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Reporting Requirements for Annual Financial Reports of State Agencies and Universities

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Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Agency Funds

Suspense Funds (FT09)

Basis of Accounting

Suspense funds are not reported in a fiduciary fund type, as established by GASB 84. All suspense fund activity must be reported in a governmental or proprietary fund type at fiscal year-end. Revenues and expenditures must be accrued as applicable.

Categories of Common Statewide Suspense Funds

Use the following categories to determine the proper reporting of suspense funds:

Category I

Category I is included in the agency’s AFR for cash that is controlled at the D23 fund level. Cash balances can be obtained on the General Ledger Summary Inquiry (56) screen and the Agency/Fund Summary Inquiry (58) screen.

Fund 0900 (the departmental suspense fund) serves as a clearing account to distribute financial resources to other funds of the agency. Reclassify the amounts out of fund 0900 and record in the appropriate fund type. See Reclassifying Material Cash Balances That Remain in Suspense Fund FT09 at Fiscal Year-End.

Generally, fund 0807 only has CIST and funds held for others. Reclassify the amounts from fund 0807 and record in the appropriate fund type. See Reclassifying Material Cash Balances That Remain in Suspense Fund FT09 at Fiscal Year-End.

Funds 0942 and 0980 only have accounts receivable and funds held for others, which offset each other and are eliminated.

If the agency’s only assets are “accounts receivable” and the only liabilities are “funds held for others,” and the two amounts offset each other, eliminate the accounts in USAS and do not report the funds in the agency’s AFR. For more information, see Eliminating Accounts Receivable and Funds Held for Others in a Suspense Fund. Report CIST (GL 0045) and all other GL accounts for these funds.

Category I includes:

Appropriated Fund Number GAAP Fund Fund Name
0807 0807 Child Support Employ Deduct – Offset Account
0900 0900 Departmental Suspense
0942 0942 TexaSaver Hold – Transmit 401k
0980 0980 Direct Deposit Correction Account

Category II

Agency 902, as the controlling agency, reports the CIST (GL 0045) for funds in the second category. Therefore, any CIST balances on the non-controlling agency’s books are eliminated at fiscal year-end along with the corresponding balances in funds held for others.

If the agency has any additional accrual entries, the agency needs to coordinate this activity with agency 902. Agencies do not report any activity for these funds. Agency 902 reports accrued balances for these funds as accounts receivable or accounts payable and revenue or expense Agency 902 must reclassify the activity reported in FT09 at year-end in a governmental fund type.

Category II includes:

Appropriated Fund Number GAAP Fund Controlling Agency
0001 1000 902
0882 0882 902

Appropriated Fund 0001

For appropriated fund 0001, receipts collected on behalf of the state (agency 902), it is important that the D23 fund (where the receipts reside) infers GAAP fund 1000 – appropriated fund 0001 (FT09). The appropriation number must be 99906. Collections in this coding block are electronically swept from the collecting agency to agency 902. Agency 902 recognizes revenue in its AFR.

When the money is swept, the balances are eliminated for the non-controlling agency in USAS and allows agency 902 (the controlling agency for appropriated fund 0001) to report the cash and revenue. If the cash is not posted to appropriation 99906, the cash will not be swept and the agency must coordinate with agency 902 and process appropriate USAS entries to properly report the cash and revenue balances. For more information, see Eliminating USAS Activity in GAAP Fund 1000 for the Non-Controlling Agency — Reported by Agency 902.

Appropriated Fund 0882

For appropriated fund 0882, it is important for the GAAP fund to be coded as 0882 – appropriation number 99907 (FT09). Collections in this coding block are also electronically swept to agency 902.

Sweep Schedule

  • 99906 – Unappropriated Receipts – General Revenue
    Quarterly sweeps (with the balances from June through July swept in the first week of August) with a final sweep occurring Aug. 31.
  • 99907 – Local Sales Tax
    Monthly sweeps.
  • 70000 – Earned Federal Funds
    September through July balances swept in the first week of August with a final sweep occurring Aug. 31.

When the money is swept, the balances are eliminated for the non-controlling agency in USAS and allows agency 902 (the controlling agency for appropriated fund 0882) to report the cash and revenue. If the cash is not posted to appropriation 99907, the cash will not be swept and the agency must coordinate with agency 902 and process appropriate USAS entries to properly report the cash and revenue balances. For more information, see Eliminating USAS Activity in GAAP Fund 0882 for the Non-Controlling Agency — Reported by Agency 902.

Category III

Category III is controlled and reported exclusively by the Comptroller’s Treasury Operations Division. No activity for these funds is reported by the individual agencies at fiscal year-end. Eliminate all balances, including CIST and payables/receivables.

Category III includes:

Appropriated Fund Number GAAP Fund Fund Name
0899 0899 Direct Deposit Bills – Hold Acct
0979 0979 Direct Deposit Hold – Transmit Acct – Payrolls
9010 9010 Direct Deposit Hold – Supplemental Payrolls
9011 9011 Direct Deposit Hold – Non-IRS Deductions
9012 9012 Direct Deposit Hold – IRS Deductions

Any suspense fund not mentioned above must be reclassified to either FT01 or FT05 at fiscal year-end, as applicable.

All Other Suspense Funds

All other funds under agency control and not specifically mentioned above are also identified by GAAP fund name and number in a separate column.

The state’s treasury provides banking or trust services for many agencies. However, in most cases the agency reports the assets held. Exercise of control and administration decisions on these assets are the primary considerations for delegating reporting responsibility. Reporting of these assets by the state must be assured and reported in another fund type that is not FT09 at fiscal year-end.