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.
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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:
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Navigate to the burger menu in the top toolbar and select Refresh ALL.
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- Run Local Rules:
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Repeat the process using the Refresh ALL option in the burger menu.
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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.
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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
- Ensure all balances and adjustments are accurate.
- Confirm that all cross-checks reconcile to zero.
- Once all validations are complete, the statement is ready for final review.
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