UFARS and Fiscal Compliance Submission Deadlines
Minnesota Department of Education sent this bulletin at 11/29/2011 03:00 PM CSTThis is a friendly reminder that November 30 is the statutory deadline for districts to submit audited UFARS data and for auditors to complete Fiscal Compliance Table data entries. MDE will be disabling its website at 10:00 P.M. on Wednesday, November 30, to install a redesigned website. Districts and auditors are advised to log on to the website prior to 9:00 P.M. for November 30 data submissions.
Two documents attached to this e-mail summarize UFARS data submissions (as of November 28 and Fiscal Compliance Table data submissions as of November 29. Please check these lists to determine if data has been submitted for your district and whether there are any outstanding errors or discrepancies.
UFARS - All submission errors must be corrected. Warnings indicate potential errors and are not required to be cleared for a district’s UFARS submission to be completed. To be recognized as an “audited” data submission, the file header record status field must be changed from “U” to “A.”
Fiscal Compliance Table – There should be no discrepancies between the audit and UFARS revenues, expenditures, and fund balances, with the exception of select restricted/reserved accounts that are permitted to have a deficit for UFARS reporting. Because GASB Statement 54 does not allow reporting of negative restricted fund balances, there may be discepancies between fund balance amounts reported on the audited financial statement and the UFARS fund balances for these select restricted/reserved accounts; however, any differences must net to zero at the fund level.
The UFARS submission site will be closed on December 1; information on the process for approval to submit UFARS data after November 30 will be provided later. The Fiscal Compliance Table site will remain open through January 3, 2012, the statutory deadline for submission of audited financial statements to MDE. The location of data submission sites on the new MDE website which is scheduled to open December 1, will be School Support/ Data Submissions.
For assistance, please contact the Accounting HelpDesk at mde.ufars-accounting@state.mn.us .
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