Reporting Requirements for Annual Financial Reports of State Agencies and Universities
Agency Fiscal Year-End USAS Adjustments and AFR Checklist
Step 1 – General Cleanup
Ensure that cash cleanup, profile review, interfund/interagency activity cleanup and other procedures are performed by Aug. 31.
- Complete profile review and cleanup. For more information, see the USAS Profile Review and Cleanup Procedures (FPP A.031).
- Determine if the correct COBJs for state and federal pass-throughs were used.
- Eliminate system clearing. System clearing GL 9999 and basis conversion GL 9992 must equal zero at the D23 fund level. Review balances using FMQuery–SIRS AFR Desk Review and running the DR115 — Review System Clearing (formerly CR118) report located in the Balance Sheet drop-down menu.
- Clear default funds.
- Clear IT file (transactions in error) before Aug. 31, 20CY, as well as those payments that post to cash in state treasury (CIST). For more information, see the USAS Profile Review and Cleanup Procedures (FPP A.031).
- Clean up all interfund/interagency activity (pass-throughs, transfers and due from/due to).
- Correct any balances in funds where the appropriated fund was incorrectly changed during the year.
- Verify beginning 20CY GAAP balances tie in USAS to the beginning balances in the LTLN web application for long-term liabilities, the CANSS web application for capital assets and the SOCF web application for cash. Compare prior year ending fund and net position balances to the DAFR8581 report.
- Reconcile and adjust all operating statement line items in USAS to match at the GAAP source/object level. The Comptroller Object Profile (D10) screen displays the GAAP source/object level the COBJ rolls into. The GAAP Source/Object Profile (D08) screen provides a description of the GAAP source/object level. When adjusting operating statement activity with generic T-codes, it is acceptable to use a COBJ that rolls up to the correct GAAP source/object at both the fund financial statement (FFS) and government-wide financial statement (GWFS) level. For example, a single COBJ that looks up licenses, fees and permits may be used for all COBJs described as licenses, fees and permits. Refer to Appendix C, Appendix D, Appendix E and Appendix F for COBJ roll-ups.