FMIS
R*STARS R*STARS ClosingClosingFiscal Year 2013Fiscal Year 2013
Part IIPart II
GAD Form X-18Submitted by each
financial agency (may be at batch agency level)
Provides contact information to GAD
Send to: [email protected]
GAD Form G-8
Special funds fund balance retainedLegal authority
Non-budgeted funds negative cash balanceJustification
Submitted by Financial Agency
ReceiptsEffective date - June 31Valid until July 5th
Collected July 1 or later
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.
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.
Transfers and Adjusting EntriesUse effective date -
June 31 or month 13Until July 15 - other
Financial AgenciesOr 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 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.
R*STARS ChecksJune 28th
Expedite 11:00 R*Stars Closes at normal
time
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
Budget Amendments in Process62 appropriation screenBalance type 04Approved by
DBM
Reversions of AppropriationsAutomatic at year end
once all agencies are closed.
Review DAFR 6000 & 5990For Overspent encumbered balancesCheck Current & Prior Fiscal Year Appropriation Balances
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
RevenuesRecorded per state
policyRecord year end
accounts receivables & accrued revenues in RSTARS
Federal, Reimbursable FundsRecognition of federal /
reimbursable fund revenue same year as expenditure
Fund Balance = 0Accounts Receivable or
Deferred Revenue
Accounts ReceivableRecord on a
transaction basisNo reversal needed
Or record an accrualReversal will occur
Accrued RevenueT/C 801 will automatically
reverse in next fiscal yearReversal will have the
same AYCash 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 & 807If A/R not already recorded
Use TC 825These TC’s reverse in next
fiscal year.
Investment AccrualsSpecific Investments-
Accrual Recorded by GAD
Reversing entry to new FY
Pooled Cash- Interest Allocation Recorded by STO
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
Order of Recording Appropriated Balances
Accounts PayableAccrued ExpendituresEncumbrances
Accrued ExpendituresState policyT/C 803 or 809Reversal will be same AYDistinguish long term
payables using T/C 827
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
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
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
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
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
FMIS
R*STARS R*STARS ClosingClosing
End of Part IIEnd of Part II