As communicated in the May CFO meetings, monthly email notifications of outstanding balances in AFIS balance sheet accounts will be discontinued. Beginning July 1, 2018, the AFIS Operations Group will no longer be sending these notifications to the agencies. Instead, agencies will need to utilize the recently created Balance Sheet Account Balances by Month for Agencies, FIN-AZ-GL-N605, to retrieve the outstanding balances at their convenience.
The FIN-AZ-GL-N605 report, which is available in infoAdvantage in Statewide Reports, General Ledger folder, provides the agencies a better reconciliation tool because it includes all balance sheet accounts in AFIS as opposed to the more commonly known accounts such as Favorable and Unfavorable Deposit Discrepancy, Use Tax Payable, Non-Sufficient Fund Receivable and Treasurer's Credit Card Clearing. In addition, the report also displays the ending balance in each balance sheet account by month, fund and sub-fund for the selected fiscal year and accounting period. Further, the report shows the cumulative changes in the balances on a month-by-month basis.
As a general reminder, SAAM 0525 requires the agencies to review balance sheet accounts to ensure month-end balances are complete, accurate and adequately supported. Balances in clearing accounts should be promptly identified and acted upon in a timely manner (i.e., within sixty (60) days of the month in which they occur or to which they apply). Refer to SAAM 0525 for complete information.
The Monthly Financial Review GL/Budget QRG has been revised to include the FIN-AZ-GL-N605 report, and is available for downloading on the GAO website. GAO will continue to monitor outstanding balances and will follow up with the agencies as necessary. Please contact your AFIS liaison if you have any questions.