SECRETS OF YOUR SUCCESS, YEAR END CLOSE Regan Linderman, Controller, CSU Stanislaus

Learning Objectives Brief overview of Stanislaus Share successes of year end close Share opportunities for future success APRIL 2016YEAR-END LEGAL TRAINING 2

CSU Stanislaus Quick Facts Located in Turlock, CA in the heart of the Central Valley Established in acre campus with over 4,500 trees 9,000 students Semester campus Undergraduate/Graduate/Doctorate Stockton Center Satellite campus Shared Services Model for Financial Services – University and Auxiliary Accounting are combined, all Auxiliaries utilize PeopleSoft APRIL 2016 YEAR-END LEGAL TRAINING 3

CSU Stanislaus – Keys to Success Build a Foundation Early Planning Feedback APRIL 2016YEAR-END LEGAL TRAINING 4

CSU Stanislaus – Keys to Success Foundation  Maintenance - Annual review of all PeopleSoft chart fields for active/inactive status, regular maintenance during the year  Monthly Review – Full Trial Balance review at SCO Fund/CSU Fund/PS Fund/FIRMS Object/Campus Account level  Monthly Reconciliation – All balance sheet accounts and at fund level for certain funds  Training – Weekly Legal Manual reading assignment with discussion and question training session for management and key staff  Regular communication with Chancellor’s Office and utilization of CO resources for questions, assistance, and training APRIL 2016YEAR-END LEGAL TRAINING 5

CSU Stanislaus – Keys to Success Planning  Early communication to campus of key deadlines (February)  Robust year end check list with tasks starting as early as March that notes interdependency relationship of tasks where possible  Planning and coordination meetings with all key areas that have input into year end results (Facilities, Grant Post Award, Student Financials, Financial Aid, Cashiering, Accounts Receivable, Accounts Payable/Travel, General Accounting, Purchasing, Auxiliary Accounting) APRIL 2016YEAR-END LEGAL TRAINING 6

CSU Stanislaus – Keys to Success Planning  Early planning with Auxiliary Enterprises on reserve designations (discussions start in May for projected reserves)  Deadlines that allow cushion for review and error correction  Daily Trial Balance review during critical week prior to legal submission to ensure data integrity and identify potential errors  Direct coordination with Auxiliary Accounting on all interdependent items (i.e. outstanding billings, related party transactions, conflicting deadlines) APRIL 2016YEAR-END LEGAL TRAINING 7

CSU Stanislaus – Keys to Success Feedback – close the loop  Post close review meeting with all year end close contributors to review successes and opportunities to improve  Future Success - Commitment of management and staff to continuous improvement and goal of improving each year o Implementation of paperless reconciliation review - completed o Implementation of paperless journal entries preparation and review – in process o Ongoing review of monthly checklist o Legal and GAAP manual training – on-going o Cross training – on-going APRIL 2016YEAR-END LEGAL TRAINING 8

CSU Stanislaus – Secrets of our Success Questions? APRIL 2016YEAR-END LEGAL TRAINING 9