LNOCA Generic Fiscal Year-end Closing Procedures 2011 USAS
Pre-Closing Procedures 2 The following steps must be completed prior to closing for fiscal year-end.
District/Building Financial Data The District Financial General Information and Building Financial information must be entered through USAEMSDB. This data will be reported under Financial Reporting Period H for FY11.
USAEMSDB - DSTMNT 4 Central Office Square Footage and ITC IRN are found in the USAEMSDB program option 1 - DSTMNT
USAEMSDB - BLDMNT 5 The transportation and lunchroom percentages and correct square footage fields are found on the USAEMSDB program option 2.
USAEMSDB - BLDRPT 6 A report can be generated for the transportation, lunchroom percentages and building square footage under USAEMSDB option 3 - BLDRPT
VALACT 7 VALACT should be run to check for any invalid accounts that may need to be fixed prior to closing. ACTCHG or FNDCHG can be used to correct invalid accounts Warnings on required SUBJ or IL should be reviewed and the account corrected if appropriate Warnings associated with accounts for an invalid account with zero amounts can be ignored These accounts can be deleted once considered deleteable by DELACT
EMIS Fund Categories 8 VALACT Lists errors for invalid fund categories Lists warnings for funds that should have an EMIS category but don’t EMISFCAT report Lists all funds and associated fund category Enter * if no appropriate code exists
Operational Units 10 Check Operational Units Check IRN and Entity Type Use OPUEDT to change; OPULST for report
EMIS_SEL 11 In order to include the correct fiscal year ADM figures on the reports generated from the EFM_LOCAL program you must run EMIS_SEL prior to running EFM_LOCAL MENU>EMIS_SEL Select current fiscal year period H or the appropriate period directed by your ITC
EFM_LOCAL 12 Run EFM_LOCAL to generate EFM reports Select “U” to use USAS data U = USAS data instead of EMIS data
EFM Reports 13 Same format used by ODE Ensure Building Expenditures report (EFMRP1) looks reasonable Use Inclusion/Exclusion reports to verify totals as needed on EFMRP1 Reports are ESTIMATES only at this point ADM will change and affect prorations done See EFM Handbook for specifications Available on ODE website; Search for “EFM Handbook”
Appropriations 14 Next Year estimated budgets and revenues may be entered into the Next Year Proposed fields through APPROP prior to running Fiscal Year-end ADJUST. Note: Alternatively, IABMASS, IABMNT, or IABLOAD (also part of APPROP) may be used after closing the fiscal year
Appropriations NYPINI… NYPINI…clears out anything currently in the next year proposed fields NYPMASS… NYPMASS…allows ranges of accounts to be mass updated based on the calculation method chosen NYPMNT… NYPMNT…enter next year proposed amounts individually NYPLOAD… NYPLOAD…upload next year proposed amounts via a spreadsheet file 15
Accounts Payable Tracking 16 Track Accounts Payable in USASDAT should be set to “Y” APE still uses this however, USASWEB/AP Invoice does not look at this flag Recommend that districts leave set to “Y” year-round Provides ability to track items received this fiscal year but not paid for until after July 1 in the next fiscal year PAYABL report usually run the month of August Be sure to enter accurate received dates when invoicing!!!
18 Follow normal process of closing out for the month After all transactions have been entered, reconcile USAS with the bank BALCHK totals should be in balance Ensures all underlying accounts are in balance with the associated cash account Current encumbered from BALCHK should balance with PODETL Cash Reconciliation from USAEMSEDT should balance with FINSUMM
Month-end Closing 19 FINSUMM needs to balance with FINDET Figures are coming from 2 completely different areas FINSUMM pulls amounts from the account file FINDET pulls amounts from the detailed transaction files If the 2 do not balance, means something did not get completely updated during processing Run SM2 CALC option if tracking SM2 figures Review report for accuracy Optional – also runs automatically as part of ADJUST
Month-end Closing 20 Generate any month-end reports desired Minimum reports recommended are: BUDSUM, APPSUM, and REVSUM Detailed PODETL FINSUMM & FINDET RECLED Detailed CHEKPY Cash Reconciliation (USAEMSEDT) May be generated via MONTHLYCD Generates standard set of monthly reports Can be made available via secure web site Can be archived to CDRom
22 Complete rest of USAEMSEDT options Each option must at least be entered and exited even if there is nothing to enter Each data entry option has the ability to generate a report Can be very useful to generate the report to see what has been carried over from the prior year for each option
USAEMSEDT Processing *** Main Menu *** 1 - Cash Reconciliation 2 - Federal Assistance Programs - Summary 3 - Federal Assistance Programs - Detail 4 - Civil Proceedings 5 - Exit Program ***System Manager Only*** 6 - Change flags Enter option : _
Option 1 - Cash Reconciliation 24 Enter all Bank and ending balances Enter any deposits in transit Enter outstanding checks Enter any adjusting entries List investments Bonds & notes CD’s Securities Other investments List cash on hand (ex: petty cash) Output file = CSHREC.TXT
Option 1 - Cash Reconciliation 25 Figures entered must balance with the Current Fund Balance as reported on the FINSUMM Not in balance if the following is displayed when exiting option 1 USAEMS will generate error if not in balance Total entered in option 1 Total on the account file
Option 2 – Summary Federal Assistance Programs 26 FEDSUM.TXT Federal Assistance Summary Asks the following information: Source Document – FINSUMM for federal funds only, plus any other federal assistance received
Option 3 – Detail Federal Assistance Programs 27 FEDDET.TXT Contains an initialization option Deletes prior year information for 5xx funds Creates new records based on current year figures found on the account file for 5xx funds CFDA # for each record created will need to be entered Records for any funds other than 5xx will also need to be manually entered or updated Bulletin 2009-002 Reporting Federal Student Loans – Adult Ed. http://www.auditor.state.oh.us/LGS/Bulletins/2009/2009-002.pdf
Option 3 – Detail Federal Assistance Programs 28 Suggested Source Documents ODE Web site summary report of amount of Federal Contributions received from ODE CFDA #’s are listed on the printout from the ODE website and are in AOS USAS Manual
Option 4 – Civil Proceedings 29 CVLPRC.TXT Enter data for any law suits during reporting period
USAEMSEDT/Financial Data Reporting 30 Data is then reported to ODE via EMIS reporting (or EMIS-R?) Reporting period H Data types consist of: Cash, Budget, and Revenue accounts Operational Unit Codes as set up in OPUEDT Data entered in USAEMSEDT and USAEMSDB Capital Assets
USAEMS 31 Extracts data from various USAS files and puts it into EMIS file layouts Extracts the account, OPU, USAEMSEDT, and USAEMSDB data Will check that all necessary funds are coded with a valid EMIS Fund Category Checks that Cash Reconciliation balances Outputs USAEMS.SEQ & USAEMS_EMISR.SEQ files USAEMS_EMISR.SEQ contains USAEMSEDT and USAEMSDB data only Fiscal agents for ITC’s need to run again and enter just funds for ITC
USASAUD 33 Run the USAS Auditor Extraction program Extracts information from the account, vendor, check, and receipt data files for auditing purposes Creates ACCTAUD.SEQ, VENDAUD.SEQ, & TRANAUD.SEQ files Also creates FINSUMM report by fund Answer “Y” to “Send data to AOS now”; Sends above files electronically to AOS via email Also creates ACCTAUD, VENDAUD, TRANAUD text files Details information sent to AOS via the sequential files Send email to other entities
Fiscal Year-end Reports 35 Generate any fiscal year-end reports desired Send and email to firstname.lastname@example.org to inform LNOCA to process BACKUPfiscalemail@example.com Wait for LNOCA to send you a notice form the HelpDesk to inform users to exit the system. *We may have other districts closing ahead of your district. Everyone must be out of the system when LNOCA backs up USAS. EVEN PAYROLL !! LNOCA will notify you when we have a complete BACKUP. At that time we will give you the password to run ADJUST
ADJUST 36 Run ADJUST using the LNOCA password. ADJUST will run in batch and CLEAR both the MONTH and FISCAL YEAR totals selecting month-end option EVERYONE must be out of system during the ENTIRE time ADJUST is running. You will receive a message the batch procedure is done. If you want to view in your files use VIEW ADJUST.LOG. If you have any questions or concerns about ADJUST, please just call LNOCA fiscal staff.
Fiscal Yearend ADJUST 37 Accounts Amounts moved to USAHIST file Current fund balance moved to July 1 st Cash Balance Future Year Encumbered added to Future Encumbered then cleared Future Year Requisitioned added to Requisitioned Amt then cleared Next Year Proposed moved to Initial Budget/Rev. and then cleared Current encumbrances moved to Carryover Encumbrances Fiscal-to-date amounts cleared Calculated fields recalculated GAAP Original fields set to new expendable/receivable
Fiscal Yearend ADJUST 38 Vendors Fiscal-to-date amount cleared USASDAT/USACON Current Fiscal Year updated SM2/ADJUST monthly access flags cleared EMIS Reporting Year set to fy just closed
Capital Assets 40 Complete submission of Capital Assets information EIS Districts Follow the EIS closing procedures handout through at least step 3 EISEMS Non-EIS Districts Enter your capital asset information into EMIS-FFE https://ssdt.esu.k12.oh.us/emisffe/ffeUser/login https://ssdt.esu.k12.oh.us/emisffe/ffeUser/login Make sure to ask your ITC to resubmit your EMIS data to ODE.
GAAP Conversion 41 Run USAEXP/GAAP_EXP option to create necessary files for GAAP reporting Can be run either before or after closing out Creates file (GAAPEXP.TXT) to be uploaded into WebGAAP Emails GAAPEXP.TXT to specified email address for uploading into WebGAAP