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Local Government Corp.

Local Government Corp. Changes to Fiscal Year End June 30, 2011. Review of YE Closing June 30th. Payroll > Leave balances, FY deduction times taken Purchasing > Close PO’s to Prior Year Run June month end Run Fiscal Year End. GASB 54 Reporting. 34200-Nonexpendable 34500-Restricted

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Local Government Corp.

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  1. Local Government Corp. Changes to Fiscal Year End June 30, 2011

  2. Review of YE ClosingJune 30th Payroll > Leave balances, FY deduction times taken Purchasing > Close PO’s to Prior Year Run June month end Run Fiscal Year End

  3. GASB 54 Reporting • 34200-Nonexpendable • 34500-Restricted • 34600-Committed • 34700-Assigned • 34900-Unassigned • 34120-Reserved for encumbrances • 34990-Reserverd for other • 39000-Undesignated Fund Balance

  4. July to June: • 34120-Reserved for encumbrances • 34990-Reserverd for other general purposes • 39000-Undesignated Fund Balance Changes to Fund Balance Copy Files for GASB reporting • GASB 54 • 34200-Nonexpendable • 34500-Restricted • 34600-Committed • 34700-Assigned • 34900-Unassigned Journal Entry to Restate Equity Balances

  5. Flexgen > Copy of data files Zortec and NextGen > 13th Month Software Changes

  6. Summary Minimal changes to YE closing process No change to YE documentation New user: GASB54 Entries Reporting No system time limit on GASB 54 reporting YE update to include GASB 54 changes

  7. Questions?

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