GAAP Forms - OSF Form A-1 Instructions
The CAFR presents the amount and risk categorization of cash and investments under state control as of the close of business on June 30.
Most cash and investments are recorded in the Office of the State Treasurer (OST) and accounted for by the Office of State Finance (OSF) through appropriated class/funds, such as 19100, 20000, 51100, etc., and official depository class/funds, such as 79901 - Clearing Account, 8090A - Special Account, 8090P - Petty Cash Account, etc. There are some exceptions, such as deposits in transit. OSF will obtain most of the needed cash data from OSF records and the OST. This conversion package will provide the remaining data.
A. Carefully read the key terms in Part III.
B. The Cash and Investments Summary form (summary) should reflect amounts as of close of business on June 30.
C. Round all dollar amounts to the nearest whole dollar.
D. All working papers are subject to audit by the State Auditor & Inspector (SA&I). The agency is required to keep a copy of the completed summary form and all associated working papers for 3 years after the completion of the SA&I audit.
E. The person who completes and signs the summary form should keep a copy. OSF will contact this person if there are any questions.
F. If needed, call your agency’s financial reporting analyst for guidance.
G. Return the completed summary form to OSF no later than the due date shown on the form. If you can return it earlier, please do so. Mail should be sent to the Office of State Finance, 3812 N. Santa Fe Ave., Suite 290, Oklahoma City, OK 73118. Completed summaries may also be e-mailed to your financial reporting analyst.
H. If the summary form does not apply to your agency, check the box in the upper left portion of the summary, complete item (2) and return it to OSF.
A. Agency Clearing Accounts Agency clearing accounts are depository class/funds in the State Treasury, established in accordance with Title 62, Section 7.1, and are used by each agency to deposit any revenues collected by that agency. All items of revenue are held there until such items have been honored by the paying entity (e.g., personal checks against bank accounts). Once these items have cleared, the revenues are transferred to other operating class/funds.
B. Agency Special Accounts (ASA) Agency special accounts are depository class/funds in the State Treasury, established in accordance with Title 62, Section 7.2, for a state agency. Disbursements from such an account are made on vouchers issued directly against the account by the agency.
C. Carrying Amount - Bank Accounts The balance on your accounting records on June 30.
D. Carrying Amount - Investments The lower of cost, amortized cost for equity securities, amortized cost for debt securities or market.
E. Cash on Hand For purposes of this closing package cash on hand includes:
Cash on hand does not include:
F. Deposits in Transit Cash and checks collected before July 1 and not shown as deposited on the records of the OST or bank by the close of business on June 30. Deposits in transit do not include amounts already in an agency clearing account. They do include amounts that will be deposited into an agency clearing account or an agency special account.
A. Preparation of the Data
Prior to completing the summary form, it is necessary to reconcile all of your cash funds with the OSF and OST reports.
Also, you will need to establish your cash on hand balances for receipts to be deposited (deposits in transit) and any other significant cash items at the close of business on June 30.
After reconciling your cash funds and counting your cash on hand, transfer the total of the requested items to the summary form. Complete the summary form per the instructions below and submit it to OSF.
B. Reconciling Class/Funds to OSF Reports
Every 5-digit class/fund authorized for use by your agency must be reconciled to OSF reports. The following steps should assist you in reconciling your funds to OSF.
Note: Retain all reconciliations for inspection by the State Auditor and Inspector.
C. Completing the Cash and Investments Summary Form
Complete only one summary form showing the totals for the entire agency unless you are specifically instructed otherwise. The steps to complete the summary are:
The agency should keep any documents that support information on the summary form. For example: