Reporting Requirements for Annual Financial Reports of State Agencies and Universities

General Revenue Reconciliation

Instructions for the GR Reconciliation Web Application
Step 3 – Enter USAS Transactions

Enter USAS budget and accrual transactions to change amounts populated by USAS. Statewide GR query reports are transmitted to agencies in mid-September. These reports contain the detail of USAS data to back up the values on the screens.

For a successful GR reconciliation, agencies must ensure they comply with the following Fiscal Policies and Procedures (FPPs):

• Sources of Revenue Required to Pay Benefit Cost (APS 001) (FPP A.021)
• Reimbursements for Unemployment Compensation Payments (APS 003) (FPP A.035)
• Benefits Proportional by Method of Finance (APS 011) (FPP A.010)
• Encumbrance Reporting and Lapsing of Appropriations (APS 018) (FPP A.019)
• Salary Benefit Appropriation Allocations (APS 019) (FPP A.042)
• Earned Federal Funds and Indirect Cost Reimbursements to the General Revenue Fund (APS 023) (FPP A.017)
• General Revenue Reimbursement for Statewide Allocated Costs (FPP A.022)

All entries related to the FPPs above must be made in USAS before the reconciliation process can be completed. Also ensure all supplemental payrolls are processed before completing the reconciliation. As of Oct. 31, agencies are no longer able to backdate any budget T-codes into the prior fiscal year. If you must make an adjustment after the deadline, contact your financial reporting analyst. USAS updates the GR Reconciliation web application nightly; therefore, a USAS transaction is not reflected in the GR Reconciliation web application until the day after the transaction is entered.

Benefits Proportional: Report benefits proportional entries made in accordance with Benefits Proportional by Method of Finance (APS 011) (FPP A.010) on the AFR as they are entered in USAS. This is an issue, particularly for universities, when the AFR is prepared before proportionality entries may be calculated. All agencies and universities must demonstrate proportionality and make any entries necessary to the respective appropriation year (AY) in USAS on or before Nov. 20. The decision to backdate those entries to the prior fiscal year (FY) is optional, depending on what is reflected on the AFR. As long as the treatment is the same between USAS and the AFR, the accounting period to which the entries are posted is at the agency’s discretion.