Gravity - Preparing Government-Wide Statements

Pre-requisites:
Government-wide statements should only be prepared after fund-level statements have been finalized, the funds are closed, and all conversion entries have been posted to the Reconciliation to Government-Wide (GW) cube.

The Government-Wide (GW) Cube consolidates information from:

• Fund-Level Statements (Governmental Funds and Proprietary Funds): Includes adjustments and dataset line items.
• Reconciliation to GW: Includes adjustments from conversion entries and dataset line items.

Statement Preparation

Map Rows to Statement Line Items

• Establish local rules to map dataset rows to the appropriate line items in the statement.

• Ensure the fiscal period is selected when creating each rule.
  
   

   

• Create rules for the intersection of the statement structure and period.

Tip: Leverage Related Dimensions linked to the Fund-Level Statement Structure for local rules.

Run Rules

• Run Global Rules:

  • Navigate to the burger menu in the top toolbar and select Refresh ALL.
    
     

     

• Run Local Rules:

  • Repeat the process using the Refresh ALL option in the burger menu.
    
     

     

Resolve Conflicts

• If conflicts are identified, review the conflict details.
• Identify and correct overlapping rules to ensure that no account is included in multiple sections of the Government-Wide Statement.

Handle Unmapped Accounts

• Check the Unmapped Box for any unmapped accounts.
• Return to the mapping step to ensure all rows in the dataset are mapped. This prevents any accounts from being overlooked.
• For accounts not relevant to the statement:
  • Use the Non-Mapped Node to exclude them.
  • Customize this node based on your requirements.

Make Adjustments

• Use Adjustment Type: Adjustments for one-time reclassification entries.

Verify Balances

• Open the Pivot View and search for:
  • Cross-Check-NP, ending”: Verifies that the fund balance aligns with the Net Position and the Statement of Activities.
  • “Cross-Check-NP”: Ensures the Statement of Net Position is balanced to zero.
• Tip: If Cross-Check-BS indicates a difference witin the rounding tolerance (+/- 1):
  • Check for any rows with values in the Unmapped Box.
  • Verify that the trial balance for the corresponding fund is balanced to zero.

Make Rounding Adjustments

• Use Adjustment Type: Rounding to balance the statement to zero.
• Tip: To ensure the accuracy of the Reconciliation to Government-Wide Statements, the Government-Wide Statement should only contain reclassifications or rounding adjustments.

Final Validation

1. Ensure all balances and adjustments are accurate.
2. Confirm that all cross-checks reconcile to zero.
3. Once all validations are complete, the statement is ready for final review.