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Q:   Can it really be that time already?  A:   Yes! 

June 3030th, the close of another fiscal year, is quickly approaching.  There Listed below are some key USPS components in making your fiscal year end is a smooth one. We encourage you to review these check points sometime between now and then, preferably as soon as possible. 

•  Do you have an employee retiring at the end of the fiscal year and they are provided life insurance over $50,000?  If so, first the cost of the life insurance over $50,000 will need to be calculated. Then, as one of the employee's final payments, a payment using Payroll>Payroll Payments - Future or Payroll Payments - Current, with the Pay Type of Life Insurance, and the Rate equaling the calculated cost will need to be entered.  Click here for more information regarding Group-Term Life Insurance provided in our documentation as well as (which also includes a link to the IRS for additional information). 
• Run all STRS Reports for early verification.  Running these after the last payroll of the fiscal year could be too late!    
  • Go to Reports>STRS Reporting>STRS Advance.  
    • Generate the Non-Advance Positions Report.  Are there employees listed that shouldn't be?  
      • Remember, the criteria for an employee to appear on the Non-Advance Positions Report is the following:
        • The employee must have a Position with the Retirement Code set to STRS and the Position must have a Job Status of Active or Inactive.  Must It must also have a Contract or Legacy Compensation for the Position.
        • The employee must have a Contract (or Legacy) Compensation with a date range that falls within the current date.The Compensation Pays Paid must be less than the Pays In Contract and there must be Contract Work Days on the Compensation greater than 0.
        • The Compensation Pays Paid must be less than the Pays In Contract and there must be Contract Work Days on the Compensation greater than 0.
        • The Compensation Contract Work Days does not equal the Contract Days Worked or the Compensation Contract Work Days must equal the Contract Days Worked as of June 30 (determined using work days from the calendars).
    • Generate the Advanced Positions Report.  Are there employees listed or not listed that should/shouldn't be?  Is the service credit for each employee correct?  Are your rehired retirees listed as expected?  
      • Remember the criteria for an employee to appear on the Advanced Positions Report is the following:
        • The employee must have a Position with the Retirement Code set to STRS and the Position must have a Job Status of Active or Inactive.
        • The employee must have a Contract (or Legacy) Compensation with a date range that falls within the current date.
        • The Compensation Contract Work Days must equal the Contract Days Worked or the Compensation Contract Work Days must equal the Contract Days Worked as of June 30 (determined using work days from the calendars). 
        • The Compensation Contract Work Days and Contract Days Worked must be greater than 0. 
        • The Compensation Pays Paid must be less than the Pays In Contract.
        • The Compensation Contract Obligation – Amount Paid – Amount Docked must be greater than 0.
    • Generate the Advance Fiscal Year to Date Report.  Is the service credit for each employee correct?  Are your rehired retirees listed as expected?  Begin balancing the figures in the Report Totals section.
      • Remember the criteria for an employee to appear on the Advanced Positions Report is the following:
        • The employee must have a Position with the Retirement Code set to STRS.
        • The employee must have earnings in the current fiscal year. Earnings are a sum of 3 things:
          1. For an advancing Compensation, the accrued wages will be added to earnings (Accrued Wages = Contract Obligation – Amount Paid – Amount Docked). 
          2. Adjustment journals with the Type of Total Gross that are applying to a STRS Payroll item for the employee with a Transaction Date within the fiscal year.
          3. The Applicable Gross of historical STRS Payroll items paid to the employee on payrolls that were not imported from Classic and have a pay date within the fiscal year.
        • The employee must have a Contract (or Legacy) Compensation with a date range that falls within the current date AND the Compensation Pays Paid is not equal to Pays In Contract or the Compensation has been paid in the fiscal year OR the employee must have a Non Contract Compensation with a date range that falls within the fiscal year.

New for This this Fiscal Year End (for those districts who advance their employees):

Payrolls with a July or later pay date can not cannot be processed unless the STRS Advance submission file has been generated. The following error will occur if the first payroll in July is initialized before creating the STRS Advance Submission file:

          ****RUNNING A PAYROLL IN JULY BEFORE RUNNING STRS ADVANCE ****

Please check out the newsletter article featured in refer to our June 2022 addition feature article for additional STRS Advance information.   

Review, Reconcile, and Verify - FYE related USAS prep -  Pat

USAS Tips for Fiscal Year End    

As you prepare for fiscal year end, here is some information to keep in mind for USAS ….

• You can prepare your requisitions now for the new fiscal year, dating them 7/1/23, as long as your July 2023 Posting Period has been created and is

• open.  If July is not opened by the

• user, the system will automatically

• open the July posting period during the process of closing June (which also closes the fiscal year).  The USAS Requisition Approval Workflow can also be utilized while still maintaining the 7/1/23 requested PO date entered when preparing the requisition. 
• The All Amounts Zero parameter on the Appropriation Resolution

• report was updated this past year to include accounts that may add up to zero

• but were

• previously being excluded because the ending balance was zero.   For example, if an account had ($1000) appropriated with $1000 Prior FY Carry Over, the Appropriation of zero (0.00)

• is now

• reported on the Appropriation Resolution report.
• After reviewing the

• fiscal year’s revenues and expenditures,

• you should review

• your Federal Funds and create

• your FY23 Federal Assistance Summary record under the Periodic menu in USAS.  This information will be included in the EMIS extract.  By check marking the

Image Removed

• box Image Added, the EMIS extract will indicate that the district/entity has expended more than $750,000 of federal funds in one year

• .
• After creating the FY23 Federal Assistance Summary record, you can

• thenclone the FY22 Federal Assistance Detail records to help create the same detail records for FY23.  You will still need to edit the cloned record to include

the

• a new

Cash Account

• cash account and figures.

  You may manually enter these Federal Contributions Received and Expended, but the

• The system will populate the figures at the time when the

Cash Account

• cash account is selected. 

You can also set up an Account Filter for the Non-5xx cash accounts that may be needed to also include.  To include these non-5xx funds, set up an Account Filter for read only access for the Fund needed such as:   Image RemovedImportant !   After your initial set up of your Federal Assistance Detail records, if expenditures or revenues change for any accounts reported, additional steps are needed to update the Federal Assistance Detail record’s figures. Please edit the record, click off the Cash Account assigned to the record and then re-select the correct Cash Account to update the figures.  You may also update  these manually.  The

• However, you also have the option to manually enter the Federal Contributions Received and Expended amounts.  
  • For any 5xx cash accounts, the FYTD revenues/expenditures will automatically populate based on the current posting period. NOTE: If there are changes to the FYTD revenues/expenditures after the Federal Assistance Detail record is created, the record will need to be edited in order to update the figures.  You can do this by clicking off the selected cash account and reselecting the cash account. 
  • For any non-5xx cash accounts (i.e., 006-0000), the FYTD revenues/expenditures will not automatically populate when entering the cash account.  However, an account filter can be created and once the cash account and account filter are selected, the received/expended amounts will populate (or you can also manually enter the expended and received amounts).
    • TIP: When creating the non-5xx funds account filters, they can be set up for 'read' access.
    • Important! The FYTD Received and Expended figures will exclude any Transfers/Advances.  You can verify the figures pulled in with the Cash Account on the Core>Account menu or via reports (i.e., Budget/Revenue Summary).

 Image Removed

NOT done !

 Image Added

• As you prepare your Period H collection data,

and prior to pulling this information from the SIF,

• keep in mind that:
  • the EMIS Fund Category value on the

Cash Account (

• • cash account that was previously used to populate the ODE Brief Description

) and Payables amount (optional

• • will no longer be included in the SIF per EMIS Change 23-86.
  • The optional payables amount reported on the ODE Element QC260

)

• • will also show zero and will not be required per the EMIS

updates 23-86 and 24-51 respectively.The Accounts Payable report

• • update 24-51. 
  • The EMIS changes regarding subject codes were also updated in the USAS application.  
  • Prior to generating the EMIS Extract file in USAS, you must complete the Cash Reconciliation, the Federal Assistance Summary/Detail records, Civil Proceedings (if any), and the District & Building Profiles.  The Fiscal Year must be updated in the EMIS SOAP Service Configuration under System>Configuration menu to reflect the FY being reported for Period H.  The SIF Agent will pull the other Period H files that include the Cash, Expenditure and Revenue accounts, the account data and the operational units for the year specified. 
• The Accounts Payable Report is also a report that should be generated and reviewed.

  The report default populates

•  This report can be generated to reflect all payable amounts as of the last day of the fiscal year

but may be edited.  This report generates a report showing all payable amounts as of

• for GAAP reporting and includes many sort and subtotal options.  Although the Reported Date may be edited, it defaults to the last day of the fiscal year

for GAAP reporting.  

• Flag items as not encumbered as of this date?: If running the report for outstanding purchase orders .  Thus, using a 6/30 date, you may generate this report any time after the end of a the fiscal year and the report should show the actual amount which was still generate a report reflecting those payables that were encumbered as of June 30th then this should be left checked. Otherwise, uncheck this option. .   

Image Added

If you select the box to Include invoice date in selection

?: Leaving this unchecked will cause

, the report

to select

will show any PO items with

received

received dates and invoice dates prior

or equal

to the

user

specified date

. Checking this option will cause the report to select items with both received and invoice dates prior to the user specified date.