1. Colorado Government Human Services Finance Officers Association Conference May 14, 2015 Vicki Caldwell – Teller County caldwellv@co.teller.co.us 719-686-7931

2.  My way is not the only way  Challenges  County year end close processes  EBT Schedule 2

3.  State - Cash Basis  County – Modified Accrual Basis  Different fiscal year ends ◦ State – 6/30 ◦ Federal – 9/30 ◦ County – 12/31 3

4. BEFORE THE END OF THE YEAR  CFMS FFA report - Interim  Auditors arrive for Interim review  Estimate total Departmental expenditures & revenue for the year, by program, and request Budget Adjustments, if necessary  Extra Accounts Payable Run for Social Services Department at the end of December 4

5. AFTER 12/31  Create new year General Ledger system  Create W-2s for all County employees  Create 1099s for appropriate vendors  All Previous year expenses paid in January and February Accrued to previous year  All Previous year revenues received in January and February Accrued to previous year 5

6.  Any Unearned Revenue moved to next year  Multiple closes of December on the General Ledger  CFMS FFA Report – Final  Calculate all “Assigned” portions of Fund Balance  Prepare Preliminary Financial Statements 6

7.  Auditors review Preliminary Financial Statements  Make any changes if necessary  Finalize Financial Statements  Present to the Board of County Commissioners  Submit to multiple Departments, including CDHS  Do the Happy Dance! 7

8. 8 Accounts Payable Cash Receipts Accounts Payable Cash Receipts Unearned Revenue Accruals Financial Statements Reports Clients Files 20142015 Reports

9.  Prepare Annual Cost Allocation Plan ◦ In House or Hire a contractor ◦ Get Reimbursement & Do the Happy Dance again! 9

10. Two Accounting Methods 1.100% 2.County Share Both Methods are Valid If use Method #2, must prepare an EBT Schedule 10

11.  Whole Year Reconciliation of Expense – County to State  Monthly Reconciliations  Prepare County Only List  Prepare List of Items Accrued on County Books  Prepare list of RMS items not booked to County  Run County Alt Exp Detail-WY report from CFMS 11

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13.  Input Amounts from ‘whole year’ CFMS report to ‘State Paid’ & ‘Expenditures by County Warrant’ Columns  Input total from Whole Year report (minus the Cost Allocation portion) to the bottom left  Input ‘County Share of State Paid’ column from County books 13

14.  Input Total Expenditures per County General Ledger Amount  Input Differences from Previous year and Current year lists  Balance to zero  Do the Happy Dance Again!  Include final report in the Notes to the Financials Section of the Financial Statements (top portion of spreadsheet only) 14

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