(Revised and Renumbered from 7900 03/02)

 

The accuracy of an agency's accounting records may be proved partially by making certain reconciliations and verifications.  Reconciliations must be completed between the agency accounts and the accounts maintained by the SCO to disclose errors as they occur.  Corrections to errors should be made before financial reports are prepared to partially ensure the accuracy of an agency's financial reports.  Properly prepared reconciliations also help to audit the agency's accounting records.

 

All reconciliations will be prepared monthly within 30 days of the preceding month, with the exception of property reconciliations.  See SAM Section 7924.

 

All reconciliations will be retained at least two years.  Thereafter, destroy after audit or four years, whichever occurs first.