4 Reporting
4.8 SAO Annual Report Schedules
4.8.17 Summary of Bank Reconciliations (Schedule 06)
4.8.17.10 This schedule applies to all counties and cities. It does not apply to special purpose districts.
4.8.17.20 The purpose of this schedule is to summarize the government’s bank reconciliations. This demonstrates the accuracy and completeness of the Schedule 01 and the city or county’s controls over accounting records. It is also used to collect information on bank accounts, cash flows and certain reconciling items.
4.8.17.30 The Schedule Summary of Bank Reconciliations should match the city/county’s bank accounts, bank reconciliations, accounting records, and Statements C-4/C-5 or Schedule 01 (which represents the corresponding summary of accounting records).
A downloadable template of the schedule can be found here: Schedule 06 Template
Use the following instructions to complete the schedule:
Bank statement section
(1) Bank & Investment account name – List all accounts held by the city/county at any point during the year. The list should be inclusive of all bank and investment accounts, including zero-balance accounts. Accounts should be listed separately by row, however Certificate of Deposits or other groups of accounts may be consolidated into a single line on the schedule if it makes the schedule easier to complete. Account descriptions should be sufficient to positively identify the account (or group of accounts) to enable tracing of amounts on the schedule to underlying bank statements and reconciliations, but should not include the full account number.
(2) Beginning bank balance – Enter the balance of each account at the beginning of the city/county's fiscal year. This figure should come for the bank statement issued by that institution. This amount should be the same as the ending balance used in the prior year’s reconciliation.
(3) Receipts – Enter the total receipts deposited in the bank account throughout the year. Do not include transfers into the bank account from other city/county bank accounts, this will be reported in column 4.
(4) Inter-bank transfers in – Enter all transfers in from the city/county’s own bank accounts, such as investment maturities or movements between bank accounts. Do not include bank transfers from outside non-entity bank accounts, which would be a receipt reported in column 3. Columns 3 and 4 should equal the total deposits reported on the bank statements.
(5) Disbursements – Enter all the disbursements made from the bank account throughout the year, such as checks, electronic payments and fees. Do not include transfers out of the bank account to other city/county bank accounts, this will be reported in column 6.
(6) Inter-bank transfers out – Include all transfers out to the city/county’s own bank accounts, such as investment purchases or movement between bank accounts. Do not include EFT, ACH or bank transfers to outside non-entity bank accounts, which would be a disbursement reported in column 4. Columns 5 and 6 should equal the total withdrawals reported on the bank statements. Column 4 and Column 6 should also equal.
(7) Ending Bank Balance – Enter the balance of each account at the end of the city/county’s fiscal year. This should be taken from the bank statements issued from that financial institution.
Reconciling items
(8) Beginning Deposits in Transit – Include total amount of deposits in transit at the beginning of the city/county’s fiscal year. These adjustments should be a positive addition to beginning bank balance and a negative reduction to bank receipts in the same amount to reconcile to accounting records. This amount should be the same as the ending deposits outstanding used in the prior year’s reconciliation. Please enter the amount as a positive number in column B and as a negative number in column C.
(9) Year-end Deposits in Transit – Include total amount of deposits in transit at the end of the city/county’s fiscal year. These adjustments should be the same positive addition to both bank receipts and ending bank balance to reconcile to accounting records.
(10) Beginning Outstanding & Open Period Items – Include the total amount of outstanding and open period items at the beginning of the city/county’s fiscal year. These adjustments should be the same negative reduction to both beginning bank balance and bank disbursements to reconcile to accounting records. This amount should be the same as the ending outstanding and open period items used in the prior year’s reconciliation. Please enter the amount as a negative number.
(11) Year-end Outstanding & Open Period Items – Include the total amount of outstanding and open period items at the end of the city/county’s fiscal year. These adjustments should be a positive addition to bank disbursements and a negative reduction to ending bank balance in the same amount to reconcile to accounting records. Please enter the amount as a positive number in column E and as a negative number in column G.
(12) NSF Checks – Enter the total amount of NSF checks for the year. This would include any deposits that were subsequently withdrawn by the bank due to insufficient funds by the payor, whether a check or an electronic payment. These adjustments should be the same negative reduction to both bank receipts and disbursements to reconcile to accounting records. NSF check fees would not be included in this reconciling item, since these withdrawals would already be recorded as an expenditure in accounting records. Please enter the amount as a negative number.
(13) Cancellation of unredeemed checks/warrants – Include the total amount of cancelled unredeemed checks/warrants throughout the year. These adjustments should be a positive addition to bank receipts to reconcile to accounting records.
(14) Interfund Transactions – Enter the total amount of interfund transactions that are recorded in accounting records but did not correspond to bank deposits and withdrawals. This might include interfund transfers, interfund loans, internal service fund charges, and interfund taxes. These adjustments should be the same positive addition to both bank receipts and disbursements to reconcile to accounting records.
(15) Netted Transactions – Enter the total amount of netted transactions in both columns. This amount should be the total of those deposits and withdrawals in the bank statements that are reported as a net amount in accounting records. For example, this might include refunds and certain reimbursements such as for COBRA payments. These adjustments should be the same negative reduction to both bank receipts and disbursements to reconcile to accounting records. Please enter the amount as a negative number.
(16) Authorized balance of revolving, petty cash and change funds – Enter the total authorized balances of all revolving, petty cash, and change funds. The authorized balances should tie to accounting records as described in BARS 3.8.7. These adjustments should be positive additions to both beginning and ending bank balances to reconcile to accounting records. Beginning and ending adjustments may be different if there was a net change in the authorized balances of revolving accounts during the year.
(17) Other Reconciling Items, net – Enter the net amounts of all other reconciling items included in the government’s year end bank reconciliation that are not already included on other lines. This might include prior period adjustments, correction of bank errors, offsetting agreements, fiscal agent balances, changes in authorized balances of revolving funds, and other items. List net amounts in each column as needed, based on the effect of other reconciling items. Please enter the amount as a negative or positive number.
General ledger section
(18) Statements C-4/C-5 or Trial Balance totals – Enter totals from the city/county’s C-4/C-5 report or Schedule 01 from the annual filing system or from the city/county's accounting records. For reporting purposes, only the total for all reportable funds is required. However, governments may add lines and report general ledger amounts by fund if this is helpful to align with bank reconciliations or to evaluate or explain any variances.
(19) Beginning Cash & Investment Balance - Enter the total cash & investment balances for all reported funds at the beginning of the city/county's fiscal year. This figure should come from the city/county’s general ledger and should match total beginning cash & investments (308) amounts reported on the C-4/C-5 or Schedule 01 for all funds. This amount should also be the same as the total ending balance used in the prior year’s reconciliation; any reported prior period adjustments (388 or 588) should be reported in columns 20 or 21, respectively.
(20) Revenues – Enter the total revenue and other resources reported for all funds for the year. This should match to your general ledger and to total revenues and other resources (31X – 39X) reported on the C-4/C-5 or Schedule 01 for all funds.
(21) Expenditures – Enter the total expenditures and other decreases reported for all funds for the year. This should match to your general ledger and to total expenditures and other decreases (51X – 59X) reported on the C-4/C-5 or Schedule 01 for all funds.
(22) Ending Cash & Investment Balance – Enter the total cash & investment balances for all reported funds at the end of the city/county’s fiscal year. This figure should come from the city/county’s general ledger and should match total ending cash & investments (508) reported on the C-4/C-5 or Schedule 01 for all funds.
(23) Unreconciled Variance – based on the above entries, the excel template will automatically calculate the variance. This should be zero, but if not, should match the total net unreconciled variance identified in the city/county’s bank reconciliations.
