Checklist: Disclosure Studio - Prepare for the ACFR

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1. Pre-Fiscal Year End Prep

Timeline: 1-2 Months Before your Fiscal Year End

• Roll your ACFR forward
• Update available data and narrative in your Report:
  • Introductory Section
  • Notes to the Final Section
  • Required Supplementary Information
  • Statistical Section
• Add new funds to MDFM dimensions and fund mapping file

Helpful Resources: 

• Checklist: Disclosure Studio - Getting Started with an Annual Comprehensive Financial Report
• Manage Report Sections within your ACFR
• Add and Automate Headers and Footers
• Add a Content Block
• Add Sections or Pages to the Table of Contents (TOC)
• Create a Note

2. Preliminary Data Upload & Statements

Timeline: At Fiscal Year End (FYE)

• Upload Preliminary Data File for:
  • Governmental Funds Statements
  • Proprietary Funds Statements
  • Fiduciary Funds Statements
• The jobs to do:
  • Update statement structure if needed in MDFM dimensions
  • Link unmapped accounts to statement lines
  • Update Local Rules where applicable
  • Check for conflict in local rules
    • If there are conflicts, resolve the local rule conflict before proceeding

3. Final Data Upload & Statements

Timeline: 1 Month After your FYE

• Upload Final Data File for:
  • Fund level Statements
• The jobs to do:
  • Link unmapped accounts to statement lines
  • Update Local Rules where applicable
  • Check for conflict in local rules
    • If there are conflicts, resolve the local rule conflict before proceeding
  • Verify Checks in MDFM Tables 
    • "Checks" Pivot View
  • Add rounding entries in the Adjustment panel
  • Revalidate Checks in MDFM Tables
    • "Checks" Pivot View

4. Preparing Reconciliation, Cash Flow, Government Wide, and MD&A Statements

Timeline: Weeks 6-12+ after your FYE

• Complete Reconciliation Statements
  • Link unmapped accounts to applicable statement lines
  • Create and post Conversion Entries
• Complete Cash Flow Statements
  • Refresh Cash Flow Dataset
  • Map unmapped accounts to applicable statement lines
• Government-wide Statements
  • Map unmapped accounts to applicable statement lines
    • Statement of Net Position
    • Statement of Activities
• Import MD&A Tables and Notes Tables into the Report
• Write MD&A Narrative and Notes Narrative
• Financial Statements Submitted to Auditors

Helpful Checklists: 

• Checklist: Disclosure Studio - Finalize MD&A

5. Finalize Notes, Introductory, RSI, Statistical Section

Timeline: Weeks 8-12+ after your FYE

• Finalize data and narrative in:
  • Introductory Section
  • Notes to the Final Section
  • Required Supplementary Information
  • Statistical Section
• Cross-checks for all financial statements completed
• Final wording and tables locked across the report

6. Audit Phase

Timeline: Weeks 10-16+ after your FYE

• Generate Report for auditor review
  • Draft submitted to auditors
• Auditors adjustments applied
• Generate adjusted Report for publication
  • Final Draft submitted to auditors
  • Final Draft submitted to GFOA
  • Final Draft Published on city's website