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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

Global Certification

Reconcile USAS and Interagency Activity

Each agency is required to post and reconcile annual financial data between USAS and its accounting system by:

  • Oct. 1, 20CY — GR consolidated agencies
  • Nov. 20, 20CY — Full reporting agencies

Reconcile financial data at the general ledger (GL) account level and/or GAAP source/object level within the USAS D23 fund.

Information from the agency’s accounting system and its AFR must be reconciled to USAS. Agencies must make adjustments for any outstanding reconciling items on:

  • USAS balance sheet/statement of net position

    –AND–

  • USAS operating statement/statement of changes in fund balance/net position

    –AND–

  • Interfund/interagency activity report

    Note: All agencies must enter USAS interfund/interagency transactions error free by close of business (COB) on Sept. 26. If Sept. 26 falls on a weekend, all transactions must be entered by COB on the prior Friday or they will not be processed until Monday.

For more information regarding the required levels, see Required Year-End Review and/or Reconciliation of Financial Data and Balances in USAS.

Each agency must complete the USAS Certification form through the ACFR Note and Reporting Certification (CNRC) web application. A hard copy of this form will not be accepted in lieu of the agency’s required submission through CNRC.