Reconciling the Fund Balance W/Treasury

Description:

This exceptional course explains the relationship of monthly agency reporting to Treasury summary account balances produced at the Agency Location Code level. FMS has determined that fund balance reconciliation includes cash reconciliation process (Statement of Differences) and the reconciliation of Treasury’s summary appropriation account reports to agency records. This useful course offers suggestions for investigating/resolving differences and reporting adjustments.

Major topics include:

• Description and explanation of the cash reconciliation process: FMS 6652: Statement of Differences Support listings for deposit and disbursing transactions Statement of Differences letters
• Description and explanation of the cash reconciliation process: FMS 6652: Statement of Differences Support listings for deposit and disbursing transactions Statement of Differences letters
  
• Description and explanation of fund balance reconciliation process w/Treasury summary reports:
• FMS Form 6653: Undisbursed Appropriation Account Ledger
• FMS Form 6654: Undisbursed Appropriation Account Trial Balance
• FMS Form 6655: Receipt Account Reports
• Sample SGL 1010 transactions
• Crosswalk to FMS 224 (1219/1220) reporting
• Comprehensive case study

Who should attend:

Accountants, auditors and anyone responsible for reviewing agency fund balances and audit results.

Prerequisites:

Participants should be familiary with the FMS 224: Statement of Transactions and have some understanding of the U.S. Standard General Ledger.