1 / 12

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

fleur
Télécharger la présentation

Year –End Workshop FY2007 Account Balances/Corrective Action

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  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 !

More Related