YEAR-END REPORT NO. 10, ANALYSIS AND RECONCILIATION OF REVOLVING FUND ACCOUNTABILITY - 7965

During the fiscal year, Revolving Fund Cash is accounted for on an imprest basis. To properly reflect the actual revolving fund composition as of June 30, adjusting entries are necessary for year-end reporting purposes. The adjusting entries will reduce the balance of the revolving fund cash account to the balance of the revolving fund portion in the department’s checking account. The adjusting entries are recorded in the fund where the revolving fund was withdrawn from and are reversed as of July 1. The amounts of these entries will also be shown on the Accrual Worksheet, Report No. 2 as Revolving Fund Adjustments. For the adjusting entries, see SAM section 10601.

The source for the adjusting entries is an Analysis and Reconciliation of Revolving Fund Accountability, Report No. 10. The report consists of the following:

1. Cash book balance – Amount of revolving fund cash in the department’s general checking account
2. Cash in sub-revolving funds and undeposited receipts for reimbursement of the revolving fund.
3. Expense advances – Amount of outstanding claims that are pending reimbursement of the revolving fund
4. Salary and travel advances – Amount of outstanding advances to employees that are pending reimbursement of the revolving fund
5. Claims processed on or before June 30 to reimburse the revolving fund but not paid by June 30.
6. Revolving fund disbursements not scheduled for reimbursement by June 30, and expenditures have been accrued via the A-8 entry.
7. Amount of revolving fund withdrawn from appropriation or pursuant to statute.

Report No. 10 is not submitted to the State Controller’s Office (SCO) but will be kept on file with other year-end reports for audit purposes.

A sample of Report No. 10, Analysis and Reconciliation of Revolving Fund Accountability, is shown in the 7965 Illustration.