USAS User’s Manual –
Chapter 15 – Month-End Closing/Reconciliation
Reconciling the Monthly Appropriation Budget
| Step | Action |
|---|---|
| 1 | Order reconciliation reports. To reconcile the appropriation cash available and the remaining cash basis budget, an agency can request the DAFR7550 Appropriation Summary report. This report provides cumulative balances by appropriation year, appropriation, and appropriated fund. The USAS balances should be compared to the agency’s internal balances. If the amounts agree, no further analysis is necessary. Note: To request a report, refer to the Reporting chapter in the USAS User’s Manual. |
| 2 | Complete a reconciliation form with the balance information from both systems. See Illustrations 1 and 2 below for sample reconciliations and forms. ILLUSTRATION 1 (SAMPLE)
Agency Name
Reconciliation of Comptroller Appropriation Cash Available
Month Ending Dec. 31, 1995
Appropriation Year XX
Appropriation NNNNN
Appropriated Fund NNNN
** *
Appr Cash Reserve Appr
Beg. Budget Trans Cash Cash for Cash
Bal Adj In/Out Rev Exp. Payroll Avail.
Per DAFR7550
Compt’s Bal $xxx,xxx
Per Agency’s
Records aaa,aaa bb,bbb ddd,ddd eee,eee $xxx,xxx
Preparer: Approval
* See Appropriation Cash Available algorithm in the Financial Inquiry chapter of the USAS User’s Manual. ** These are committed appropriation budget adjustments only: appropriation original budget, appropriation revisions, appropriation transfers out, appropriation transfers in, appropriation re-appropriations out, appropriation re-appropriation in, appropriation committed lapse. This calculation does not include any collected revenue budget adjustments. ILLUSTRATION 2 (SAMPLE)
Agency Name
Reconciliation of Comptroller Remaining Cash Basis Budget
Month Ending Dec. 31, 1995
Appropriation Year XX
Appropriation NNNNN
Appropriated Fund NNNN
Remaining*
Appn Reserve Cash
Beginning Budget Cash for Basis
Balance Adjustments Expenditures Payroll Budget
Per DAFR7550
Compt’s Bal.
$zzz,zzz.zz
Per Agency’s
Records aaa,aaa.aa xx,xxx.xx yyy,yyy.yy $zzz,zzz.zz
Preparer: Approval
* See Remaining Cash Basis Budget algorithm in the Financial Inquiry chapter of the USAS User’s Manual.
|
| 3 |
Complete a reconciliation form with the reconciling items. See Illustrations 3 and 4 for more information. If the balances of the appropriation cash available and the remaining cash basis budget do not reconcile with the agency’s internal balances, compare USAS activity reports to agency activity reports to identify discrepancies (DAFR7460 or DAFR7500 Appropriation Activity Detail Reports). This comparison will identify discrepancies at a transaction or document level between the two accounting systems. ILLUSTRATION 3 (SAMPLE)
Agency Name
Reconciliation of Comptroller Appropriation Cash Available
Month Ending Dec. 31, 1995
Appropriation Year XX
Appropriation NNNNN
Appropriated Fund NNNN
Appr Cash Reserve Appr.
Beg. Budget Trans Cash Cash for Cash
Bal. Adj. In/Out Rev Exp. Payroll Avail.
Per DAFR7550
Compt’s Bal. $bbb,bbb
Reconciling Items:
A1234567
(not recorded in USAS) 500 500
A1234568
(not recorded in USAS) (1,000) (1,000)
J1234567
(not recorded in USAS) 10,000 10,000
D1234567
(not recorded in USAS) 5,000 5,000
9xxxxxxx
(not recorded in USAS) (1,000) (1,000)
4xxxxxxx
(not recorded by agy) 500,000 500,000
O/S Item totals (500) 10,000 5,000 (1,000) 500,000 513,500
Per Agency’s
Records aaa,aaa cc,ccc dd,ddd eee,eee fff,fff
zzz,zzz
Preparer: Approval
ILLUSTRATION 4 (SAMPLE)
Agency Name
Reconciliation of Comptroller Remaining Cash Basis Budget
Month Ending Dec. 31, 1995
Appropriation Year XX
Appropriation NNNNN
Appropriated Fund NNNN
Remaining*
Appn Cash
Beginning Budget Cash Reserve for Basis
Balance Adjustments Expenditures Payroll Budget
Per DAFR7550
Compt’s Bal. $bbb,bbb.bb
Reconciling Items:
A1234567 (not recorded by USAS) 500.00 500.00
A1234568 (not recorded by USAS) (1,000.00) (1,000.00)
9xxxxxxxx (not recorded by USAS) (10,000.00) (10,000.00)
4xxxxxxxx (not recorded by agy) 500,000.00 500,000.00
O/S Item totals (500.00) (10,000.00) 500,000.00 489,500.00
Per Agency’s
Records aaa,aaa.aa xx,xxx.xx yyy,yyy.yy $zzz,zzz.zz
Preparer: Approval
* See Remaining Cash Basis Budget algorithm in the Financial Inquiry chapter of the USAS User’s Manual.
|
| 4 | Once balances and reconciling items are identified, ensure the USAS balances (plus or minus reconciling items) agree with the balances per the agency’s accounting system. |
| 5 | Post adjustments or reconciling items to the appropriate system (USAS and/or internal system). |
| 6 | Retain the supporting documents and reconciliation forms in a file for audit purposes. |
| 7 | The above process is repeated for each appropriation year, appropriation, and appropriated fund. |