May 2, 1997

FISCAL YEAR-END INSTRUCTIONS 97-2

To:All State Agencies
Attention:Chief Fiscal Officer or Business Manager
Subject:Receipts

All monies received prior to July 1 are fiscal year 1996-97 (old year) receipts and all monies received after June 30 are fiscal year 1998 (new year) receipts. The date of the check is not the controlling factor; the controlling factor is when the checks are received by your agency.

  1. Fiscal Year 1996-97 (Old Year)
    1. You must make every effort to deposit prior to July 1 all monies received prior to July 1, notwithstanding Section 4-32 of the Connecticut General Statutes.

    2. All old year receipts must be recorded on Series L Deposit Slips (CO-39).
      Receipts deposited and validated by the bank prior to July 1 must be reported on Series L slips dated no later than June 30. These deposit slips must be immediately delivered to the State Treasurer, but in no case later than 12:00 noon, July 3rd. Hand carry if necessary.

      All monies collected prior to July 1 but not deposited and validated by the bank by June 30 must be deposited by July 3rd and recorded on Series L Deposit Slips dated after June 30. These deposit slips should be immediately transmitted to the Treasurer as required by Section 4-32 of the General Statues.

    1. Fiscal Year 1997-98 (New Year)
    1. Record on Series M Deposit Slips (CO-39) all monies received after June 30.

    2. Agencies should review new year (Series M) deposits for refunds (document type RE) coded to budgeted appropriations lapsing on June 30, 1997, to ensure that they are for FY 98 year expenditures only. Refunds for expenditures made in fiscal year 97 to lapsing appropriations must be coded as Refunds of Prior Year Expenditures, 99020, document type SR.

  2. Old Deposit Slips

    Please read and comply with State Accounting Manual (SAM) Section on Receipts for handling of old deposit slips at year-end. There is no need to report to the Comptroller on the unused deposit slips.

  3. Old Year Deposit Slip Corrections

    To insure that the correct fiscal year is adjusted, old year deposit slip corrections should be done on form CO-604 (Agency Correction or Adjustment Report) instead of a deposit slip.

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