Local Checking Monthly Reporting

Reporting Checking Account Balances, Expenses and Income

Offices with checking accounts are to report the previous month's bank statement date, balance and total of expenses and total of income from that statement. As part of the new monthly reporting process required by the University for Workday, complete the form below by the 3rd Monday of each month and upload the bank statement by the 3rd Monday in the OneDrive folder for your county.  If you have any concerns about meeting this monthly reporting requirement based on when you receive your statements, please see the suggestions offered below.

Reconcile your totals against your bank statement to see if your balance matches the bank statement balance. We will use your monthly net income/expense to update our total cash balance for local checking accounts on the University's general ledger.

In June we will also collect a copy of your MAY statement, the bank name, location city, account#, and other information as required by the University for their annual external account reporting process.  If more than one checking account is open that will need reported at that time as well.

We understand that there are logistical challenges to obtaining bank statements while teleworking. If your fiscal steward is unable to obtain an electronic copy of the statements to send to the Office Associate, please work with Jesse Buxton and Vickie Snyder to explore options. Here are some suggestions:

  1. If the fiscal steward (OR whoever it is that opens the bank statements) isn’t in the office on the same days you are- then you could Zoom with them and in their view open the bank statement and hold it up to the camera so they can see the balance- or vice versa- then you can proceed with filling in the webform and they can review and initial later and whichever one can reconcile it when they are in
  2. Ask a ‘signer’ on the account to call the bank for an email copy sent to them, then they in turn email it to you. This may cost your county around one dollar or so for the copy, but this would be fine to have expensed directly from your account
  3. Ask the fiscal steward of your county to proceed with online access so a statement can be obtained and emailed to you for upcoming months

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If the 12-month average balance is over $20K a check needs sent to Columbus for deposit in the Miscellaneous Fund.

Extension policy requires that bank balances be less than ANNUAL average of $20,000.00. IF the annual average amount is greater than $20,000, deposit money into your University Miscellaneous Designated Fund. Write the check to The Ohio State University, send with the Extension Deposit Transmittal Form to Dawnn Brown (address on the form) then send a copy of the deposit form only to snyder.252@osu.edu. Deposit using RC1186 for Revenue Category, the description "Reduce local checking account balance". 

UNIT INFORMATION:

OSU Extension ________________ County/Office

 
1 Start 2 Complete
type one-word county/office name- the rest is provided!
Please include CC
Please include BL
Only the total of expenses that show on the previous month statement, do not count outstanding checks. Enter a 0 if none.
Only count the income that shows on the previous month statement, do not count any outstanding deposits. Enter a 0 if none.
Date of the last activity of previous month. (Last transaction date.)
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