GASB Reporting Using Attributes April 29, 2013 WHAT IS OUR GOAL? Enable the utilization of GASB Reporting from the Banner Finance module to develop financial statements that comply with Statement Nos. 34 and 35 of the Governmental Accounting Standards Board (GASB). We will look at: - Benefits/Caveats - Steps to use attributes for GASB reporting - Banner Screens - Examples of Financials BENEFITS Pulls financial data directly from Banner. Financial statements are consistently reported, due to less manual manipulation. Shortens time to complete statements. CAVEATS Your Chart of Accounts will dictate how easy it is to convert to GASB Reporting. Attributes tags are applied retroactively. You can apply reclassifications in Banner, but I would recommend any reclassifications be external in Excel. STEPS TO USE GASB REPORTING Creating the attribute framework of your financial statements Mapping chart elements to these attributes Associate fund types, fund codes, account types, and program codes to an attribute type and value. Extract GASB Data Create GASB Statements Reclassify Data (Recommend Externally to Banner) Monthly maintenance and review of attribute associations PRE-BANNER WORK I became extremely familiar with our financial statements and how our accounts/etc. rolled up to items. Identify all the lines on your financial statements and all the items that need those tags. A bonus to this project was I was able to clean up the financial statement presentation because of the depth of review. ATTRIBUTE SET-UP FORMS FTMATTS – Attribute Type Sets Maintenance Form (Not Covered in This Presentation) OR FTMATTT – Attribute Type Maintenance FTMATTV – Attribute Value Maintenance FTMFATA – FOAPAL Attribute Association FTMATTT FTMATTT contains the individual attribute types. For College financials, use attributes that start with G5. This screen also shows what part of the FOAPAL is used to tag a financial item to that line. FTMATTV Attribute Type – Major Financial Statement Category Attribute Value – Subcategories FTMFATA This form allows you to associate accounts (etc.) to a GASB attribute type and value. Tri-C used this screen to tag accounts, account types, fund types and programs to financial statement lines defined in FTMATTV. NOTE: CANNOT SORT BY FUND TYPE AND THEN ACCOUNT FTMFATA (CONT.) o Once you choose the FOAPAL element you want to tag, choose under options – Select Attribute types to associate with FOAPAL elements – FTQATTS. o On the far right, click the box labeled add for the attribute type, then you add the attribute value back on FTMFATA. FTIFATA Query form for attribute associations Can grant more access to this screen, since it is just for querying attributes FGPGEXT – GASB EXTRACT PROCESS Run through Process Submission Controls – GJAPCTL. Provides a listing of excluded and missing items Used each month to search for new items or items that need to get tagged. It also helps to run it to turn on the GASB Reporting functions. FGPGEXT – GASB EXTRACT PROCESS (CONT.) This report shows FOAPAL Elements with No Valid Association and Data Excluded from GASB Reporting, because it was tagged to be excluded. Review this report before closing, to ensure the financials include all necessary accounts. FGARCLE AND FGIRCLE •You can enter reclassifications and query them on these screens. •Reclassifications can not be deleted, are not cumulative from period to period, and I find it much easier to adjust the statements in excel. FGAGASB Pulls financial statements summary or detail in csv. file format Also able to get exclusion and attribute listings FGAGASB (CONT.) Summary report…note that you can tag your component unit as well Subtotals by Attribute Type Header includes the fiscal period and date the report was run. Detailed reports have everything you could possibly associated with each line of data. FINAL ADJUSTMENTS IN EXCEL Monthly, we present three month financials, the current, prior, and prior year. I run FGAGASB reporting for all three period and copy them into Excel. Next I have formulas looking at the attributes and rolling up to our “pretty financials.” There are also pivot tables where all reclassifications are made. We are careful to check these during each close. OTHER USES FOR ATTRIBUTES Payroll Labor Redistributions Another source for tagging items…if you need more than the fund, org, program, activity, or location. Plus, attributes can be set up to not affect classifications on the general ledger. Multi-year grants, or to track grants from the same funder National reporting (NCAA sports, Grants) GASB REPORTING THANKS FOR VIEWING THIS PRESENTATION! QUESTIONS? Contact Info: Andrea Ausperk, CPA Senior Accountant/Analyst Cuyahoga Community College 216-987-3462 Andrea.Ausperk@tri-c.edu