The following sequence of steps should be completed at the end of each fiscal year. You should continue to add items received prior to July 1 to the system before using this procedure. If items were ordered prior to June 30, but are not received until after June 30th, they will need to be posted in the next fiscal year. You can continue to add items to the pending file even though they may not be posted in EIS until next year.
If the depreciation data has been changed so that it is necessary to completely recalculate the life-to-date depreciation (LTD) from the beginning for several items, you may need to run the program EISDEPR. Just note that running EISDEPR will affect items that have had improvements (additional ACQTRN’s) added to them causing them to lose their true depreciation history. *Contact your ITC for further assistance”.
1. Districts with a Dollar and Life Limit specified for the capitalization criteria may choose to run an EIS304 Brief Asset Listing to verify all items meeting the dollar and life limit capitalization criteria are on file as capitalized assets. When running the EIS304, only non-capitalized items should be selected as well as selecting only items with an original cost equal or higher than the capitalization threshold. The report will display a listing of items that currently are not capitalized but exceed the $ threshold. Review the tags in question to verify that the life expectancy is under the life limit threshold and therefore should not be capitalized. If you find tags that meet or exceed the life limit, you may contact your ITC to help determine why they aren’t being capitalized.
2. Run any fiscal year-end reports desired. The following are suggested:
- EIS101 Schedule by Source
- EIS102 Schedule by Function/Class - All Options (summary & detail)
- EIS103 Change Schedule (Only if on GAAP): The following 103 reports are recommended
- EIS103CL Schedule of Changes in Fixed Assets by asset class (summary & detail)
- EIS103FC Schedule of Changes in Fixed Assets by function (summary & detail)
- EIS103FD Schedule of Changes in Fixed Assets by fund (summary & detail)
- EIS104 Depreciation Change Schedule (Only if on GAAP): The following 104 reports are recommended
- EIS104CL Schedule of Changes in Depreciation by asset class (summary & detail)
- EIS104FC Schedule of Changes in Depreciation by function (summary & detail)
- EIS104FD Schedule of Changes in Depreciation by fund (summary & detail)
- EIS303 Master Listing - All Items. Provides you with an updated master list of your fixed assets. This report is an optional report and extremely large so we don’t recommend printing out a hard copy of the report
- EIS304 Brief Asset Reports: The following EIS304 reports are recommended. The five reports should include capitalized items only and Status Codes of “A, N, EH, and EN” (with the exception of the disposition report
- Brief Asset Listing sorted by fund
- Brief Asset Listing sorted by function
- Brief Asset Listing sorted by asset class
- Acquisitions for current fiscal yea
- Dispositions for current fiscal year
- EIS305 Book Value Reports: Provides you with necessary depreciation information. The date 06/xxxx (where xxxx is FY being closed) is used for the reporting date. The four reports should include capitalized items only. Enter Status Codes of “A, N, EH, and EN” for the full reports, and Status Code “D” for the disposition reports.
- Book Value Report sorted by function
- Book Value Report sorted by class
- Depreciation for current FY dispositions by function
- Depreciation for current FY dispositions by class
- EIS401 Values for Insurance Report. Recommended if the district maintains current replacement cost and/or insurable values on the inventory item records.
- EIS801 Official Audits Report. Recommended. Select the Official Audit Report to be kept on file for the auditors
3. After checking the EIS103 and EIS104, run the EISEMS program (Only if the EIS GAAP flag is turned on). EISEMS generates an EISEMS.SEQ file that needs to be included in Period H EMIS submission. A summary report is also generated.
4. Execute the EISCD procedure if configured by your ITC. This procedure will generate a standardized set of FYE EIS reports which can be made available to registered users online via a secure web site
5. Make a copy of the EIS data and other appropriate files.
6. Run the fiscal year-end closing program EISCLS. This program will update the life-to-date depreciation for the current fiscal year being closed. A summary report, EISDEP.TXT, of the current year’s depreciation posted by fund will be generated. The program will also update the fiscal year closed field on the EISMNT/DATSCN record. If the district is currently on GAAP, the program will also update the beginning balances for the new fiscal year and generate the report EISCLS.TXT.
7. If you are going to begin EIS GAAP reporting for the coming fiscal year contact your ITC. OTHERWISE you are ready to begin processing for the new fiscal year.
For those beginning on GAAP, your ITC will run a one-time GAAP program called EISGAAP which will set the EIS GAAP flag to “Y” on the EISMNT/DATSCN record and set the beginning balances for the new year. Do NOT perform any additional processing until your ITC has instructed you to continue