SI 02901.520 Financial Accountability Statement - Form SSA-8700
A. Description of Process
1. FINANCIAL ACCOUNTABILITY
SSA will submit an original and two copies of the Financial Accountability Statement, Form SSA-8700, to each State for which it administers a supplementary payments program about the fifteenth workday after the close of each month. The Statement will indicate the balance of State cash in the SSA Deposit Fund at month's end and provide information pertaining to SSI disbursements to State recipients.
2. ACCOUNTING METHOD
SSA will give monthly case-by-case accounting data on a magnetic tape for the amounts reported as Automated Payments, Overpayments Withheld, One-Time Payments, Emergency Payments, Cancelled Checks, Cash Refunds, Posteligibility Adjustments, Unnegotiated Checks, and Double Check Negotiations. This accounting data will be identified as the Financial Accounting Exchange ( FAX). For detailed information concerning FAX, refer to section SI 02901.700 ff.
Any questions or problems concerning the monthly statement should be directed to the ARC, Programs or designee.
B. Operating Policies
1. SSA-8700 LINE ITEMS
The following describes the line-items contained in the Financial Accountability Statement - Form SSA 8700 (see SI 02901.725 B).
a. Status of State Cash - Section A
Line A 1. Cash on Hand Beginning of Period
The total amount of State cash on hand at the beginning of the report period including all of the State funds on deposit.
Line A 2. State Receipts
The total amount of all State funds received during the reporting period.
Line A 3. Adjustments
Any adjustments to the cash account which have not been reflected in line 5 below. Included will be adjustments from settlements negotiated between the Secretary of Health and Human Services and the State or resulting from decisions rendered on State appeals in accordance with the provisions of the disputes clause of the State Supplementation Agreement. Appropriate reference will be made in the “Remarks” section to cite the basis for these adjustments.
Line A 4. Funds Available
The sum of lines 1, 2, and 3.
Line A 5. Net Disbursements
The State's net fiscal liability for cash disbursements during the reporting period for State supplementation payments made to State recipients. Included in this figure will be the State's share of credits resulting from cancelled checks and recoupments. State liability for net disbursements during the report period is detailed in section C of the report.
Line A 6. Cash on Hand End of Period
Line 4 minus line 5. The cash balance at the end of the period will be reflected as the opening cash balance on line A.1. of the report for the following month.
b. Net Federal Disbursements - Section B
The net dollar amount of basic Federal SSI benefits paid to all recipients within the State during the reporting period.
c. Disbursement Summary, Fiscal Year to Date - Section C
Line C 1. Automated Payments
Consists of automated forced payments, one-time payments, and system calculated payments. System calculated payments represent amounts due recipients before deductions for advanced payments or before Federal and State amounts withheld for prior overpayments.
Line C 2. One-Time Payments
The total amount of manual one-time payments made in the reporting period.
Line C 3. Emergency Payments
The total Federal amount of emergency advanced payments and immediate payments made to recipients for the reporting period less payments collected from recipients for the period.
Line C 4. Posteligibility Charges
The net undercharges paid and debited in the reporting period. Posteligibility adjustments represent corrections to previous payment distributions as a result of processing a posteligibility action. A posteligibility action can result in a paper transfer which is a redistribution of funds between a Federal and a State account or between State accounts. Since charges and credits between accounts in such cases are always equal, the net result is always “zero.” Other posteligibility adjustment actions can result in an underpayment being due the recipient. These payment distributions are reported in line C.1 above.
Line C 5. Double Check Negotiations
The total amount of current and prior fiscal year double check negotiations resulting during the reporting period.
When the Treasury Department is notified by the field that a recipient did not receive a regula