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How to Fix a Fund Out-of-Balance Error


Click on a fund number to review summarized trial balance information. At the top of the page, under the list of funds, click on "Revenues." Verify that total revenues reported on SAFR agree to the revenue and expenditure reports generated by the district’s accounting system. Note any missing or incorrect revenues.

Return to the top of the SAFR page. Click on "Expenditures." Again, verify that all expenditures reported on SAFR agree with the revenue and expenditure report generated by the district's accounting system. It will be easiest to search for errors by checking totals by function. Note any missing or incorrect expenditures.

Identify those accounts that are either missing or in error. If several accounts are missing or in error, use the Enter Data function on the left nav bar to quickly enter new amounts. Remember to save any changes by clicking on the "Save" button at the bottom of the page.

Fund 60

Any assets in Fund 60 should be offset by a liability account 60B-814000-002 "Due to Student Organizations" or 60B-818000-002 "Due to Parent Organizations."

Funds 91, 93 and 99

These funds should not have a fund balance. Any excess revenue over expenditures at the end of the year should be reported as deferred revenue xxB-816900-002 and recognized as revenue in the following year.

For questions about this information, contact (608) 267-9114