SUBSECTION 2.2.6.4
ILLUSTRATIVE ENTRIES

2.2.6.4.1

General

Effective Date:

Sept. 1, 1998

The following situations illustrate the accounting treatment of some typical interfund/interagency transactions. These entries are for illustrative purposes only and should not be considered all-inclusive. Entries posted to GL Code Series 71XX "In-Process" in treasury and treasury trust accounts also require an entry from the Office of State Treasurer as illustrated below to clear the GL In-Process codes.

The entry would be reversed for In-Process debit amounts.

Dr.

Cr.

In-Process (71XX)

xxx

Current Treasury Cash Activity (OST Only) (4310)

xxx

2.2.6.4.2

Residual Equity Transfers

Effective Date:

Sept. 1, 1998

2.2.6.4.2.a

To record the transfer of a fund balance from a discontinued local account to the General Fund - Basic Account. For purposes of this example, assume there is cash as well as outstanding receivables and payables in the discontinued account and that the discontinued account is a governmental fund type account. (Refer to Section 2.2.6.1.1.a.)

Discontinued Account:

Dr.

Cr.

Payables - Short-Term (51XX)

Residual Equity Transfers (9210)

xxx

xxx

Cash In Bank (1110)

Receivables - Short-Term (13XX)

xxx

xxx

General Fund - Basic Account (001):

Dr.

Cr.

In-Process (71XX)

Receivables - Short-Term (13XX)

xxx

xxx

Payables - Short-Term (51XX)

Residual Equity Transfers (9210)

xxx

xxx

2.2.6.4.3

Operating Transfers

Effective Date:

Sept. 1, 1998

2.2.6.4.3.a

To record an operating transfer in. (Refer to Section 2.2.6.1.1.b.)

Dr.

Cr.

Cash in Bank (1110) or In-Process (71XX)

xxx

Cash Revenue (3210) Revenue Source Code (0480) Operating Transfers - In

xxx

2.2.6.4.3.b

To record an operating transfer in. (Refer to Section 2.2.6.1.1.b.)

Dr.

Cr.

Cash Revenue (3210) Revenue Source Code (0481) Operating Transfers - Out

xxx

Cash in Bank (1110) or
In-Process (71XX)

xxx

2.2.6.4.4

Quasi-External Transactions

Effective Date:

Sept. 1, 1998

2.2.6.4.4.a

To record amounts billed for goods and services delivered to another agency or account. (Refer to Section 2.2.6.2.1.)

Dr.

Cr.

Due From Other Agencies - Short-Term (1354) or
Due From Other Funds - Short-Term (1353)

xxx

Revenue (32XX) (with appropriate revenue source code)

xxx

2.2.6.4.4.b

To record receipt of amount previously billed for goods and services delivered to another agency or account. (Refer to Section 2.2.6.2.1.)

Dr.

Cr.

Cash in Bank (1110) or In-Process (71XX)

xxx

Due From Other Agencies (1354) or
Due From Other Funds (1353)

xxx

2.2.6.4.4.c

To record liability for goods and services rendered by another agency or account. (Refer to Section 2.2.6.2.1.)

Dr.

Cr.

Expenditures/Expense (65XX) (with appropriate sub-object)

xxx

Due To Other Agencies - Short-Term (5154) or
Due To Other Funds - Short-Term (5153)

xxx

2.2.6.4.4.d

To record disbursement of amount previously booked as liability for goods and services rendered by another agency or account. (Refer to Section 2.2.6.2.1.)

Dr.

Cr.

Due To Other Agencies (5154) or Due To Other Funds (5153)

xxx

Cash in Bank (1110) or In-Process (71XX)

xxx

2.2.6.4.5

Intra-Agency Reimbursements

Effective Date:

Sept. 1, 1998

2.2.6.4.5.a

To record amounts received by one budgeted account from another budgeted account to reimburse for goods and services rendered on behalf of the reimbursing account. (Refer to Section 2.2.6.3.1.a.)

Dr.

Cr.

Cash in Bank (1110) or In-Process (71XX)

xxx

Expenditures/Expenses (65XX) Object T

xxx

2.2.6.4.5.b

To record amounts paid by one budgeted account to another budgeted account to reimburse for goods and services rendered on behalf of the reimbursing account. (Refer to Section 2.2.6.3.1.a.)

Dr.

Cr.

Expenditures/Expenses (65XX) Object T

xxx

Cash in Bank (1110) or In-Process (71XX)

xxx

2.2.6.4.5.c

The additional entry needed for an Object T reimbursements to a budgeted proprietary account to meet GAAP reporting requirements. (Refer to Sections 2.2.6.3.1.a.)

Dr.

Cr.

Expense Adjustment/Eliminations (GAAP) (6525) Object T

xxx

Revenue Adjustments/Eliminations (GAAP) (3225)

xxx

2.2.6.4.5.d

To record an intra-agency reimbursement received by a non-budgeted proprietary account. (Refer to Section 2.2.6.3.1.a.)

Dr.

Cr.

Cash in Bank (1110) or In-Process (71XX)

xxx

Cash Revenues (3210) Revenue Source Code (0420) Charges for Services

xxx

2.2.6.4.6

Interagency Reimbursements

Effective Date:

Sept. 1, 1998

2.2.6.4.6.a

To record amounts received by a budgeted account in one agency from another agency to reimburse for goods and services rendered on behalf of the reimbursing agency. (Refer to Section 2.2.6.3.1.b.)

Dr.

Cr.

Cash in Bank (1110) or In-Process (71XX)

xxx

Expenditures/Expenses (65XX) Object S

xxx

2.2.6.4.6.b

To record amount paid by a budgeted account of an agency to reimburse another agency for goods and services rendered on behalf of the reimbursing agency. (Refer to Section 2.2.6.3.1.b.)

Dr.

Cr.

Expenditures/Expenses (65XX) Object E

xxx

Cash in Bank (1110) or In-Process (71XX)

xxx

2.2.6.4.6.c

The additional entry needed for Object S reimbursements to a budgeted proprietary account to meet GAAP reporting requirements. (Refer to Section 2.2.6.3.1.b.)

Dr.

Cr.

Expense Adjustments/Eliminations (GAAP) (6525) Object S

xxx

Revenue Adjustments/Eliminations (GAAP) (3225)

xxx

2.2.6.4.6.d

To record an interagency reimbursement received by a non-budgeted proprietary account. (Refer to Section 2.2.6.3.1.b.)

Dr.

Cr.

Cash in Bank (1110) or In-Process (71XX)

xxx

Cash Revenues (3210) Revenue Source Code (0420) Charges for Services

xxx

2.2.6.4.7

Agency Vendor Payment Revolving Account

Effective Date:

Sept. 1, 1998

2.2.6.4.7.a

To record deposits of monies in the Agency Vendor Payment Revolving Account. (Refer to Section 2.2.6.3.2.)

Operating Account:

Dr.

Cr.

Expenditures/Expenses (65XX) (with appropriate sub-object)

xxx

Cash in Bank (1110)

xxx

Agency Vendor Payment Revolving Account (720):

Dr.

Cr.

Receipts In-Process (7110)

xxx

Other Liabilities - Short-Term (5199)

xxx

2.2.6.4.7.b

To record disbursements from the Agency Vendor Payment Revolving Account. (Refer to Section 2.2.6.3.2.)

Agency Vendor Payment Revolving Account (720):

Dr.

Cr.

Other Liabilities - Short-Term (5199)

xxx

Warrants In-Process (7120)

xxx