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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

USAS

Self-Directed and Semi-Independent Agencies
Fund Establishment

There are four categories of local funds:

  • Operating (D22 fund 9999) — funds held outside the state treasury and used to make general expenditures for the daily operations of state government
  • Custodial (D22 fund 9995) — funds held outside the state treasury containing assets belonging to individuals and other entities held temporarily in a custodial capacity
  • Bond (D22 fund 9994) — funds held outside the state treasury created by bond resolution requirements that specify the maintenance of separate funds to account for the bond program
  • Trust (D22 fund 9993) — funds held outside the state treasury in a trustee capacity for individuals, private organizations or other governmental entities

Agencies must establish a separate D23 fund profiled to the D22 local operating fund located with the state treasury for each D22 fund (such as, operating, custodial, bond and/or trust) and GAAP fund type. Agencies must also establish a separate D23 fund profiled to appropriated fund 9993, 9994, 9995 or 9999 as determined by the agency for each D22 fund (such as, operating, custodial, bond and/or trust) and GAAP fund type.

The D23 fund must point to the same D24 GAAP fund for both:

  • The local operating fund located with the state treasury

    –AND–

  • The local appropriated fund 999X located in the Safekeeping Trust

The remaining GL balances in the old D23 fund must be transferred to the corresponding new D23 fund. Use non-reversing T-codes 644/645 to transfer GL balances and transfer T-codes 654/655 with COBJs 7991/3991 to complete the transfer transactions.

The D24 fund number is the same as the D22 local operating fund number (such as 08XX or 10XX) if these funds are reported in the same column in the agency’s AFR. However, if the D24 fund is reported in a separate column, the D24 fund will be different than the D22 local operating fund.

For example, if the D23 fund is a discrete component unit, the GAAP fund number is not the same as the D22 local operating fund number because a discrete component unit has a unique D24 fund number assigned to it and is reported in a separate column in the agency’s AFR. Otherwise, the D23 fund will infer a D24 fund number that is the same as the D22 local operating fund number 08XX or 10XX.

For more information on D23 profile setups, GAAP funds, GAAP fund types or how to prepare transfer entries, contact your financial reporting analyst.