[CAFR-Contacts-News] No Backdating Balanced Transfers after June 30!

[ROSS Kathryn * SCD SARS]

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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