OSC Alert 238
Approved by: Robert Jaros, State Controller
Issued: May 22, 2024
Subject:
- Refinance of Federal Coronavirus Recovery Funds Procedures
- Percentage of Employees Expected to Retire with PERA Benefits
- New Common Policy Lines in FY25
- FSU Schedule of Extended Year-End Coverage
Refinance of Federal Coronavirus Recovery Funds Procedures
Chapter 3, Section 9 was developed to set forth policies related to House Bill 24-1466, which covers the Refinance of Federal Coronavirus Recovery Funds. This chapter is available on the OSC's website as an addendum to the Fiscal Procedures Manual.
Percentage of Employees Expected to Retire with PERA Benefits
PERA's actuary provided the percentage of employees expected to retire with PERA benefits applicable to FY24. The percentages are 56.2% for State Division members other than State Troopers and 60.0% for State Troopers. Please use these percentages to develop compensated absences accruals as required by Chapter 3, Section 3.11 of the Fiscal Procedures Manual. The letter from PERA's actuary is included with this Alert to support the financial audit.
New Common Policy Lines in FY25
The FY25 Long Bill, HB24-1430, includes two new common policy lines. Similar to existing common policy lines, FSU is assigning specific funding source codes and spending authority indicators to each of the new common policy lines.
Step Pay lines will assigned funding source code P01. If a cabinet has more than one line for step pay, the second line will be assigned P02, the third will be assigned P03, etc. Spending authority indicator 51 will be added to CORE to use on pots transfer BGA transactions related to step pay.
Unfunded Liability Amortization Equalization Disbursement Payments replaces the former AED and SAED common policy lines. The new, combined line will be assigned funding source code P90. If a cabinet has more than one line, the second line will be assigned P91, the third will be assigned P93, etc. Spending authority indicator 50 will be added to CORE to use on pots transfer BGA transactions related to unfunded liability amortization equalization disbursement payments. Finally, the appropriation rollup names for this line will be shortened to "Unfunded Liability AED Payments" to assist DPA's reporting and avoid character limit issues in PB and CORE, but departments can elect to use any appropriation unit name.
FSU Schedule of Extended Year-End Coverage
July (Period 12 Close) 5:00pm-9:00pm
- Thursday, July 18, 2024: Specialist Jing Ye
- Friday, July 19, 2024 Close: Specialist Feicui Dong and Accountant Mohamed Mashkooke
August (Period 13 Close) 5:00pm-9:00pm
- Friday, August 2, 2024: Specialist Jennifer Henry and Accountant Jonathan De Jong
- Monday, August 5, 2024 P13 Close: Specialists, Jing Ye, Feicui Dong, Jennifer Henry, Daniel Saint and Accountants Mohamed Mashkooke, Demetria Chavez
August (Period 14 Close) 5:00pm-9:00pm
- Thursday, August 8, 2024: Specialist Feicui Dong, Daniel Saint and Accountant Demetria Chavez
- Friday, August 9, 2024: Specialists Jing Ye, Daniel Saint, Jennifer Henry and Accountant Jonathan De Jong
- Cutoff for document submission is 6:00pm