Reporting Requirements for Annual Financial Reports of State Agencies and Universities
AFR Cash in State Treasury
It is important that an accurate cash position be presented for the state. The following criteria applies to cash in state treasury (CIST):
- The controlling agency for the fund must report the Aug. 31 USAS balance in its AFR. The controlling agency is the report route agency listed on the USAS Appropriated Fund Profile (D22) screen. The balance to be presented on the controlling agency’s report is the Aug. 31 USAS balance on the Cash Control Summary Inquiry (57) screen rather than general ledger account 0045 on the General Ledger Summary Inquiry (56) screen. General ledger account 0045 under the controlling agency does not reflect cash activity of non-controlling agencies. The 57 screen does not require the entry of an agency number in order to view the fund cash balances.
- Non-controlling agencies must not report CIST even if the agency collects money on behalf of the controlling agency. Whether or not the non-controlling agency can spend the funds it collects is not relevant to the reporting of the fund in its entirety. Committed versus collected budget is not a financial reporting issue.
- The non-controlling agencies’ cash balance
reported must net to zero and equal the total of the balances in:
- GL 0045 – Cash in State Treasury
- GL 0047 – Shared Cash
- GL 0048 – Legislative Cash
(GL 0048 is only used in appropriated fund 0001 and a non-FT09 fund.)
- Incorrectly reported balances are considered in noncompliance with the reporting requirements.
- The controlling agency reconciles the USAS Cash Control Summary Inquiry (57) screen to the total in USAS GL accounts 0045, 0047 and 0048 on a monthly basis. The balances must be reconciled by fiscal year-end.
- Agencies must identify and coordinate potential shared cash entries between the controlling agency and non-controlling agency, as needed.
Agencies with an existing CIST balance in appropriated fund 0369 (Federal American Recovery and Reinvestment Act Fund) are exempt from the above criteria and are therefore responsible for reporting their own CIST balance.