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WELCOME

WELCOME. DIVISION OF ACCOUNTS ANNUAL YEAR-END ACCOUNTING. REUNION … We Are Family I’ve Got All My “Fiscal Workers” With Me…. STARS. STATE OF TENNESSEE ACCOUNTING AND REPORTING SYSTEM. http://www.state.tn.us/finance/act/accounts.html. FINAL DATES FOR DEPARTMENT SUBMISSIONS OF FFY 2008.

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WELCOME

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  1. WELCOME

  2. DIVISION OF ACCOUNTSANNUAL YEAR-END ACCOUNTING REUNION …We Are Family I’ve Got All My “Fiscal Workers” With Me…

  3. STARS STATE OF TENNESSEE ACCOUNTING AND REPORTING SYSTEM

  4. http://www.state.tn.us/finance/act/accounts.html

  5. FINAL DATES FOR DEPARTMENT SUBMISSIONS OF FFY 2008 • D TYPES: July 15, 2008 • C, U & T TYPES: July 15, 2008 • W TYPES: July 15, 2008 • I TYPES: July 17, 2008 • G TYPES: July 28, 2008 • J TYPES: August 12, 2008 • JE REQUESTS: August 22, 2008 • A TYPES: August 25, 2008 • H TYPES: August 25, 2008

  6. NO EXCEPTIONS • PRELIMINARY STARS REPORTS WILL BE RUN EVERY OTHER WEEKEND BEGINNING JULY 19, 2008 • CURRENT TO DATE ACTIVITY AND BALANCES CAN BE OBTAINED THROUGH FDAS BETWEEN PRELIMINARIES

  7. “YOU DON’T HAVE TO BE AFRAID OF CHANGE.YOU DON’T HAVE TO WORRY ABOUT WHAT’S BEING TAKEN AWAY.JUST LOOK TO SEE WHAT’S BEEN ADDED.”Author: Jackie Greer

  8. BETTERMENT CHANGE NO. 1 OVERVIEW

  9. ACCRUED LIABILITIES • EFFECTIVE WITH JUNE 30, 2008 CLOSING, ACCRUED LIABILITIES WILL NO LONGER BE ESTABLISHED AT THE STARS DOCUMENT FILE LEVEL (i.e. BY PURCHASE ORDER OR CONTRACT)

  10. ACCRUED LIABILITIES • FOR FFY 08 CLOSING/FFY 09 OPENING, THE ACCRUED LIABILITY PROCESS WILL IN MANY WAYS MIRROR THE ACCOUNTS RECEIVABLE PROCESS

  11. WHAT THIS MEANS TO YOU • ACCRUED LIABILITIES WILL BE ESTABLISHED AT THE CLOSE OF THE FFY & REVERSED AT THE BEGINNING OF THE NEW FFY • ACCRUED LIABILITY ESTABLISHING G BATCHES MUST BE ACCOMPANIED BY REVERSING G BATCHES

  12. WHAT THIS MEANS TO YOU • G TYPE BATCHES WILL NO LONGER REFERENCE DOCUMENTS CARRIED IN THE STARS DOCUMENT FILE • NEW DETAILED SCHEDULE OF ACCRUED LIABILITIES FORM WILL BE REQUIRED -SAME FORM WILL BE USED TO SUPPORT RELATED AR (A TYPE) BATCHES

  13. WHAT THIS MEANS TO YOU • NEW YEAR PAYMENT PROCESSING WILL BE THE SAME, WHETHER THE PAYMENT IS BEING MADE AGAINST NEW YEAR BUDGET, OR, AGAINST AN ACCRUED LIABILITY ESTABLISHED AGAINST THE OLD YEAR BUDGET • NO MORE TC 475 – OR CONCERN ABOUT USING THE CORRECT FFY

  14. WHAT THIS MEANS TO YOU • IF AN ACCRUED LIABILITY IS ESTABLISHED FOR THE CORRECT AMOUNT, ITS REVERSAL RESULTS IN NET ZERO NEW YEAR BUDGET IMPACT • ACCRUED LIABILITY UNDER OR OVER STATEMENTS, RESULTING FROM USE OF ESTIMATES, WILL AUTOMATICALLY FLOW THROUGH NEW YEAR BUDGET

  15. WHAT THIS MEANS TO YOU • THE USE OF ESTIMATES IN FUNDS 11, 21 AND 25, THAT RESULT IN ACCRUED LIABILITY OVERSTATEMENTS, WILL BE CLOSELY MONITORED BY THE DIVISION OF ACCOUNTS AND THE DIVISION OF BUDGET

  16. WHAT THISDOES NOT MEAN TO YOU • THAT THE DEFINITION OF AN ACCRUED LIABILITY HAS CHANGED • THAT PURCHASE & BUDGET AUTHORITY ARE NO LONGER PRE ESTABLISHMENT REQUIREMENTS

  17. BETTERMENT CHANGE NO. 2 OVERVIEW

  18. YEAR END ENCUMBRANCE ACCOUNTING • OUTSTANDING ENCUMBRANCES DO NOT CONSTITUTE EXPENDITURES OR LIABILITIES • STATE POLICY HAS ALWAYS BEEN TO CLOSE UNLIQUIDATED “CONTRACT”; MULTI FUNDED; AND, INSIGNIFICANT “PURCHASE ORDER” ENCUMBRANCES AND RECOMMIT THESE AGAINST NEW YEAR APPROPRIATIONS

  19. YEAR END PURCHASE ORDER ENCUMBRANCE ACCOUNTING • SOME “OPEN” PURCHASE ORDER ENCUMBRANCES IN FUNDS 11, 20, 21, & 25 HAVE PREVIOUSLY BEEN RESERVED AT THE CLOSE OF THE FFY AND THE ENCUMBERED APPROPRIATION AUTHORITY CARRIED OVER TO THE NEW YEAR • BEGINNING WITH THE FFY 08 CLOSING THIS WILL NO LONGER OCCUR

  20. YEAR END PURCHASE ORDER ENCUMBRANCE ACCOUNTING • ALL UNLIQUIDATED ENCUMBRANCES AT JUNE 30 WILL BE CLOSED AND RE- COMMITTED AGAINST THE NEW YEAR APPROPRIATION • NEAR END OF YEAR OPEN PURCHASE ORDER ENCUMBRANCE REPORTS WILL BE DISTRIBUTED TO DETERMINE WHICH POs ARE STILL NEEDED & WHICH CAN BE CANCELLED

  21. IN ESSENCE, THIS MEANS: • IN THE ABSENCE OF SPECIFIC RESERVE OR CARRY FORWARD AUTHORITY, UNEXPENDED APPROPRIATIONS AT THE END OF THE FFY WILL BE AVAILABLE FOR SUBSEQUENT EXPENDITURE ONLY TO THE EXTENT THAT LIABILITIES HAVE BEEN INCURRED AT JUNE 30

  22. YEAR END PURCHASE ORDER ENCUMBRANCE ACCOUNTING • PREVIOUS PRACTICE EXTREMELY CUMBERSOME, IN MOST RESPECTS MANUAL AND SUBJECT TO A HIGH RISK OF ERROR • DIVISION OF BUDGET SUPPORTS THIS CHANGE

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