District Closing Checklist PeopleSoft - Financial Accounting

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1 A.- Please answer the following questions Yes or No, Charters N/A. To the extent that no more fund accounting entries are needed: a.- Have you completed all applicable forms in your SACS Software for the Unaudited Actuals? b.- Have you checked your SEMOE compliance? (Special Ed. Maintenance of Effort)? c.- Have you completed your Government-wide GASB 34 and/or GASB 45 OPEB reports? Note: GASB does not need to be completed to close nor to submit the Official SACS file as long as no additional fund accounting entries are needed. - REMINDERS - DOWNLOAD A FINAL SACS FILE IF YOU MADE PEOPLESOFT ADJUSTMENTS SINCE YOUR LAST DOWNLOAD AND RUN A FINAL TECHNICAL REVIEW CHECKLIST AFTER CHECKLIST IS SUBMITTED TO FINANCIAL ACCOUNTING DO NOT TO USE PERIOD "998". For Queries use Year: 2018 B.- You will use queries to complete the checklist. Main Menu > Reporting Tools > Query > Query Viewer Search By : "Query Name" Begins with: "FAR" 1. Use "FAR_GL_ACTUALS_2_FD_OBJ - Fund & Object" to find funds in use. Financial Accounting Page 1 of 6

2 2. Use "FAR_GL_ACTUALS_3_FD_RES_7OBJ - Fund, Resource Object" Verify ZERO balances for each object code range below in all funds. Object Code ranges: to to to to Use "FAR_GL_ACTUALS_3_FD_RES_7OBJ - Fund, Resource Object" Verify the resource range of to has a ZERO balances in all object codes in all funds Financial Accounting Page 2 of 6

3 4. Use "FAR_ENCUMBRANCE_LEDGERS - Total Encumbrances" Verify there are no encumbrances & pre-encumbrances on the ledgers. Charters select N/A - If results are "No matching values were found" select PASS If query returns values: sum the "Sum Total Amt" column: - If the total sum Nets to zero, Select 'PASS' - If the total sum does not Net to zero, clear all encumbrances. 5. Use "FAR_GL_ACTUALS_3_FD_RES_7OBJ - Fund, Resource Object" Verify LCFF Adjustment has been made as appropriate for your district. Fifty percent (50%) of the amount in revenue accounts must be transferred from LCFF Sources to Other Local Income X 50% = X 50% = Total A + B (A) (B) Amount in $ = Amount in $ Debit balance (Total of A + B) = Credit balance (Total of A + B) Financial Accounting Page 3 of 6

4 6. Use "FAR_GL_ACTUALS_3_FD_RES_7OBJ - Fund, Resource Object" Verify a zero balance in 9140 except for a deposit sent to Wells Fargo Bank by June 30 and not posted until July Use "FAR_GL_ACTUALS_3_FD_RES_7OBJ - Fund, Resource Object" Verify the following accounts have CREDIT balances. A NEGATIVE amount signifies a credit balance Financial Accounting Page 4 of 6

5 8. Use "FAR_GL_ACTUALS_3_FD_RES_7OBJ - Fund, Resource Object" Verify the following accounts have DEBIT balances. A POSITIVE amount signifies a debit balance Use "FAR_GL_ACTUALS_3_FD_RES_7OBJ - Fund, Resource Object" Verify ZERO balances in all object codes below Financial Accounting Page 5 of 6

6 10. Use "FAR_GL_ACTUALS_3_FD_RES_7OBJ - Actuals" RMA Required Minimum Contribution. For through Greater of a or b: a) Lesser of 14/15 amount or 3% of total GFE b) 2% of total GFE Note: After receipt of funds requirement reverts to 3% of total GFE. 10. A.- Is your district in receipt of funds? If Yes, Enter requirement amount of 3% of total GFE after receipt of funds. If No, Continue to complete section 10.B 10. B.- Enter: Contribution Enter: 3% Total Expenditures a. Lesser of 1415 or 3% = $ $ $ Greater of a. or b. Mimimum Contribution Amt b. Enter: 2% Total Expenditures $ $ When you have completed the Checklist, a copy to Financial Accounting at finacct@sdcoe.net to inform us that you are ready to be audited. Financial Accounting Page 6 of 6