Reporting Requirements for Annual Financial Reports of State Agencies and Universities
Notes & Samples
NOTE 3 – Deposits, Investments and Repurchase Agreements
USAS Transaction Entries
During the fiscal year, ensure USAS transactions are recorded as follows:
- Record investments to USAS using the applicable investment GL account that most closely reflects the specific type of investment.
- Designate the investments as either current or non-current. Report investments in USAS when purchased or sold.
- During the year, changes in the fair value of investments must be recorded in USAS within seven working days after the close of each month.
- For fiscal year-end balances, post investments in USAS by Sept. 14, 20CY.
Investment Transactions in Local Funds (Excluding Senate Bill 701, 75th Legislature, Regular Session)
Record investments purchased from local funds not covered by S.B. 701 as an asset at fiscal year-end using the following T-codes:
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | PCA | COBJ | Amount | R | Appn No | Fund | Input GL* |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Record Investments Purchased from Local Funds | |||||||||||||
| (1) | 5 | U | 0832CY | XXX | 646 | XX | XXXXX | N/A | $ XX.XX | N/A | XXXX | XXXX | |
| To Record Income on Investments from Local Funds | |||||||||||||
| (2) | 5 | U | 0832CY | XXX | 658 | XX | XXXXX | 3XXX | $ XX.XX | N/A | XXXX | 9999 | |
| *The allowable GL accounts for the T-code can be found on the 28B screen. | |||||||||||||
Accounting effect of above entries:
| Debit | Credit | ||
|---|---|---|---|
| (1) | To Record Investments Purchased from Local Funds | ||
| XXXX Input GL (Specific Investment GL Account) | $ XX.XX | ||
| 9999 System Clearing | $ XX.XX | ||
| (2) | To Record Income on Investments from Local Funds | ||
| 9999 System Clearing | $ XX.XX | ||
| 5100 GAAP Revenue Offset | $ XX.XX |
Warning: System clearing must not have a balance after all transactions are entered.
Investment Transactions in Funds Covered by Senate Bill 701, (75th Legislature, Regular Session)
Agencies with funds covered by SB 701 must have signed a Memorandum of Understanding providing details on the entries to be made in USAS.
Amounts posted in USAS throughout the fiscal year using T-codes 642 and 643 must be eliminated at fiscal year-end to zero out the cumulative effect of the revenue and expenditure COBJs. Use the following T-codes:
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | PCA | COBJ* | Amount | R | Appn No | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Eliminate Cumulative Revenue COBJs on Sales of Investments | |||||||||||||
| (1) | 5 | U | 0832CY | XXX | 630 | XX | XXXXX | 3811/ 3812 |
$ XX.XX | N/A | XXXX | 9999 | |
| To Eliminate Cumulative Expenditure COBJs from Purchases of Investments | |||||||||||||
| (2) | 5 | U | 0832CY | XXX | 633 | XX | XXXXX | 7713/ 7714 |
$ XX.XX | N/A | XXXX | 9999 | |
| *Use COBJs 3811/7713 for short-term investments. Use COBJs 3812/7714 for long-term investments. |
|||||||||||||
Accounting effect of above entries:
| Debit | Credit | ||
|---|---|---|---|
| (1) | To Eliminate Cumulative Revenues | ||
| 5100 GAAP Revenue Offset | $ XX.XX | ||
| 9999 System Clearing | $ XX.XX | ||
| (2) | To Eliminate Cumulative Expenditures | ||
| 9999 System Clearing | $ XX.XX | ||
| 5600 GAAP Expenditure Offset | $ XX.XX |
Warning: System clearing must not have a balance after all transactions are entered.