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Reporting Requirements for Annual Financial Reports of State Agencies and Universities

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Reporting Requirements for Annual Financial Reports of State Agencies and Universities

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Agency Fiscal Year-End USAS Adjustments and AFR Checklist
Step 10 – Analyze USAS Reports

Analyze USAS reports to determine necessary AFR entries, calculate revenue accruals and adjust USAS as necessary.

  1. Enter accrued revenues, accounts receivable and all local fund revenues including accruals. For more information, see Receivables/Accrued Revenues.
  2. Enter net change in consumable inventory balances. For more information, see Inventories. Review balances using FMQuery–SIRS AFR Desk Review and running the DR112 — Review Fund Balance for Consumable and Merchandise Inventories (formerly CR103) report located in the Balance Sheet drop-down menu.
  3. Enter net change in prepaid items. For more information, see Prepaid Items. Review balances using FMQuery–SIRS AFR Desk Review and running DR113 — Review Fund Balance for Prepaid Items (formerly CR105) report located in the Balance Sheet drop-down menu.
  4. Enter any other adjustments to the operating statement.
  5. Allocate fund balance/net position if appropriate. For more information, see Allocation of Fund Balance or Net Position.
  6. Enter any other necessary adjustments to balance sheet accounts.