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Accounting Policy Meeting
Thursday, June 13, 2024

Agenda

Meeting Handout PDF

Time Topic Speaker
10–10:05 a.m. Welcome and Introductions

Lawrence Koonce, expenditure assistance team lead, Fiscal Management Division, Texas Comptroller of Public Accounts
10:05–10:25 a.m. GR Reconciliation Process

Shelly Arnold, CPA, special projects analyst, Fiscal Management Division, Texas Comptroller of Public Accounts
10:25–11 a.m. State Pass-Through Updates

TBD, financial reporting analyst, Fiscal Management Division, Texas Comptroller of Public Accounts

11–11:20 a.m. SEFA Updates

Irma Toth & Dina Fletcher, financial reporting analyst, Fiscal Management Division, Texas Comptroller of Public Accounts
11:20–11:40 a.m. Miscellaneous Updates

TBD, financial reporting analyst, Fiscal Management Division, Texas Comptroller of Public Accounts
11:40–11:55 a.m. Questions

Financial Reporting and Appropriation Control sections, Fiscal Management Division, Texas Comptroller of Public Accounts

Attendees can choose to attend the June 13 (10 a.m.–12 p.m. CDT) one of two ways:

  • Attend in person at:
    Barbara Jordan Building, Room 2.034
    1601 Congress Ave., Austin, TX 78701

  • Attend online by:
    Registering for the June 13 Financial Reporting Updates webinar (via Webex). After registering, you will receive a confirmation email containing information about joining the webinar.

    Tips to Follow During the Webinar:

    • Use Google Chrome as the internet browser to avoid Webex connectivity issues.
    • If you lose the connection to the webinar while it is in progress, find your registration confirmation email and click the link to join the webinar again. The presentation should resume in progress.
    • If you are using a web browser with multiple tab functionality, open a new window with only a single tab to ensure you do not have multiple sessions open.

    To End the Webinar:

    At the end of the presentation, the moderator will end the webinar. Close your web browser when the webinar is over.

CPE Credit:

At this time, no CPE Credit is offered.

Contacts

If you have questions about the webinar, email the Expenditure Assistance section.

Questions and Answers

General Financial Reporting

The SPTR instructions on the AFR Reporting Requirements website were updated. There are no plans for web-based training at this time. Please contact your assigned financial reporting analyst for assistance.

Yes. The Comptroller’s office follows the changes set forth by the federal government. All Furniture & Equipment, Vehicles, Boats and Aircraft with the current capitalization threshold of $5,000 for assets placed into service on or before Aug. 31, 2024 were all increased to a $10,000 capitalization threshold for assets placed into service on or after Sept. 1, 2024. Additional information will presented at the Aug. 15 AP meeting and in future FMXtra announcements.

Yes. The Comptroller’s office will be making the payroll benefit transfers between an agency and either agency 902 or agency 327. Each agency can review the transactions before they are made.

Yes.

General Revenue (GR) Reconciliation

To summarize, the data in the General Revenue Reconciliation web application was migrated to Workiva. The Financial Reporting section is automating the existing GR queries, which updates the data several times a day and gives it a “real time” basis. This creates the adjusting entries that the appropriation control officer and the financial reporting analyst will upload to USAS, and the agencies will have the opportunity to review the entries, if they wish.

The Financial Reporting section can run the GR Reconciliation reports as often as the agency needs them in order for the agency to successfully complete the 3-way reconciliation.

Yes. Each university system will receive a summary workbook that includes each of their components as well as the working paper adjustments (similar to the existing template in the Reporting Requirements) as a downloadable Excel file.

The General Revenue Reconciliation web application is no longer accessible to agencies and does not need to be certified. The format of the worksheet and the data analysis was migrated to Workiva, which is a reporting tool used by the Comptroller’s Financial Reporting section. Beginning Sept. 1, each agency may request their workbook from their financial reporting analyst.

Any manual amounts not flowing through USAS need to be provided to the Comptroller’s Financial Reporting section for inclusion in the GR Reconciliation worksheet. The Financial Reporting section is expecting to receive this data from the source agencies. However, your agency may provide this data if it already has it.

Yes. the Comptroller’s office will be making the entries to record the net change in cash for the GR Reconciliation. Agencies will be provided new T-codes to make their Shared Cash entries. The Funds Held for Others in GAAP Fund Type 01 should be reclassified.

Payroll benefit appropriations are not automatically zeroed out. An analysis will be done to determine if the balance needs to be returned or if there needs to be a draw for additional funding. The analysis and journal entry are included in the agency’s GR workbook for review. The upload to USAS can be coordinated with the agency’s appropriation control office and financial reporting analyst.

Beginning Sept. 1 (after the cash stops moving and the accruals are posted as of Aug. 31), agencies can request the GR Reconciliation worksheet through their financial reporting analyst. Requests to complete the GR Reconciliation early (in September) need to be submitted to frs@cpa.texas.gov. The financial reporting analysts will work with the appropriation control officers to complete the review early. Feel free to include your agency’s assigned appropriation control officer on the email request.

Due Dates for Financial Reporting

July 1, 2024, is the initial certification for fiscal 2024. The SEFA analysts will certify on the behalf of any agency that misses this deadline. Email sefa.texas@cpa.texas.gov with any additional questions or requests.

Yes. The initial certification is an agency acknowledgement that they will enter interagency federal pass-through activity, which allows agencies to have additional time to enter federal activity in the SEFA web application.

Yes.

Reporting Requirements Website

No. This concept is not correct. The SPTR web application must be certified by the agency, even if no activity exists for the current fiscal year.