year end close workshop fye20: accounting operations year ... · note that the journal id will be...

CITY & COUNTY OF SAN FRANCISCO

Office of the Controller AOSD

Year End Close Workshop FYE20:

Accounting Operations Year End Guidance

and Deadlines

May 6, 2020

Questions & Answers

Departments may submit their year end questions through the MS Teams “Live Event Q&A” Feature

2

Workshop Logistics

Questions & Answers

• The questions will be consolidated into a “Frequently Asked Question (FAQ)” to be

uploaded to the Knowledge Center once all the workshops are completed.

3

Workshop Logistics

Slide Decks

• Individual Year End Workshop slide decks will be available on the Knowledge Center the

following day.

4

Agenda

Topic Speaker

Budget Carryforward Jane Yuan

Interdepartmental Services Jane Yuan

Expenses Reports Min Fang

Accounts Payable Accruals Jane Yuan

Accounts Receivable & Cash Deposits Jane Yuan

ChartFields Mildred Zaragoza

Grants Sally Chan

Gifts & In-Kind Donations Min Fang

Fixed Assets Kally Ip

GASB Updates & CAFR Dates Carmen LeFranc

5

Jane Yuan

Office of the Controller

Budget Carryforward

6

Budget

Budget Carryforward

• Budget Roll - FYE21 Continuing

• July 1 – July 3

▪ Continuing Fund

• Budget minus Actual

• Manual Carryforward - Annual Fund Only

• Requests due to AOSD August 28

• Process by AOSD September 18

7

Vouchers Related to Closed Annual Fund POs

Steps to take for voucher payments related to closed annual fund POs:

1. Recreate Purchase Orders in FYE21 and reference the FYE20 PO ID in the PO Reference Field

2. Vouchers for FYE20 expenditures must be manually accrued – Refer to AP Accrual Section for

more details

3. If Department has no FYE21 Budget, use alternative Funding Source to pay.

4. Request Manual Carryforward by August 28

5. Process $0 Voucher to properly classify the expenditure to the correct Funding Source once the

Manual Carryforward process is completed Sept 18

Interdepartmental Services (Work Orders)

• Performing Departments Submit Billings (bill actuals up to Qtr 3)

• June 15

• Requesting Departments Complete Approval of Billings (bill actuals up to Qtr 3)

• June 22

• Controller’s Office Finalize Unresolved Workorders (bill actuals up to Qtr 3)

• June 25

• Performing Departments Submit Billings (bill actuals up to Qtr 4)

• August 7

• Requesting Departments Complete Approval of Billings (bill actuals up to Qtr 4)

• August 14

8

IDS (Work Orders)

9

IDS – General

Month 13 IDS (Work Orders) Billing Entries

• Add all related documents (both requesting and performing) in the long description

• Performing department should process work order billings as usual. Requesting departments must

submit FYE21 budget adjustment if continuing fund.

Performing Department

Responsible Dept for

Entry

Fiscal

Year

Fiscal

MonthEntry Module

Auto

ReverseSource Line Journal Class *Ledger Account Account Description Fund Dept Authority Project Activity An Type Amount Note

Performing Dept 2020 13 1 GL No Perf Dept 1 YEACCRADJ ACTUALS 581xxx IDS Account xxxxx

Requesting

Dept Code xxxxx xxxxxxxx xxxx GLE 10,000 581 Charges

Performing Dept 2020 13 1 GL No Perf Dept 3 YEACCRADJ ACTUALS 486xxx Recovery Account xxxxx

Perf Dept

Code xxxxx xxxxxxxx xxxx GLR (10,000) 486 Recovery

Performing Dept 2020 13 1 GL No Perf Dept 2 YEACCRADJ ACTUALS 100005

Inter-IntraUnit

Cash Balancing xxxxx

Requesting

Dept Code xxxxx xxxxxxxx xxxx BAL (10,000) Cash Balancing line

Performing Dept 2020 13 1 GL No Perf Dept 4 YEACCRADJ ACTUALS 100005

Inter-IntraUnit

Cash Balancing xxxxx

Perf Dept

Code xxxxx xxxxxxxx xxxx BAL 10,000 Cash Balancing line

Responsible Dept for

Entry

Fiscal

Year

Fiscal

MonthEntry Module

Auto

ReverseSource Line Journal Class *Ledger Account Account Description Fund Dept Authority Project Activity Bud Ref Amount Note

Requesting Dept 2021 1 2 KK N/A Req Dept 1 YEPOSTROL CC_Detail 581xxx IDS Account xxxxx xxxxxx xxxxx xxxxxxxx xxxx 4 (10,000)

- FYE 21 budget

adjustment

- For Continuing Fund

only

Requesting Department

10

IDS – COVID-19

11

IDS – COVID-19

Next steps…

12

Min Fang


Expenses

13

Expenses

Expenses

Employees should submit their Expense

Reports (ER) early!

City policy is to submit ER within 30 days

of travel/training/field expense.

• FYE20 Expenses module closes at 5:00 PM on June 26; FYE21 Expenses module opens on July 4

• The deadline for final approval of FYE20 ERs that need to budget check and post in FYE20 is

5:00PM on June 26

• FYE20 ER that are submitted but not fully approved by June 26 5:00 PM will be “sent back” on

that day, requiring the employee to resubmit the ER after July 4 (and use FYE21 budget).

However, no accrual is required due to immateriality.

14

Expenses

Expenses

*Because of the mismatch in budget date and accounting date, FYE20 ERs that are submitted but not fully approved by June 26 5:00 PM will be “sent back” on that day. Employees will need to resubmit ERs on or after 7/4.

**Will be using FYE21 budget

15

Expense Reports (ER) Impact on KK & GL at FYE20 Year End

Expenses

Employee Submit

HR Supervisor Approval (1st

Approval)Expense Manager Approval (2nd Approval) KK GL

<= 6/26 <= 6/26 <= 6/26 FYE20 FYE20

<= 6/26 <= 6/26 >=7/4 FYE20* FYE21*

<= 6/26 >=7/4 >=7/4 FYE21** FYE21

>=7/4 >=7/4 >=7/4 FYE21** FYE21

• ER and CA fully approved by 5:00 PM on Friday, June 26 will be paid on June 30, 2020

• System will not be available for ER and CA submission or approval between June 27

and July 3

• ER and CA fully approved between July 4 and July 10 will be paid on July 14, 2020

16

Expense Report (ER) and Cash Advance (CA) Payments

Expenses

Cash Advance and Expense Report Final Approval

Employee Receipt of Cash Advance/Expense Report Payment

June 20 – June 26 June 30

June 27 – July 3 System not available for ER or CA

July 4 – July 10 July 14

17

Expenses

Travel Authorization

• All FYE20 travel authorization that have not been expensed against by

June 26 will be closed

18

Expenses

DHR Tuition Reimbursement

• Friday, July 10th - Employees to submit FYE20 tuition-related expense

reports

• Friday, July 17th - HR Supervisors to approve FYE20 tuition-related

expense reports

• Friday, July 24th - Expense Managers to approve FYE20 tuition-related

expense reports

• Monday, July 27th - Any FYE20 tuition-related expense reports not

approved by Expense Managers will be canceled

19

Jane Yuan


Year End A/P and A/R

• PO related vouchers must be budget checked and fully approved by Thursday, June 25

• PO related vouchers not posted by June 25 will be deleted

20

PO Related Vouchers

Accounts Payable

Non-PO Related Vouchers

• All other vouchers (Direct Payments, $0 Vouchers, etc.) must be budget checked

and fully approved by Monday, June 29

Payments

• Last Pay Cycles for Check and ACH are on 6/29/20; will pay vouchers with

Scheduled Due dates up to 6/30/20

FM01-12 in the Accounts Payable module will

close Monday, June 29th at 5:00 PM

• Mayor announced deferral of FYE21 Business Tax Registration from 5/31/2020 to

9/30/2020

• CON and TTX are working on the system update. Users will soon see “9/30/2020” as

the “Certificate Expiration Date” for suppliers who paid FYE20 Business Tax but

haven’t renewed for FYE21

• Vouchers to these suppliers processed before 9/30/2020 will not run into match

exceptions

21

Business Tax Registration Renewal Extension

Accounts Payable

22

June 23, 2020

June 23, 2020May 23, 2020

June 2020 Invoice Date: June 23, 2020

Work Performed: May – June 2020

Date Invoice Received: July 12, 2020

Amount:$107,017

Accounts Payable

What To Do

With This

Invoice?

23

A/P Accruals

• Vouchers processed in FYE21 will require expenditure accrual if they

are for goods or services received on or before June 30

• If invoice for FYE20 expenditures will not be received by August 14,

post accrual entries in FM13 Actuals Ledger without a supporting

voucher ID by August 14

Accounts Payable

• Expenditures that need to be accrued will generally fall into one of two categories. This will

determine whether the entries will be processed by the Controller’s Office or the Department.

24

Accruals

Accruals

Expenditures Paid Through PO Vouchers

1) Accrual Entry in FM13 in FYE202) Budget Reduction Entry in FYE21

Entries: CON*

Expenditures 1) Not Paid2) Paid through Non-PO Vouchers3) Paid through FYE21 PO vouchers

1) Accrual Entry in FM13 in FYE202) Budget Reduction Entry in FYE21(Continuing Fund only)

Entries: DEPT

* Exceptions: refer to the next slide

25

* Exceptions on CON Central Accruals

Accruals

• All FYE20 AP interface files from 6/29 noon through 7/3

• Since AP module is closed after 6/29, these files will be recorded in FYE21 in GL

• Departments process accrual entries for these interface files

• FYE21 PO vouchers for FYE20 expenditures:

A. Through interfaces (i.e. with Origins other than ONL or UPL)

and through eSettlement

• Departments process the accrual entries (and the budget

entries if continuing fund)

B. New POs created in FYE21 (e.g. POs re-created in FYE21 for the annual fund PO closed) or PO lines

added through change order to a rolled PO from FYE20

• Departments process the accrual entries (and the budget entries if continuing fund)

C. Unposted, reposted, or closed in FYE21

• Departments correct the accrual and the budget entries centrally processed by CON

D. That departments processed $0 Vouchers to correct ChartField in FYE21

• Departments correct the accrual and the budget entries centrally processed by CON

The Controller’s Office will centrally

process entries (FYE20 accrual and FYE21

budget adjustment) for PO related

vouchers posted to GL through 8/13/20*

26

Expenditures Paid through PO Vouchers

Accruals

* Exceptions: refer to the previous slide

• For all FYE20 invoices, Departments must do the following:

• Set Accounting Date to 07/04/2020*

• Attach the FYE20 invoice as supporting documentation

27

Accrual Entry - CON

What do we need from Departments?

Automated AP Accrual Entries by CON

* Vouchers with Origin other than ONL or UPL will be excluded from the CON central accrual

Company_A_-_FYE20_Invoice.pdf Company A FYE20 Invoice

28

What will Controller’s Office do?


Accrual Entry - CON

FYE20 GL Journal Accrual Entry

• Post to FM13 Actuals Ledger

• Journal ID begins with YAPXXX (XXX = Dept Character).

o Note that the Journal ID will be same as FYE19’s. To view the accrual documents, search by

Journal ID plus correct accounting date (i.e. 6/30/2020 for FYE20 accruals and 7/1/2020 for

FYE21 reversal).

• Journal Class: YEAPACCR

o Note that this is reserved for CON accrual entries; depts should not use this journal class

• Journal Source: YAO

o These accrual journals will not be routed to departments for approval. Departments should not

use this Journal Source for any journal entries

• Journal Line Description = Voucher ID & Voucher Line

& Voucher Distribution Line & ‘-’ & Amount

• Reference Field in the journal line: PO ID

29

What will Controller’s Office do?

FYE21 Budget Journal Adjustment Entry

• Post to FYE21

• Journal ID begins with KAPXXX (XXX = Dept Character)

▪ Note that the Journal ID will be same as FYE20 budget adjustments for FYE19’s AP accrual.

To view the budget journal, search by Journal ID plus correct accounting date (e.g.

7/31/2020 for FYE21 adjustments).

• Journal Line Description: YAP Accrual journal ID & ‘-” & 2020-06-30

Accrual Entry - CON


30

Expenditures Not Paid, Paid through Non-PO Vouchers,

and Paid through FYE21 POs

Accruals

Departments will be responsible for

processing the accrual entry (and budget

adjustment, if continuing fund)

31

Manual AP Accrual Entries by Dept

Accrual Entry - Department

(1) Prepare the FYE20 GL Journal Accrual Entry

Add a New Value

• Journal Date: 06/30/2020

32



Click “OK” to System Message

After clicking “Add”, the User will encounter a system

message

User should click “OK” to

proceed to the Journal

Header

v v

06/30/2020

33



Journal Header

• Ledger Group: Actuals

• Adjusting Entry: Adjusting

• Period: 13

• Journal Class: YEPOSTROL

▪ Do not use YEAPACCR

Prepare FYE20 GL Journal Header

06/30/2020

2020

06/30/2020

34


Click on the “Reversal: DO Not Generate Reversal Link


35


Click on the “Beginning of Next Period” and press OK

The journal entry will automatically reverse in FM01, FYE2021


36


Make sure to put “No PO” in the Reference field of the Journal Lines

If paid through a non-PO voucher, put the Voucher ID in the Journal Line Description


Add a New Value

• Journal Date: 07/01/20

37


(2) Prepare the FYE21 Budget Adjustment (Continuing Fund ONLY)

Manual Budget Adjustment Entries by Dept – Continuing Fund Only

38


Budget Header

• Ledger Group: CC_Detail

• Entry Type: Grant and Other

Original

Budget Header


07/01/2020

FYE21 Budget Reduction for Non-PO FYE20 Accrual

2021

39


Budget Lines

• Budget Ref: 4 (Continuing

Carryforward)

• Reference: Accrual Journal ID

• Journal Class: YEPOSTROL

The budget lines must include the following:


40


Additional Guidance:

• Accrual journal entries should always be separated by Continuing Fund vs

Annual Fund

• Entries should not have lines with both types of funds

• Accrual journal entries for Continuing Fund must be paired with a

FYE21 budget adjustment entry

41

A/R Accruals

• Revenue Accruals

• Goods or services delivered on or before June 30, 2020

• Cash not received until on or after July 1

• All accrual entries must be posted in FM13 Actuals Ledger by

August 14, 2020

Accounts Receivable

42

Revenue Accrual

Revenue Accrual

Revenue accrual journal entry:

• To record the revenue and receivable (e.g. Account 100029) in FYE20 and;

• To reverse in the first period of FYE21 using the auto-reversal function in the system

*See previous AP accrual slides for detailed procedures on accrual entries with auto reversal

43

Cash Deposit

Job Aid

Accounts Receivable: Processing Deposits and Payments

https://sfemployeeportalsupport.sfgov.org/support/solutions/articles/11000022734-accounts-receivable-processing-deposits-and-payments

Accounts Receivable: Correcting COA on Posted Payment

https://sfemployeeportalsupport.sfgov.org/support/solutions/articles/11000026214-accounts-receivable-correcting-coa-on-posted-payment

Accounts Receivable

https://sfemployeeportalsupport.sfgov.org/support/solutions/articles/11000022734-accounts-receivable-processing-deposits-and-payments

https://sfemployeeportalsupport.sfgov.org/support/solutions/articles/11000026214-accounts-receivable-correcting-coa-on-posted-payment

44

Cash Deposit

When cash is received in FYE21, input 07/01/2020 or after for Accounting Date for Deposit.

Accounts Receivable

45

Mildred Zaragoza


ChartFields (COA – Chart of Accounts)

Last day to request for ALL ChartField values (GL Account, Fund, Dept, Authority, TRIO, Agency Use) and Project and Project Activity codes.

• FYE20 codes – Friday, July 31, 2020

➢ Please send requests to the ChartField Admin Inbox: [email protected]

❖ Exceptions: New Department code requests must be sent directly to your contact at

the Controller's - Budget and Analysis Division (BAD) after pre-approval from Mayor’s

Budget Office (MBO). BAD will coordinate with our team for approval from AOSD

Team.

• FYE21 Interim Budget codes – Wednesday, May 13, 2020

➢ ChartField effective date will be 07/01/2020.

➢ Please coordinate your BY and BY+1 requests with MBO, and BAD will coordinate with our

team as usual.

46

Deadlines

ChartFields

mailto:[email protected]

ChartField requests coordinated through Budget and Analysis Division (BAD)

1. New Fiscal Year’s budget codes for inclusion in the budget process – for proper set up and

prioritization to meet deadlines.

2. Department code requests (new and/or name changes) pre-approved by the Mayor’s Budget

Office (MBO) – to review and determine impact on budget process, etc.

Please email your contact at BAD directly. BAD will coordinate all requests with our team for AOSD

Team approval.

47

Updates:

ChartFields

1. All project codes must have the owning Department ID for reporting purposes.

• Blank Department IDs (Organization Code) in Project codes exist-- mostly due to project

codes (or “grants”) created automatically in the Grants module.

➢ Please reach out to your Project Processor/Maintainer to complete the Organization Page in

Project Costing module.

48

Reminders:

ChartFields

2. Continue to complete the Interest Allocation Mapping Form for each new fund

• The form is available within the Fund tab.

• Completely identify the “FROM” (where the cash is) and the “TO” (where the interest earnings

should be posted).

49

Reminders:

ChartFields

Interest Allocation Mapping continued…

• If there’s NO Project code and NO pooled cash in the new fund yet:

Provide a placeholder code for all required ChartField value and notify the Cash

Reconciliation Unit as soon as the information is available or before the first interest

calculation is run on the new fund.

• For questions or assistance with filling out the form, please contact:

Jimmy Huang: [email protected]

Terence Chow: [email protected]

50

Reminders:

ChartFields


3. The Accounting Date of your transactions has an impact on ChartField Effective Dates

• The effective date of the ChartField is taken directly from your ChartField Request Form.

• The ChartField will only be valid (or available) for documents where the Accounting Date is the

same or later than the effective date of the ChartField (ie. journal entries, POs, Change Orders).

4. Refrain from using special characters in your descriptions, ie # < > ! ? $ % # @ comma,

apostrophes etc.

• This causes issues in HCM (People and Pay) especially on Department Description field.

5. The latest file with the ChartField Request Forms is available in SF User Support.

51

Reminders:

ChartFields

52

Reminders:

ChartFields

6. New ChartFields (Chart of Accounts) Creation Process once a request is received:

For questions and concerns, please email [email protected].

1 Ticket ID Assignment Assigned by the ChartField Admin (not Fresh Service).

2 Review Process Submitted forms are reviewed for completeness, not a duplicate, justified etc.

Requester is contacted for questions and clarifications, if needed.

3 Approval Workflow Request is sent to approvers: one or two-step approval from Fund Accountants and/or

CAFR Team based on the ChartField requested.

4 Code Creation Once approved, codes are created in PS accordingly and attached to the respective Trees

5 Notification Notification is sent to the requester their code is ready and available in PeopleSoft


53

Sally Chan


Grants

54

Grants

Active Grants

Capture all reportable grants expenditures• Do not record prepayments or estimates as grant expenditures

• Pay attention to activities performed and goods received close to June 30 cutoff, e.g. review invoices

received July thru August

• Identify unrecorded accounting transactions and book necessary entries

Recognize all reportable grant revenues• Complete all grant billings or drawdowns

• Reconcile revenue and receivable accounts, process revenue adjustments

• If cash for grant revenue not received by August 31, record deferred inflow of resources.

Grant balancing: revenue=expenditures, budget=>actuals

55

Grants

Project Costing -

Check the “Grants Project” and update the “Project Type “

Active Grants

56

Grants

Award Profile –

• Update the “Award Type”

field from TBD (default

value) to the appropriate

award category

• If federal pass-through

grant, update Reference

Award Number with

Federal Pass-through ID

Active Grants

57

Grants

Customer Contracts -

The “Contract Type” field defaults to

“GRANTS”, which allows departments to

manually recognize revenue to the General

Ledger

The “GRANTSAUTOBILL” option facilitates

daily revenue recognition when

departments are ready to bill through the

Billing module

Active Grants

https://sfemployeeportalsupport.sfgov.org/support/solutions/articles/11000048399-grants-management-change-contract-type-to-activate-deactivate-automated-billing-for-grants

Job Aid: Grants Management - Change Contract Type to Activate /

Deactivate Automated Billing for Grants

https://sfemployeeportalsupport.sfgov.org/support/solutions/articles/11000048399-grants-management-change-contract-type-to-activate-deactivate-automated-billing-for-grants

58

Grants

Active Grants

Year end tasks

Post as much actuals as you can

• On or before June 25, 2020 for PO vouchers

• On or before June 29, 2020 for any vouchers

Complete grant billing in the billing module by June 30

• Labor PPE through June 12

• Non-labor through June 29

59

Grants

Active Grants

Year end tasks

Refer to the Open/Close Module table for FYE20 FM 01-12 closing dates

FYE2020 GL fiscal month 13 actual ledgers open July 4 – August 14

• Grant Revenue and Expenditures accrual and reallocation entries (see previous slides on YE

accruals)

• Adjust FYE21 budget

Single Audit questionnaires is due on May 15, 4th quarter grant reconciliations is due on July 24, and

3-column is due on August 31, 2020

• Validate all grant expenditures and revenue amounts in the General Ledger

• Reconcile GL to source module and identify differences

• Provide sufficient explanation along with documentation

60

Grants

Inactive and Expired Grants• Grant has expired and no extension is made

• Grant funds are fully utilized and incurred costs are fully recovered

• Encumbrances are fully liquidated

• Financial reports are submitted to funding agencies

• Final reconciliation is done and all adjustments to the grant are completed

• Reconciled actual revenues and expenditures

• GL asset and liability accounts are zero

Prepare inactive and expired grants for closeout• Complete transactions in all modules and ensure no pending items exist

• Close out remaining grant budget with a budget journal entry in the Commitment Control Module

• No offsetting balances; balance down to the chart-field string level in operating and GL

• Identify the grant contract in the Contract Module with a “Closed” status, no more billings can be run

61

Grants

Grant Closeout Report The BI Team is currently developing a report to show budget and GL balances for the closeout project

with all activities

62

Grants

Grant Pending Transaction Report

The FSP Functional Team is developing a report to show any pending transactions in any submodules for the closeout project

63

Auditor Document Requests and Fieldwork

Standard Document Request from External Auditor

• Grant Reconciliations including federal expenditures per CFDA, federal revenue per CFDA, and

federal expenditure per claims for single audit programs

• Fiscal and Programmatic Reports including reimbursement requests, cash transaction reports,

draws and contributions

Grant Reconciliation Report

• Validate all grant expenditures and revenue amounts to source documents

• Reconcile all grant asset and liability accounts

• Ensure all charges to grant funds are based on actuals and not estimates

64

Auditor Document Requests and Fieldwork

Prepare Auditor Requests and Fieldwork

• Materials organized with layout and file names referenced to Auditor Requests

• Source Documentation available, supporting operating actual revenues and expenditures

• Validation is traceable and properly documented

o Source Module to General Ledger

o Supporting Documentation (invoices, checks, purchase orders, etc.)

• Documentation on policies and procedures available, supporting existing controls and the use of

the financial system

65

Single Audit Reporting

KEY POINTS:

1. Include all expenditures of federal assistance received directly from the Federal Government or passed through other non-federal agencies

2. All programs reported should be identified by Catalog of Federal Domestic Assistance (CFDA) numbers

3. Expenditures are to be reported on an accrual basis

4. Report all expenditures incurred for the fiscal year ended June 30, 2020, even if they were claimed and/or reimbursed subsequent to year-end

5. Report all amounts passed through to subrecipients of the City during the fiscal year in the subrecipient section of schedule

6. The department should maintain supporting documents for the external auditors’ review to support the amounts reported and to show that such amounts agree to the general ledger

66


Count of Federal Programs Audited : 14

Federal Award Findings and

Questioned Costs : 0

67

Link for Single Audit Reports: http://openbook.sfgov.org/


http://openbook.sfgov.org/

68


• Used by external

auditor to determine

the nature and scope of

the tests required to be

performed

• Please complete and

return to AOSD by May

15th, 2020

69

Grant Audit

Auditor Request for Information – Single Audit Point Development Worksheet

70

Grant Audit

https://www.ecfr.gov

https://www.ecfr.gov/

71

Grant – COVID-19 & the CARES Act

Federal Funding Related to

COVID-19

• CARES Act (Federal stimulus

funding) – new fund codes

have been set up; process

grants through the usual

procedure, but make sure to

record under these fund codes

• Other Federal funding for

COVID – contact your fund

accountant

72

Min Fang


Gifts & In-Kind Donations

73

Monetary Donation

Cash Donations to General City through Give2SF

• Initial recording of revenue:Record in Fund 14820 (Gift Fund) Dept 228856 (ADM Admin) Authority 10001 Project 10036286 (ADDR SF Disaster COVID19) and the appropriate Activity Code• Activity 0001: Unallocated donations• Activity 0002: Assistance to Individuals & Families• Activity 0003: Assistance to Small Businesses• Activity 0004: Public Buildings, Infrastructure & Assets for Emergency Response

• Disbursement of funds (so far to OEWD, HSA and MYR):Process budget & actual transfersFrom: Fund 14820 Dept 228856 Authority 10001 Project 10036286 Activity 000XTo: Fund 14820 Dept XXXXXX Authority 10001 Project 10036286 Activity 000X

• Authority for Give2SF Spending:Admin Code Sec 10.100-100 & Second Supplement to Mayoral Proclamation Declaring the Existence of a Local Emergency issued on March 13, 2020

74

Monetary Donation

Cash Donations Specified to Be Used by a City Dept

1. Record both revenues and expenditures in Fund 14820 Dept XXXXXX (the specific department’s dept code) Authority 10001 Project 100XXXXX (a new COVID Donation related project code)

2. Naming convention for the new Project Code Description: must include XXXDR-COVID 19 (XXX = 3-char dept code) and be within 30 characters, e,g. “DPHDR-COVID 19-UCB Epidemiology”

3. Open a ticket at SF Employee Portal with the subject line “COVID Donation Project Code to Include in BI Donation Dashboard” to ensure that the newly created project code is captured in the BI Donation dashboard

75

In-Kind Donation

In-Kind Donations – General Guideline

• In-kind donations are gifts of goods or services that are not capital assets

• Departments must maintain documents including but not limited to:• Item description • Quantity• Value of donation• Mechanism of donation valuation• Date of receipt & distribution• Donor name & contact information

• Need to be recorded in PeopleSoft and reflected in financial reports

• If material or • If the underlying source of the donation is a governmental grant or program

76

In-Kind Donation

In-Kind Donations – Pending Items

• Materiality threshold – varies depending on size of reporting unit; generally similar to year-end accrual threshold

• Valuation – acquisition value. COVID-19 creates huge price fluctuation. What price should be used to determine the fair market value?

• Ledger to record in – Actuals Ledger? CAFR Ledger?

• Account Codes to use – Dr. 54XXXX or 52XXXX, Cr. In-Kind Contribution?

• Board approval – Accept & Expend needed?

Contact your Fund Accountant before recording any in-kind donations in PeopleSoft

77

Kally Ip


Fixed Assets

78

Fixed Assets - Best Practices

• Asset Ownership

• May have different performing and owning departments

• Ownership is typically determined by department that maintains the asset

• Not necessarily the department performing the maintenance work

• Department that budgets/pays for the maintenance work

79


• Disposals

• Items that are identified as sold, traded-in, scrapped, abandoned, lost, or otherwise removed from service during a period, should be disposed of.

• PeopleSoft disposal types: static in the system

• Disposal documentation is required for audit purposes

• Federally funded equipment – additional disposal requirements

80


• Land or Donated Assets

• Identify by reviewing BOS resolutions

• Donated assets recorded at Fair Value (appraisal)

• Receiving department records directly in Asset Management and notify CON

81


• Asset Transfer and Jurisdictional Transfer

• Identify by reviewing MOU or BOS resolutions

• Contact CON for more instructions

• Use the transfer function in Asset Management module

82


• Internally Developed Software

• May be purchased from 3rd party, but require more than a “minimal incremental effort” to use as intended

• Software licenses typically not capital

• 3 Phases of Development

• Preliminary Project Stage – not capital

• Application Development Stage – capital

• Post-Implementation/Operation – not capital

• Asset Management will be unavailable: July 1, 2020 –August 16, 2020

• Expenditure accruals and abatements processed in FM 13 during AM blackout

• After expenditure accruals completed, AM will re-open for processing & review

• Depreciation and Accounting entries will be run on September 5, 2020

83


84

YE Timeline – Pre-YE Tasks

The following tasks can be started before year-end (July 1, 2020):

• FYE19 Asset Management cleanup

• Identify and process FYE20 disposals

• Relate project activities to asset

• Identify completed CIP projects and begin to recategorize

• Equipment additions through March 31, 2020 . Land or building purchases to be added manually

85

YE Timeline – AM Blackout Tasks

The following tasks can be done during the AM blackout(July 1, 2020 – August 16, 2020):

• Identify fourth quarter equipment additions from CON Query

• List sent by CON to departments

• Process expenditure accruals and abatements in the GL

• Identify non-capital costs in capital projects (haz mat, demolition, etc.)

86

YE Timeline – AM FYE20 YE Tasks

The following tasks must be completed between August 17, 2020 -September 4, 2020:

• Departments process CIP and other asset adjustments

• Manual additions for Equipment, Building or Land assets

• CON inputs fourth quarter Equipment assets on behalf of departments

87

Asset Management Cleanup Completed

• 0 useful life assets with depreciation issues – caused by conversion

• Budgetary Only ChartField cannot be pushed to the GL – caused by manual entries into AM

• System fully depreciated an asset – caused by retiring and reinstating the asset multiple times

• CIP with depreciation calculated but not pushed to the GL – caused by CIP being marked as ‘depreciable’

• Negative depreciation amounts – caused by adjusting out costs for an asset

• Out of balance retirement entries – caused by zeroing out costs before retiring an asset

• 100005 entries are reversed

• Retire converted CIPs with $0 value and no activities

88

Asset Management Cleanup In Progress

Clean-up Progress

Recategorization errors with some converted CIP

CIPs were identified and are being adjusted

Non-financial information data input needed for departments

Updated equipment input sheet. Also, worked with individual departments to determine best next steps to update in AM

Departments requested a report to reconcile GL and Project Costing for capital projects

Creating a query to aid in the reconciliation from GL to PC, currently testing with departments

89

Frequently Used Queries for YE Closing and Reporting

Query Name Query Description Filters

FSP_GLAM_PC_SUMMARY List all projects by owning department within a fiscal year range

• Can be run by project owning

department

• Analysis Types: ACT, GLE, PAY,

MND, MNR

CONAOSD_PC_PROJECT List project cost information by analysis type within a time range

• Analysis Types: ACT, GLE, PAY,

MND, MNR

CONAOSD_ASSET_ACTIVITY_BY_DEPT Pulls all asset cost information within Asset Management within a time range

• Can be run by department

CONAOSD_ASSET_INFORMATION Pull all asset information including: in service date, asset status, useful life


CONAOSD_AM_ASSET_ROLLFORWARD Asset roll forward cost information from Asset ManagementNote: Can query only one fiscal year at a time

• Run by Asset ID

• Run by Fund Description

CONAOSD_ACCUM_DEPR_ROLLFORWARD Accumulated Depreciation roll forward information from Asset Management Note: Can query only one fiscal year at a time


CONASOD_AM_FOOTNOTE_7_NEW Displays asset roll forward information • Can be run by department

90

Carmen LeFranc


GASB Updates & CAFR Dates

91

GASB 87 Leases

Lease Population

• 26 departments responded • Population as of March 2020• Total leases 3,319o Lessees 1,122o Lessors 2,197

DEPT Lessee Lessor Total Lease

ADM 79 25 104

ADP 7 7

AIR 26 164 190

ART 3 3

ASR 5 5

CTA 5 1 6

DAT 1 1

DBI 32 32

DEM 13 13

DPH 445 13 458

DPW 95 1 96

HOM 13 13

HRD 5 5

HAS 1 1

HSS 8 8

LIB 15 1 16

LLB 1 1

MTA 100 308 408

MYR 54 54

POL 160 160

PRT 10 1,248 1,258

PUC 76 377 453

REC 1 2 3

SFPD 1 1

SHF 8 8

TIS 13 2 15

Total 1,122 2,197 3,319

92

• CON has been working with departments to perform the 1st

level of data review for accuracy and consistency check• 227 samples selected and collected 73• Contact departments for the remaining 154 • Departments to update lease data as of 6/30/2020• CON will communicate with departments to provide more

details and instructions late May or early June

GASB 87 Leases

What We Need For Year End FY20

93

• Identify department or citywide contract(s)• Determine lease and non-lease components• Identify department’s commitment on lease portion• Examine department payments for a blanket contract on lease

portion• Calculate outstanding commitment/obligation for a blanket

contracts on lease portion at year-end (June 30)

GASB 87 Leases

Blanket Contracts

94

GASB 84

• Updates• Definitions of fiduciary activities• Financial Reporting for fiduciary funds

• Possible for funds to become fiduciary, or fiduciary funds to change to a different type of fund

• Current Agency funds:• Will mostly become “Custodial Funds”• Custodial funds require a statement of changes• Departments will need to change how they record transactions• Some may be converted to other fund types

• Implementation: presumptively postponed until FYE21

• Transactional changes starting in July of 2020

• AOSD staff will contact you with any changes needed

FYE20 Financial Statements

• Enterprise/Fiduciary Draft Financial Statements Due No Later Than

• October 2

• Final Enterprise/Fiduciary Financial Statements Due No Later Than

• October 23

• CAFR Issue Date

• November 27

95

FYE20 Key Dates

96

Closing Remarks

Upcoming YE Workshop Sessions

Date/Time Topics

Wednesday, May 6, 2:00pm – 3:30pm Single Audit / Uniform Guidance

Thursday, May 7, 11:00am – 12:00pmRequisitions and POs

OCA Purchasing Guidance

year end close workshop fye20: accounting operations year ... · note that the journal id will be...

Documents