Report Preparation Guide

Statement of Revenue – Year End Report 4

Purpose

Report 4, Statement of Revenue will reconcile current year revenue recorded by the department with revenue recorded by the SCO as of June 30. The report will also list subsidiary revenue account balances, including accruals and adjustments.

Reference Documents

Job Aid FI$Cal.233 – Statement of Revenue Report 1.0 Final SCO/Agency Reconciliation Worksheet Report of Accruals, Report 1 Report of Adjustments to SCO Accounts, Report 3 SCO Year-End Financial Reports Procedure Manual (Budgetary/Legal) SAM section 7956 Chart of Accounts Crosswalk (Finance, FI$Cal Resources web page) Year-End Departmental checklist

How to Prepare

The Statement of Revenue is generated from FI$Cal. Follow the steps in Job Aid FI$Cal.233 to generate the report. Below is a summary of the criteria to run the report. Navigation: Main Menu FI$Cal Processes FI$Cal Report GL Reports Final Statement of Revenue Parameters: Fiscal Year, Accounting Period, Business Unit, and Fund Option. Click on the box “Include Adjustment Period(s)” to include the 998 adjustment period in the report.

How to Validate

Validate the completeness and accuracy of the Statement of Revenue:

1 - Review report header information, including the As of Date. 2 - Validate the BU and fund number and name. Only current year revenue

accounts should be reported. 3 - Adjustment Period 998 must be included in the report. 4 – Revenue account numbers and titles must be in UCM values. 5 – “Actual Revenues” account balances on the Report 4 are coming from

Commitment Control, CC_DTL_REV ledger and should reconcile to the Final SCO/Agency reconciliation worksheet.

6 – Revenue per SCO should reconcile to the Final SCO/Agency

reconciliation worksheet, “Balance per SCO, tab run” line amount or SCO tab run “Q” account balance.

7 - Accruals should reconcile to Report 1, Report of Accruals to Controller’s

Accounts (Form 571C). 8 – Adjustments should reconcile to Report 3, Adjustments to Controller’s

Account (Form 576B). 9 – “Total Fund” amount on the FI$Cal top section of Report 4 should match

with the “Total Revenue Per Statement of Revenue” amount on the SCO bottom section of Report 4.

Important

Notes/Tips

If revenue accruals appear to be overstated or incorrect on the Report 4, please review revenue transactions and journals to ensure that the correct radio button was used in the Commitment Control link. For example, during the year, you should post any SMIF interest revenues collected by SCO in the GL Module and select “Actuals, Recognize and Collect” radio button found in the Commitment Control link. If this button was not selected, the FI$Cal top section will not balance with the SCO bottom section on the Report 4. To correct these transactions, reverse your journals without “Actuals, Recognize and Collect” button selected and re-post transactions with “Actuals, Recognize and Collect” button selected. Please see Finance eLearning course GL5 – Record SMIF Interest for more information. In addition, when posting SMIF revenue accruals (A-6 Entry), keep journal default button as “Actuals and Recognized”. Accruals do not represent revenues collected. Refer to Finance’s Year-End Training-Session I materials for more information about year-end accrual entries.

For Departments that have Transfer In, when you generate Report 4, the Transfer In will be included on this report which will need to be subtracted from the “Total Fund” at the top section and also subtracted from the “Total Revenue per Statement of Revenue” at the bottom section.

Unremitted cash GL1110 for Revenues will not show up on the Report 4.

Unremitted cash will need to be added or Report 4 will be out of balance. Using the SCO/Agency Reconciliation worksheet, determine if there is unremitted cash for revenue and include it in the Report 4 “Accruals per Report of Accruals” amount.

Description

Miscellaneous Revenue

Settlements - Other

Donations

4321

TOTAL REVENUE PER STATEMENT OF REVENUE 610,929.06

ADJUSTMENT TO CONTROLLERS ACCOUNTS _______ 200.00

RECONCILING FACTORS:

ACCRUALS PER REPORT OF ACCRUALS 200.00

TOTAL REVENUE PER STATE CONTROLLERS OFFICE ACCOUNTS 610,729.06

Total Fund 610,929.06

RECONCILIATION OF STATE CONTROLLERS REVENUE WITH STATEMENT OF REVENUE, JUN, 30, 2018

163000 606,318.60

164900 3,500.00

Account Actual Revenues Total

161400 1,110.46

Fund : 4321 - Training Support Fund Run Date : 8/20/2018

Subfund: Run Time : 14:02:11

Enactment Year : 2017 Adjustment Period : 998

Fund 4321

Fiscal Year 2017-18

As of 06/30/2018

Business Unit : 1234 - Department of Training Report ID : RPTGL065

Department of Training - 1234

REPORT 4 - YEAR END STATEMENT OF REVENUE

1

23

4 5

9

6

7

8

9