May 1, 1998
FISCAL YEAR-END INSTRUCTIONS 98-5
|To: ||All State Agencies|
|Attention:||Chief Fiscal Officer or Business Manager|
|Subject:||Transfer Lists/Corrections to FY 97-98 |
- Inter-agency claims that are settled by Transfer Invoice (CO-608)
should be given special attention to assure the recording of all
expenditure items in the proper fiscal year. It is imperative that
debtor and creditor agencies cooperate to ensure that the deadline for
transfer list submission is met so that expenditures and revenues may
be recorded in the desired fiscal year. Your attention is invited to
the State Accounting Manual - Transfers Section.
Agencies must ensure that commitments are established against the old
year appropriations to cover all transfer invoices to be processed as
Transfer lists received after the deadline, or any transfer expenditure
which cannot be processed against the old year because of a lack of
commitment, will be charged in July as a new year (1999)
Transfer lists will be accepted for processing as "Old Year" through
and including Thursday, June 18. Transfer lists should be submitted
to Accounting Services, 55 Elm Street, Room 601, 6th floor, Hartford.
SAAAS paperless agencies may transmit EC and ET type documents through June 29, 1998.
CAS II On Line Agencies may enter CO-604s, either EC or ET type, through June 26, 1998.
Such documents must be delivered to Accounting Services no later than June 29, 1998.
- Corrections to Fiscal Year 98 (Old Year)
- Appropriation Ledgers
- Agency Revenue Reports
- Detail Analysis of Expenditures
Your agency will be sent the above reports which reflect the final
balances as of June 30 on Accounting Services' records.
Agencies should immediately reconcile these balances to their own
records and advise Accounting Services of any corrections on an
Agency Correction or Adjustment Report, CO-604, by the close of
business (4:30) on FRIDAY, July 24, 1998.
- The Effective Date for prior year items is 06-35-98.
- "PRIOR YEAR" should be printed in the Explanation Block.
- EXPLANATIONS MUST BE PROVIDED, no blanket transfers can be accepted.
Reference must be made to specific items or documents being corrected.
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