WING FYXX YEAR-END CHECKLIST
□ 14 September – Cut-off date to submit in WMIRS for all non-emergency mission
flying paid with prior year funding.
□ 30 September – Obtain values on or at 30 Sept for any certificates of deposit,
including those held by units. You may have to visit the bank on 1 October or
download it from your on-line access on 30 Sept or 1 Oct. Make sure any
accrued interest is listed or that there is enough information to calculate the
accrued interest (rate, maturity date, etc).
□ 1 October –Budgets for wing and units must be finalized and loaded into eAccounting. CAPR 173-1 paragraphs 9a(4) and 9b(8)
□ 1 October – Financial Management Procedures (FMP) for Wing and Units are
not required to be renewed, unless there has been a change in command.
However, verify that the existing FMP is accurate.
□ 1 November – All CAPF 171 (Unit Financial Disclosure) are due to wing. These
must be signed by the unit commander. This is also the due date for the units to
complete the contributed facilities form which is referenced in the financial
disclosure. All units are required to respond.
□ 15 November – Last date for missions to be submitted (with CC approval) in
WMIRS for NHQ payment. Any missions approved by the wing commander 45
days after the end of the mission will only be paid if funding is available at year
end (this cannot be determined until December).
□ 31 December -- The CAPF 172 (Wing Authorization to be Included in the FY 10
IRS Form 990 and audit) must be signed by the commander and submitted to
your WFA. A listing of Units Included must also be attached. Copies of these
documents are attached and can be found on the Financial Management
website.
□ January 15 (following year) -- If the wing has paid any person or business,
other than a corporation, for services which totaled over $600 in a calendar year,
please provide that information to NHQ via your WFA so that NHQ may issue an
IRS Form 1099 to that person or organization. Be sure the payee has completed
an IRS Form W-9. Note that the $600 limit runs for the calendar year from
January to December. A spreadsheet is attached that will need to be completed
for this and submitted to your WFA. Sample services are listed to guide you.
(NOTE: Changes in the health care reform law will change the rules for IRS Form
1099 recipients in FY 11 and FY 12)
ADDITIONAL HELPFUL ITEMS
□ Watch invoice and bill dates! September member flying invoices should be
dated 30 September. Fourth quarter or September consolidated maintenance
draftback bills should be dated 30 September. Rebates and contributions from
NHQ for September should be dated 30 September. Bill dates should be entered
using the date of service. By following these rules, your receivables and
payables will accrue in the correct fiscal year.
□ Proficiency flying – A list of all proficiency flying for FY 10 that is not paid by
9/30 must be detailed for the audit. At a minimum, this will include September
proficiency payments. Enter these as invoices (accounts receivable) in
QuickBooks.
□ All FY 10 minor maintenance payments from members or units should be
received by the 15th of September. Wings that elect to draft these funds from
their units have until the 31st of October to do so.
□ If the wing or any squadron is using a donated building or any other donated
facilities, a value must be placed on the use. If there are donated utilities, tiedowns, telephone, etc., a value must be placed on these also. Please contact
your base/post/airport contact person to see if they have established a value for
this. Most military bases and airports do. You will need to know the square
footage of the facility as soon as possible so that a value may be determined. If
this facility is near other rented facilities, like an airport, or office complex, you
could ask the property manager what the rental value is for other facilities.
Otherwise, you can research rental rates for the area through realtor websites.
Your WFA can help you with this valuation. Attached is a form to assist with this.
□ For any owned facilities (unit or wing) not listed on your Balance Sheet, obtain
original cost values of all buildings the units own so that these can be added to
the wing financial statements. Also add this value to CATS/ORMS.
□ Create a list of all non-cash donations received by the wing, i.e., vehicles,
trailers, equipment, aviation fuel, etc. These non-cash donations must still be
reported.
□ Make sure all your cash accounts, including investments, are reconciled through
30 September and 31 October. Void or write off any stale checks (older than
6 months) prior to reconciling the 30 September bank statement. Make sure
a member of the finance committee other than the person who performed the
reconciliation signs the reconciliation. Save all reconciliations and statements to
e-Accounting.
□ The verification of fixed assets at the wing must be signed by the wing
commander and submitted to NHQ. Please notate any assets obtained during
the fiscal year which were purchased or valued over $5,000 with acquisition date,
amount/value, and a description of the asset which is clear enough to allow
anyone to identify the asset. Often the description is “generator” when there are
already 5 at the wing. Please identify the asset in a manner that will distinguish
one generator from another. Please also notate any disposals, including the
date, proceeds, and method of disposal. Copies of any paperwork relating to the
acquisition or disposal of any asset over $5,000 must accompany the fixed asset
verification form. NHQ will e-mail this report to each wing.
□ Perform the Quarterly Internal Financial Review for the last quarter of FY10 by
15 November. Please make sure you are using the new form which has been
posted on the NHQ website under CAPR 173-1. Bank reconciliations need to be
reviewed at least quarterly and signed by a member of the finance committee
other than the person who performed the reconciliation. It is recommended that
the person performing the Internal Financial Review also review and sign any
bank reconciliations. A copy of the Internal Financial Review must be saved to eAccounting.
□ The finance committee should have met at least once per quarter and
documented with written, detailed minutes. Save these minutes to e-Accounting.
□ Review all payables and receivables weekly. Any receivables over 90 days
old should be investigated as these may no longer be collectible. Any payables
over 30 days should be reviewed.
□ All personal member reimbursements have to be submitted for payment within 60
days of the expense. If the unit or wing does not have funds to remit payment at
the time of submission, that is OK. We still need to make sure it is entered into
QB as a payable.
□ Ensure there are no deposits in transit. Deposit all funds on hand on
September 29 before the bank’s close of business time (sometimes noon, or 2:00
pm. Check with your bank) to ensure this does not happen.
□ All signatories on the bank signature cards must be members of the finance
committee, other than activity accounts which requires at least two finance
committee members in addition to the non members. Make sure these
signature cards are current. Also verify the EIN on these accounts is 756037853.
□ Make sure all voided checks are entered in QuickBooks. You can run a
“Missing Check” report to verify there are no checks missing in your QuickBooks
registers. Under “Reports” choose “Banking” and then “Missing Checks.” You
can run this report for each checking account. Research and enter into QB any
missing checks.
□ If not under consolidated maintenance: All aircraft minor maintenance must
be separated from fuel when entering invoices and bills and must be classed to
an aircraft tail number. You can run a report that will help you determine
whether everything has been classed correctly. Under “Reports” select
“Company and Financial” and then “Profit and Loss Unclassified.” You can then
click on any amounts that should have obviously been classed to aircraft such as
any aircraft minor maintenance income accounts and the aircraft maintenance
expense account.
□ All activity accounts must be listed in QuickBooks, including encampment
accounts, and must be current in their reconciliations. These reconciliations
must also be signed by a member of the finance committee and saved to eAccounting.
□ A copy of the state MOU or agreement must be given to the WFA during the
audit. This can also be saved to e-Accounting for access to everyone.
□ A copy of any leases, including equipment leases, and any contracts must be
given to the WFA during the audit.
□ Reconcile account 6400000 and its subaccounts against account 9436000,
9467000 and their subaccounts. Be sure that all amounts received by wing from
units below are offset by expenditures with regions and wings and all amounts
received by units from wing are offset by expenditures with units below. Only
receipts from regions or other wings and expenditures with regions or other
wings should remain unmatched.
Following this checklist and helpful hints should make your year-end audit visit go
much more smoothly. We appreciate all your hard work and dedication to Civil Air
Patrol.