YEAR-END REPORT NO. 2, ACCRUAL WORKSHEET - 7953
The Year-End Report No. 2, Accrual Worksheet, provides agencies/departments with a uniform and systematic method of compiling year-end accruals. It is the supporting worksheet for Report No. 1, Report of Accruals to Controller’s Accounts. The accruals consist of the assets, liabilities, and deferred credits reflected in the agency/department’s records but not in the central records the State Controller’s Office (SCO) maintains as of June 30. The Report No. 2 excludes certain accounts maintained by the SCO, such as Cash in State Treasury, Deposits in Surplus Money Investment Fund, and other similar accounts.
The report is organized as follows:
a. Column totals record general ledger real account activity.
b. Row totals record nominal account activity.
c. The first column will list accounts in the following order: current year appropriations, prior year appropriations, revenues, miscellaneous receipts, and deferred credits. The 7953 Illustration is only a sample. Each agency/department will enter account titles as necessary for its individual use.
d. The column titled “Deferred Credits” is used to post such accounts as:
- Uncleared Collections
- Provision for Deferred Receivables
- Reimbursements Collected in Advance
- Revenues Collected in Advance
- Cash Overages
- Reserve for Prepaid Items
- Reserve for Advances
The amounts should offset like amounts in the General Cash and Accounts Receivable columns so that the rows net to zero.
e. Generally, the total of each column must agree with a specific account balance on the June 30 Trial Balance, unless two or more trial balance accounts were assigned to one worksheet column. In that case, the vertical column total must agree with the sum of those trial balance accounts.
f. The amounts in the “Net Total Accruals Per Agency” column and column totals for each real account will be posted to the corresponding accounts on the Report No. 1. However, the debits and credits shown in the “Net Total Accruals Per Agency” column will be reversed on Report No. 1. See 7952 Illustration 3 and 7953 Illustration.
See SAM Section 10601 for required year-end revolving fund adjustments related to the Accrual Worksheet.
A sample of Report No. 2 is shown in the 7953 Illustration.