Transcript Reverting Funds, FNAT Maintenance and AO Pending Sherry Pickering, Chancellor’s Office Year End Training 2006-07 Sherry Pickering, Chancellor's Office.

Reverting Funds, FNAT Maintenance
and
AO
Pending
Sherry Pickering, Chancellor’s Office
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
2
Clearing balances of reverting funds
 Required Action may include the following:
 Budget entries to reflect SCO reversion of
Remaining Spending Authority
 Accounting entries to clear “Accruals” (Assets
& Liabilities)
 Change Orders/Cancellations to clear
Encumbrances (PO’s) and Pre-Encumbrances
(Req’s)
 Fund ChartField Inactivation Effective on
Reversion Date + 1
 Trees trimming to eliminate inactive
ChartFields Effective on Reversion Date + 1
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
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Entries to Clear “Accruals”…
 The Peoplesoft Year-End Close Ledgers Process
populates Period 0 of the next Fiscal Year with
the balance of all Balance Sheet Account Types,
even for Inactive Funds
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
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Entries to Clear “Accruals”…
In the following Fiscal Year, the SCO
will not include “Accruals” for
reverted Funds in the SAM99 Accrual
Reversal Tape, even if they were
reported by the campus in the
previous Fiscal Year’s SAM99 Year
End Tape to SCO
The amount of PY “Accruals” will
appear on campus SAM99 in State
GL 6807
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
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Entries to Clear “Accruals”…
To clear old “Accruals” from a
reverting trial balance:
Reverse the balance in the “Accrual”
account and offset to 690002
If the “Accrual” balance is a result of a
subsystem entry, correct or clear the
subsystem entry.
This method can also be used to move
“Accruals” across trial balances
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
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Other Reverting Fund Tasks…
 Change Orders/Cancellations to clear
Encumb (PO’s) and Pre-Encumb (Req’s)
 Ver. 8.4 SAM99 Encumb’s are similar to
“Accruals”, the same issues would apply in
next FY
 Fund ChartField Inactivation Effective on
Reversion Date + 1
 Helps to prevent future transactions in Fund
 Trees “trimming” to eliminate inactive
ChartFields Effective on Rev Date + 1
 Can help system performance
 Carefully consider effect on campus reporting
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
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Year End Training 2006-07
Sherry Pickering, Chancellor's Office
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FNAT Key Maintenance Summary
New FNAT
Beginning of
new year?
Enterprise Revenue Funds
P
General Fund Non-Appropriated Refunds to
Reverted Appropriations (SCO Revenue
Account 0500000)
P
New Fund
Beginning of
new year?
General Fund Non-Appropriated
Miscellaneous Revenue (SCO Revenue
Account 0161400)
Year-End
"Accruals"
Okay?
RMP
P
Maybe
P
General Fund Non-Appropriated Escheat
Unclaimed Checks (SCO Revenue Account
0161000)
SCO
Payroll
Warrants
P
General Fund Non-Appropriated Uncleared
Collections (SCO Revenue Account 0000000;
Year of Enactment 1944)
General Fund Revolving Fund Advance
(Category 97)
P
P
General Fund Pre Pay Other Funds
(Category 98)
P
P
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
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SAM99 Reconciling Requirements
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
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Enterprise Revenue Fund FNAT keys
 Because transactions in R Accounts are CrossPosted to the D Accounts, the SCO does not RollForward the June 30th Ending Balance from one
Fiscal Year to the next in the same Appropriation
Year R Accounts, instead…
 After July 1st, the SCO automatically creates new
Accounts for the Current Fiscal Year for SCO
Revenue Accounts: 0299100 Other-Intrastate; and
0250300 Income from SMIF
 The SAM99 Report combines R Accounts all Years
on the monthly SCO File into one Q Report without
respect to Appropriation Year
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
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Enterprise Revenue Fund FNAT keys
 The SAM99 year end “Tape” production
process ignores Enterprise Funds
 The SCO receives year end financial
information regarding Enterprise Funds
compiled from information submitted by
campuses through the FIRMS process
 So, Why do I need to change the FNAT
Key?
 If the FNAT Keys are not updated, the SAM99
will duplicate the “Tape” information on the Q
report creating an out of balance condition
 Updating the FNAT Keys will correct the
duplication
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
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Enterprise Revenue Fund FNAT keys
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
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Enterprise Revenue Fund FNAT keys
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
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Enterprise Revenue Fund FNAT keys
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
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Non-Approp FNAT Key maintenance
 GF Non-Appropriated Escheat
SCO Account 1610
 Due to RMP - No Longer Used
 GF Non-Appropriated Miscellaneous Revenue
SCO Account 1614
 GF Non-Appropriated Refunds to Reverted
SCO Account 5000
 GF Non-Appropriated Uncleared Collections
SCO Account 0000
 GF Revolving Fund Advance
SCO Category 97
 GF Prepay Other Funds
SCO Category 98
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
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General Fund Non-Appropriated Escheat Unclaimed Checks (SCO Revenue Account
0161000)
 This account is for outstanding Treasury checks,
including pay warrants issued by the SCO on the
CSU’s behalf, that have not cleared within 1 year
of issuance. The campus will cancel checks and
the net result of the cancelled check (cash) will be
transferred to this Escheat Fund and then
remitted to the SCO. Should the cancelled check
need to be re-issued, a claim is processed
against this Fund to re-issue the cash
 Under RMP, going forward balances in this
account will represent stale payroll warrants
issued by the SCO
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
17
General Fund Non-Appropriated Miscellaneous Revenue (SCO Revenue Account
0161400)
 Miscellaneous Revenue includes any revenue
received for activity prior to the existence of SCO
Fund 0498 (prior to 1985), cash overages, and
interest from fee installment plan. These monies
are remitted to the State Controller
 Under RMP, this fund should no longer be used.
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
18
General Fund Non-Appropriated 0161000 and 0161400 Continued
 The SCO maintains two accounts for this activity,
one current year and one prior year. At the end of
any fiscal year the SCO does not roll the balance
of either of these accounts forward
 For any new fiscal year, the SCO will combine
prior years’ reported campus “Accrual” balances
into the one SCO Prior Year account (including
those related to the previous fiscal year’s Current
Year Fund), the Year of Appropriation on SCO
Accrual Reversal Tape will be one year back from
current FY
 For SAM99 reconciliation purposes, this creates
an out of balance condition (State GL 6807) after
the SCO’s Accrual Reversal tape is loaded since
all prior years’ accrual balances are presented
together with one SCO Prior Years’ account
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
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General Fund Non-Appropriated 6807 Error Sample
While the SAM99 may
not have warnings
with this condition, a
balance on the 6807
line means that there
is an error in the
report.
Find it and fix it.
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
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General Fund Non-Appropriated 0161000 & 0161400
 Suggested Best Business Practices…
 Since the SCO closes out both CY & PY
accounts as of July 1st of any new fiscal year,
the campus activity should be recorded as
Revenue or Expense (i.e. NO ACCRUALS) such
that it will close to fund balance as part of the
Year-End close process.
 As a further control, Funds can be Inactivated
effective January 1 of their second year of use
to prevent Claims activity that would be intransit as of June 30th
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
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General Fund Non-Appropriated Refunds to Reverted Appropriations (SCO Revenue
Account 0500000)
 Refunds to the campus of monies originally
expended from an appropriation that has since
reverted are deposited in this fund. This cash is
remitted to the State Controller. The SCO has one
account for this activity and the fiscal year is oneyear back of the current year
 Under RMP, this account should no longer be
used.
 Since the SCO has one account the campus can
operate with one Fund. The FNAT key should be
changed each year to match the SCO’s Year of
Appropriation attribute
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
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General Fund Non-Appropriated Refunds to Reverted Appropriations (SCO Revenue
Account 0500000)
 At the end of any fiscal year the SCO does not roll
the balance of this account forward
 Suggested Best Business Practice…
 Since the SCO closes out this account as of
July 1st of any new fiscal year, the campus
activity should be recorded as Revenue or
Expense (i.e. NO ACCRUALS) such that it will
close to fund balance as part of the Year-End
close process.
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
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Year End Training 2006-07
Sherry Pickering, Chancellor's Office
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Allocation Orders Pending
Used when Campus Budget reflects
Allocation Orders received but not
posted to SCO Accounts as of Final
Year-End Tab Run
Used in ACTUALS Ledger only
For use with SAM99 Reporting only
Only one side of entry on SAM99
Year End Training 2006-07
Sherry Pickering, Chancellor's Office
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AO Pending Year 1
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Sherry Pickering, Chancellor's Office
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AO Pending Year 2
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Sherry Pickering, Chancellor's Office
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