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How to Fix an Ending Fund Equity Error

Instructions

To correct this error, click on the fund number to see summarized trial balance information.

Step One

Often the district has simply forgotten to enter the ending fund equity on the balance sheet. Please click on a fund number to see a summarized trial balance. Verify that the district has entered an ending fund equity on the balance sheet for each fund.

Step Two

Verify that ending assets, ending liabilities and ending fund equity reported on SAFR agree to the balance sheet (assets, liabilities and fund equity) generated by the district's accounting system.

Step Three

If several accounts are either missing or incorrect, use the Enter Data function on the left nav bar. In the search box, type "10B-002." All ending balance sheet accounts in Fund 10 available will appear for correction or entry--simply enter the amounts in the live boxes. When you are finished, click on the "Save" button at the bottom of the page. If you have a lot of data to enter, you may wish to click "Save" more often. Repeat for the remaining funds in error.

For questions about this information, contact dpifin@dpi.wi.gov (608) 267-9114