13-a-005 - Concurrent Period Processing (May 1, 2013)
|INFORMATIONAL CIRCULAR NO. 13-A-005|
|DATE:||May 1, 2013|
|SUBJECT:||Concurrent Period Processing|
|EFFECTIVE DATE:||May 1, 2013|
Interim State Comptroller
Martin Eckhardt, Director, Office of Audit and Assurance
(original signature on file)
Elimination of Concurrent Period Processing
The Department of Administration is changing statewide accounting practice by eliminating the concurrent processing period within SMART. This is being implemented to address audit findings and to reduce risk by improving the current level of statewide accounting system controls. Establishing this change as a best practice will assist the state in achieving defined monthly cutoffs, thus reducing system date and timing issues in monthly reconciliations.
We understand this will require agencies to plan ahead for processing that normally occurs during the crossover period from one month end to the beginning of the new month as well as the transition from old state and federal fiscal years to new state and federal fiscal years.
This change will be effective beginning with the month end closing for May, 2013.
This change will also affect the transition from the current fiscal year (FY 2013) to the new fiscal year (FY 2014). The annual informational circular (13-A-006) containing the fiscal year end processing instructions will be out soon and will reflect the elimination of the concurrent period within the schedule of key fiscal year closing dates.
For July through May in fiscal year 2014, the SMART General Ledger will close when month-end processing is completed. Generally this will be the morning of the first business day of the new month. Once the General Ledger is closed, the new month will be open for processing.
The concurrent period processing changes will be reflected soon in Policy Manual filing 14,002 on the Department of Administration’s website: http://www.da.ks.gov/ar/pm/pm14002.htm. Additional instructions will be provided at a later date for the closing of September and the transition between federal fiscal years.