Reporting Requirements for Annual Financial Reports of State Agencies and Universities
Timing of Increases / Decreases to Cash
- For an agency that does not use USAS as its internal accounting system of record for reporting purposes, there may be timing differences between the amounts for Cash in State Treasury (CIST) reported in the internal accounting system versus the amount reported in USAS. The amounts attributable to timing differences are reported as either receivables or payables on the agency’s AFR.
- Reductions to cash are recognized according to the warrant date posted to USAS. If an agency submitted a voucher for payment, but the warrant has not posted to USAS, that disbursement is reported as a payable.
- Increases to cash are recognized according to the effective date of the deposit into the state’s Treasury. Use either cash on hand or accounts receivable to report cash deposits that were not recorded as a deposit in USAS.
- The controlling agency is required to reconcile its USAS CIST to its internal accounting system monthly. The DAFR8660 Fund Cash History by Agency Including Shared Funds report provides information on USAS cash transactions to agencies that control the appropriated fund. To reconcile the USAS CIST balance with the internal accounting system cash balance:
- Begin with the DAFR8660 ending balance
- Add deposits in transit
- Subtract vouchers in transit
Attention: These procedures do not affect the recognition of revenues and expenditures. These continue to be recognized at the time goods or services are received or given.