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Preparing for Fiscal Year End Processing 2014

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1 Preparing for Fiscal Year End Processing 2014
Kathy Pelletier MUNIS Implementation Consultant Tyler Technologies - MUNIS Division k (

2 Important Information/Documents for Fiscal Year End Processing
Unaudited AFR due to KDE by July 25th KDE Document: Fiscal Year End Processing (BGL-2) This document is subject to change. It is recommended that you check often on KDE’s website to make sure you have the most recent document KDE Newsletters: The newsletters contain information about changes to Year End, Chart of Accounts, AFR submission, etc. AFR & Year End FAQ’s: KDE’s website On Behalf Payment Info: On behalf entries must be made on the unaudited AFR. Info can be found on KDE’s website.

3 Chart of Accounts Changes effective FY 2014
Funds 410 – Delete (no longer valid; must use 400) 6X – Change name to “Fiduciary Fund – Agency Funds” 7X – Change name to “Fiduciary Fund – Pension, Investment, and Private-Purpose Trust Funds” Functions 2420 – Change the name to “School Based Decision Making” 5200 – Change the name to “Fund Transfers Out” Objects 0633 – Delete (Per SCN, group sales are not allowed) 0639 – Delete (Per SCN, “other” is not allowed) 0738 – Delete (instruction descriptor should be identified through function, not object) 0925 Bond Discounts – Add

4 Chart of Accounts Changes effective FY 2014 (Cont’d)
Revenues 1627 – Delete (Per SCN, use 1624 instead) 1628 – Delete (Per SCN, this program no longer exists) 1632 – Delete (Per SCN, employee purchases are not allowed) 1634 – Delete (Per SCN, use 1614 instead) 17XX – Change the name to “District Activity Funds” 1720 – Change the name to “Bookstore Sales” to correspond to descriptions Change the name to “Federal Reimbursements In Lieu of Taxes”

5 Prior to Year End Closing
Create journal numbers for the new fiscal year If you use the Accounts Receivable and/or General Billings module, add charge codes for the new year

6 Review Projects in Fund 2
Run Project Budget Report for Active/Inactive/Closed. Before projects can be set to closed, make sure revenue and expenditures must net to zero Make journal entries to clean up projects

7 Check Balance Sheet Balance
The balance on the balance sheet should equal the total on the Project Budget Report Compare Year-to-Date Total on Project Budget Report (if Project to Date) has a different total



10 Review Purchase Orders
Run Purchase Orders by GL Account Review purchase orders and cancel PO’s you do not need (you should do this now and several times throughout year end) Identify outdated purchase orders by going into Purchase Order Change Orders In Fiscal Yr/Period, enter <2014 and in Status field, select each status except zero Use “Close PO” button to close these


12 Review & Reconcile Balance Sheets
Review your balance sheets for each fund

13 Review Balance Sheet Do any of your balance sheets show “Unassigned Fund Balance? Does Fund 51 show a balance in Restricted or Unrestricted Net Assets? Do you show Deferred Revenue or Accounts Receivable for Fund 2? Does Fund 2 balance reconcile with PBR?

14 Review Balance Sheet (cont’d)
Are your Accounts Payable and other Payable balances correct for all funds? Do Purchase Obligations match your outstanding purchase orders for each fund?

15 Enter Current Fiscal Year Invoices on Hand
If you have invoices that will not be paid until July but are for purchases made for FY 2014, these need to be entered in period 12 FY 2014 Cash Disbursements will be run for 2015 period 1 (DO NOT RUN CASH DISBURSEMENTS FOR 2014 PERIOD 12)

16 Run GL Tables Validation
Run FULL GL Tables Validation This should be done monthly throughout the year If you have errors, review the error document on the MUNIS website If you have questions concerning how to correct the error, contact Tyler/MUNIS

17 Run Utilities No user in system Make sure you have a good backup
Review reports generated

18 G/L Memo Balance This utility compares the memo balance value to the sum of all activity on the account including transactions yet to be posted. It will compare and correct last year, current year, and next year totals. To run utility: From menu, select Admin, Diagnostic Tools, G/L Memo Balance

19 GL Encumbrance Utility
This utility identifies Purchase Orders with invalid or incorrect amounts and recalculates the correct encumbrance balance on each general ledger account To run utility: Select Admin, Diangnostic Tools, GL Encumbrance

20 Utilities for Requisitions
GL Requisition Amount – this utility recalculates and corrects the requisition balance on general ledger accounts (This is also accessed under Diagnostic Tools)

21 Open Periods Close and reconcile open periods by running month end processing for periods 1 through 11

22 Check Fund Transfers Insure that Transfer Ins equal Transfer Outs

23 July 1 Set default Year and Period Update “Set Holding Year Open Flag”
Update “Set Holding Year Open Flag”

24 After July 1

25 After July 1 Review open purchase orders
Enter remaining invoices for 2014 Remember post invoices to and run cash disbursements for Review open invoices Run Invoice History by GL Account

26 After July 1 Review unposted journals General journals
Budget amendments Current year requisitions Current year purchase orders Invoices Misc cash and general billing Payroll processing and vendor payrolls Cash disbursements

27 After July 1 Close and reconcile open periods (1 thru 12)
Run Full Tables Validation – resolve any errors Prove encumbrances/Run utilities


29 Year End Processing (Live)
Halt all system processing lockmunis in Cloud Admin Perform Year End Backup Year End Backup is in Cloud Admin Produce end of year reports Project Budget Report Payroll Deduction Register Month End Trial Balance

30 Year End Processing Close current fiscal year – what happens?
Outstanding encumbrances for open purchase orders are liquidated Unassigned Fund Balance(8770) is reserved for the amount of outstanding purchase orders Expenditure Control and Revenue Control are moved to Unassigned Fund Balance Review YEC Journals

31 Year End Processing Produce Year End Trail Balance – (P)reclosing
Open new fiscal year Produce Year End Trail Balance – (F)inal Produce Budget Completion Journal Verify budget preparation year Run Budget Completion Journal – Selective account inclusion must be checked on fund 2 projection and must only include 2015 projects

32 Year End Processing Perform a Year End Backup Resume MUNIS processing

33 Posting Last Year Adjustments
Enter Accounts Receivable and additional Accounts Payable Enter other GASB entries (committed, restricted, assigned, etc) Enter Accounts Receivable and Deferred Revenue for Fund 2 Run Project Budget Report A|I|C Report Options Field 12 with Totals, no page break

34 Fund 2 Deferred Revenue & Accounts Receivable
If a grant has $10,000 in revenues but only $8000 in expenditures, a deferred revenue entry will be made Debit grant revenue account for $2,000 Credit deferred revenue ( ) for $2,000 If a grant has $15,000 in revenues and $18,000 in expenditures and the district is due to receive $3,000 more, an accounts receivable entry is made Debit accounts receivable ( ) for $3,000 Credit grant revenue account for $3,000 FUND 2 BALANCES MUST BE ZERO!!

35 Posting Last Year Adjustments (Cont’d)
Reserve fund balance for site based carry forward: Debit Unassigned Fund Balance (8770) Credit Committed-Site Base Carry Forward(8752) Fund 310 and 320 – To restrict balances for even numbered years, 8770 will be moved to Restricted- Other(8737)

36 Posting Last Year Adjustments (Cont’d)
Fund 360 – if there is a balance in 8770, move to Restricted-Future Construction(8735) Fund 51 – move 8770 to Restricted-Net Assets (5X-8739) or Unrestricted Net Assets (5X-8712) Post Last Year Adjustments

37 Produce AFR Annual Financial Report (AFR) must be created and sent to KDE through web application Create AFR Including Account Detail and not Including Account Detail 4 files (2 balance sheet files, 2 AFR files)

38 Submitting AFR KDE has edit checks when your submit. Some items may prevent it from being submitted: Carefully review fund transfers to insure that transfer ins match transfer outs Make sure you have made the on-behalf entries (including Technology On-behalf Review any document or correspondence that KDE has sent to insure you do not miss something

39 New Year Processing Reverse Fund 2 Deferred Revenue and Accounts Receivable entries – Reverse Accounts Receivable and Accounts Payable entries

40 Move Fund Balances to Beginning Balance
Fund 1 – 8770 and 8752 must be moved to beginning balance ( U) Fund 2 – no entry should be made since Fund 2 is zero Fund 360 – No entry will be made Fund 51 – move from or to beginning balance ( R or U)

41 New Year Processing (Cont’d)
Adjust budget for beginning balance Budget Site Based Carry Forward for new year

42 After Audit All audit adjustments will be posted to 2014 period 13
Once all audit adjustments are made, AFR is created again and sent to KDE through the web application (including detail and not including detail) – November 2014 Auditor & Finance Officer should make sure AFR matches audit


44 (859) Kathy Pelletier

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