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Phase I. IMPLEMENTATION - REPLICATING THE PRIOR YEAR
PROVIDE PRIOR YEAR FINANCIAL DATA
Client provides general ledger exports in an electronic format for the
  • Year to date revenues
  • Year to date expenditures
  • Balance sheet
  • Final budget
  • Original budget
  • GASB adjustments
GENERATE CUSTOM DATABASE
Thales Consulting sets up the prior year database with the general ledger exports provided. In this step, Thales Consulting will
  • Map the general ledger exports to the financial statements (trial balance, revenues, expenditures & budget)
  • Post rounding adjustments
  • Post closing entries (if required)
  • Review the formatting for financial statements
  • Attempt to reconcile...rephrase
Upon completion of this step, a draft of all financial statements will be available for an online review. In the online review, the client can see how the financial statements are rolled up, along with all of the adjustments that were made.
REPLICATE PRIOR YEAR FINANCIALS
Thales Consulting inserts the textual content for the CAFR. This includes the MD&A, Notes and Statistics. Formatting may vary depending on the scope of the implementation.
REVIEW FINANCIAL DOCUMENT
Thales Consulting comes on site to review any reconciliation or formatting items. This visit also will provide training to the client for using CAFRONLINE.

Phase II. - CREATING THE CURRENT YEAR
PROVIDE FINANCIAL DATA
Client provides general ledger exports in an electronic format for the
  • Year to date revenues
  • Year to date expenditures
  • Balance sheet
  • Final budget
  • Original budget
UPDATE CUSTOM DATABASE
Thales Consulting updates the current year database with the general ledger exports provided. In this step, Thales Consulting will
  • Map any new accounts to the financial statements (budget also) per client instructions Post rounding adjustments
  • Post closing entries (if required)
  • Review the formatting of all financial statements
  • Run major fund tests
  • Reconcile imported numbers to the general ledger exports provided
Upon completion of this step, a draft of all financial statements will be available for an online review. In the online review, the client can see how the financial statements are rolled up, along with all of the adjustments that were made.
REVIEW FINANCIALS
Responsible parties review & adjust the draft financial statements, and update the Notes and MD&A.
POST ADJUSTMENTS
The general ledger exports provided can be adjusted at any time. Adjustments can be made to the modified or full accrual basis. Posted adjustments automatically flow to appropriate financial statements and their associated linked values in the MD&A, Notes & Statistics.
UPDATE DOCUMENT TEXT
All content related to the report is available online. Responsible parties can update the text of the Introduction, MD&A, Notes and Statistics at any time.
GENERATE DOCUMENT
Export the entire annual report to a single .pdf or Word document.