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Accounting & Financial Reporting

Annual Fact Sheets for Self-Supporting Funds and Certain Health Service Plan Funds

Overview

Fact Sheets are a year-end tool used to report information related to accrual, deferral, and/or inventory adjustments as of June 30 for self-supporting funds and certain health service plan funds to ensure proper financial reporting at year-end. University Accounting & Financial Reporting (UAFR) will review each Fact Sheet and post the appropriate year-end adjustments to Banner.

A separate Fact Sheet is required to be completed and submitted for all self-supporting funds and certain health service plan funds. Any accrual, deferral, and/or inventory adjustments which are not recorded in the unit's normal accounting processes must be reported on the Fact Sheet to ensure that Banner accurately reflects the fund's financial condition as of June 30.

Critical Dates

 

Year End Fact Sheet Application

As stated previously, a separate Fact Sheet must be submitted for all self-supporting funds and certain health service plan funds. 

In order to create, complete, and submit a fact sheet of your applicable funds, log in to the Year End Fact Sheet Application in the link below:

Year End Fact Sheet application will be opened on July 1, 2020 at 7am

Fact Sheet Excel Attachment

The Fact Sheet Excel Attachment has separate tabs for the various types of accrual, deferral, and/or inventory adjustments which may be needed for your fund. These include accounts receivable, inventory for resale, publications, inventory for resale, prepaid expenses, accounts payable, and unearned revenue.

If your fund requires any accrual, deferral, and/or inventory adjustments for year-end, then:

  1. Download the FY20 Fact Sheet Excel Attachment;
  2. Review each tab of the attachment to obtain an understanding of the type of information required;
  3. Complete the tab(s) applicable to your fund and save the file for your records;
  4. Upload the completed attachment to the Fact Sheet;
  5. Save your changes; and
  6. Submit the completed Fact Sheet.

The Fact Sheet Excel Attachment is able to properly calculate any accrual or deferral adjustments which cross fiscal years, so keep this in mind when entering in your applicable data. There is no need for you to try and calculate the split between the two years on your own. The Fact Sheet Excel Attachment is smart enough to do this for you, as long as the appropriate date ranges are entered.

Each August, UAFR uploads the new fiscal year’s Fact Sheet Excel Attachment to this page. The updated attachment can be used to track information related to these accruals and deferrals as they occur throughout the year (for example, when unearned revenue is received or when prepaid expenses are incurred). We strongly encourage tracking these items throughout the year as this helps make year-end reporting for the Fact Sheets more efficient and effective.

See below for a downloadable copy of the Fact Sheet Excel Attachment for the current fiscal year.

FY20 Fact Sheet Excel Attachment

Training Resources

See below for various training resources available which will help you properly complete your Fact Sheet Excel Attachment.

Coming Soon:

  • Publication Inventory for Resale Reference Tool
  • Prepaid Expense Reference Tool
  • Accounts Payable Reference Tool
  • Unearned Revenue Reference Tool

Webinars and Open Labs are scheduled to assist departments with the application and information requirements.

 

 

For any remaining questions regarding Fact Sheets, contact the Fact Sheet experts from the UAFR "Who to Ask" list.

Last Updated: May 21, 2020

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