpg)
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
![Page 29: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/29.jpg)
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
![Page 30: 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.](https://reader035.fdocuments.us/reader035/viewer/2022070306/55166c0f550346a2698b55ea/html5/thumbnails/30.jpg)
FMIS
R*STARS R*STARS ClosingClosing
End of Part IIEnd of Part II