F-197 Reconciliation Made Manageable - Recording-PPT - F-197 Reconciliation Made Manageable

PPT - F-197 Reconciliation Made Manageable

Pdf Summary

This presentation, “F-197 Reconciliation Made Manageable,” was given by Barb Piguet, formerly of Auburn School District and now retired. It explains the purpose and process of reconciling the F-197 report for audit purposes.<br /><br />The F-197 originates from OSPI and has historical roots dating back to the 1970s for state legislature reporting. The presentation notes that reconciliation is tied to WAC 392-123-132, which requires reconciling to the county. Although the speaker suggests F-197 reconciliation is not always required and may seem to have limited standalone value, it helps move the audit process forward.<br /><br />A major focus of the presentation is designing a spreadsheet specifically for audit reconciliation. The spreadsheet should use the SAO form, be modified to fit district needs, and align with Qmlativ module processes. Key practices include posting third-party cash receipts through the Cash Receipting module, making adjustments or corrections in the module, and ensuring the trial balance is fully reconciled.<br /><br />The presentation outlines the data needed for the spreadsheet, including:<br />- Preliminary F-196<br />- General Ledger<br />- Total Revenues<br />- Total Expenditures<br />- King County Comptroller’s Report<br /><br />It also references a specific GL report, GL_RPT_030, including impact fees. Variances are identified by running saved reports, reviewing journal entries, and manually entering discrepancies into the Excel spreadsheet.<br /><br />Overall, the session provides a practical workflow for using spreadsheets and district accounting reports to complete F-197 reconciliation efficiently and support the audit process.

Keywords

F-197 reconciliation

audit purposes

OSPI report

WAC 392-123-132

spreadsheet design

Qmlativ module

Cash Receipting

trial balance

General Ledger

King County Comptroller