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Glenn Hegar  ·  Texas Comptroller of Public Accounts

Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Agency Funds

Common USAS Entries for Agency Funds

Eliminating Revenues and Expenses in GAAP FT09

Eliminate revenues and expenses at the GAAP source/object level for GAAP agency funds (FT09). According to GAAP, it is inappropriate to report GAAP agency fund types (FT09) with net operating statement activity. Often the wrong T-code is used during the deposit of cash. This requires cleanup of USAS since the operating statement impact is not reported in the AFR.

To determine which funds have revenue and expense activity for the fiscal year, the DAFR8605 may be ordered and reviewed. If you need further assistance in identifying the proper COBJs to use, please contact your financial reporting analyst.

Eliminate 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*
* 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 the DR 506, CR-122 or PCU 139 query to identify the COBJ to use.
*** Input the most appropriate GL account. This is usually Funds Held for Others (GL 1149).
To Reverse Operating Statement Activity
(1) 5 U 0832CY XXX 630 to 633 XX XXXX 99999 $ XX.XX   N/A XXXX XXXX
To Correct the Balance Sheet
(2) 5 U 0832CY XXX 644 to 645 XX N/A 99999 $ XX.XX   N/A XXXX XXXX ***

The accounting effect of the above entries depends on the T-codes and COBJs selected. System clearing must not have a balance after all transactions are entered. The T-codes needed from the above selection depend on the type of correction being made.

Accrue Assets and Funds Held for Others Balances

To establish accruals, use T-code 109, which automatically reverses with T-code 110 using the current system management date. Due from/due to T-codes and descriptions can be found in Balance Sheet for Interfund Activity.

Seq No Batch Type Doc Type Eff Date Fin Agy TC AY PCA COBJ Amount R Appn No Fund Input GL*
* The allowable GL accounts for this T-code can be found on the 28B screen.
** USAS automatically reverses T-code 109 with T-code 110 in the following fiscal year.
To Record an Asset in a GAAP Agency Fund
(1) 5 U 0832CY XXX 109** XX XXXXX N/A $ XX.XX   XXXXX XXXX XXXX

Accounting effect of above entries:

Debit Credit
(1) To Record an Asset in a GAAP Agency Fund    
  XXXX Input GL $ XX.XX  
  1149 Funds Held For Others   $ XX.XX

Eliminating Accounts Receivable and Funds Held for Others in an Agency Fund – Category I

Eliminate the balance sheet activity if a fund falls into Category I and the only assets are accounts receivable and the only liabilities are funds held for others. It is possible the balance sheet activity must be eliminated with the use of reversing generic T-codes. For example, since the activity produced by USPS automatically reverses in the current fiscal year, use of the reversing generic T-codes 646/647 is the most appropriate.

Seq No Batch Type Doc Type Eff Date Fin Agy TC** AY PCA Amount R Appn No Fund Input GL*
* Use GL 0231 to eliminate the accounts receivable balance and GL 1149 to eliminate the funds held for others balance.
** Both T-codes 646 & 647 reverse in the following fiscal year.
To Reverse Agency Fund Balance that is a Credit
(1) 5 U 0832CY XXX 646 XX 99999 $ XX.XX   N/A XXXX XXXX
To Reverse Agency Fund Balance that is a Debit
(2) 5 U 0832CY XXX 647 XX 99999 $ XX.XX   N/A XXXX XXXX

Accounting effect of above entries:

Debit Credit
(1) To Reverse Agency Fund Balance that is a Credit    
  XXXX Input GL $ XX.XX  
  9999 System Clearing   $ XX.XX
(2) To Reverse Agency Fund Balance that is a Debit    
  9999 System Clearing $ XX.XX  
  XXXX Input GL   $ XX.XX

Reclassifying Material Cash Balances That Remain in Suspense Fund FT09 at Fiscal Year-End — Category I

In USAS, GAAP fund 0900 in agency fund type 09 is usually the suspense fund. This suspense fund FT09 is used as a clearing account to distribute financial resources to other funds of the agency as well as to other entities. Per GASB 34, paragraph 111, and GASB 34 Implementation Guide, question 225, the suspense fund FT09 has a “pooled” asset account for the financial resources that belong to other funds of the agency. As such, the material assets (cash) in the suspense fund FT09 that belong to other funds of the agency are reported as assets in the appropriate fund type. Assets that belong to other agencies, or to other outside entities, remain in the fund and are reported at fiscal year-end.

Any cash balance remaining in the suspense fund FT09 at current fiscal year-end must be moved during the following fiscal year because USAS has a hard cash close. This means movement of cash from one fund to another cannot be backdated to the prior fiscal year. In accordance with GASB 34, agencies with material asset balances in suspense fund FT09 representing resources of other funds are required to report those material balances in the most appropriate fund type (usually FT01). To comply with this requirement, agencies must:

  1. Establish a USAS D23 fund that points to GAAP/appropriated fund 0900 (FT01) or whatever fund type is appropriate (suspense fund that is not FT09).
  2. Enter transactions (1) and (2) using reversing generic T-codes to suspense fund FT09. This negates the CIST and funds held for others.
  3. Enter transactions (3) and (4) using reversing generic T-codes to suspense fund FT01 (or most appropriate fund type). This reports shared cash and the most appropriate revenue COBJ in the suspense fund that is not FT09.
Seq No Batch Type Doc Type Eff Date Fin Agy TC AY PCA Amount R COBJ Fund Input GL
* Use a fund number that points to GAAP fund 0900 except in FT09. T-codes 646, 647 and 658 reverse in the following fiscal year.
To Record Decrease in Shared Cash in FT09
(1) 5 U 0832CY XXX 647 XX 99999 $ XX.XX   N/A 0900 0047
To Record Decrease in Funds Held for Others in FT09
(2) 5 U 0832CY XXX 646 XX 99999 $ XX.XX   N/A 0900 1149
To Report the Increase in Shared Cash in FT01 (or most appropriate fund type)
(3) 5 U 0832CY XXX 646 XX 99999 $ XX.XX   N/A XXXX* 0047
To Report the GAAP Revenue Offset
(4) 5 U 0832CY XXX 658 XX 99999 $ XX.XX   XXXX XXXX* 9999

Accounting effect of above entries:

Debit Credit
(1) To Record Decrease in Shared Cash in FT09    
  9999 System Clearing $ XX.XX  
  0047 Shared Cash   $ XX.XX
(2) To Record Decrease in Funds Held for Others in FT09    
  1149 Funds Held for Others $ XX.XX  
  9999 System Clearing   $ XX.XX
(3) To Report Increase in Shared Cash in FT01 (or most appropriate fund type)    
  0047 Shared Cash $ XX.XX  
  9999 System Clearing   $ XX.XX
(4) To Report GAAP Revenue Offset    
  9999 System Clearing $ XX.XX  
  5100 GAAP Revenue Offset   $ XX.XX

WARNING: System clearing must not have a balance after all transactions have been entered.

Once the material balance of assets is in the appropriate suspense fund that is not FT09, agencies must consider in which column of their AFR the revenue is reported. Agencies can either:

  1. Leave the revenue in the suspense fund that is not FT09. This is only done if the cash will be (or has been) moved to this suspense fund in the following fiscal year.
    –OR–
  2. 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 must record a due from/due to between the suspense fund that is not FT09 and the fund into which the cash is moved during the following fiscal year using reversing generic T-codes.
Seq No Batch Type Doc Type Eff Date Fin Agy TC AY PCA Amount R COBJ Fund Input GL
* Use a fund number that points to GAAP fund 0900 except in FT09. T-codes 658, 662 and 663 reverse in the following fiscal year.
To Remove the Revenue from the Suspense Fund that is not FT09
(1) 5 U 0832CY XXX 658 XX 99999 $ XX.XX R XXXX XXXX* 9999
To Report the Due To in the Suspense Fund that is not FT09
(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

Accounting effect of above entries:

Debit Credit
(1) To Remove the Revenue from the Suspense Fund that is not FT09    
  5100 GAAP Revenue Offset $ XX.XX  
  9999 System Clearing   $ XX.XX
(2) To Report the Due To in the Suspense Fund that is not FT09    
  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 FT09 because agency 902 reports the amounts in FT01 (see Categories of Common Statewide Agency Fund; Category II). 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 FT09 (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 FT09
(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:

Agency’s Entry Debit Credit
(1) To Record Decrease in Shared Cash in FT09 (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 FT09    
  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

As with GAAP fund 1000, agencies cannot report CIST for the sweep account in FT09 because agency 902 reports the amounts in FT01 (see Categories of Common Statewide Agency Fund; Category II). 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 FT09 (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 FT09
(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:

Agency’s Entry Debit Credit
(1) To Record Decrease in Shared Cash in FT09 (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 FT09    
  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
Glenn Hegar
Texas Comptroller of Public Accounts
Questions? Contact statewide.accounting@cpa.texas.gov
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