The State Comptroller directs the daily operations of the Division of Central Accounting and Reporting (DCAR), which is responsible for establishing the policies and procedures for state financial transactions and for executing those transactions in accordance with the various state statutes, federal regulations, and governmental accounting and reporting standards.

• Central Accounting Unit:  Maintains the state central accounting system to ensure budgetary and financial compliance with laws and regulations through general ledger accounting and maintenance, payroll accounting, tax accounting and reporting activities, including processing of general ledger transactions for revenues and expenditures, cash allocations, centralized payroll tax and withholding payments, maintenance of employee earnings records, and issuance of year end tax forms, such as W-2 and 1099M.
• Transaction Processing Unit:  Performs audits and processes payments for the settlement of state expenditure claims and payrolls to ensure compliance with laws and regulations, custodian of expenditure documents and records, and maintains the state central vendor file.
• Financial Reporting Unit:  Prepares the State of Oklahoma comprehensive annual financial report as required by state law for use in analysis and decision making by state management, creditors and others; maintains reporting information for all agencies, funds, and component units included in the state reporting entity; and prepares the annual schedule of expenditures of federal awards.
• Agency Finance Office:  Provides shared services for various state agencies via contract to streamline and provide more efficient and effective back office finance functions, including budgeting, accounts payable and reporting.  OSF also provides shared services for procurement, human resources and payroll functions.

 New

Volume 19, FY-2008

DCAR Newsletter, Vol 19, No. 1, August 1, 2008 (doc)

Agency Clearing and ASA Reports
Journal Entries on Clearing and ASA Accounts
Required Transfers – Agency Clearing Accounts
Improper Use of Revenue Account 400000
Mileage Reimbursement Rate for 2008
Late Payment to Vendors – New Interest Rate for FY-2009
P-Card Issues for FY-2009
Voucher Batch Slips Submitted with Vouchers
Alternate and 700 Fund Agency Voucher Batch Slips
Updated Warrant Cancellation Instructions
Payments to OK Capitol Improvement Authority (OCIA)
The Oklahoma Benchmark for Finance
Pollution Remediation Obligations to be Reported for FY-2009/CY-2008
Federal Funding and Accountability and Transparency Act (FFATA) 

2007 Comprehensive Annual Financial Report

Late Payment To Vendors - New Interest Rate - FY 2009
The FY 2009 interest rate applicable to late payments to vendors has been set at 4.30% per annum, computed on a 360 day calendar, or $0.0119 per $100 per day, which will be in effect July 1, 2008 through June 30, 2009. This interest rate is provided by the State Treasurer based on the average interest rate for thirty day time deposits of State funds during the last calendar quarter of the last preceding fiscal year. (Titles 62, § 41.4a & 4b and 74, § 840.14. and OSF Prompt Payment Rules/Regulations)

OFMA Meeting
The next OFMA meeting will be held Thursday, July 10, 2008 at 1:30 in the Concourse Theater. Details about the next meeting and how to register are attached for your convenience.

Mileage Reimbursement Rate for 2008
The Internal Revenue Service has announced an increase in the mileage reimbursement rate to $0.585 per mile, effective July 1, 2008. This is an increase from the $0.505 rate for the first half of the year. (See Internal Revenue Bulletin IR-2008-82, June 23, 2008, amending Internal Revenue Procedures 2007-70). The new rate is for travel incurred on and after July 1, 2008 through December 31, 2008.

Previous Mileage Statement

The Internal Revenue Service has announced an increase in the mileage reimbursement rate to $0.505 per mile, effective January 1, 2008. This is an increase from the $0.485 rate for 2007. (See Internal Revenue Procedure 2007-70, Internal Revenue Bulletin 2007-192, 11/27/07.) The new rate is for travel incurred on and after January 1, 2008, not your 2007 travel reimbursement claims submitted after January 1st.

HB 1114 - QEL Payroll Instructions

Last week the Office of Personnel Management and the Office of State Finance issued procedures for implementing the provisions of the Oklahoma HB 1114 passed last session which permits executive branch state agencies to make direct payments not to exceed $5,000.00 in any 12-month period and $15,000 total on behalf of an eligible employee to any private or public entity for qualified educational loan (QEL) expenses. For more specific information on limits and restrictions please read the instructions at: OSF/DCAR newsletter website at or OPM 07-35 at: http://www.ok.gov/opm/All_Appointing_Authority_Memos/2007_AAA_Memos.html

A new earnings code, object code, deduction code, TRC code and a new vendor have been established for use with this permissible benefit. Please read the instructions at the links above.

IMPORTANT NOTES for CORE Users:
These reimbursement payments should be done with the ON-CYCLE payrolls, not on off-cycles.
For specific navigation and processing instructions for the CORE PeopleSoft payroll system go to the CORE HR webpage.   If you have any questions, please contact the OSF Help Desk at 405 521-2444.

Object of Expenditure Account Code Listing, 10/19/05 (doc)

Tax Information