- Prepare the journal entry to record pooled endowment investment activity for the month.
- Verify that the Banner balance after the journal entry posts reconciles to the ending investment account statement.
- oCopy and paste data into reconciliation worksheet tab "FGRFAAC before entry."
- oVerify that ending balances in spreadsheets from broker tie to investment statement.
- oMake a copy of the prior month's reconciliation workbook for the current month.
- oCopy ending values by fund to the beginning value for the new month.
- oLook up the fees, investment income, and ending market values of each fund from the investment worksheets.
- oCalculate the unrealized gain/loss for each fund (ending – beginning – investment income – fees).
- oCreate the journal entry date from these calculations.
- oFormat the data for upload.
- oUpload the JV, leaving the entry "in process."
- oPrint out cover sheet.
- oAttach supporting documents.
- oSign coversheet and submit to a reviewer.
- oRun FGRFAAC Fund/Account Activity Report again with same parameters as above after entry has been approved and posted.
- oCopy and paste data into reconciliation worksheet tab "FGRFAAC after entry."
- oCalculate differences between Banner ending balances and investment ending balances.
- oInvestigate and correct any differences that are more than a few cents due to rounding.
- oPrepare the reconciliation worksheet with Banner and investment balances pulling from worksheets.
- oPrint and sign the reconciliation worksheet.
- oAttach the copies of the investment statement and FGRFAAC output after entry to the reconciliation worksheet.
- oSubmit reconciliation package to the Controller for review and approval.
- oFile approved reconciliation documents in BDM.
Fixed Assets Reconciliation
Fixed asset acquisitions are recorded manually in the audit roll forward schedule which provides calculations for recording depreciation expense.
Responsible position(s):
Required documents and access:
- Banner general ledger, fixed assets module
Frequency and timing: