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(FY 18)
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General Instructions
Checklists/Disclosures


General Instructions

SMART is a Web-Based database program written, maintained by the State Board for Community and Technical Colleges. It is the web-adapted version of the RUN1409 process in use by colleges since 1993. SMART uses uploaded FMS data to perform tests for specific accounting criteria. The results of these tests are reported in a series of Checklists.

SMART does not, and is not intended to, check all areas of accounting concern. It is a tool designed to analyze accounting data according to limited specific criteria. SMART should be used monthly during the fiscal year so errors can be correctly immediately. Its use at year-end is required.

Each page of the SMART Checklist is designed to look at a specific area of concern. For instance, revenue general ledgers 3205 and 3210 must be used with a source of revenue and should have credit balances. Therefore, there is a checklist page that displays any balances that fall outside those parameters.

The balances used are the balances from the last GA1409 report loaded into SMART plus any adjusting entries entered into SMART via the Adjusting Entry screen. The GA1409 Checklist pages are broken down into the five categories listed below which are based on the section of the GA1409 report used to find the balances.

1.  Summary Part A GA1409A General Ledger Report By Fund
2.  Expenditures Part B GA1409B Expenditure General Ledgers By Fund By Object/Subobject
3.  Revenue Part C GA1409C Revenue General Ledgers By Fund By Source
4.  Due To/From Part D GA1409D Due To/From Report By Fund By General Ledger By Subsidiary
5.  Other Part A,B,C,D Reviews multiple reports
6.  Misc Part D GA 1409D Lists inter-college payables and receivables.

Within each of these categories are checklist pages looking at specific areas of concern. Attached to each checklist page are more detailed descriptions of what the page is set up to accomplish.

Some pages have messages warning you that there MIGHT be a problem and that you need to review the data. If you determine the data is correct you do not need to correct these types of balances. Other pages have error messages that MUST BE CORRECTED before the end of the year. The description for the page will indicate if the error message must be gone before closing. If the description for a page says an error must be corrected by year-end that does not mean corrected in FMS before it closes, although that is the goal. You can correct any error after FMS closes by posting an adjusting entry in the SMART system.

During the year any problems identified by SMART can be corrected by making the adjusting entry into FMS. Any changes to FMS will be reflected when the revised FMS data is uploaded into SMART. It is possible to test a correcting entry by putting it into SMART via the Adjusting Entry screen. However, it is important to remember any adjusting entries posted to SMART will stay in SMART and affect all future reports until deleted from the adjusting entry module. After the FMS year-end closing process, only manual adjusting entries are allowed. All manual adjusting entries are posted to SMART using the Adjusting Entry screen.

Finally, after all adjusting entries are made, SMART is used to compile the disclosure statements required by OFM for preparation of the state's annual financial statements. These statements are found in the section titled Disclosure Forms. The State Board will notify all colleges of the deadline for completing all manual adjusting entries and disclosure forms. Because SMART is a web based process hosted at the SBCTC, it will no longer be necessary for colleges to submit their adjusting entries and disclosure forms in hard copy except for the state and federal signature pages. The state signature page is called the Financial Disclosure Certificate (due in August) and the federal signature page is called the Agency Federal Assistance Certification (due in December). These forms will be provided by SBCTC each year once they are finalized by OFM.

At the end of the year the following steps are recommended:

  1. Prior to final year-end close, review all Checklist Reports and prepare adjusting entries to correct all error conditions identified.
  2. After final FMS close, correct or adjust balances by making all manual adjusting entries on the Adjusting Entry Screen. ALL adjusting entries must be made through this system for it to work correctly. Even if you do not think it will affect a checklist page or disclosure form, put the entry into SMART.
  3. Complete and print state signature page. Obtain necessary signatures and mail to:
    State Board for Community and Technical Colleges
    Attn: Denise Nguyen
    PO Box 42495
    Olympia, WA 98504-2495.
  4. After all adjusting entries have been made, review the Checklist Reports to be sure all required entries are posted and that adjusting entries have not caused other unintended errors.
  5. Continue steps 2 & 3 until you have corrected all error conditions noted on the checklists.
  6. Review the disclosure form lead sheet and complete all disclosure forms required. Update the lead sheet as forms are completed.
  7. If you need to make more adjusting entries at this point, put them in the system, and review the checklist and disclosure pages again and make any adjustments required.

Instructions for Checklists and Disclosures can be found on each corresponding page.

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