La. Admin. Code tit. 4 § XIII-111

Current through Register Vol. 50, No. 11, November 20, 2024

Section XIII-111 - Quarterly Reporting of Accounts Receivable Overview and Policy Guidelines

A. Objectives

1. To establish a report that shows each state agency/department's accounts receivable balances and activities during the quarter as mandated by R.S 39:79.

2. To establish guidelines and procedures for the quarterly reporting as stated by Memorandum SA 96-45.

3. To ensure the quarterly reports are consistent and as accurate as possible.

4. To have uniformity of reporting for all state agencies/departments.

5. To ensure the timely reporting of the quarterly report as stated by Memorandum SA 96-45.

B. Procedures for Quarterly Reporting

1. Quarterly Activity (Form AR-1):

a. gross receivables and debt at end of quarter;

b. estimated uncollectible for the quarter;

c. net receivable for the quarter;

d. write-offs for the quarter.

2. Aging of Receivables (Form AR-12):

a. current receivables-do not include those past due;

b. past due receivables: 1-30 days;

c. past due receivables: 31-90 days;

d. past due receivables: 181 days-1 year;

e. past due receivables: over one year;

f. total receivables past due;

g. total gross receivable;

h. total gross receivables must equal gross receivables and debt at end of quarter reported on Form AR-1.

3. Collections Activity for Receivables over 180 days (Form AR-3):

a. amount over 180 days past due;

b. collections within the agency;

c. collections with attorney general's office;

d. collections with private collection firm;

e. collections- other (specify the type);

f. collections- under protest;

g. amount over 180 days past due must equal 181 days-one year and over one year total amount reported on Form AR-2.

4. Write-Off Disclosure (Form AR-4):

a. number of accounts, if applicable;

b. amount of the write-offs;

c. reason for the write-off;

d. the total write-off must equal write-off disclosure reported on Form AR-1.

5. Annual Comparison of Receivables (Form AR-5)

a. Major revenue source;

b. amount past due- prior year ending balance;

c. amount past due- current year ending balance;

d. increase/decrease;

e. percentage of change;

f. explanation given for each comparison variance on the bottom of the page designated as "Explanation" for each category.

C. Accounts Receivable Quarterly Reports

1. Quarterly reports starting with September 30, 2000 is available on OSRAP website:

http://www.state.la.us /osrap/index.htm

La. Admin. Code tit. 4, § XIII-111

Promulgated by the Office of Governor, Division of Administration, Office of Statewide Reporting and Accounting Policy, LR 28:2349 (November 2002).

AUTHORITY NOTE: Promulgated in accordance with R.S. 39:88.1 through 39:88.4 and Act 904 of Regular Session 2001.