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FMIS

FMIS. R*STARS Closing Fiscal Year 2014. Comptroller of Maryland Peter Franchot. Deadline Dates. Payroll accrual – May 31 Budget amendments – June 13 Cash/adjusting transactions – July 15 / 25 Close – August 1. DBM Requirements. Meet with DBM for encumbrance review

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FMIS

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  1. FMIS R*STARS Closing Fiscal Year 2014 Comptroller of Maryland Peter Franchot

  2. Deadline Dates • Payroll accrual – May 31 • Budget amendments – June 13 • Cash/adjusting transactions – July 15 / 25 • Close – August 1

  3. DBM Requirements Meet with DBM for encumbrance review Pay balance - objects 0152 and 0154 to SERHWBF • General Fund and • Any Special and Higher Education Funds that do not retain funds at YE

  4. DBM Requirements (Cont'd) Accrue Objects 0305 & 0322 based on DBM estimates Submit Agency Closing to DBM form

  5. R*STARS Closing Checklist

  6. IT File • No transactions • Vouchers payable

  7. Budget Amendments • Posted • DBM Form • Must list each BA separately • Must provide fund total(s) for each BA • Add fund totals for all BA's combined

  8. Receivables/Payables • Recorded in accordance with policy

  9. Appropriations • Can revert

  10. GAAP Accounts Payable • Reported

  11. Fund Balances • Transaction recorded to transfer funds • Legal authority to retain OR

  12. Fixed Assets • Post all new assets only thru the Fixed Assets Subsystem

  13. No Negative Appropriations!

  14. Chargeback Clearing/Program 099 • Cleared

  15. GAAP Trial Balance  • Reviewed

  16. Submitted by Financial Agency

  17. FMIS R*STARS Closing End of Part I

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