Reporting Requirements for Annual Financial Reports of State Agencies and Universities
Agency Funds
Common USAS Entries for Suspense Funds
Reclassify Revenues and Expenses in Suspense Funds
Reclassify revenues and expenses at the GAAP source/object level for GAAP suspense funds. It is inappropriate to report suspense funds with operating statement activity.
To determine which funds have revenue and expense activity for the fiscal year, order and review the DAFR8580 report. If you need further assistance in identifying the proper COBJs to use, contact your financial reporting analyst.
Reclassify all operating statement activity at the GAAP source/object level using the following generic T-codes:
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | COBJ** | PCA | Amount | R | Appn No | Fund | Input GL* |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Reverse Deposit to Suspense | |||||||||||||
| (1) | 5 | U | 0832CY | XXX | 630 | XX | 3790 | 99999 | $ XX.XX | N/A | XXXX | 9999 | |
| To Reclassify Revenue | |||||||||||||
| (2) | 5 | U | 0832CY | XXX | 631 | XX | 3XXX | 99999 | $ XX.XX | N/A | XXXX | 9999 | |
| To Reverse Payment from Suspense | |||||||||||||
| (3) | 5 | U | 0832CY | XXX | 633 | XX | 7902 | 99999 | $ XX.XX | N/A | XXXX | 9999 | |
| To Reclassify Expenditure | |||||||||||||
| (4) | 5 | U | 0832CY | XXX | 632 | XX | 7XXX | 99999 | $ XX.XX | N/A | XXXX | 9999 | |
| * Analyze the 28A screen to determine which T-code to input, depending on which generic revenue or expense GL needs to be debited or credited. ** Agencies can use Appendix C or review DAFR8590 to identify the COBJ to use. |
|||||||||||||
Accounting effect of above entries:
| Debit | Credit | ||
|---|---|---|---|
| (1) | To Reverse Deposit to Suspense | ||
| 5100 GAAP Revenue Offset | $ XX.XX | ||
| 9999 System Clearing | $ XX.XX | ||
| (2) | To Reclassify Revenue | ||
| 9999 System Clearing | $ XX.XX | ||
| 5100 GAAP Revenue Offset | $ XX.XX | ||
| (3) | To Reverse Payment from Suspense | ||
| 9999 System Clearing | $ XX.XX | ||
| 5600 GAAP Expenditure Offset | $ XX.XX | ||
| (4) | To Reclassify Expenditure | ||
| 5600 GAAP Expenditure Offset | $ XX.XX | ||
| 9999 System Clearing | $ XX.XX |
Reversing T-codes 658 and 659 may also be used. System clearing must not have a balance after all transactions are entered.
Reclassify Balance Sheet Activity in Suspense Funds
At fiscal year-end, reclassify Funds Held for Others GL 1149 to an applicable general ledger account, such as:
- 1046-Unearned Revenue
- 1018-Payroll Deduction/Return Liability
- 1153-Return Expenditure Liability.
For example, since the activity produced by USPS automatically reverses in the current fiscal year, reclassify to GL 1018 with the reversing generic T-codes 646/647.
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC* | AY | PCA | Amount | R | Appn No | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Reverse Suspense Fund Balance that is a Credit | ||||||||||||
| (1) | 5 | U | 0832CY | XXX | 646 | XX | 99999 | $ XX.XX | N/A | XXXX | XXXX | |
| To Reverse Suspense Fund Balance that is a Debit | ||||||||||||
| (2) | 5 | U | 0832CY | XXX | 647 | XX | 99999 | $ XX.XX | N/A | XXXX | XXXX | |
| * Both T-codes 646 & 647 reverse in the following fiscal year. | ||||||||||||
Accounting effect of above entries:
| Debit | Credit | ||
|---|---|---|---|
| (1) | To Reverse Suspense Fund Balance that is a Credit | ||
| XXXX Input GL | $ XX.XX | ||
| 9999 System Clearing | $ XX.XX | ||
| (2) | To Reverse Suspense Fund Balance that is a Debit | ||
| 9999 System Clearing | $ XX.XX | ||
| XXXX Input GL | $ XX.XX |
Agencies must consider in which column of their AFR the revenue should be reported. Agencies can either:
- Leave the reclassified revenue in the suspense fund. This is only done if the cash will be (or has been) moved to this suspense fund in the following fiscal year.
–OR– - Move the revenue to the fund into which the cash is moved during the following fiscal year. If the agency decides to move the revenue, it should consider if a due from/due to between the suspense fund and the fund into which the cash is moved during the following fiscal year is necessary. If it is necessary, use reversing generic T-codes. For more information, see Due From/Due To Within Same Agency.
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | PCA | Amount | R | COBJ | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Remove the Revenue from the Suspense Fund | ||||||||||||
| (1) | 5 | U | 0832CY | XXX | 658 | XX | 99999 | $ XX.XX | R | XXXX | XXXX* | 9999 |
| To Report the Due To in the Suspense Fund | ||||||||||||
| (2) | 5 | U | 0832CY | XXX | 663 | XX | 99999 | $ XX.XX | XXXX | XXXX* | 1053 | |
| To Report the Revenue in the Fund Into Which the Cash Will be Moved During the Following Fiscal Year | ||||||||||||
| (3) | 5 | U | 0832CY | XXX | 658 | XX | 99999 | $ XX.XX | XXXX | XXXX | 9999 | |
| To Report the Due From in the Fund Into Which the Cash Will be Moved During the Following Fiscal Year | ||||||||||||
| (4) | 5 | U | 0832CY | XXX | 662 | XX | 99999 | $ XX.XX | XXXX | XXXX | 0283 | |
| * Use a fund number that points to GAAP fund 0900. T-codes 658, 662 and 663 reverse in the following fiscal year. | ||||||||||||
Accounting effect of above entries:
| Debit | Credit | ||
|---|---|---|---|
| (1) | To Remove the Revenue from the Suspense Fund | ||
| 5100 GAAP Revenue Offset | $ XX.XX | ||
| 9999 System Clearing | $ XX.XX | ||
| (2) | To Report the Due To in the Suspense Fund | ||
| 9999 System Clearing | $ XX.XX | ||
| 1053 Due To Other Funds | $ XX.XX | ||
| (3) | To Report the Revenue in the Fund Into Which the Cash Will be Moved During the Following Fiscal Year | ||
| 9999 System Clearing | $ XX.XX | ||
| 5100 GAAP Revenue Offset | $ XX.XX | ||
| (4) | To Report the Due From in the Fund Into Which the Cash Will be Moved During the Following Fiscal Year | ||
| 0283 Due From Other Funds | $ XX.XX | ||
| 9999 System Clearing | $ XX.XX |
WARNING: System clearing must not have a balance after all transactions are entered.
Eliminating USAS Activity in GAAP Fund 1000 for the Non-Controlling Agency — Reported by Agency 902
Agencies cannot report CIST for the sweep account in FT01 because agency 902 reports the amounts in FT01. Agency 902 establishes a D23 fund that points to GAAP fund 1000 (appropriated fund 0001, FT01). If an agency does not use appropriation number 99906 when depositing cash, the fiscal year-end sweep does not eliminate this cash. For any cash balance in this fund, the agency must coordinate with agency 902 in order to agree upon the amount of cash to be eliminated and the appropriate revenue COBJ to be used by agency 902. The agency must reverse its cash and funds held for others balance to zero and agency 902 reports this activity in its FT01 with the appropriate revenue object code.
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | PCA | Amount | R | COBJ | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Agency’s Entry: To Record Decrease in Shared Cash in FT01 (offset to balance in GL 0045) |
||||||||||||
| (1) | 5 | U | 0832CY | XXX | 647 | XX | 99999 | $ XX.XX | N/A | XXXX | 0047 | |
| To Record Decrease in Funds Held for Others in FT01 | ||||||||||||
| (2) | 5 | U | 0832CY | XXX | 646 | XX | 99999 | $ XX.XX | N/A | XXXX | 1149 | |
Agency 902 will do the following entries:
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | PCA | Amount | R | COBJ | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Record Increase in Shared Cash in FT01 | ||||||||||||
| (3) | 5 | U | 0832CY | 902 | 646 | XX | 99999 | $ XX.XX | N/A | XXXX | 0047 | |
| To Record GAAP Revenue | ||||||||||||
| (4) | 5 | U | 0832CY | 902 | 658 | XX | 99999 | $ XX.XX | XXXX | XXXX | 9999 | |
Accounting effect of above entries:
| Debit | Credit | ||
|---|---|---|---|
| (1) | To Record Decrease in Shared Cash in FT01 (offset to balance in GL 0045) | ||
| 9999 System Clearing | $ XX.XX | ||
| 0047 Shared Cash | $ XX.XX | ||
| (2) | To Record Decrease in Funds Held for Others in FT01 | ||
| 1149 Funds Held for Others | $ XX.XX | ||
| 9999 System Clearing | $ XX.XX | ||
| Agency 902 | |||
| (3) | To Record Increase in Shared Cash in FT01 | ||
| 0047 Shared Cash | $ XX.XX | ||
| 9999 System Clearing | $ XX.XX | ||
| (4) | To Record GAAP Revenue | ||
| 9999 System Clearing | $ XX.XX | ||
| 5100 GAAP Revenue Offset | $ XX.XX | ||
Eliminating USAS Activity in GAAP Fund 0882 for the Non-Controlling Agency — Reported by Agency 902
Agencies cannot report CIST for the sweep account in FT05 because agency 902 reports the amounts in FT01. Agencies that have D23 fund 0882 that points to GAAP fund 0001, FT01, should follow instructions in the previous section. Agency 902 establishes a D23 fund that points to GAAP fund 0882 (appropriated fund 0882, FT01). If an agency does not use appropriation number 99907 when depositing cash, the fiscal year-end sweep does not eliminate this cash. For any cash balance in this fund, the agency must coordinate with agency 902 in order to agree upon the amount of cash to be eliminated and the appropriate revenue COBJ to be used by agency 902. The agency must reverse its cash and funds held for others balance to zero and agency 902 reports this activity in its FT01 with the appropriate revenue object code.
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | PCA | Amount | R | COBJ | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Agency’s Entry: To Record Decrease in Shared Cash in FT05 (offset to balance in GL 0045) |
||||||||||||
| (1) | 5 | U | 0832CY | XXX | 647 | XX | 99999 | $ XX.XX | N/A | XXXX | 0047 | |
| To Record Decrease in Funds Held for Others in FT05 | ||||||||||||
| (2) | 5 | U | 0832CY | XXX | 646 | XX | 99999 | $ XX.XX | N/A | XXXX | 1149 | |
Agency 902 will do the following entries:
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | PCA | Amount | R | COBJ | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Record Increase in Shared Cash in FT01 | ||||||||||||
| (3) | 5 | U | 0832CY | 902 | 646 | XX | 99999 | $ XX.XX | N/A | XXXX | 0047 | |
| To Record GAAP Revenue | ||||||||||||
| (4) | 5 | U | 0832CY | 902 | 658 | XX | 99999 | $ XX.XX | XXXX | XXXX | 9999 | |
Accounting effect of above entries:
| Debit | Credit | ||
|---|---|---|---|
| (1) | To Record Decrease in Shared Cash in FT05 (offset to balance in GL 0045) | ||
| 9999 System Clearing | $ XX.XX | ||
| 0047 Shared Cash | $ XX.XX | ||
| (2) | To Record Decrease in Funds Held for Others in FT05 | ||
| 1149 Funds Held for Others | $ XX.XX | ||
| 9999 System Clearing | $ XX.XX | ||
| Agency 902 | |||
| (3) | To Record Increase in Shared Cash in FT01 | ||
| 0047 Shared Cash | $ XX.XX | ||
| 9999 System Clearing | $ XX.XX | ||
| (4) | To Record GAAP Revenue | ||
| 9999 System Clearing | $ XX.XX | ||
| 5100 GAAP Revenue Offset | $ XX.XX | ||