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Glenn Hegar  ·  Texas Comptroller of Public Accounts

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*
*The allowable GL accounts for the T-code can be found on the 28B screen.
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

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
*Use COBJs 3811/7713 for short-term investments.
Use COBJs 3812/7714 for long-term investments.
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

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.

Investment Transactions in GAAP Agency Fund Types (FT09)

Assets in GAAP agency fund types (FT09) do not belong to the reporting agency and therefore, there are no revenues.

Report investments purchased or held in a GAAP agency fund type (FT09) as an asset at fiscal year-end using the following T-code:

Seq No Batch Type Doc Type Eff Date Fin Agy TC AY PCA COBJ Amount R Appn No Fund Input GL*
* The allowable GL accounts for the T-code can be found on the 28B screen. use the applicable investment GL account.
** USAS automatically reverses T-code 109 with T-code 110 using the current system management date
.
To Record Investments Purchased In A GAAP Agency Fund
(1) 5 U 0832CY XXX 109** XX XXXXX N/A $ XX.XX   XXXXX XXXX XXXX

Accounting effect of above entry:

Debit Credit
(1) To Record Investments Purchased in a GAAP Agency Fund    
  XXXX Input GL (Specific Investment GL Account) $ XX.XX  
  1149 Funds Held for Others   $ XX.XX

Securities Held in the State’s Treasury

Non-cash securities are sometimes placed in the state’s Treasury for collateral. Record them as an asset in a GAAP agency fund type (FT09) fund. Use the following T-code to record these securities.

Seq No Batch Type Doc Type Eff Date Fin Agy TC AY PCA COBJ Amount R Appn No Fund Input GL
* Although this GL is discussed here in relation to investments, it is profiled in USAS to roll to other assets, rather than investments, on the balance sheet and should not be reported in Note 3.
** USAS automatically reverses T-code 109 with T-code 110 using the current system management date.
To Record Securities Held in the State’s Treasury
(1) 5 U 0832CY XXX 109** XX XXXXX N/A $ XX.XX   XXXXX XXXX 0390*

Accounting effect of above entry:

Debit Credit
(1) To Record Securities Held in the State’s Treasury    
  0390 Securities Held In Trust $ XX.XX  
  1149 Funds Held for Others   $ XX.XX
Glenn Hegar
Texas Comptroller of Public Accounts
Questions? Contact statewide.accounting@cpa.texas.gov
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