[CAFR-Contacts-News] Backdating Balanced Transfers/Recording Transfer Activity

[ROSS Kathryn * SCD SARS]

Good morning everyone!

 

Some agencies are still backdating their interagency BTs related to FY
2011!  If this includes your agency, please read the email below. Then
reverse the backdated transactions and, instead, record the appropriate
accrual entries (either due to or due from) to reflect FY 2011 activity.

 

Also, we have found that a few agencies have not recorded their side of
interagency transactions.  We ask that these agencies record their side
of the transactions as soon as possible, but no later than Friday,
August 12 (the date of the soft close).  We recommend completing these
entries sooner, rather than later, because errors in coding the
transactions can still occur.  Recording the entries by the soft close,
leaves a week to correct any coding errors.

 

If you have questions regarding interagency transactions and the SW
Balancing reports, please contact your SARS analyst right away.

 

Thank you,

Kathy

 

________________________________

To: cafr-contacts-news at listsmart.osl.state.or.us
Subject: [CAFR-Contacts-News] No Backdating Balanced Transfers after
June 30!
Importance: High

 

Hello CAFR Accountants,

 

This is the final reminder regarding interagency transfers:

 

Agencies must not backdate interagency Balanced Transactions (BTs)
processed after June 30.

 

Because interagency transfers impact cash at Treasury, backdating
current transactions can cause reconciling problems for the receiving
agency and result in audit comments/findings. The effective date for
both sides of this transaction type must equal the current system date
with one exception:

 

An adjustment affecting cash is acceptable in Month 13 if all of the
following conditions are met:

 

*       The adjustment affects D23 funds within the same agency;

 

*       The affected D23 funds are in the same GAAP fund; and

 

*       The affected D23 funds are tied to the same Treasury Fund.

If you are unable to complete your interagency BTs before June 30, you
will need to record accrual entries during Month 13 to accurately
reflect FY2011 activity. 

For more information on T-codes that should not be used during Month 13,
please refer to the Agency Guide to Year-end Closing, Chapter D, Section
D.2 at: http://www.oregon.gov/DAS/SCD/SARS/agency_guide.shtml

Another helpful resource is the SFMS Desk Manual: Central Processing
Cent. 4 at:
http://egov.oregon.gov/DAS/SCD/SFMS/docs/publications/desk_manual/Cent4.
doc

 

Thanks,

Kathy

 

Kathryn Ross

Statewide Accounting & Reporting Manager

Oregon State Controller's Division

155 Cottage Street NE, U-50

Salem, OR 97301

NEW Phone:  (503) 373-0265

Fax:  (503) 378-3514

http://oregon.gov/DAS/SCD/SARS

 

Data Classification: Level 1 - Published

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