TO: Chief Fiscal Officers
FROM: Martin J. Benison, Comptroller
DATE: June 7, 2013
RE: FY2013 Statutory Receivable Instructions
Comptroller Memo FY#2013-26
The statutory receivable instructions provide guidance to departments on reporting to the Comptroller’s Office receivables due from a governmental body that are related to expenses incurred on or before June 30th and collected between July 1st and August 31st. The preliminary estimate is due on August 2nd and the final report is due on September 6th.
The Office of the Comptroller (CTR) annually prepares the Statutory Basis Financial Report reporting which 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 30th and collected between July 1st and August 31st. Please note: All non-automated central draw federal grant awards must be included in your submission. CTR will compile and report the statutory receivable amounts for all of the automated central draw federal grant awards.
Financial Reporting Web Site
All CFOs are asked to review their FY2013 receivables via the financial reporting web site accessed via PartnerNet. 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. All CFOs and GAAP Liaisons have access to the financial reporting web site. CFOs can designate other department personnel to transmit the preliminary estimates and financial reports on PartnerNet. Department Security Officers can request access for additional users by submitting a PartnerNet Security request form. If you have any questions concerning the web site and/or if a data entry mistake is made, please contact Moses Kalemba at 617-973-2670.
Preliminary Estimate – Due August 2, 2013
The Preliminary Estimate for Statutory Receivables should include actual revenues related to FY2013 activity received from July 1st to date plus any anticipated revenues related to FY2013 activity through August 31st.
Final Report – Due September 6, 2013
The Final Report for Statutory Receivables should include actual revenues related to FY2013 activity received from July 1st through August 31st.
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 your department’s statutory receivables in a timely manner. Thank you for your attention to this request. Waivers to the dates noted in this memo may be granted in rare exceptions. If you need to request such a waiver or have any questions, please contact Julia Burns, Director of the General Accounting Bureau at 617-973-2452.
Please note: We anticipate the weekly automatic balance forward will be suspended on September 13th and 20th in order to properly record and analyze the FY2013 statutory receivables.
Enc. Statutory Receivable How to Guide file size 3MB