Chief Fiscal Officers and GAAP Liaisons
|From:||Martin J. Benison, Comptroller|
|Date:||July 16, 2009|
|Re:||FY2009 Statutory Receivable Instructions|
The statutory receivable instructions file size 1MB provide guidance to departments on reporting receivables due from a governmental body that are related to expenses incurred on or before June 30 th and collected between July 1 st and August 31 st to the Comptroller's Office. The preliminary estimate is due on August 5 th and the final report is due on September 4 th.
The Office of the Comptroller annually prepares the Statutory Basis Financial Report that report includes an overview of the activity and balances of budgeted funds, non-budgeted special revenue funds, capital project funds, fiduciary funds and the non-appropriated funds of higher education. This overview of fund activity includes statutory receivables as defined below.
Statutory receivables are defined as receivables due from a governmental body that are related to expenses incurred on or before June 30 th and collected between July 1 st and August 31 st. Please note: All non-automated central draw federal grant awards must be included in your submission. The Comptroller's Office will compile and report the statutory receivable amounts for all of the automated central draw federal grant awards.
Financial Reporting Website
This year, all CFOs are asked to review their FY2009 receivables via the financial reporting web site accessed via PartnerNet. All CFOs and GAAP Liaisons have been given access. For more details on PartnerNet, see FY2009-14: New Intranet Site: PartnerNet (issued 12/1/2008). Departments will be asked to confirm whether or not a statutory receivable should be reported for each unit / fund / revenue source code. Instructions are attached. If you have any questions concerning the web site and or if a data entry mistake is made, please contact Maria Bottari at 617-973-2418.
Preliminary Estimate - Due August 5, 2009
The Preliminary Estimate for Statutory Receivables should include actual revenues related to FY2009 activity received from July 1 st to date plus any anticipated revenues related to FY2009 activity through August 31 st.
Final Report - Due September 4, 2009
The Final Report for Statutory Receivables should include actual revenues related to FY2009 activity received from July 1 st through August 31 st.
We recognize there are many tasks competing for your attention during this period; however, we ask you to assign this a high priority. We believe that this web site will make it easier for you to report their statutory receivables in a timely manner. Thank you for your attention to this request. If you have any questions, please contact Julia Burns at 617-973-2452.
Enc: Statutory Receivable How-to Guide file size 1MB