As the State Auditor’s Office is prepares for the Annual Comprehensive Financial Report each year, one important piece of the report is Deferred Revenue. A definition, as well as information pertaining to deferred revenue, can be found in the WOLFS Revenue User Guide.
The SAO Accounting Division is requesting that each agency supply an explanation and balance (according to their records) for all Deferred Revenue balances. The agency should reconcile the federal portion of Deferred Revenue to their respective SEFA Schedule. There should not be comingled funds in the federal balance sheet (2221 BSA).
To review your agency’s Deferred Revenue balance pulled from WOLFS, please click on the summary tab of the attached Excel workbook (the detail tab in this workbook is for your assistance in finding the breakdown behind your deferred revenue balance(s)). On the summary tab please filter on your agency number in column A. Review the deferred revenue balance(s) pulled from WOLFS in column E. Please indicate if the balance(s) match your records in column F with either a Y for yes or an N for no. If your records do not match the deferred revenue balance(s) pulled from WOLFS please type in the balance(s) you have according to your records in column G. If your agency has funds reported in a deferred revenue account as of June 30 that should not be included please indicate as such in column G as well. In column H please provide a detailed explanation for the deferred revenue balance(s). In column I please type in your contact information should there be any questions or concerns. After you have finished the spreadsheet for your agency please email it to email@example.com no later than July 15. In the subject line please use the following format: Your Agency Number –Deferred Revenue FYxx.
NOTE: If you have documents you need to attach as supporting documentation please include them with your spreadsheet responses no later than July 15.
Thank you for your assistance in the production of the State’s Annual Comprehensive Financial Report. If there are any questions, please contact the SAO Accounting Group at (307) 777-2460 or by e-mail at firstname.lastname@example.org.