Florida PALM Disinvestments Tips & Tricks
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Tips & Tricks for Disinvestments
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Reports the interest and administrative fees
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Reports the investment transactions and balances by
pool and participant
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Used to monitor trust fund balances and activity for
investments and disinvestments
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Tips & Tricks for Disinvestments
Determine the FLAIR account code associated with the
disinvestment
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Determine Florida PALM ChartField values that coincide with
the FLAIR account codes
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Determine the accounting information needed for the Florida
PALM entries
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Agency’s GL Journal Processor must input the
four lines of the disinvestment
Agency’s GL Journal Approver must review and
approve the disinvestments
Step-by-step instructions:
◦
Florida PALM End User Manual
◦
People First LMS:
PALM TECH - Agency GL Journal Processor
PALM TECH - Agency GL Journal Approver
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Total of four lines, two lines per fund
Two lines for Treasury Fund will ALWAYS be the same two
lines for each disinvestment
Debits must equal credits
Negative values must be input for credit side of transactions
Double check entries before submitting
Budget checking takes place upon final approval
Entries create a TR25 and TR45 in Central FLAIR
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Tips & Tricks for Disinvestments
$5,000
(Debit)
$5,000
(Debit)
Line 1: InterUnit
Cash Act.
#
1
0
1
0
1
3
Line 3: Return
Investment Fund
#
3
0
4
0
0
1
Line 4:InterUnit Cash
Acct.
#
1
0
1
0
1
3
Line 2: Pool 1 Disinv-
Treasury
#
1
0
4
0
0
1
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Central FLAIR remains the book of record for
Appropriations, Releases, Reserves, and Cash during the
CMS Wave
Pull and review reports to verify disinvestments
Agencies must verify the receipt of the TR45 in Central
FLAIR
Determine where the error was made, and which system
is out of balance
Map out corrections if they are needed
Florida PALM Report - GLR083 – Investment Activity
Report
Agency unique reports
RDS Central Standard Reports:
◦
CNPPPJT2 - Posted JT's by SWDN within Initiating
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CNPPPJT4 - Posted JT's by SWDN within Benefiting
WebFocus (MRE):
◦
CMPTTRN - shows all comptroller transactions
State Accounts Screen
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Reversal entries in Florida PALM must have four lines
The original journal date must be used when correcting
entries
When reversing an entry, flip the signs
Use the RED source code when applicable to adjust
investment balances in Florida PALM
Once reversed, reprocess the disinvestment
Disinvest to the same Fund and Budget Entity as the
original investment
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Departmental must be updated to reflect the
disinvestment
Agencies will process the receipt, TR96 in Departmental
Departmental should match Central
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C
ONTACT
US
F
LORIDA
PALM@
MYFLORIDACFO
.
COM
P
ROJECT
W
EBSITE
WWW
.
MYFLORIDACFO
.
COM
/
FLORIDAPALM
/
Tips & Tricks for Disinvestments
Explore valuable insights on Florida PALM disinvestments, including steps for initiating disinvestment, researching account codes, and inputting journal entries. Learn how to verify disinvestments and update departmental FLAIR efficiently.
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Presentation Transcript
1 Tips & Tricks for Disinvestments Florida PALM logo Florida PALM logo Tips & Tricks for Disinvestments 1/20/2022
2 Investing Agency Trust Funds Treasury Investment Pool Florida PALM logo Florida PALM logo Tips & Tricks for Disinvestments 1/20/2022
3 Reporting Tools - Investments GLR082 Apportionment Report: Reports the interest and administrative fees GLR083 Investment Activity Report: Reports the investment transactions and balances by pool and participant Used to monitor trust fund balances and activity for investments and disinvestments Florida PALM logo Florida PALM logo Tips & Tricks for Disinvestments 1/20/2022
4 Disinvesting Agency Trust Funds Treasury Investment Pool Florida PALM logo Florida PALM logo Tips & Tricks for Disinvestments 1/20/2022
5 How do we disinvest? 1 2 3 4 Do your research Initiate Disinvestment in Florida PALM Verify the Disinvestment in Central FLAIR Update Departmental FLAIR Florida PALM logo Florida PALM logo Tips & Tricks for Disinvestments 1/20/2022
6 Research Step 1 Determine the FLAIR account code associated with the disinvestment Tip: Disinvest to the same Fund and Budget Entity that the investment originated Determine Florida PALM ChartField values that coincide with the FLAIR account codes Tip: Can this information be used again? Determine the accounting information needed for the Florida PALM entries Tip: Which accounts should be positive and negative? Florida PALM logo Florida PALM logo 1/20/2022 Tips & Tricks for Disinvestments
7 Research Tips & Tricks Florida PALM logo Florida PALM logo Tips & Tricks for Disinvestments 1/20/2022
8 Florida PALM Entries Step 2 Agency s GL Journal Processor must input the four lines of the disinvestment Agency s GL Journal Approver must review and approve the disinvestments Step-by-step instructions: Florida PALM End User Manual People First LMS: PALM TECH - Agency GL Journal Processor PALM TECH - Agency GL Journal Approver Florida PALM logo Florida PALM logo Tips & Tricks for Disinvestments 1/20/2022
9 Florida PALM Entries Tips & Tricks Total of four lines, two lines per fund Two lines for Treasury Fund will ALWAYS be the same two lines for each disinvestment Debits must equal credits Negative values must be input for credit side of transactions Double check entries before submitting Budget checking takes place upon final approval Entries create a TR25 and TR45 in Central FLAIR Florida PALM logo Florida PALM logo Tips & Tricks for Disinvestments 1/20/2022
10 Accounting with Disinvestments Treasury Fund Agency Fund Line 2: Pool 1 Disinv- Treasury #104001 Line 1: InterUnit Cash Act. #101013 Line 3: Return Investment Fund #304001 Line 4:InterUnit Cash Acct. #101013 -$5,000 $5,000 $5,000 -$5,000 (Credit) (Debit) (Debit) (Credit) Florida PALM logo Florida PALM logo Tips & Tricks for Disinvestments 1/20/2022
11 Florida PALM Entries Florida PALM logo Florida PALM logo Tips & Tricks for Disinvestments 1/20/2022
12 Florida PALM Entries Florida PALM logo Florida PALM logo Tips & Tricks for Disinvestments 1/20/2022
13 Verification Step 3 Central FLAIR remains the book of record for Appropriations, Releases, Reserves, and Cash during the CMS Wave Pull and review reports to verify disinvestments Agencies must verify the receipt of the TR45 in Central FLAIR Determine where the error was made, and which system is out of balance Map out corrections if they are needed Florida PALM logo Florida PALM logo Tips & Tricks for Disinvestments 1/20/2022
14 Reporting Tools - Disinvestments Florida PALM Report - GLR083 Investment Activity Report Agency unique reports RDS Central Standard Reports: CNPPPJT2 - Posted JT's by SWDN within Initiating CNPPPJT4 - Posted JT's by SWDN within Benefiting WebFocus (MRE): CMPTTRN - shows all comptroller transactions State Accounts Screen Florida PALM logo Florida PALM logo Tips & Tricks for Disinvestments 1/20/2022
15 Florida PALM Corrections Tips & Tricks Reversal entries in Florida PALM must have four lines The original journal date must be used when correcting entries When reversing an entry, flip the signs Use the RED source code when applicable to adjust investment balances in Florida PALM Once reversed, reprocess the disinvestment Disinvest to the same Fund and Budget Entity as the original investment Florida PALM logo Florida PALM logo Tips & Tricks for Disinvestments 1/20/2022
16 Florida PALM Corrections Tips & Tricks Florida PALM logo Florida PALM logo Tips & Tricks for Disinvestments 1/20/2022
17 Florida PALM Corrections Tips & Tricks Florida PALM logo Florida PALM logo Tips & Tricks for Disinvestments 1/20/2022
18 Update Departmental Step 4 Departmental must be updated to reflect the disinvestment Agencies will process the receipt, TR96 in Departmental Departmental should match Central Florida PALM logo Florida PALM logo Tips & Tricks for Disinvestments 1/20/2022
19 We ve come full circle Invest Agency Fund Restored Monitor Investments Research Disinvestment Information Update Departmental Verify Central FLAIR Disinvest in FL PALM Florida PALM logo Florida PALM logo Tips & Tricks for Disinvestments 1/20/2022
20 Tips & Tricks for Disinvestments Florida PALM logo Florida PALM logo Tips & Tricks for Disinvestments 1/20/2022
21 CONTACTUS FLORIDAPALM@MYFLORIDACFO.COM PROJECT WEBSITE WWW.MYFLORIDACFO.COM/FLORIDAPALM/ Florida PALM logo Florida PALM logo 01/20/2022 Tips & Tricks for Disinvestments
