2009 MVECA USAS FISCAL YEAR END

The following checklist outlines the steps to be followed when closing out USAS for the

month, quarter and fiscal year.

*Not required for ESCs.

PRE-CLOSING PROCEDURES

___1*. Complete new District/Building Records in EMISWEB

·         Transportation and lunchroom percentages and correct square footage fields are on the Building Financial Record (DM)

·         Central Office Square footage is on the District Financial record (DD)

___2.  Run the program VALACT to insure that no invalid accounts exist in the account master file.  If invalid accounts do exist, they have to be eliminated before processing USAEMSEDT (or 4502). Invalid accounts can be eliminated via ACTCHG or FNDCHG program by changing them to valid account codes.

___3.  Enter EMIS Fund Categories in ACTSCN for required funds.  The category defines the FUND/SCC describing what type of fund it is for EMIS yearend financial data processing and is required for funds that have multiple sources of revenue as defined in the biennial budget.  You may run an EMISFCAT report for a listing of all cash accounts with their EMIS fund category.  See ODE Brief Description QC185. 

___4.  OPULST is a report of user defined OPUs.  Use OPUEDT to modify or add.  The entity type is set to "C" if the OPU is set up to track central office expenses. Otherwise, the entity type is left blank.  IRNs must belong to your district.  Operational Units are critical to the EFM calculations.  The IRN used determines what building an expenditure will be reported under.  OPUs coded to the district IRN will get prorated for the EFM reports.

___5*.  Create Sample EFM reports.

            ___a.  The building and district profile information for yearend should have been  entered prior to May 30, 2009 using the EMIS program EMSGCN.

___b.  Run the EFM_LOCAL program to generate EFM reports utilizing USAS data files. 

n  Enter EFM_LOCAL at the menu prompt. 

n  Select “U” to use USAS data. 

n  Remove Spreadsheet filename and Spreadsheet Type (space through and leave blank)

            ___c.  Review the resulting reports:  EFMRP1, EFMRP2, EFMRP3, EFMINCR, EFMEXCD and EFMEXCS.  If any corrections or account changes are necessary, these changes can be completed now before closing out the fiscal year. 

            NOTE:  The ADM figures may be estimates at this point, depending upon how soon ODE makes actual June ADM figures available.

___6.  The APPROP program can be used to enter Next Year Proposed budget and revenue estimates.  Options 1-4 are used if budgeting before running ADJUST to close the fiscal year. (Options 5-8 are used to add initial budget after the close of the fiscal year.)

___7.  Set “TRACK ACCOUNTS PAYABLE FLAG” in the USASDAT/USACON to “Y”.  Recommended to keep this flag set all year to “Y”.  This provides the ability to track items received in the current fiscal year but not paid for until after July 1 of the next fiscal year (required for GAAP reporting). 

MONTH END CLOSING

___8.   ENTER ALL TRANSACTONS FOR THE CURRENT MONTH.

___9.   Attempt to reconcile the USAS records with bank(s).

n  Perform districts normal bank reconciliation procedure.

n  Generate Cash Reconciliation using the cash reconciliation (option 1) of the USAEMSEDT program (or 4502), summary FINDET,FINSUMM, PODETL (Outstanding POs) & BALCHK reports.

___10.  Examine the MTD, YTD, FYTD revenue & expenditure lines on the BALCHK report.  The dollar amounts for cash and revenue accounts should be identical for each line on the report.

___11.  Compare Current Encumbered totals from the BALCHK and PODETL reports.  Execute the program FIXENC to correct if errors occur and then regenerate BALCHK and compare totals.  If the totals still do not balance contact MVECA for assistance.

___12.  Run FINSUMM selecting the option to automatically create the FINDET for comparison.  This will cause the FINDET report to be generated with the same selection criteria as the FINSUMM. 

___13.  If all the above steps are performed and totals agree, accounts are balanced. Proceed!

COMPLETE STEPS 14 & 15 ONLY IF TRACKING SM2 FIGURES

___14.  RUN THE SM12 PROGRAM AND SELECT THE “CALCULATED OPTION”.  Upon completion generate a report if desired. 

___15.  Generate the quarterly SM12 report and check it carefully.  If errors occur, discontinue this procedure and contact MVECA for assistance in making the necessary corrections.

___16.  WARNING:  USE OF SETBAL REQUIRES BOARD APPROVAL!  SETBAL is used to set the receivable and/or the unencumbered balances to zero.  It can be run as the projection or update mode.  If the budget option is updated, the BUDLNK program must also be ran to bring the appropriations in line with the budget.

___17.  GENERATE ALL NEEDED MONTH-END REPORTS.

The following is a list of the MINIMUM report listings recommended for retention on a monthly basis:

___USARPT/BUDSUM using YTD (or split) Budget Summary-All Funds

___USARPT/APPSUM using YTD (or split) Appropriation Summary-All Funds

___USARPT/REVSUM using YTD option Revenue Summary-All Funds

___POSUMM summary of PO’s

___PODETL detail report of PO’s

___ FINSUMM and FINDET Reports

___RECLED Reports-All funds, All options

___CHKREG Detailed Check Register for the Month

___CSHREC -Cash Reconciliation Report using the cash reconciliation (option1) of the USAEMSEDT (or 4502) Program

___VENDOR2 - Vendor Listing with FYTD Threshold for Auditors

Retention note:  It is recommended that the above reports be stored until the books have been audited.

FISCAL YEAR END CLOSING

___18.  Run USAEMSEDT  (or process the 4502.  See 4502 Instructions document for details.)

USAEMSEDT can be completed after fiscal year close.  The backup is created when USAS_FYBCK is executed (step 27 of this procedure) prior to closing.  Proceed to Step 23 if the financial EMIS data will be processed from the backup. 

              Must enter all 4 options even if there is nothing to input.

              ___a.  Cash Reconciliation – enter bank ending blanaces, deposits in transit, outstanding check totals, adjusting entries, investment information and petty cash amounts.  The total ending balance must equal the current fund balance on FINSUMM.  Creates CSHREC.TXT

            ___b.  Federal Assistance Programs – Summary – Reports if distirct had more or less than $500,000 in Federal expenditures during the fiscal year.  Creates FEDSUM.TXT

            ___c.  Federal Assistance Programs – Detail –

·         Run the initialization option to delete all 5xx funds from previous year and creates a new record for non-zero figures for current fiscal year.

·         Add CFDA #  to new records

·         Add /Update federal aid received on non 5xx funds

·         Districts with federal loans for Adult Ed programs see AOS Bulletin 2009-002.  Non-federal fund numbers 022 and 012 need to be added to this detail.

·         ODE’s webpage contains a summary report of federal contributions

·         Creates FEDDET.TXT

___d.  Civil Proceedings – If the district is involved as a plaintiff or defendant in any law suits, they should be disclosed here.  CVLPRC.TXT

___19.  Run EISEMS or enter Capital Assets in EMISWEB.  If capital assets are not complete at this time, skip this step and proceed to USAEMS.  EISEMS can be completed after closing the fiscal year and must be completed prior to the final submission of 09H (9/25/09). 

• EMIS elements required (See EMIS Manual Chapter 4, page 57-58)

  • Capial Assets Code (QC971) – Specifies which row it will appear on the statement:  depreciable or non-depreciable.  One record will be reported for each code with a non-zero amount

  • Capital Assets Code Old Balance (QC972) – Starting Balance June 30 prior fiscal year, for this particular Capital Asset Code

  • Capital Assets Code Additions (QC973) – Amounts to be added for the current fiscal year to the starting balance

  • Capital Assets Code Deductions (QC974) – Amounts to be subtracted for the current fiscal year from the starting balance

___20.  Run USAEMS once satisfied with the accuracy of reports.  Extracts account, OPU and USAEMSEDT data from USAS to load into EMIS

• Accounts extracted are based on the “SM1/SM2” flag in  CASHSCN          

• Will validate EMIS Fund Category and issue errors.

• Will check CSHREC (Cash Reconciliation) to see if it balances.

___21.  Enter a Unicenter ServiceDesk ticket when you have completed your extraction so that it can be loaded into EMIS and submitted to ODE

___22.  RUN THE USAS AUDITOR EXTRACTION PROGRAM, USASAUD.

(Answer “Y” to the question “Send data to the AOS now”)    

This program will take information from the Account Master, Vendor, Check, and

Receipt files and create 3 new data files:  ACCTAUD.SEQ, VENDAUD.SEQ

and TRANAUD.SEQ.  Do not attempt to print these files.  Reports of this data will also be created called ACCTAUD.TXT, VENDAUD.TXT and TRANAUD.TXT.  These reports will detail the exact information that the auditor’s office is receiving in the above files.  The ACCTAUD, VENDAUD and TRANAUD.SEQ file along with a FINSUMM fy fund are sent via email to the State Auditor’s Office where it may be used in the auditing process.

___23.  USAEXP/GAAP_EXP –  The files are used for GAAP.  Extracts cash activity which will be imported into GAAP/GASB34 for use in Web-GAAP

___24.  Run WORKCOMP or BWCRPT- Workers compensation Report

___25.  Verify that NEXT YEAR PROPOSED amounts are accurate.  They will be brought over when adjust is executed.

___26.  Generate any fiscal year end reports that may not be included in the FISCALCD step below with the sort options preferred.

·         4502 reports were removed from FISCALCD. 

·         CSHREC, FEDSUM, FEDDET and CVLPRC will copy to MonthlyCD

·         TRANADV, also, added to MonthlyCD

IMPORTANT STEP BELOW:

___27.  USAS_FYBCK - TO BACKUP THE  DATA FILES – Users may not access USAS files during the backup procedure-including certain payroll screens.
(Do not proceed until this is accomplished.)

___28.  Run FISCALCD (BEFORE ADJUST). This procedure will generate a

standardized set of fiscal USAS financial reports available from MonthlyCD on the  MVECA/Fiscal Webpage and can be archived to CDRom, if desired.

(See FISCALCD REPORTS AND SORT OPTIONS, USAS Reference Manual, Chapter 46)

___29.  Run ADJUST for month-end (JUNE ONLY) saying Y to run Monthly CD. Then choose option 1 to perform month-end processing.  The program will ask for which month and a confirmation that ALL processing for that month is complete. 

___30.  Run ADJUST  for yearend saying N to Monthly CD and choosing OPTION 2 (year-end processing) and then select the FISCAL option.

This completes all necessary steps to close USAS for the fiscal year.  BEGIN PROCESSING FOR FY 2010  J

POST-ADJUST PROCESSING

___31.  Run USACERT

The USASCERT/CERTBAL program produces a Certificate of Available balances report which is to be submitted to the county auditor at the beginning of the fiscal year. CERTBAL pulls the necessary data directly from the account master information. Reporting requirement states that only interest earnings are to be considered available for expenditure when certifying the year-end balances of non expendable trust funds to the county auditors.  Therefore, CERTBAL will report the FYTD expendable amount for these funds (008) instead of the July 1 cash balance. Thus, the expendable amount for these funds should reflect the amount of accumulated unspent interest, and not contain any principal amounts.  (See AOS Bulletin 98-004 for more information on this requirement.) It is necessary to enter any advances that have not been repaid when generating the report.

___32.  Optional:  Burn reports to CD.  Use the VFC2PDF command to turn the reports into .pdf reports.  Your CPA firm may also request you to email your financial reports in PDF format.   Complete these steps for any needed reports:

            a.  Menu>VFC2PDF CSHREC.TXT

            b.  File transfer the .pdf file to your PC using transfer type IMAGE

            c.  Access your email and attach the PDF file to your email message

PROCESSING USAEMSEDT (or 4502) AFTER CLOSE OF FISCAL YEAR

___33.  At the menu prompt execute the command 4502HIST

            Menu>4502HIST

___34.  Go to step 18 and process steps a-g.  Also, see 4502 Instructions for details. 

___35. Contact MVECA fiscal@mveca.org to get the archived 4502 reports to FISCALCD. 

___36.  Return to live files

                             Menu>4502live

Complete Capital Assets reporting to EMIS by executing the EISEMS program or entering your data directly in EMISWEB.  Be sure to add a Unicenter ticket when your data is ready to be re-submitted to ODE.