Financial Reporting Progress and Challenges for FY2022 and FY2023

The financial reporting journey from FY2022 to FY2023 highlights improvements recognized by auditors alongside ongoing concerns regarding data integrity and cash balances. The focus for FY2023 includes reconciling data, sunsetting accounts, and addressing out-of-balance issues that need resolution.

• Financial reporting
• FY2022
• FY2023
• Data integrity
• Cash balances

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1. PEOPLESOFT/AFRS REPORTING REQUIREMENTS Sue Willis Interim ctc-Link System Accounting Manager

2. TODAY. AFRS 2022 Yearend AFRS 2023 Going forward & looking back 2

3. FY2022 IT S OVER!!!!!!! 3

4. THE GOOD The SAO acknowledged that our data integrity was greatly improved. Our OFM consultants have also noted that our data reporting is greatly improved and we are on the right track to getting to our goal of having the system balanced. 4

5. ITEMS OF CONCERN AFRS 2022 The SAO acknowledged our AFRS reporting has improved but the OFM finding for our data will be re-issued. Cash balances continue to be a point of concern for OFM. 5

6. FY2023 FOCUS AND CHANGES SMARTER 210-Operating Allocations Begin reconciliation of prior year PeopleSoft data to AFRS Sunsetting accounts and subsidiaries Account usage 6

7. FY 2023 SUNSETTING ACCOUNTS - SUBSIDS Accounts slated to sunset during FY2023 and will need to be eliminated from the general ledger. 7

8. CONTINUED FY 2023 SUNSETTING ACCOUNTS & SUBSIDS Account 1010140 & 2012010 are out of balance at open. The accounts have been used for transactions in FY2023 and the out of balance number variance is growing 8

9. CONTINUED FY 2023 SUNSETTING ACCOUNTS & SUBSIDS Pooled cash just need to be closed out in FY2023. SBCTC is aware of the out of balance amount and will work with the College to get the item cleared. 9

10. CONTINUED FY 2023 SUNSETTING ACCOUNTS & SUBSIDS Please review your accounts to determine why treasury cash has been used in FY2023. Subsidiary 000000 will be inactivated by November 30. This is not a subsid that can be transmitted to AFRS and it is getting included in the data transmission. 10

11. IMPERMISSIBLE ACCOUNT COMBINATIONS Account 4030140 and 4030150 are impermissible for use in fund 790, 840 and 841. The interfund transfer account 4030140 and 4030150 should not be used with funds 145 and 146. Only use 4030130 . Only use 4030130 as these funds are reported in AFRS as fund 145. 11

12. CONTINUED - IMPERMISSIBLE ACCOUNT COMBINATIONS Accounts for use in 4xx and 5xx funds only: 12

13. FUNDS 146 & 841 CHANGE IS SUBSIDIARY REPORTING OFM reporting rolls the following funds together 146 is reported as 145 841 is reported as 840 Accounts that require subsidiaries of due to/due from fund should use the following: Fund 146 should use subsid 145000 Fund 841 should use subsid 840000 13

14. ACCOUNT 1010170 & 2012040 Account 1010170 & 2012040 are cross walked to the AFRS system as 1353 and 5153. In accordance with the OFM: 14

15. QUESTIONS Do we have any questions? CC BY 4.0, except where otherwise noted.

16. OTHER SUPPORT & RESOURCES PeopleSoft GL Query BAR RESOURCES BAR SUBJECT MATTER EXPERTS 16