Verify Finance data
REMINDERS:
- Ensure you are logged on to the prior file ID in Finance to verify information.
- In the prior year file ID, verify that the Previous Year File ID field on the Finance > Tables > District Finance Options > Finance Options tab is set to a number representing the previous file ID instead of a letter.
Finance > Inquiry > General Ledger Inquiry > General Ledger Account Summary
Prior year financial data is extracted from Finance for applicable funds. The totals include actual amounts entered into the system in the prior file ID.
Note: The Auditor's adjusting entries must be posted to obtain accurate amounts. To verify this information, use the Finance > Reports > Finance Reports > Journals, Checks, Detail Ledgers > FIN1150 - General Journal.
Debit/Credit Guide
| Account Code | Debit | Credit |
|---|---|---|
| Assets (1XXX) | Increase | Decrease |
| Liabilities (2XXX) | Decrease | Increase |
| Fund Balance (3XXX) | Decrease | Increase |
| Reserves (4XXX) | Decrease | Increase |
| Estimated Revenue | Increase | Decrease |
| Realized Revenue | Decrease | Increase |
| Appropriations | Decrease | Increase |
| Expenditures | Increase | Decrease |
If adjusting entries have not been posted to the prior file ID, use Finance > Maintenance > Postings > Journal Actual or the Import JV Transactions Template.
The following data is reported:
- Fund (1XX-701)
- Function
- Object
- Report 5XXX-8XXX
- Unlike Fall data, which collapses 61XX into 6100, 62XX into 6200, 63XX into 6300, etc., each object code is reported (6112, 6118, 6119, etc.)
- Organization
- Fiscal Year
- Program Intent
- Amount (rounded to the nearest dollar)
Use Exhibit C-3 from the annual audit report to compare amounts to the Finance > Inquiry > General Ledger Inquiry.
The Finance and Audit Report data should match the PDM2-102-003 Statement of Revenues, Expenditures, & Changes in Fund Balances - Governmental Funds.
TIP: PDM2-100-011 Actual Expenditures by Program&Object Within Detail Function - General Fund, breaks down by PIC, object code, and function.
Exhibit C-3:
Exhibit H-1:
This data can also be verified by using the Finance > Reports > Finance Reports > Summary/Miscellaneous Reports > FIN3050 - Board Report
At this point, data should match on the following four reports:
- Prior Year GL
- Audit Report
- Extract Prior Year Reprint
- PDM2-102-003
In TSDS, PDM reports can extract up to four major funds at a time (excluding the General Fund). You may need to run the report multiple times to collect all required data.
