Transcript Food Services Annual Managers Meeting

Year –End Workshop FY2007
Account Balances/Corrective Action
Financial
Management
Operations
Linda B. Kettler
[email protected]
845-0978
Deficit Account Balances
Subsidiary
ledger accounts can not have a deficit
budget balance available as of August 31, 2007
02xxxx and 03xxxx accounts cannot have a
deficit accrued cash balance or a deficit fund
balance as of August 31, 2007
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Review screen 702 for deficit accrued cash
balance and fund balance
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Corrective
action is required for deficit SL
balances, deficit accrued cash balances and
deficit fund balances
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Financial Management Operations – General Accounting Services
Screen 702
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702 GL 6 Digit Reserve Balance
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Special Reserves
Fund Balance
Reserve for Encumbrances
Accrued Cash Balance
06/12/07
FY 2007 CC 02
Year to Date Balance
Thru June
---------------------0.00
47,438.5864,994.22
112,432.80-
Fund Balance
47,438.58Revenue Budget - Unrealized
132,134.77
Unobligated Remaining Budget
19,701.97
Reserve for Encumbrances
64,994.22
Estimated Uncommitted
Fund Balance
0.00 *
*If negative - corrective action may be necessary
Financial Management Operations – General Accounting Services
Screen 18
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018 GL 6 Digit List
06/19/07,18:48
FY2007 CC02
Screen:18 Account :XXXXXX Fiscal Year:2007
Thru Month:6 June
Department: XXXX Resp Person:LINDA KETTLER Flags: D F N
Account
YTD
Current Month YTD Thru
Control Description
Begin Balance
June
June
---------------------------------------------------- --------------- --------------- --------------1100 Claim on Cash
68913.63
7187.65
51627.811300 ,Accounts Receivable
28.30
30.10
1310 Accounts Rec – Student 11810.69
1477.7716841.11
1397 Allowance for Uncoll S
2696.411603.642100 Accounts Payable
85.0010785.5211078.342130 Over-payments on Accoun
2750 Deferred Revenue
17375.003200 Fund Bal-Designated
60596.215075.64
47438.58
Financial Management Operations – General Accounting Services
Corrective Action Due Dates
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Corrective action for deficit account balances
– Payroll correction
 Submit to Employee Services by 5:00 pm August 6,
2007
– Transfer from the Texas A&M Foundation
 Submit to the Texas A&M Foundation by July 27, 2007
for scholarships to insure the deposit will be posted in
FY07.
 Submit to the Texas A&M Foundation by August 10,
2007 for other transfers, to insure the deposit will be
posted in FY07.
Financial Management Operations – General Accounting Services
Corrective Action Due Dates
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Corrective action for deficit balances
– DBRs
 Submit to FMO by August 27, 2007
– Corrections transferring vouchers or IDT’s to
another account
 Submit to FMO by August 17, 2007
– Cash deposits
 Submit to the Cashiers no later than 12:00
p.m. on August 31, 2007.
Financial Management Operations – General Accounting Services
Support Accounts
Do not freeze, delete or drop a support account with a balance:
054 Support Account Flag Maintenance
Account xxxxx xxxx
This account does not have a BBA of zero
Expense BBA:, 71,665.73Revenue BBA:, 59,225.18
Do you still want to flag this account for Delete (Y/N): N
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Financial Management Operations – General Accounting Services
Beginning Of The Year
Transfers
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SL balances, encumbrances and reserve for encumbrances brought forward
on:
− 1xxxxx except for 160xxx
− 24xxxx – Designated Tuition
− 25xxxx – Continuing Ed
− 289xxx – Enhancement Fees
− 29xxxx – Available University Fund
− 50xxxx-599999 – Restricted
− 65xxxx-69xxxx – Scholarship
− 8xxxxx – Plant Funds
− 94xxxx – Agency Funds
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Only encumbrances and reserve for encumbrances brought forward:
– 2xxxxx
 Except 24xxxx, 25xxxx,289xxx and 29xxxx
– 3xxxxx
Financial Management Operations – General Accounting Services
Amount To Be Transferred
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702 GL 6 Digit Reserve Balance
08/31/07
FY 2007 CC 02
Year to Date Balance
Thru 13th Month
---------------------Special Reserves
0.00
Fund Balance
531,990.21
Reserve for Encumbrances
318,321.00
Accrued Cash Balance
213,669.21
Fund Balance
531,990.21
Revenue Budget - Unrealized
0.00
Unobligated Remaining Budget
0.00
Reserve for Encumbrances
318,321.00
Estimated Uncommitted
Fund Balance
213,669.21
*If negative - corrective action may be necessary
Financial Management Operations – General Accounting Services
Contacts
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Corrections:
– Elizabeth Aldredge
 [email protected] or 845-8809
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DBRs
– Robbin Foster
 [email protected] or 845-8108
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General Account Balance Issues
– Linda Kettler
 [email protected] or 845-0978
Financial Management Operations – General Accounting Services
Questions ???
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Financial Management Operations – General Accounting Services
Thank You !
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Financial Management Operations – General Accounting Services