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Glenn Hegar  ·  Texas Comptroller of Public Accounts

Reporting Requirements for Annual Financial Reports of State Agencies and Universities

USAS

USAS Entries
User Changes on the D23 Profile

Changes to the APPROPRIATED FUND, GAAP FUND and GAAP FUND TYPE fields on the D23 profile are limited to central user classes only to eliminate unnecessary and USAS complications that are difficult to correct, such as:

  • Incorrect data elements posting to the financial tables
  • Incorrect balances posting to the financial tables
  • The creation of improper fund balance/net position general ledger account balances

Changing the Appropriated Fund field

The APPROPRIATED FUND field cannot, under any circumstances, be changed if balances have already posted to the D23 fund — even if the balances posted are in a prior fiscal year.

If an agency determines that a D23 fund is mapped to an incorrect appropriated fund, the agency must:

  1. Establish a new D23 fund mapped to the correct appropriated fund
  2. Transfer balances from the old D23 fund to the new D23 fund
  3. Inactivate the old D23 fund

For further assistance, contact your appropriation control officer.

Changing the GAAP Fund and GAAP Fund Type fields

GAAP fund and GAAP fund type are looked up at the time of report generation and do not post to the financial tables. However, USAS uses the GAAP fund type to determine the fund balance/net position general ledger (GL) account and updates the account balances in the GL financial table during certain USAS processes. For more information, see USAS Updates Fund Balance/Net Position GLs.

If you determine that a GAAP FUND or GAAP FUND TYPE change is necessary to the D23 profile, contact your financial reporting analyst. Your analyst evaluates the fund, processes the D23 profile change (if appropriate) and follows up with additional instructions.

Changing the GAAP FUND and GAAP FUND TYPE fields on the D23 profile is acceptable — but additional entries may be necessary when the GAAP fund type:

In some cases, a change to a different fund type does not require additional corrective entries. For example, corrections to the fund balance GL accounts are not required when the GAAP FUND TYPE field is changed from 02 to 03 because both fund types close to GL fund balance account 2310 (fund balance–restricted).

However, if the GAAP FUND TYPE field is changed from 01 to 02, USAS entries are required to correct the fund balance GL account balances because each fund type closes to a different fund balance GL account.

Note: The fund balance/net position GL account associated with each fund type can be found on the USAS GAAP Fund Type Profile (D21) screen, FFS FUND BALANCE GL field. For more information, see the D21 GAAP Fund Type Profile in the USAS Coding Instructions (FPP Q.010).

Use generic T-codes when correcting fund balance/net position GL account balances.

Note: Accounts must be analyzed and supporting documentation must be retained. For more information on the appropriate generic T-codes, see How GL Accounts Close for Specific GAAP Fund Groups.

Restatements

USAS restatement transactions are not required when a GAAP fund or GAAP fund type is changed during a fiscal year. USAS uses the values in the D23 profile GAAP FUND and GAAP FUND TYPE fields that exist at the time of report generation and reports the fund balance in the current GAAP fund and GAAP fund type. During the fiscal year-end closing process, USAS automatically closes the total net activity of the operating statement to the appropriate net position or fund balance general ledger (GL) account. For more information, see Fiscal Year-End Close.

However, restatements are required in the agency’s AFR to maintain continuity between the prior fiscal year and current fiscal year AFRs — even if the fund type change did not require USAS entries to correct balances in fund balance/net position GL accounts:

  1. Report the previous fund type’s ending balance from the prior year’s AFR as the previous fund type’s beginning balance in the current year’s AFR.
  2. Report a restatement to eliminate (zero out) the beginning balance in the previous fund type’s financial statements.
  3. Report a restatement to present the beginning balance in the new fund type’s financial statements.

Example of necessary restatements:

  • As requested by the agency, the financial reporting analyst changes the GAAP fund type on one of the agency’s D23 profiles from 01 to 02
    • Generic USAS transactions are required in order to move the beginning fund balance from GL account 2325 (fund balance–unassigned) to GL 2310 (fund balance–restricted)
    • A restatement is required on the agency’s AFR to remove the beginning balance from the FT01 financial statements and bring in the beginning balance on the FT02 financial statements
  • As requested by the agency, the financial reporting analyst changes the GAAP fund type on one of the agency’s D23 profiles from 02 to 03
    • Generic USAS transactions are not required because both fund types close to GL fund balance account 2310 (fund balance–restricted)
    • A restatement is required on the agency’s AFR to remove the beginning fund balance from the FT02 financial statements and bring in the beginning fund balance on the FT03 financial statements

For further assistance, contact your financial reporting analyst.

USAS Updates Fund Balance/Net Position GLs

Fiscal Year-End Close

During the Aug. 31 fiscal year-end close, USAS closes the nominal (operating statement) account balances to the fund balance/net position general ledger (GL) account and posts the balances in the new fiscal year to create the beginning fund balances.

  1. Based on the D23 fund used on the original nominal transaction, USAS references the GAAP FUND TYPE on the D23 profile.

    Note: USAS uses the D23 profile that exists during fiscal year-end close — it does not take into account how the D23 profile was mapped when the nominal transactions were originally posted.

  2. USAS refers to the GAAP Fund Type (D21) profile to determine the applicable fund balance/net position GL account (FFS FUND BALANCE GL or BASIS CONV FD BAL GL).
  3. USAS updates the GL financial table with the applicable fund balance/net position GL account.

For example, a D23 fund profile was mapped to GAAP FT01 for numerous prior fiscal years. On August 30 of the current fiscal year, the agency requested a D23 profile change to map the fund to GAAP FT02. Therefore, USAS posts the nominal activity for the current fiscal year to fund balance GL account 2310 (the fund balance GL account for FT02).

However, since the D23 fund profile was mapped to GAAP FT01 for prior fiscal years (and during the fiscal year-end close process for those fiscal years), the nominal activity for those fiscal years posted to fund balance GL account 2325. Therefore, there are now balances in two different fund balance GL accounts. USAS transactions are necessary to move the prior years’ fund balance amounts to the current fund balance GL account.

Backdated Transactions

When nominal transactions are backdated to the prior fiscal year, the corresponding fund balance/net position GL account is simultaneously updated on the general ledger financial table in both the prior and current fiscal years. The process used is similar to that used during fiscal year-end close.

  1. Based on the D23 fund used on the backdated nominal transaction, USAS references the GAAP FUND TYPE on the D23 profile.
  2. USAS refers to the GAAP Fund Type (D21) profile to determine the applicable fund balance/net position GL account (FFS FUND BALANCE GL or BASIS CONV FD BAL GL).
  3. USAS updates the general ledger financial table with the applicable fund balance/net position GL account.

Example of D23 change for backdated transactions after fiscal year-end close:

  • After Aug. 31, the agency requested a GAAP fund type change on a D23 profile. It then processes numerous backdated nominal transactions for its AFR.
  • The change in GAAP fund type results in balances of two different fund balance/net position GL accounts:
    • Those created during year-end close
    • Those created for the backdated nominal transactions
  • There are also two different fund balance/net position GLs if the agency changes the GAAP fund type before completing all backdated entries. USAS transactions are necessary in order to move the fund balance/net position amounts to the correct fund balance/net position general ledger account.

General Ledger Close

The general ledger (GL) close occurs after the Financial Reporting section completes the CAFR-to-USAS reconciliation and processes all related USAS transactions (generally around May of the following fiscal year). GL close creates transactions that close the ending nominal GL account balances to the appropriate fund balance/net position GL accounts. These transactions are backdated to the fiscal year that is being closed.

  1. Based on the D23 fund used on the original nominal transaction, USAS retrieves the GAAP fund type listed on the D23 profile.

    Note: USAS uses the D23 profile that exists at the time of GL close — it does not take into account how the D23 profile was mapped when the nominal transactions were originally posted.

  2. USAS then uses the GAAP Fund Type (D21) profile to determine the T-code to use for the GL close transactions.

    For more information on the T-code used to close nominal account balances to the fund balance/net position GL accounts, see the D21 GAAP Fund Type Profile in the USAS Coding Instructions (FPP Q.010).

  3. The T-code used for the GL close transactions posts to the applicable fund balance/net position GL account for that GAAP fund type and updates those balances on the GL financial table.

Example of a D23 change after fiscal year-end close but before GL close:

  • The agency processed transactions using a D23 fund that was mapped to GAAP FT01 (fund balance GL 2325) all the way through fiscal year-end close and for the processing of backdated transactions.
  • Prior to GL close, the agency requested a D23 profile change to map the fund to GAAP FT02, resulting in the GL close transactions posting to fund balance GL 2310 (the fund balance GL account applicable to GAAP FT02).
  • USAS transactions are necessary to move the fund balance amounts to the correct fund balance GL account.

For more information on ending fund balance/net position GL accounts used for each fund type, see How GL Accounts Close for Specific GAAP Fund Groups.

Glenn Hegar
Texas Comptroller of Public Accounts
Questions? Contact statewide.accounting@cpa.texas.gov
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