Fiscal Year 2019 TransNet Audit Schedule B Guide

1. Fiscal Year 2019TransNet Fiscal & Compliance (AUP) Audit Schedule B Preparation

2. Schedule B vs. Schedule A • Schedule B is not identical to Schedule A • Report TransNet Extension activity only • No Beginning Balance Column • No Adjustments Column • No TI Section • No Non-TransNet Section • No GASB 31 Section • Includes Completed Project totals by Program

3. Set Up the FY 2019 Schedule Change dates for the current audit year Ensure MPO IDs & Project Numbers on Schedule B are in same order as Schedule A

4. Set Up the FY 2019 Schedule Ensure ending balance (before adding FY19 activity) ties to Schedule A beginning balance

5. Set Up the FY 2019 Schedule ***This is Schedule A*** GASB 31 is not on Schedule B But is on Schedule A Must tie to Schedule B FY18 Ending Balance

6. Populate your Schedule Now that you’ve set up your Schedule, begin populating the report • Do not automatically pull in prior year cumulative data • Each cell with prior year data should reflect all information: =80000+15000+25000 • Provides audit trail that all reviewing parties can follow • Add current year data to formula • Enter amounts from Schedule A Adjustment column

7. Adjustment Activity • No ‘Adjustment’ column in Schedule B • Using Schedule A Adjustment column: • Determine if adjustment is a Revenue or Expenditure (may have both in one adjustment) • If Revenue, then increase/decrease ‘Funds Received’ in Schedule B • If Expenditure, increase/decrease ‘Project Expenditures’ in Schedule B

8. Adjustment Activity • No ‘Adjustment’ column in Schedule B • Using Schedule A Adjustment column: • Notes to Schedule A should provide guidance to determine if adjustment to Revenue or Expenditure (if Note is not clear, then modify the Note) • May also be adjustment to Interest Income • For Pooled Interest, adjustment to project should always be increase to Revenue

9. Reminders • Active CIPs/MPO IDs • Do not report in Schedule A if all zeroes • Okay to keep on Excel spreadsheet, just ‘Hide’ row; • No need for Footnote • Detail of all active projects are to be reported in Schedule B, even if not showing in Schedule A • Cells that must match between Schedules A and B: • Ending balance at 6/30/19 for each CIP; • Ending balance at 6/30/19 for each MPO; • Ending balance at 6/30/19 for each Program; and • Total Cumulative TransNet

10. Reminders • MPO IDs & Project Numbers should be reported in same order on Schedules A & B • Footnotes are generally not required • Check with Auditors for unusual situations that may require a one-time Footnote

11. Schedule B sample This last column must match Schedule A’s ending balance as of 06/30/2019

12. Completed Projects • Completed Projects are shown in Schedule B to provide a complete picture of cumulative activity • The Completed Projects section is listed by Program and includes the net of all projects within the Program type • Use the same order as Schedule A • Location is below “Subtotal Cumulative TransNet Extension” and before “Total Cumulative TransNet Extension” ***Do not include TransNet I activity in this section***

13. Completed Projects Completed projects populated here.

14. Thank you