To record cash revenues earned and received during the fiscal year (between July 1 and June 30) and deposited in the State Treasury (for treasury accounts) or a local bank account (for local accounts) by June 30. Refer to Subsections 85.20.10 and 90.20.10.

To record cash revenues earned and received by June 30 and recorded by the AFRS June cut-off, but not deposited/receipted in the State Treasury (for treasury accounts) or a local bank account (for local accounts) by June 30.

Material prior period adjustment entries have the effect of adjusting beginning fund balance/equity. These entries must be submitted to the OFM Accounting Consultant assigned to the agency for approval and entry. Full footnote disclosure must accompany these adjustments.

To record material prior period adjustments to beginning real account balances (equity). Refer to Subsection 90.20.15.b.

To record material prior period adjustments to the Subsidiary Accounts 997 and 999, debit and credit adjustments are offset to GL Code 9910 "Current Period Clearing Account (Subsidiary Accounts Only)." Refer to Subsection 90.20.15.c.

For purposes of this example, assume that an agency discovers that $5.0 million of equipment, with associated allowance for depreciation of $4.4 million, remains in the Capital Assets Subsidiary Account 997 long after the equipment has become obsolete and effectively retired.

Note: The ending balance in GL Code 9910 must be zero.

To write off an unliquidated estimated accrual. For purposes of this example, assume that an agency recorded an estimated accrual in the amount of $20,000 and received actual bills in the subsequent fiscal year totaling $19,500.  The residual balance of $500 in GL Code 5111 "Accounts Payable" should be adjusted through GL Code 3215 “Immaterial Adjustments to Prior Periods,” Revenue Source Code 0486 “Recoveries of Prior Expenditure Authority Expenditures.”  Refer to Subsection 90.20.45.

To correct the over liquidation of a prior year estimated accrual. For purposes of this example, assume that an agency recorded an estimated accrual in a prior year in the amount of $10,000 and received actual bills in the subsequent year totaling $12,000.  The balance ($2,000) in excess of the estimated accrual is a current year expenditure and, if the account involved is appropriated, a belated claim. Refer to Subsections 90.20.15.e and 85.40.10.

To record the recovery of an expenditure charged against a prior period expenditure authority. For purposes of this example, assume that an agency paid their electric bill in the amount of $5,000.  In the subsequent fiscal year the agency received a refund for an energy credit in the amount of $500.  The $500 is recorded in the current fiscal year using GL Code 3210 “Cash Revenues” with Revenue Source Code 0486 “Recoveries of Prior Expenditure Authority Expenditures.” Refer to Subsection 90.20.15.

To adjust a receivable that was overestimated. For purposes of this example, assume that an agency recorded an estimated receivable in the amount of $25,000 and in the subsequent year received payment in full of $20,000.  After liquidating the receivable for the amount received, the residual balance is adjusted through current year revenue. Refer to Subsection 90.20.20.e.

To adjust a receivable that was underestimated. For purposes of this example, assume that an agency recorded an estimated receivable in the amount of $20,000 and in the subsequent year received payment in full of $30,000.  After liquidating the receivable for the amount received, the residual balance is adjusted through current year revenue. Refer to Subsection 90.20.20.e.

To record revenues earned but not received by June 30. Refer to Subsection 90.20.20.

To record receipt of accrued revenues in the ensuing fiscal year and deposit in the State Treasury (for treasury accounts) or a local bank account (for local accounts). Refer to Subsection 90.20.20.

Note: For revenue accrued at the end of the first fiscal year of the biennium, this entry is accompanied by a reversal of the accrued revenue - debit GL Code 3205 "Accrued Revenues," and credit GL Code 3210 "Cash Revenues" in the second fiscal year.

To record a receivable for revenues which meets the asset recognition criteria but does not meet the revenue recognition criteria and is not expected to be collected until after the concluding fiscal year. Refer to Subsection 90.20.20.b.

Refer to Subsection 85.36.20 for information on payment methods available to state agencies.

To record cash expenditures/expenses for goods and services received and paid for during the fiscal year (prior to June 30). Refer to Subsection 90.20.10.

To record the accrual of actual expenditures/expenses for goods and services received but not paid for by June 30. Refer to Subsections 90.20.25 through 90.20.40.

To record payment of accrued expenditures/expenses in the ensuing fiscal year.

This entry is system generated in AFRS agencies when using payment-producing transaction codes:

Note: For expenditures charged to a biennial expenditure authority accrued at the end of the first fiscal year of the biennium, this entry is accompanied by a reversal of the accrued expenditure - debit GL Code 6510 "Cash Revenues," and credit GL Code 6505 "Accrued Revenues."

To record the accrual of estimated expenditures/expenses for goods and services received but not paid for by June 30. Usually the invoice has not been received by July 31. Estimated expenditures/expenses may also be items for which you anticipate an invoice amount based upon expenditure trend information, such as regular quarterly invoices. Refer to Subsections 90.20.30 through 90.20.40 and 90.20.55.

Note: At the end of the first year, estimated accruals against biennial expenditure authorities are recorded in GL Code 6505 “Accrued Revenues.”

To record encumbrances for budgeted accounts during the fiscal year. Refer to Section 85.30 and Subsections 90.20.25 through 90.20.40.

To record liquidations of encumbrances for budgeted accounts when paid or accrued.

To record the end-of-biennium capital appropriation encumbrances for projects that have been reappropriated in the ensuing biennium. Refer to Subsection 90.20.40.d.

To record an interagency reimbursement received by a budgeted proprietary fund type account for salaries and benefits during the fiscal year. (Refer to Subsections 85.90.60.b, 85.95.60 and 90.20.70.b.)

To record an interagency reimbursement received by a non-budgeted proprietary fund type account during the fiscal year.

To record an interagency reimbursement received by accounts other than proprietary fund type accounts for salaries and benefits during the fiscal year.

To record an intra-agency reimbursement received by a budgeted proprietary fund type account for salaries and benefits during the fiscal year. (Refer to Subsections 85.90.60.a, 85.95.50, and 90.20.70.b.)

To record an intra-agency reimbursement received by a non-budgeted proprietary fund type account during the fiscal year.

To record an intra-agency reimbursement received by accounts other than proprietary fund type accounts for salaries and benefits during the fiscal year.