Fiscal Management Manual - New York City

Department for the Aging

Fiscal Management Manual

August-05

Revision Number

CITY OF NEW YORK DEPARTMENT FOR THE AGING

FISCAL MANAGEMENT MANUAL

REVISION CONTROL SHEET

Date of Revision

Chapters Included

TABLE OF CONTENTS

Page

1. Introduction 1.1. Introduction ..............................................................................................................1-1 1.2. Organization of Manual ...........................................................................................1-1 1.3. How to Use the Manual............................................................................................1-1 1.4. Update Procedures ...................................................................................................1-1 1.5. Who to Call with Questions .....................................................................................1-2 1.6. User Comments........................................................................................................1-2 User Comments Form ......................................................................................................1-3

2. Budget Management 2.1. Introduction ..............................................................................................................2-1 2.1.1. Purpose of the Budget ...................................................................................2-1 2.1.2 Outline for Preparing a Budget ......................................................................2-1 2.2. Budget Categories ....................................................................................................2-3 2.2.1. Revenue Categories.......................................................................................2-3 2.2.2. Line Item Expenditure Categories.................................................................2-4 2.2.3. Equipment and Renovations..........................................................................2-6 2.2.4. One-Time Payments......................................................................................2-6 2.2.5. Cost Centers ..................................................................................................2-6 2.2.6. Administrative Costs .....................................................................................2-7 2.2.7. Summary of Resources..................................................................................2-7 2.3. Budget Process .........................................................................................................2-8 2.4. Budget Revisions and Amendments ......................................................................2-10 2.4.1. Revisions .....................................................................................................2-10 2.4.2. Required DFTA Approval...........................................................................2-10 2.4.3. Amendments................................................................................................2-11

3. Accounting and Internal Control 3.1. Introduction ..............................................................................................................3-1 3.1.1. Accounting Records .......................................................................................3-2 3.2. Definition of Internal Control ..................................................................................3-3 3.2.1. General Requirements for Internal Control....................................................3-4 3.3. Bank Reconciliations/Petty Cash .............................................................................3-5

TABLE OF CONTENTS (CONT.)

Page

3.3.1. Introduction ....................................................................................................3-5 3.3.2. Control Objectives For Bank Reconciliations/Petty Cash .............................3-5 3.3.3. DFTA Accounting and Internal Control Requirements

for Bank Reconciliation/Petty Cash .............................................................3-5 3.4. Cash Receipts .........................................................................................................3-11

3.4.1. Introduction ..................................................................................................3-11 3.4.2. Control Objectives for Cash Receipts ..........................................................3-11 3.4.3. DFTA Accounting and Internal Control Requirements

for Cash Receipts .......................................................................................3-12 3.5. Cash Disbursements ...............................................................................................3-17

3.5.1. Introduction ..................................................................................................3-17 3.5.2. Control Objectives for Disbursements .........................................................3-17 3.5.3. DFTA Accounting and Internal Control Requirements

for Disbursements ......................................................................................3-20 3.6. Payroll ....................................................................................................................3-23

3.6.1. Introduction ..................................................................................................3-23 3.6.2. Control Objectives For Payroll ....................................................................3-23 3.6.3. DFTA Accounting and Internal Control Requirements

for Payroll...................................................................................................3-25 3.7. Equipment Inventory..............................................................................................3-26 3.7.1. Introduction ..........................................................................................................3-26

3.7.2. Control Objectives for Equipment Inventory...............................................3-26 3.7.3. DFTA Accounting and Internal Control Requirements

for Equipment Inventory Management and Disposition ............................3-27 3.8. Close-Out Procedures.............................................................................................3-32

3.8.1. Introduction ..................................................................................................3-32 3.8.2. DFTA Accounting and Internal Control Requirements

for Close-Out Procedures for the Fiscal Close of the Budget Year................................................................................................3-32 3.8.3. DFTA Accounting and Internal Control Requirements for Close-out Procedures Upon Contract Termination ..............................3-35

Department for the Aging Fiscal Management Manual

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TABLE OF CONTENTS (CONT.)

Page

4. Bookkeeping Procedures 4.1. Introduction ..............................................................................................................4-1 4.2. Chart of Accounts ....................................................................................................4-2 4.2.1. Purpose ...........................................................................................................4-2 4.2.2. Summary of Chart of Accounts......................................................................4-2 4.2.3. Detailed Account Descriptions.......................................................................4-5 4.3. Primary Books of Accounts ...................................................................................4-13 4.3.1. General Ledger.............................................................................................4-13 4.3.2. Trial Balance ................................................................................................4-15 4.3.3. Cash Receipts and Cash Disbursements Journals ........................................4-16 4.3.4. General Journal ............................................................................................4-21 4.4. Allocation of Program Costs to Service Cost Centers ...........................................4-23 4.4.1. Purpose .........................................................................................................4-23 4.4.2. Allocation Methodology ..............................................................................4-25 4.4.3. Allocation of Personnel Costs ......................................................................4-30 4.4.4. Allocation of Non-Personnel Costs (OTPS) ................................................4-50 4.4.5. Administrative Costs ...................................................................................4-56 4.4.6. Program Contribution Revenues/Expenditures............................................4-56 4.4.7. Program Interest Income ..............................................................................4-57 4.4.8. Cost Allocation Case Study..........................................................................4-58 4.5. Allocation of Satellite Site Costs ...........................................................................4-81 4.6. OMB Circulars .......................................................................................................4-82

5. Processing of Claims to DFTA 5.1. Introduction ..............................................................................................................5-1 5.1.1. General Procedure ..........................................................................................5-1 5.1.2. Invoice Documentation Requirements ...........................................................5-1 5.1.3. Submission Requirements ..............................................................................5-3 5.1.4. The Invoice Package ......................................................................................5-4 5.1.5. Error Correction Procedures...........................................................................5-6 5.1.6. Correspondence..............................................................................................5-7

Department for the Aging Fiscal Management Manual

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