Reporting Requirements for Annual Financial Reports of State Agencies and Universities
Interfund Activity
Subsidies and Transfers
Fiscal Year-End Adjustment for Proprietary Capital Transfers
For financial reporting purposes and to comply with GASB 103 requirements, agencies with proprietary fund activity may need to enter an AFR adjusting journal entry using T codes 654 and 655. This entry identifies and reclassifies the portion of capital transfers included in the total transfer amount recorded during the fiscal year.
Transfers Out
Reclassify Transfers Out (GSO 1355) to Capital Transfers Out (GSO 1357) using T code combination 654R and 654.
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC* | AY | PCA | COBJ | Amount | R | AGL | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Record a Decrease to Transfers Out (GSO 1355) | |||||||||||||
| (1) | 5 | U | 0832CY | XXX | 654 | XX | 99999 | 7972 | $ XX.XX | R | AGYAAAA0 | BBBB | 9999 |
| To Record an Increase to Capital Transfers Out (GSO 1357) | |||||||||||||
| (2) | 5 | U | 0832CY | XXX | 654 | XX | 99999 | 7990 | $ XX.XX | AGYBBBB0 | AAAA | 9999 | |
| **T-code 628 must be used for local fund activity. | |||||||||||||
Transfers In
Reclassify Transfers In (GSO 1350) to Capital Transfers In (GSO 1356) using T code combination 655R and 655.
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC* | AY | PCA | COBJ | Amount | R | AGL | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Record a Decrease to Transfers In (GSO 1350) | |||||||||||||
| (1) | 5 | U | 0832CY | XXX | 655 | XX | 99999 | 3972 | $ XX.XX | R | AGYAAAA0 | BBBB | 9999 |
| To Record an Increase to Capital Transfers In (GSO 1356) | |||||||||||||
| (2) | 5 | U | 0832CY | XXX | 655 | XX | 99999 | 3990 | $ XX.XX | AGYBBBB0 | AAAA | 9999 | |
| **T-code 629 must be used for local fund activity. | |||||||||||||