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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

Required Year-End Review and/or Reconciliation of Financial Data and Balances in USAS

Since the Financial Reporting section extracts agencies’ data from USAS for ACFR purposes, each agency is required to ensure and certify that its financial data correctly reflects its agency’s financial position as of Aug. 31, 20CY, as recorded in USAS and the agency’s accounting system. For an agency’s data in USAS to be in compliance with the Comptroller’s reconciliation requirements, agencies must ensure the following elements are correct.

For Balance Sheet/Statement of Net Position:

  • If your agency is the controlling agency for any appropriated fund, your agency must report the USAS balance found on the Cash Control Summary Inquiry (57) screen as its cash in state treasury (CIST) amount.

    USAS GL accounts that should net to the balance on the 57 screen:

    • 0045 – CIST
    • 0047 – Shared Cash
    • 0048 – Legislative Cash (only used for appropriated fund 0001)

    If your agency is not the controlling agency, CIST is not reported for that appropriated fund.

  • System clearing GL 9999 and basis conversion system clearing GL 9992 accounts must equal zero at the D23 fund level.
  • Reconcile and adjust all balance sheet line items in USAS to match at the GL account level. Some GL account numbers in USAS consist of one GL account; however, other GL accounts may be grouped together. For example, voucher payable (GL 1009) and accounts payable (GL 1010) in USAS are added together to determine the amount of accounts payable reported in the AFR.
  • Allocate fund balances/net position to the respective GL accounts.
  • Assets must equal liabilities for D23 funds that roll-up to fund type 09 (GAAP agency funds).

For Operating Statement/Change of Fund Balance/Net Position:

  • Reconcile and adjust all operating statement line items in USAS to match at 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 level at both the FFS and government-wide financial statement. For example, a single COBJ that looks up licenses, fees and permits may be used for all COBJs that are described as licenses, fees and permits. Refer to Appendices C, D, E and F for COBJ roll-ups.
  • Operating statement activity for D23 funds that roll-up to fund type 09 (GAAP agency funds) must net to zero at the GAAP source/object level in USAS.

Between Balance Sheet and Operating Statement:

  • Report the USAS legislative appropriation asset balance (GL 9000) in the balance sheet.
  • Report the USAS legislative appropriation revenue balances on the operating statement as follows:
    • GAAP source/objects 0005 and 0006 for the governmental operating statement
    • GAAP source/objects 1210 and 1212 for the proprietary operating statement
  • The USAS balances must match the amounts certified by your agency in the GR Reconciliation web application.
  • Ending fund balance/net position must match between the operating statement and the balance sheet. Agencies should not use generic T-codes to change total fund balance/net position on the balance sheet without flowing through the operating statement because this results in the ending fund balance/net position not agreeing between the two statements. This does not apply to using generic T-codes to allocate fund balance/net position since the allocation does not change total ending fund balance/net position.
  • Interfund/interagency activity (pass-throughs, due from/due to and transfers) must be coordinated between agencies and correct amounts must be entered in USAS by Sept. 26.
  • Interfund/interagency activity must have the correct Agency General Ledger (AGL) information. The AGL field is an eight-digit field:
    • The first three digits relate to the agency number of the opposing side of the transaction.
    • The next four digits relate to the D23 fund number of the opposing side of the transaction.
    • The last digit is a zero.