ACTUALS LEDGER Reversal: Beginning of # Transaction Fund Type Account # Acct Description Debit Credit next period?

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1 The Fiscal Year End Close Accounting Close section of the Accounting Manual contains information on other potential entries and other year-end information. ACTUALS LEDGER A1 Amortize bond issue costs Retire of Indebt* Bank Fees No and/or discount (if any) Bond Interest Pymts Bond Iss Costs/Discounts A2 Amortize bond premium (if Retire of Indebt* Other liabilities-noncurrent No any) Bond Interest Pymts * If discount/premium is recorded in Plant Funds, make entry in Fullaccrue. A3 Mark up investments to Endowment Investments No market value Endow Inc-Non Operating Reverse entry to record a mark down to market value A4 Record receivable for GF Unexp Plant Appropriation Receivable State Yes capital expenditures pd but State Capital Appropriations not drawn down A5 All Appropriation Receivable State Yes Record receivable for June State Appropriations GF expenditures pd in July A6 Record receivable for grant All Grant and contract receivable Yes expenditures not Grant & contract revenue reimbursed at June 30 A7 Adjust early retirement Local Salaries-Other No liability per Earlyretire.xls Retirement/Tenure payable Reverse A7 entry to decrease the early retirement liability A8 Fringe Benefit Adjustment CND Staff will provide instructions for the adjustment, via Yes A9 June 30 Payroll Accrual CND Staff will provide instructions for the adjustment, via A10Record MN reciprocity receivable Due from Yes (O will send a schedule Tuition near June 30th with amounts for each campus) C:\Users\terry.meyer\AppData\Local\Microsoft\Windows\Temporary Internet Page Files\Content.Outlook\XK5ZYWLA\Copy 1 of fiscal-year-end-entries---jun-14 (2).xlsx

2 The Fiscal Year End Close Accounting Close section of the Accounting Manual contains information on other potential entries and other year-end information. F1 Remove capitalized library library fund Library Book Additions No book purchases from , expenses etc. Library material expenses F2 Invest in plant Library Books No Capitalize library book Library Book Additions additions, remove deletions, Library Books Acc Dep and record deprec Library Books Depreciation Expense Library Books Acc Dep F3 Capitalize building & Invest in plant Land & Bldg Assets No infrastructure additions, Cap Asset Additions remove deletions, and record Bldg/Infrast Acc Dep deprec Land & Bldg Assets Gain(Loss) Disp Cap Asset Depreciation Expense Bldg/Infrast Acc Dep F4 Transfer CIP of completed Invest in plant Buildings/Improvements No projects to buildings Construction in Process Note: Fixed asset system will generate entries for purchases, sales and trade-ins and depreciation of equipment F5 Capitalize intangibles Invest in plant Intangible Asset Additions No additions, deletions and record amortization Cash or Liability (if a liability is incurred, remember to record the proper amount for the current and non-current portion Intangible Assets No Intangible Asset Additions Accum. Amortization No Intangible Assets Amortization Expense Accum. Amortization F5 Invest in plant Bonds Payable No Reduce payables for princ Notes Payable pymts made during the year Capital leases Payable * Special assessments payable Equip Cap Lease-Princ * IT Equip Cap Lease-Princ * Bldg Cap Lease-Princ * Land Cap Lease-Princ * Notes-Princ Special assess. - Princ Bond Principal Pymts F6 Reclass interest on debt if Retire of indebt Equip Cap Lease-Interest No not coded correctly when IT Equip Cap Lease-Interest payments were made Bldg Cap Lease-Interest Land Cap Lease-Interest Special assess. - Interest Bond Interest Pymts Notes Payable-Interest Equip Cap Lease-Princ IT Equip Cap Lease-Princ Bldg Cap Lease-Princ Land Cap Lease-Princ Special assess. - Princ Bond Principal Pymts Notes Payable-Princ F7 Adjust deferred revenue per Tuit coll fund Tution and fees No summer school calculation Deferred Revenue Reverse F7 entry to decrease the deferred revenue C:\Users\terry.meyer\AppData\Local\Microsoft\Windows\Temporary Page Internet 2 Files\Content.Outlook\XK5ZYWLA\Copy of fiscal-year-end-entries---jun-14 (2).xlsx

3 The Fiscal Year End Close Accounting Close section of the Accounting Manual contains information on other potential entries and other year-end information. F8 Reclass non-current portion Invest in plant Bonds Payable - NC Yes LT debt: Notes Payable - NC (only the current portion Capital leases Payable - NC should be in the "current" Special assess payable - NC accounts) Comp Absences - NC Bonds Payable - Curr Notes Payable - Curr Capital leases Payable - Curr Special assess payable - Curr Comp Absences - Curr F9 Reclass non-current portion Loan fund Notes Rec-noncurr Yes of loans/notes receivable: Loans Rec-noncurr (only the current portion Notes Rec-curr should be in the "current" Loans Rec-curr accounts) F10 Reclass non-curr portion of Loan fund Notes Receivable-Allowance Yes loans/notes receivable Loans Receivable-Allownace allowances: (only the current Notes Rec-Allow NonCur portion should be in the Loans Rec-Allow NonCur "current" accounts) F11 Reclass non-current portion Any funds Retirement/Tenue Payable Yes of early retirement Other liabilities-noncurrent agreements (only the current portion should be in the "current" accounts) F12 Reclass unspent bond Unexp plant Cash-BND Restricted Yes proceeds Cash-BND Cash-Svgs/MM-BND Cash-NonBND-Restricted Cash-NonBND Cash-Svgs/MM NonBND F13 Reclass cash in pure Endow Funds Cash-BND Endow Yes endowment funds (if endow Cash-BND cash accts are not used day to day) Cash-Svgs/MM BND Cash-NonBND-Endow Cash-NonBND Cash-Svgs/MM NonBND F14 Reclass cash in quasi Endow Funds Cash-BND Yes endowment funds (if endow Cash-Svgs/MM BND cash accts are used day to day) Cash-BND Endow Note: quasi endowment cash is Cash-NonBND classified as unrestricted Cash-Svgs/MM NonBND Cash-NonBND-Endow C:\Users\terry.meyer\AppData\Local\Microsoft\Windows\Temporary Page Internet 3 Files\Content.Outlook\XK5ZYWLA\Copy of fiscal-year-end-entries---jun-14 (2).xlsx

4 The Fiscal Year End Close Accounting Close section of the Accounting Manual contains information on other potential entries and other year-end information. F15 Reclass cash restricted to Retire of indebt Cash-BND Restricted Yes pay accrued bond interest & Cash-BND current portion of princ Cash-NonBND-Restricted Cash-NonBND F16 Reclass CDs w/0rig maturity Any funds Cash-BND Yes of <= 3 months Cash-BND Restricted CD's-BND Restricted Endow funds Cash-BND Endow CDs-BND Endow Any funds Cash-NonBND Cash-NonBND-Restricted CDs-NonBND Restricted Endow funds Cash-NonBND-Endow CDs-NonBND Endow F17 Relcass unspent bond Unexp plant CDs-BND Restricted Yes proceeds that are temporarily invested CDs-NonBND Restricted Pooled-NonBND Restricted F18 Retire of indebt CDs-BND Restricted Yes Reclass investments in Bond Reserve Funds (if restricted accts are not used day to day) CDs-NonBND Restricted Pooled-NonBND Restricted F19 Reclass true endowment Endow funds CDs-BND Endow Yes investments (if endow invest. accts are not used day to day) Pooled-BND Endow CDs-NonBND Endow Pooled-NonBND Endow F20 Reclass quasi endowment Endow funds Yes investments (if endow accts are CDs-BND Endow used day to day) Pooled-BND Endow Note: quasi endowment investments are classified as CDs-NonBND Endow unrestricted Pooled-NonBND Endow F21 Reclass unrestricted & quasiendow Any funds CDs-BND Noncurrent Yes investments w/ maturity > 1 year, (exclude restricted & endowment CDs-NonBND Noncurrent investments above) Pooled-NonBND Noncurrent F22 Reclass amounts due from Any funds Due from Other state agencies Yes other State Agencies Accts Rec G&C Rec. F23 Reclass amounts due to Any funds Accts payable Yes other State Agencies Due to Other state agencies F24 Reclass or record amounts Any funds Due fr Component Units Yes due from component units Accts Rec C:\Users\terry.meyer\AppData\Local\Microsoft\Windows\Temporary Page Internet 4 Files\Content.Outlook\XK5ZYWLA\Copy of fiscal-year-end-entries---jun-14 (2).xlsx

5 The Fiscal Year End Close Accounting Close section of the Accounting Manual contains information on other potential entries and other year-end information. or 4xxxxx Applicable Revenue account F25 Reclass amounts due to Any funds Accts payable Yes component units or 5xxxxx Applicable expense account Due to Component Units F26 Reclass advances from BND Any funds Notes payable Yes (if acct is not used day to day) Advances from BND F27 Reclass equity for unspent Unexp plant Net assets unrestricted Yes, Per 2 bond, lease, gift proceeds Expendable Capital projects F28 Invest in Plant Expendable Capital projects Yes, Per 2 Reclass bond, lease, note payable in amount equal to unspent proceeds that are reclassed in #F27 Varies Reclass to same net assets component as the unspent proceeds. For example, restricted, expendable or restricted for capital projects F29 Reclass quasi-endow net Endow Funds Non expend scholarships Yes, Per 2 asset balances to Net assets unrestricted unrestricted F29 Reclass bad debt expense Various Various revenue Various revenue No to appropropriate revenue Not all of the following may apply to your campus: accounts. Tuition and Fees Auxiliaries Federal, state or nongovt. G&C (operating) Federal, state or nongovt. G&C (nonoperating) Sales & services Gifts Tax revenues Gen grant expend. Other operating rev. Other non-oper rev Bad debt expense F30 Reclass capital gifts / Gifts/Gifts from Related Foundatio No Capital Gifts/Capital Gifts / from Related Foundations F31 Reclass accounts receivable Varies Due from other inst. Yes from other institutions, Various A/R accounts Various A/R accounts system office and CTS to Due FROM Institutions account (threshold indiv. transactions greater than $2,000) (verify balances with other instit, system office and CTS prior to making entry) F32 Reclass accounts payable Varies Various A/P or other liability accounts Various A/P or other liability accounts Yes to other institutions, Due from other inst. system office and CTS to Due TO Institutions account (threshold indiv. transactions greater than $2,000) (verify balances with other instit, system office and CTS prior to making entry) F33 Reclass accounts receivable Varies Due from CU - current Yes from component units Due from CU - noncurrent C:\Users\terry.meyer\AppData\Local\Microsoft\Windows\Temporary Page Internet 5 Files\Content.Outlook\XK5ZYWLA\Copy of fiscal-year-end-entries---jun-14 (2).xlsx

6 The Fiscal Year End Close Accounting Close section of the Accounting Manual contains information on other potential entries and other year-end information. (threshold indiv. transactions greater than $2,000 Various A/R accounts Various A/R accounts (reclass receivable from component units that are presented in the financial statements. Do not include receivables from other organizations) F34 Reclass accounts payable Varies Various A/P or other liability accounts Various A/P or other liability accounts Yes to other component units A/P to CU-Current (threshold indiv. transactions greater than $2, A/P to CU-Non-Current (reclass payable to component units that are presented in the financial statements. Do not include payables from other organizations) C:\Users\terry.meyer\AppData\Local\Microsoft\Windows\Temporary Page Internet 6 Files\Content.Outlook\XK5ZYWLA\Copy of fiscal-year-end-entries---jun-14 (2).xlsx

7 The Fiscal Year End Close Accounting Close section of the Accounting Manual contains information on other potential entries and other year-end information. CONSOL LEDGER C1 Enter scholarship allowance tuit coll fund Tuition & Fees No calculation Transfers in aux fund Auxiliary Revenues Transfers in schol fund Transfers out Scholarships & Fellowships C2 Allocate plant/admin Auxiliary fund Operating Expense-aux No expenses to auxiliaries per Transfers in campus calculation Funct= Transfers out Operating Expense-inst supp Funct= Transfers out Operating Expense-phys plant C3 Eliminate indirect costs drawn Local fund Indirect No down in G&C funds Facilities & Administration C4 Eliminate admin exp drawn Local fund Admin Allowances No down in fin aid funds Admin Allowances C5 To reclass grants & contracts G&C fund Federal grants & contracts No received for capital assets State grants & contracts Private grants & contracts Federal capital Pass thru G&C State capital grants & contracts Private capital G&C C6 Reclass non-capitalized Any Other non oper revenue No expenses pd with cap lease to Minor equipment expense non-operating C7 Reclass new special Any Other non oper revenue No assessments not capitalized Minor equipment expense to non-oper C8 Eliminate interdepartmental Local fund Interdepartmental Revenue No revenue 5xxxxx Appropriate expense C9 Eliminate all foundation, Agency Yes alumni and component unit asset, liability and net asset accounts from agency funds C10 Reclass graduate assistant Varies Salaries - Faculty No waivers to fringes Waivers, Scholarships, Fellowships C10 Reclass employee waivers Varies Employee Tuition Waivers No waivers to fringes Waivers, Scholarships, Fellowships C:\Users\terry.meyer\AppData\Local\Microsoft\Windows\Temporary Page Internet 7 Files\Content.Outlook\XK5ZYWLA\Copy of fiscal-year-end-entries---jun-14 (2).xlsx

ACTUALS LEDGER Reversal: Beginning of # Transaction Fund Type Account # Acct Description Debit Credit next period?

ACTUALS LEDGER Reversal: Beginning of # Transaction Fund Type Account # Acct Description Debit Credit next period? ACTUALS LEDGER # Transaction Fund Type Account # Acct Description Debit Credit next period? A1 Amortize bond issue costs Retire of Indebt* 621070 Bank Fees $xxx and/or discount (if any) 701005 Bond Interest