Have you reviewed the SAO's BARS Cash Manual Including Alerts & Changes?
Reviewing the Alerts and Changes will let you know about new expectations from the Auditors.
Go to the SAO Website and review the alerts & changes.
https://www.sao.wa.gov/bars_cash/alerts-changes/header-for-overview-of-significant-changes/
Significant changes for that begin in 2020:
- BARS accounts for deposits that are not custodial activities have been changed
- from 389/589 (389.10.00, 389.20.00, 589.10.00, 589.20.00)
- to 382/582 (382.10.00, 382.20.00, 582.10.00, 582.20.00).
- BARS accounts for beginning and ending cash and investment balance codes changes
- from 389/589 (389.10.00, 389.20.00, 589.10.00, 589.20.00.00
- to:
Restricted Cash and Investments - Beginning: 308.31.00/508.31.00
(Cash Basis Only): Indicates the portion of cash and investments balance that is subject to externally enforceable legal restrictions (imposed by creditors, grantors, donors, other governments, etc.). The restrictions may also be imposed by law through constitutional provisions or enabling legislation. The purpose of externally restricted revenue does not need to be narrower than the purpose of the fund; however; it has to be imposed by an external party. For example: any unspent taxes restricted by RCW for a specific purpose.
Committed Cash and Investments - Beginning: 308.41.00/508.41.00
(Cash Basis Only): Indicates the portion of cash and investments’ balance that represents resources whose use is constrained by specific limitations that the government imposes upon itself at the highest level of decision making (normally the governing body: e.g., board of commissioners, board of directors, etc.) through a most binding formal action (e.g., resolution, ordinance, etc.) and that remains binding unless removed in the same manner. A motion, plan or stated management intent regarding how resources will be used does not meet the criteria for classifying balances as committed because the commitment has to occur at the highest level of authority through the most binding formal action.
Assigned Cash and Investments - Beginning: 308.51.00/508.51.00
(Cash Basis Only): Indicates the portion of fund balance that reflects a government's intended use of resources. These are amounts intended to be used by the government for specific purposes that are neither restricted nor committed. Example: the governing body can state its intent to use resources for a specific purpose in an informal way like a motion or other form of a directive. The governing body could also delegate authority to others (directors, managers, etc.) to express intent. Any transfer of resources to funds other than the general fund represents an assignment.
Unassigned Cash and Investments - Beginning: 308.91.00/508.91.00
(Cash Basis Only): This is the amount remaining in the fund after classifying amounts as nonspendable, restricted, committed, or assigned. Unassigned amounts are technically available for any purpose. The general fund is the only fund that can have a positive unassigned cash and investments.
Nonspendable Cash and Investments - Beginning: 308.21.00/508.21.00
(Cash Basis Only): These are amounts that according to laws or contracts cannot be spent. This category applies to items like permanent endowments when the donor stipulates that the principal amount of the contribution must be preserved and invested and only the earning can be used for governmental purposes. This category will be used only in permanent (700) and trust (600) funds.
- Disclose OPEB Liability on Schedule 09 and Notes to Financial Statements.
- Disclose Defined Contribution Pension Plans in Notes to Financial Statements (i.e. deferred comp matches).
- Disclose Component Units, Joint Ventures and Related Parties in Notes to Financial Statements as a separate note.
- Disclose Leases
Have you reviewed the Springbrook Express Knowledge Base?
Reviewing the Knowledge Base helps with developing a plan for what needs to be done.
Review the Knowledge Base
Go to Springbrook Expres Help Center and/or login to the Springbrook Express Online Community
How do I get started with Annual Reports?
How do I prepare the Schedule 01?
How do I prepare the Schedule 06?
How do I prepare the Schedule 09?
How do I prepare the Schedules 15 & 16?
Can you log in to the SAO's Online Services via Secure Access Washington?
Follow directions from SAW_Access_SAO.pdf to setup a secure login.
Have you reviewed your prior year's annual reports?
This is important to look for changes, mistakes, or anything left incomplete before starting the new reports.
Review the prior year annual report.
If you do not have a copy, log in the SAO Online Services to review it.
Have you reconciled your cash & funds from the county and or bank statements to your December Treasurer's Report?
It is very important that the cash is reconciled and the December Treasurer's Report is in balance before starting the Annual Reports.
You are ready to start your Annual Reports.
Move on to How much help would I like from BIAS?
Reconcile your cash & funds.
If you need help, then contact Springbrook Express Support.