CAFR Closing Packages
What is a Closing Package?
Closing Packages are used to report year-end information for the State's Comprehensive Annual Financial Statements (CAFR). Each closing package:
- Deals with a single area of accounting data.
- Requires that certain agencies complete forms to report year-end adjustments needed for GAAP.
- Agencies complete closing packages for June 30 data only (including the effect of amounts Applied Back to June).
- Agencies complete only the closing packages that apply to them--not all packages. A Closing Package Control Checklist makes it easy for agencies to determine which packages apply to them.
The Closing Process for Agencies
- The annual GAAP closing process begins June 30 with the end of the fiscal year. Each agency will need to submit a CAFR checklist and return it to OMB, to determine which closing packages will need to be completed. OMB will notify the agencies to let them know which closing packages need to be completed.
- Agencies can begin to complete some of the closing packages soon after June 30. They may not be able to complete others until August and September.
- Due dates of the closing package forms vary. The following schedule summarizes these due dates. The Office of Management and Budget suggests that agencies complete the packages in the order shown on the below schedule.
- Remember that each agency should complete only the forms that apply to their funds.
Instructions and Guidance
- GAAP Closing Manual (1.0Mb pdf)
- GAAP Closing Manual for Special Government Units (1.66Mb pdf)
- PeopleSoft Queries for the CAFR (44kb pdf)
- Grant Receiveable/Deferred Revenue Closing Package Worksheet (22kb pdf)
Submitting the Completed Closing Packages
- Completed Closing Packages need to be emailed to CAFR@nd.gov. The closing packages need to stay in Excel format, please do not return the closing packages in paper or pdf.
- The Closing Packages found on the link below are in order by due date. Click the name of the Closing Package you wish to complete and the form will open in Excel format (Workbook ‘Xlsx’ version). If your Excel is not compatible with this version please notify, Renee Nelson at firstname.lastname@example.org or (701) 328-2680.
- OMB is here to assist the organizations in the state with preparing the Closing Package information. For assistance please contact, Renee Nelson at email@example.com or (701) 328-2680.