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Year –End Workshop FY2007 Account Balances/Corrective Action

Year –End Workshop FY2007 Account Balances/Corrective Action. Financial Management Operations Linda B. Kettler l-kettler@tamu.edu 845-0978. Deficit Account Balances. Subsidiary ledger accounts can not have a deficit budget balance available as of August 31, 2007

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Year –End Workshop FY2007 Account Balances/Corrective Action

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  1. Year –End Workshop FY2007Account Balances/Corrective Action Financial Management Operations Linda B. Kettler l-kettler@tamu.edu 845-0978

  2. Deficit Account Balances • Subsidiary ledger accounts can not have a deficit budget balance available as of August 31, 2007 • 02xxxx and 03xxxx accounts cannot have a deficit accrued cash balance or a deficit fund balance as of August 31, 2007 • Review screen 702 for deficit accrued cash balance and fund balance • Corrective action is required for deficit SL balances, deficit accrued cash balances and deficit fund balances

  3. Screen 702 • 702 GL 6 Digit Reserve Balance 06/12/07 • FY 2007 CC 02 • Year to Date Balance • Thru June • ---------------------- • Special Reserves 0.00 • Fund Balance 47,438.58- • Reserve for Encumbrances 64,994.22 • Accrued Cash Balance 112,432.80- • Fund Balance 47,438.58- • Revenue Budget - Unrealized 132,134.77 • Unobligated Remaining Budget 19,701.97 • Reserve for Encumbrances 64,994.22 • Estimated Uncommitted • Fund Balance 0.00 * • *If negative - corrective action may be necessary

  4. Screen 18 • 018 GL 6 Digit List 06/19/07,18:48 • FY2007 CC02 • Screen:18 Account :XXXXXX Fiscal Year:2007 • Thru Month:6 June • Department: XXXX Resp Person:LINDA KETTLER Flags: D F N • Account YTD Current Month YTD Thru • Control Description Begin Balance June June • ---------------------------------------------------- --------------- --------------- --------------- • 1100 Claim on Cash 68913.63 7187.65 51627.81- • 1300 ,Accounts Receivable 28.30 30.10 • 1310 Accounts Rec – Student 11810.69 1477.77- 16841.11 • 1397 Allowance for Uncoll S 2696.41- 1603.64- • 2100 Accounts Payable 85.00- 10785.52- 11078.34- • 2130 Over-payments on Accoun • 2750 Deferred Revenue 17375.00- • 3200 Fund Bal-Designated 60596.21- 5075.64 47438.58

  5. Corrective Action Due Dates • Corrective action for deficit account balances • Payroll correction • Submit to Employee Services by 5:00 pm August 6, 2007 • Transfer from the Texas A&M Foundation • Submit to the Texas A&M Foundation by July 27, 2007 for scholarships to insure the deposit will be posted in FY07. • Submit to the Texas A&M Foundation by August 10, 2007 for other transfers, to insure the deposit will be posted in FY07.

  6. Corrective Action Due Dates • Corrective action for deficit balances • DBRs • Submit to FMO by August 27, 2007 • Corrections transferring vouchers or IDT’s to another account • Submit to FMO by August 17, 2007 • Cash deposits • Submit to the Cashiers no later than 12:00 p.m. on August 31, 2007.

  7. Support Accounts Do not freeze, delete or drop a support account with a balance: 054 Support Account Flag Maintenance Account xxxxx xxxx This account does not have a BBA of zero Expense BBA:, 71,665.73- Revenue BBA:, 59,225.18 Do you still want to flag this account for Delete (Y/N): N

  8. Beginning Of The Year Transfers • SL balances, encumbrances and reserve for encumbrances brought forward on: • 1xxxxx except for 160xxx • 24xxxx – Designated Tuition • 25xxxx – Continuing Ed • 289xxx – Enhancement Fees • 29xxxx – Available University Fund • 50xxxx-599999 – Restricted • 65xxxx-69xxxx – Scholarship • 8xxxxx – Plant Funds • 94xxxx – Agency Funds • Only encumbrances and reserve for encumbrances brought forward: • 2xxxxx • Except 24xxxx, 25xxxx,289xxx and 29xxxx • 3xxxxx

  9. Amount To Be Transferred • 702 GL 6 Digit Reserve Balance 08/31/07 • FY 2007 CC 02 • Year to Date Balance • Thru 13th Month • ---------------------- • Special Reserves 0.00 • Fund Balance 531,990.21 • Reserve for Encumbrances 318,321.00 • Accrued Cash Balance 213,669.21 • Fund Balance 531,990.21 • Revenue Budget - Unrealized 0.00 • Unobligated Remaining Budget 0.00 • Reserve for Encumbrances 318,321.00 • Estimated Uncommitted • Fund Balance 213,669.21 • *If negative - corrective action may be necessary

  10. Contacts • Corrections: • Elizabeth Aldredge • e-aldredge@tamu.edu or 845-8809 • DBRs • Robbin Foster • rfoster@vpfn.tamu.edu or 845-8108 • General Account Balance Issues • Linda Kettler • L-kettler@tamu.edu or 845-0978

  11. Questions ???

  12. Thank You !

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