Certifying Final Budget Reports

During the fiscal year, the NCAS general ledger financial data is maintained on the cash basis of accounting. This financial data is converted to the modified accrual basis of accounting by year-end accrual adjustments to the thirteenth financial accounting period, dated June 30. Cash basis financial data provides the foundation for generating year-end accrual transactions. The accuracy of year-end cash basis account balances is critical in developing financially valid accrual adjustment transactions.

Agencies are responsible for certifying that their month-end reports are complete and accurate by the ninth working day following the end of the twelfth period, June 29. The procedures used to certify the year-end budgetary reports are the same as those defined in the month-end report certification process. It is essential that the balances in all clearing accounts and suspense accounts be zero, all BC documents are completed and ended at 06/29, and no batches (except those with effective date of 6/30) are existing in the SBM file. (No unfinished documents!)