BAR meeting 1-29-15
1st had an informal meeting with our auditor to discuss major sources of revenue, cash receipts,
balancing and processes. Then we discussed how our financial statements were completed.
Financial Statement Template
SAO wanted to know how we validated that the template rec’d from SBCTC figures were accurate –
explained that we verified the balances with GA1409A and accounted for SMART manual adjustments
Fixed Assets
Sample from FMS Query – particular invoices relating to project. Since this was the first audit year, SAO
sampled buildings completed back in 2007 and forward. Provided original invoices which SAO was able
to tie to capital. We didn’t make copies, just provided originals which we received back. [luckily all of
our capital backup is filed by building which made pulling the invoices very efficient]
Proprietary fund guidance – walked auditor through the differences when booking assets for
governmental vs proprietary funds (SAAM 85.60.30)
CR2128 – detailed asset info from DATAX that ties to CR2128 summary by fund and commodity group
Payroll
Report PS1245 detailing the amount of wages posted to salaries expense (sample recon below)
Pay Cycle
PS1245
07A
371,338.60
07B
389,393.60
08A
381,228.10
08B
330,738.29
09A
323,995.05
09B
444,625.08
10A
617,662.71
10B
630,868.07
11A
618,309.98
11B
604,652.72
12A
612,268.16
12B
500,656.63
01A
601,585.02
01B
622,047.39
02A
619,710.08
02B
632,354.39
03A
618,637.86
03B
570,042.11
04A
604,751.26
04B
605,900.94
05A
604,657.01
05B
607,864.80
06A
732,576.08
06B
283,257.14
Accrued Leave Entry (5**)
12,929,121.07
GL Sub Obj A
Expense
371,338.60
389,231.60
381,016.10
330,507.29
323,863.05
444,472.08
617,616.71
630,704.07
618,072.41
604,397.72
612,060.16
500,624.63
601,441.02
621,976.39
619,600.08
632,044.39
617,584.86
569,925.11
604,594.26
605,761.94
604,459.01
607,722.80
732,339.08
283,207.14
(125.00)
12,924,435.50
GL Sub Obj GA/GF
(Payroll) Expense
162.00
212.00
231.00
132.00
153.00
46.00
164.00
185.00
255.00
208.00
32.00
144.00
71.00
110.00
310.00
1,053.00
117.00
157.00
139.00
198.00
142.00
237.00
50.00
4,508.00
Difference
Notes
52.57 Fund 840 payroll
125.00 See journal entry for detail
177.57
Revenue
Pell Grant / SNG sample: wanted to see cashiering envelope with wire receipt for particular draws
[sample taken from detail transaction info]
Running Start / SBCTC corrections sample: wanted to see cashiering envelope with check stubs from
payees
BAR meeting 1-29-15
Various FPS transactions – provided examples of enrollment transactions with various fee pay statuses
so auditor could be sure the system was calculating tuition correctly
Revenue Subledger Report (GA2109) – satisfied with this report which details Rev Src 0424 by fee code
and quarter
Scholarship Expense
Provided NACUBO guidance as basis for scholarship and allowance tool
SAO wanted to see how much scholarship expense related directly to Federal/State/Local Grant income.
Provided a pivot table by Org Code with revenue and expenses by Major Object (example below)
NA34 - NSF-ALT FUEL CERT PR
A: Salaries & Wages
B: Employee Benefits
C: Personal Service Contracts
E: Good & Services
J: Capital Outlays
N: Grants, Benefits & Client Svcs
T: Intra-agency reimbursements
Revenue
15,524.50
5,068.61
6,800.00
1,516.75
0.00
7,800.00
3,668.30
(40,378.16)
Board agenda / minutes
Requested approved board meeting agenda and minutes for FY they were auditing along with any
subsequent meetings that occurred after year end.
Problem rolling forward net position from FY 1213 ending balance to FY 1314 ending balance:
Net Position Rollforward Discrepencies (still discussing treatment of these items)
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CR2128 programming changes (IOTB <$100K): prior period adjustment (no SRECNP
adjustment) OR do “extraordinary adjustment” on SRECNP
Gov’t fund compensated absences: add Obj A & B expense to SRECNP
Equipment disposals with remaining NBV: add expense with GL 6597 to SRECNP
Src Rev 0863 COP discount/premium: not originally on template but added to SRECNP revenue
Appropriation receivable: reduce tuition revenue by total booked to fund 060 & 561 OR create
expense; create receivable/liability for difference actually due to/from treasurer accrued for in
June and rec’d next fiscal year