(Revised 03/02)

 

Agencies normally make two types of reconciliations: (1) reconciliation of agency accounts with records other than those prepared by the agency, such as reconciliation of account balances as shown in the agency's books with accounts in the centralized State Treasury System (CTS); and (2) reconciliation of two or more accounts or other records kept by an agency (such as reconciliation of Office Revolving Fund assets to the amount withdrawn).

 

SAM Sections 7921-7924 provide some common reconciliations.  However, each agency is responsible to complete any reconciliation necessary to safeguard the State's assets and ensure reliable financial data.