ENTRY NO. A–13, TRANSFER CASH IN STATE TREASURY TO FUND BALANCE-CLEARING ACCOUNT - 10615

(Revised: 06/2023)

Purpose: To transfer the balance in Cash in State Treasury Account No. 1104000 (Legacy Account No. 1140) to the Fund Balance—Clearing Account. This entry is used when a fund is shared by multiple agencies/departments.

References: SAM Sections 10403 and 10464

Transfer Cash in State Treasury to Fund Balance-Clearing Account (for Shared Funds)

Debit/

Credit

Account

Legacy Account

Account Description

Note

Debit

1104000

1140

Cash in State Treasury

Credit

3903000

5570

Fund Balance-Clearing Account

Note: Should an agency/department’s Account No. 1104000 (Legacy Account No. 1140) have a debit balance, the above entry would be reversed.

For shared funds, Account No. 1104000 (Legacy Account No. 1140), Cash in State Treasury, shows the net cash balance in the State Treasury for the fund. By having the agency/department transfer their balance of Account 1104000, in addition to the closing entry (Entry No. C-1) to the Account No. 3903000 (Legacy Account No. 5570), Fund Balance-Clearing Account, each agency/department will show their equity (net assets or liabilities) of the shared fund, and the State Controller’s Office (SCO) records will show the net activity for the entire fund.

To ensure the accuracy of the agency/department’s financial reports, agencies/departments will perform a monthly fund reconciliation to their general ledger account balances prior to closing the nominal accounts. The fund administrator of a shared fund will obtain necessary reports from all fund users to reconcile the activity in Account No. 1104000 (Legacy Account No. 1140).

Revisions

ENTRY A-13, CASH IN STATE TREASURY IS TRANSFERRED TO FUND BALANCE-CLEARING ACCOUNT (FOR FUNDS NOT ACCOUNTED ENTIRELY BY ONE AGENCY) - 02/2015

ENTRY NO. A–13, TRANSFER CASH IN STATE TREASURY TO FUND BALANCE-CLEARING ACCOUNT - 10615

Revisions

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