CUBS Additional Clarification

Discuss questions around local unit policies for budgeting, reconciling, etc. This forum should not contain specific financial or membership information.
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jeromer7
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Joined: Thu May 17, 2007 12:46 pm
Location: Bellevue, Nebraska

#31

Post by jeromer7 »

The SFS hasn't yet arrived in the Heartland.
JLR
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aebrown
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Joined: Tue Nov 27, 2007 8:48 pm
Location: Sandy, Utah

#32

Post by aebrown »

DJC wrote:The attached pdf file has been created to hopefully clarify a couple of questions that are coming in concerning the CUBS transition from calls and this forum. This document will also be sent via email to stake clerks.
I have also turned this into a wiki article: CUBS additional clarification‎‎.
Questions that can benefit the larger community should be asked in a public forum, not a private message.
bozz
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Audit, other account

#33

Post by bozz »

We are doing the first audit under CUBS. The other account balance in the unit doesn't match the finanical statement 12-31. I can't find any reason why. I've looked back at the old july statement and that amount is wrong. What to do? this is the first unit being audited and I think we're going to have this problem in other units. any help
crislapi
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Location: USA

#34

Post by crislapi »

There is a CUBS bug that may be affecting the MLS balance of Other (and budget, but you don't have to reconcile budget). This bug needs to be taken into account for you to successfully reconcile the account AND not send the ward on a wild goose chase.

You basically need to identify the amount of the erroneous balance and then add that as a known difference so that your unknown difference is $0.

I have done the following:
Run I&E on Other using date range 1 Jan 2010 - 20 Oct 2010
Make note of the balance.
Look at Oct 1 - Oct 19 2010 financial statement
Make note of the remaining balance in Other.

The difference between these two amounts is the amount this CUBS bug is affecting your Other balance. Make note of it and enter this in the same section you would an outstanding check in the Other reconciliation form.
atticusewig
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Posts: 308
Joined: Fri Jan 19, 2007 9:48 am

#35

Post by atticusewig »

crislapi wrote:There is a CUBS bug that may be affecting the MLS balance of Other (and budget, but you don't have to reconcile budget). This bug needs to be taken into account for you to successfully reconcile the account AND not send the ward on a wild goose chase.

You basically need to identify the amount of the erroneous balance and then add that as a known difference so that your unknown difference is $0.

I have done the following:
Run I&E on Other using date range 1 Jan 2010 - 20 Oct 2010
Make note of the balance.
Look at Oct 1 - Oct 19 2010 financial statement
Make note of the remaining balance in Other.

The difference between these two amounts is the amount this CUBS bug is affecting your Other balance. Make note of it and enter this in the same section you would an outstanding check in the Other reconciliation form.
Just to clarify, is the "remaining balance in Other" on the Oct 1-19th Statement
the "Ending Balance" or the "Net Available Funds" in the Other Account ?
I remember reading that CUBS treats one differently from the other.

Thanks,
Atticus
allenjpl
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Location: Las Vegas, NV, USA

#36

Post by allenjpl »

bozz wrote:We are doing the first audit under CUBS. The other account balance in the unit doesn't match the finanical statement 12-31. I can't find any reason why. I've looked back at the old july statement and that amount is wrong. What to do? this is the first unit being audited and I think we're going to have this problem in other units. any help

Check to make sure all of your deposits have been properly recorded. On ours, we had a deposit in December that was listed as having been received by the bank, but not submitted to CHQ. That deposit contained a donation to one of the Other:AMFA subcategories, so because CHQ had no idea where the funds were supposed to have gone, the Other balance in the statement was off. I contacted LUS, and they had me resend the donation in question. I've made a note on the audit balance sheet. I hope that works for the audit.

On a side note, did the Other account balance in your semi-annual audit? That audit should have covered Jan 1-Jun 30, 2010, which should narrow down the range of transactions you need to search through.
crislapi
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Joined: Mon Jul 07, 2008 4:05 pm
Location: USA

#37

Post by crislapi »

atticusewig wrote:Just to clarify, is the "remaining balance in Other" on the Oct 1-19th Statement the "Ending Balance" or the "Net Available Funds" in the Other Account ?
I remember reading that CUBS treats one differently from the other.
In this case, it should probably be "Net funds available"
This is the one that removes the funds that would be used to cover any outstanding checks. MLS would have already deducted the funds.

Thanks for catching that.
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