May 1, 1998
FISCAL YEAR-END INSTRUCTIONS 98-2
|To: ||All State Agencies|
|Attention:||Chief Fiscal Officer or Business Manager|
All monies received prior to July 1 are fiscal year 1997-98 (old year)
receipts and all monies received after June 30 are fiscal year 1999 (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.
I. Fiscal Year 1997-98 (Old Year)
- 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.
- All old year receipts must be recorded on Series M Deposit Slips
Receipts deposited and validated by the bank prior to July 1 must
be reported on Series M 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 2nd. Hand carry if
necessary. Please note that for this year only, we have reduced by
one day the amount of time available to agencies to deliver deposit
slips. This departure is due to required year 2000 programming
changes to the Central Accounting System which must be implemented
before the accounting system can be brought back up for fiscal year
1999. For agencies entering deposit slips on SAAAS you will have
until 4:00 p.m., July 2nd.
Additional guidance for SAAAS users will be issued by the
Treasurer's Office in June and discussed at the year-end user's
All monies collected prior to July 1 but not deposited and
validated by the bank by June 30 must be deposited by July 2nd and
recorded on Series M 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 Statutes.
II. Fiscal Year 1998-99 (New Year)
- Record on Series N Deposit Slips (CO-39) all monies received
after June 30.
- Agencies should review new year (Series N) deposits for refunds
(document type RE) coded to budgeted appropriations lapsing on
June 30, 1998, to ensure that they are for FY 99 year expenditures
only. Refunds for expenditures made in fiscal year 98 to lapsing
appropriations must be coded as Refunds of Prior Year
Expenditures, 99020, document type SR.
III. 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.
IV. 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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