New Search
SMITH Tammy D <br /> From: CRONIN Finn J <br /> Sent: Wednesday, February 11,2009 12:58 PM <br /> To: ~ SMITH Tammy D; MURDOCH Kitty M; HUBERD John C; GUBANIKHIN Pavel E <br /> Subject: RE: FY09/10 Transportation Capital funds <br /> Hi all, <br /> Correct, we are showing residual resources (equity) being transferredfrom 312 to 341, which are one and the same <br /> fund. However, don't forget there are two separate Reporting funds - 312 and 340 -involved in the transaction. In the <br /> Budget doc and CAFR, one wi(I see a transfer from 312 to 340. At year-end in the CAFR, we will reflect zero fund <br /> balance in 312 and 340 will show the actual transfer from 312. True, it may look weird at the management fund level, <br /> but it accomplishes what we need to reflect at the reporting fund level. We have done this in years past when we split <br /> the storm and wastewater funds. <br /> i <br /> The same set of entries will also happen as we transfer the ending fund balance from 133 to 342. <br /> <br /> 1 Finance would like to follow this approach where we past entries to the Budget and GL and avoid creating `unposted <br /> entries" that are a nightmare totrack through the various sections of the budget and CAFR documents. Our last <br /> experience with unposted entries for the splitting of the PSF funds was frustrating and very time consuming. <br /> Finn Cronin <br /> Financial Reporting & Payroll Manager <br /> City of Eugene <br /> . 682-5394 <br /> From: SMITH Tammy D <br /> Sent: Wednesday, February 11, 2009 9:10 AM <br /> To: MURDOCH Kitty M; HUBERD John C; GUBANIKHIN Pavel E; CRONIN Finn J <br /> Subject: FY09/10 Transportation Capital funds <br /> Hi Bud et office and Finn <br /> 9 , <br /> am working on answering Becky's review note on Fund 312/341 <br /> Have we talked to Finn/Kitty about how to show the renumbering of Fund 312 to Fund 341? I don't think we would want to <br /> accomplish this with a budgeted legal transfer, since these two funds are, in fact, one and the same fund, just with a new <br /> system number. I don't even know how you would present a legal fund transfer from a single fund to itself. <br /> think what we're going to want to do on the system is to make a BWC to BWC adjustment (if Budget is able to do this: in <br /> the system) whereby the $279,965 ending balance just "poofs!" from Fund 312 and magically reappears in Fund 341 as of <br /> July 1. Then on the actuals side, we do a JE to close out the actual audited Fund 312 Fund Balance as of July 1 and <br /> make it reappear in Fund 341 on the same date. Can we override BWC in these reports to show that for FY10? <br /> Remember all we're trying to accomplish is an internal system change in a fund number. There is no change in the fund <br /> name or the fund classification here, and that should be clearly noted in the workpaper footnotes for both funds. <br /> Is what Beckysuggesting possible? I -know when I asked in January how to do this, it was as transfers in FY10 between <br /> the old Funds 312/133 and the new Fund 34x funds. <br /> Thank you, <br /> Tammy Smith <br /> Financial Analyst <br /> ,City of Eugene <br /> 1 <br /> <br />