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

[ROSS Kathryn * SCD SARS]

Hello CAFR Accountants,

An early reminder:  Agencies may 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.

Otherwise, agencies must make every effort to record interagency transactions attributable to FY 2012 on or before June 30.

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 FY2012 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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