FMQuery — AFR Desk Review — Financial Statement Queries Checklist
These queries are designed to assist in verification of various financial statement amounts. Their purpose is to provide assistance in preventing errors in the financial statements that are submitted to FRS. These are the same queries that FRS uses when performing desk review for the ACFR. Some of the CR queries previously provided by ad-hoc reporting have been included.
The queries below rely on well-established preprogrammed FMQuery-SIRS financial statement data. In most cases they are applying a filter to the data to highlight possible errors in areas where there is risk of noncompliance with the AFR Reporting Requirements.
Balance Sheet
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Purpose Adjustment Correction Details To review Other Accounts Receivable is used only for immaterial amounts (<5% of total receivables) unless the Agency discloses in Note 1. Adjustment must be made to reclassify to an appropriate receivable category. This report is based off of the Balance Sheet (DAFR 8580). It requires an Agency Number and a Fiscal Year to run the report. It looks at GL 0200, 0201, 0205, 0218, 0220, 0230, 0231, 0232, 0233, 0234, 0236, 0237, 0238, 0240, 0241, 0242, 0245, 0247, 0250, 0270, 0279, 0281, 0306, 0316, 0455, 0467, 0476, 0477 between GAAP GL Category 01 and 60. GL 0238 will then need to be compared to the total balance to see if it meets the 5% threshold. -
Purpose Adjustment Correction Details To review Other Assets is used only for immaterial amounts (<5% of total assets) unless the Agency discloses in Note 1. Adjustment must be made to reclassify to an appropriate asset category. This report is based off of the Balance Sheet (DAFR 8580). It requires an Agency Number and a Fiscal Year to run the report. It looks at GAAP GL Cat 21 and 26 between GAAP GL Category 01 and 60 where the amount is not equal to zero. GL 0385 and GL 0432 will then need to be compared to the total balance to see if it meets the 5% threshold. -
Purpose Adjustment Correction Details To review Other Accounts Payable is used only for immaterial amounts (<5% of total payables) unless the Agency discloses in Note 1. Adjustment must be made to reclassify to an appropriate payable category. This report is based off of the Balance Sheet (DAFR 8580). It requires an Agency Number and a Fiscal Year to run the report. It looks at GL 1009, 1010, 1011, 1012, 1015, 1016, 1020, 1025, 1030, 1035, 1040, 1045, 1049, 1051, 1055, 1060, 1065, 1066, 1068, 1070, 1110, 1115, 1131, 1145, 1155, 1210, 1220, 1260, 1300, 1305, 1350, and 1450 between GAAP GL Category 01 and 60 where the amount is not equal to zero. GL 1150 and 1450 will then need to be compared to the total balance to see if it meets the 5% threshold. -
Purpose Adjustment Correction Details To review governmental fund types to ensure they do not report 1149. It is not appropriate to report Funds Held for Others in a Governmental Fund Type. More than likely it will be offset by some other GL Balance and should be moved to Accounts Payable or other more appropriate GL. This report is based off of the Balance Sheet (DAFR 8580). It requires an Agency Number and a Fiscal Year to run the report. It looks at GL 1149 for Fund Types 01, 02, 03, 04, 14, and 19 in GAAP GL Category between 01 and 60. -
Purpose Adjustment Correction Details No university should have these balances. They should have been eliminated by the system. Reclassify accordingly. This report is based off of the statement of net assets. It requires an Agency Number and a Fiscal Year to run the report. It looks at GL Accounts 0282 and 1052. -
Purpose Adjustment Correction Details To ensure no category of restricted net assets can be negative. Checks Fund Type 05 restricted net assets for any positive balances in Class 420. Natural credit balance equals negative dollar amount so positive amount needs to be removed. This report is based off of the Statement of Net Assets (DAFR 8581). It requires an Agency Number and a Fiscal Year to run the report. It looks at GAAP Fund Type 05 and GL Class 420 in GAAP GL Category between 01 and 60. Looks at the GAAP Fund level. -
Purpose Adjustment Correction Details To ensure no category of restricted net assets can be negative. Checks Fund Type 05 restricted net assets for any positive balances in Class 420. Natural credit balance equals negative dollar amount so positive amount needs to be removed. This report is based off of the Statement of Net Assets (DAFR 8581). It requires an Agency Number and a Fiscal Year to run the report. It looks at GAAP Fund Type 05 and GL Class 420 in GAAP GL Category between 01 and 60. Looks at the D23 Fund level. -
Purpose Adjustment Correction Details There should not be any deficit allocated balance. Only Unassigned is allowed to have a deficit balance. Reallocate fund balance accordingly. This report is based off of the Balance Sheet (DAFR 8580). It requires an Agency Number and a Fiscal Year to run the report. It looks at GLs 2310, 2315, 2320 and 2325 in GAAP GL Category between 01 and 60. Only looks at GAAP Fund Types 01-04. -
Purpose Adjustment Correction Details Fund balances at the D23 level to assist with re-allocation if necessary for the DR 110. Reallocate fund balance accordingly. This report is based off of the Balance Sheet (DAFR 8580). It requires an Agency Number and a Fiscal Year to run the report. It looks at GL 2310, 2315, 2320, and 2325 in GAAP GL Category between 01 and 60. Only looks at GAAP Fund Types 01-04. -
Purpose Adjustment Correction Details To ensure Fund Balance Allocation equals the sum of the GL Accounts. Reallocate fund balance accordingly. This report is based off the Balance Sheet (DAFR 8580). It requires an Agency Number and a Fiscal Year to run the report. It looks at GL 0285, 0290, and 2301 in GAAP GL Category between 01 and 60. Only looks at GAAP Fund Types 01-04. -
Purpose Adjustment Correction Details To ensure Fund Balance Allocation equals the sum of the GL Accounts. Reallocate fund balance accordingly. This report is based off the Balance Sheet (DAFR 8580). It requires an Agency Number and a Fiscal Year to run the report. It looks at GL 0295 and 2302 in GAAP GL Category between 01 and 60. Only looks at GAAP Fund Types 01-04. -
Purpose Adjustment Correction Details To ensure Fund Balance Allocation equals the sum of the GL Accounts. Reallocate fund balance accordingly. This report is based off the Balance Sheet (DAFR 8580). It requires an Agency Number and a Fiscal Year to run the report. It looks at GL 0306, 0462, 0466, 0467, 0476, 0477, and 2303 in GAAP GL Category between 01 and 60. Only looks at GAAP Fund Types 01-04. -
Purpose Adjustment Correction Details To ensure there are no remaining transactions to correct in the system clearing accounts. Research activity and make adjustments to ensure system clearing GLs are equal to 0. This report is based off the Balance Sheet (DAFR 8580). It requires an Agency Number and a Fiscal Year to run the report. It looks at GL 9999 and 9992 at the D23 Fund level.
Operating Statement
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Purpose Adjustment Correction Details To document any large negative amounts. Determine if the negative amounts should be reclassified. For reversing entries of prior year transactions, negative values may be appropriate. This report is based off the operating statements for governmental, proprietary and fiduciary. It requires an agency number and a fiscal year to run the report. It looks at all 3XXX COBJs and filters to return any Debit (positive) amounts. -
Purpose Adjustment Correction Details To document any large negative amounts. Determine if the negative amounts should be reclassified. For reversing entries of prior year transactions, negative values may be appropriate. This report is based off the operating statements for governmental, proprietary and fiduciary. It requires an agency number and a fiscal year to run the report. It looks at all 7XXX COBJs and filters to return any Credit (negative) amounts. -
Purpose Adjustment Correction Details To ensure there are no “back-out not applicable” revenues or expenditures at the GAAP Source Object level. If not $0 at the GAAP Source Object level, research and correct. This report is based off the operating statements for governmental fund types. It requires an agency number and a fiscal year to run the report. It looks for COBJ activity in GAAP Source Objects 0900 and 0910. -
Purpose Adjustment Correction Details To ensure there are no “back-out not applicable” revenues or expenditures at the GAAP Source Object level. If not $0 at the GAAP Source Object level, research and correct. This report is based off the operating statements for proprietary fund types. It requires an agency number and a fiscal year to run the report. It looks for COBJ activity in GAAP Source Objects 1998 and 1999. -
Purpose Adjustment Correction Details To ensure there are no “back-out not applicable” revenues or expenditures at the GAAP Source Object level. If not $0 at the GAAP Source Object level, research and correct. This report is based off the operating statements for fiduciary fund types. It requires an agency number and a fiscal year to run the report. It looks for COBJ activity in GAAP Source Objects 2900 and 2910. -
Purpose Adjustment Correction Details To ensure that activity nets to zero for governmental fund types on the govt-wide financial stmts. If activity does not net to $0 at the Govt-Wide GAAP Source Object level, research and make appropriate entries. This report is based off the operating statements for governmental fund types and the basis conversion fund types. It requires an agency number and a fiscal year to run the report. It looks for COBJ activity in the govt-wide GAAP Source objects 3840, 3845, 3850, 3855, 3860, 3865, 3870, 3875, and 3880.
Cash Flow — Central Review
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Purpose Adjustment Correction Details To calculate Ending Balances for Cash and Cash Equivalents for the previous year's Statement of Net Assets. If beginning balances for Cash and Cash Equivalents on the Cash Flow Statement does not tie to prior year ending balances, then research the difference. Any needed adjustments should be made to the Cash Flow Statement. This report is based off of the Statement of Net Assets (DAFR 8580). It requires an Agency Number and Fiscal Year. It pulls the balances for GL Accounts with a Class 001-006, 010-014, and 120, 122, 123. -
Purpose Adjustment Correction Details To calculate Cash and Cash Equivalents Ending Balance on current year’s Statement of Net Assets. If Cash and Cash Equivalents does not tie to ending balance on Statement of Net Assets, then research the difference. Any needed adjustments should be made to the Cash Flow Statement. This report is based off of the Statement of Net Assets (DAFR 8580). It requires an Agency Number and Fiscal Year. It pulls the balances for GL Accounts with a Class 001- 006, 010-014, and 120, 122, 123. -
Purpose Adjustment Correction Details To calculate the operating income(loss) for all full reporting agencies with proprietary funds. The SOCF line "Operating Income (Loss)" amount should tie to Operating Income (Loss) on the operating statement. Any needed adjustments should be made to the Cash Flow Statement. This report is based off of the Statement of Changes Assets and Liabilities (DAFR 8600). It requires an Agency Number and Fiscal Year in order to run the report. It looks at Fund Types 05 and 06 for the sum of GAAP Cat Prop 02 (operating revenues) less the sum of GAAP Cat Prop 03 (operating expenses). -
Purpose Adjustment Correction Details To calculate the bad debt expense on the reconciliation section of the SOCF. The SOCF reconciliation line for the Bad Debt Expense amount should tie to the Bad Debt Expense amount on the operating statement for state agencies only. Higher Education uses different methodology and may not tie between the two statements. This report is based off of the Statement of Changes Assets and Liabilities (DAFR 8600). It requires an Agency Number and Fiscal Year in order to run the report. It looks at Fund Type 05, 06, and 15 for COBJ 7862. -
Purpose Adjustment Correction Details To calculate the depreciation and amortization expense on the reconciliation section of the SOCF. The SOCF reconciliation line for the Depreciation and Amortization amount should tie to the Depreciation and Amortization amounts on the operating statement. Any needed adjustments should be made to the Cash Flow Statement. This report is based off of the Statement of Changes Assets and Liabilities (DAFR 8600). It requires an Agency Number and Fiscal Year in order to run the report. It looks at Fund Type 05, 06, and 15 for COBJ 7877, 7878, 7879, 7936, 7937, 7938, and 7939. -
Purpose Adjustment Correction Details Calculate the Net Change in Fair Value of Investments on the operating statement that should be included as additional information on the SOCF. Net Change in Fair Value of Investments on the SOCF should tie to the total of net changes on the operating statement. Any needed adjustments should be made to the Cash Flow Statement. This report is based off of the Statement of Changes Assets and Liabilities (DAFR 8600) which is a combined Union query. It requires an Agency Number and Fiscal Year in order to run the report. It looks at Fund Type 05, 06, and 15 for GAAP Source Object Proprietary 1026, 1027, 1254, and 1255 in GL Category 55.
Agency Funds
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Purpose Adjustment Correction Details Review Appropriated Fund 0001 and 0882 for Cash in State Treasury in Fund Type 09. These are category II statewide agency funds and should be reported by 902. This report is based off of the Statement of Net Assets (DAFR 8580). It requires an Agency Number and Fiscal Year in order to run the report. It looks at Appropriated Fund 0001 and 0882 for GL Account 0045, 0047, 0048, 0071, and 0451 in Fund Type 09 between GL Category 1 and 60. -
Purpose Adjustment Correction Details Review Fund 0900 for large balances. Agencies with material balances in these accounts at the end of the year are required to make additional AFR entries in order to report the balances in the most appropriate fund type. See the section in Reporting Requirements Chapter 3 titled "Reclassifying Material Cash Balances That Remain in Suspense Fund FT09 at Fiscal Year-End." This report is based off of the Statement of Net Assets (DAFR 8580). It requires an Agency Number, Fiscal Year, and GAAP Fund to run the report. It looks at Fund Type 09 and GL Category 1 and 60. -
Purpose Adjustment Correction Details Review Funds 0807, 0942, and 0980 Accounts Receivable and Funds Held for Others have been eliminated if the two GL account balances exactly offset each other and there are no other account balances in the fund. Any CIST in these three funds must be reported. In general, funds 0807 and 0901 will only have cash in state treasury and funds held for others, which are not eliminated. Funds 0942 and 0980 will only have accounts receivable and funds held for others, which will offset each other, and are eliminated. These are category I statewide agency fund listed in Reporting Requirements Chapter 3. This report is based off of the Statement of Net Assets (DAFR 8580). It requires an Agency Number and Fiscal Year in order to run the report. It looks at Fund 0807, 0942, and 0980 for GL Account 0230, 0231, 0238, and 1149 between GL Category 1 and 60. -
Purpose Adjustment Correction Details Review GAAP Fund 0899, 0979, 9010, 9011, and 9012 for Cash in State Treasury. These are category III statewide agency funds and should be reported by 902. This report is based off of the Statement of Net Assets (DAFR 8580). It requires an Agency Number and Fiscal Year in order to run the report. It looks at GAAP Fund 0899, 0979, 9010, 9011, and 9012 for GL Account 0045, 0047, 0048, 0071, and 0451 between GL Category 1 and 60 in Fund Type 09. -
Purpose Adjustment Correction Details Review Agency Funds to ensure there are no Fund Balances. Agency Funds should not report any fund balance since Assets offset Liabilities. This report is based off of the Statement of Net Assets (DAFR 8580). It requires an Agency Number and Fiscal Year in order to run the report. It looks at GL 0048 and 2040-3950 between GL Category 1 and 60 in Fund Type 09. -
Purpose Adjustment Correction Details To ensure that all activity nets to $0 at the GAAP Source Object level and the GAAP Fund level. If activity does not net to zero, research and make appropriate corrections. This report is based off the operating statement for Fund Type 09. It requires an Agency Number and a Fiscal Year to run the report. It looks at all nominal activity in the GAAP Funds for Fund Type 09.
Schedule of Expenditures of Federal Awards / State Pass Through Reconciliation
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Purpose Adjustment Correction Details Review pass through activity by GL account and COBJ. Support documentation for the SEFA web application. This report is based off the operating statement for governmental and proprietary fund types. It requires an Agency Number and a Fiscal Year to run the report. It looks for activity for COBJs 3971, 3878, 7971 and 7978. -
Purpose Adjustment Correction Details Review pass through activity by the AGL. Support documentation for the SEFA web application. This report is based off the operating statement for governmental and proprietary fund types. It requires an Agency Number and a Fiscal Year to run the report. It looks for activity for COBJs 3971, 3878, 7971 and 7978 and consolidates by the AGL. -
Purpose Adjustment Correction Details Review pass through activity by GL account and COBJ. Support documentation for the SPTR web application. This report is based off the operating statement for governmental and proprietary fund types. It requires an Agency Number and a Fiscal Year to run the report. It looks for activity for COBJs 3725, 3842, 7614 and 7615. -
Purpose Adjustment Correction Details Review activity by the AGL. Support documentation for the SPTR web application. This report is based off the operating statement for governmental and proprietary fund types. It requires an Agency Number and a Fiscal Year to run the report. It looks for activity for COBJs 3725, 3842, 7614 and 7615 and consolidates by the AGL.