legal reporting updates Nathanael Bryant, Financial Systems & Reporting Analyst Systemwide Financial Standards & Reporting, CO

YEAR-END LEGAL TRAINING APRIL 2016 YEAR-END LEGAL TRAINING Learning Objectives Review changes in Report 14 Provide legal reporting reminders Discuss key dates Inform participants about changes to key contacts

YEAR-END LEGAL TRAINING APRIL 2016 YEAR-END LEGAL TRAINING Report 14 Last year the state issued new requirements for Report 14. Report 14 and the related instructions can be found in Appendix 14 of the Legal Accounting and Reporting Manual: http://www.calstate.edu/SFSR/Y-E-R_Instructions/Legal-Manual/LegalManual/Appendix_14_Report_14_Template_rev2015-0715.xlsx.

YEAR-END LEGAL TRAINING APRIL 2016 YEAR-END LEGAL TRAINING Report 14 (cont.)

YEAR-END LEGAL TRAINING APRIL 2016 YEAR-END LEGAL TRAINING Report 14 (cont.) Reminder about last year’s changes to Report 14: Campuses need to report BANK balances and not book balances. Campuses do not need to report their share of the Pooled Investment Fund on Report 14 because this is done at a system-wide level by the CO.

YEAR-END LEGAL TRAINING APRIL 2016 YEAR-END LEGAL TRAINING Report 14 (cont.) Other reminders about content: Campuses need to report any other account they have opened up outside the State Treasury (e.g. escrow accounts). Campuses need to report the zero balances in the Wells Fargo account. If a campus has an account requiring collateralization, also include June 30 bank statement in submission. In addition, submit December 31 bank statement on February 1, 2017 (see Ch. 5 in Legal Accounting & Reporting Manual for submission instructions).

YEAR-END LEGAL TRAINING APRIL 2016 YEAR-END LEGAL TRAINING Report 14 (cont.) Things to remember about the submission of Report 14: The STO gets the signed original. The SCO gets a hard copy in the reporting package and an Excel version electronically transmitted. The DOF gets a hard copy.

What are the two new changes to Report 14? APRIL 2016 YEAR-END LEGAL TRAINING Report 14 (cont.) What are the two new changes to Report 14? Question

Where can Report 14 be found in the legal manual? APRIL 2016 YEAR-END LEGAL TRAINING Report 14 (cont.) Where can Report 14 be found in the legal manual? Question

Monthly FIRMS Submissions APRIL 2016 YEAR-END LEGAL TRAINING Monthly FIRMS Submissions Notification of monthly submissions (non-quarter-end months) File due no later than the 15th of the month. Two notification methods: “Notify CO” button if no edit errors. Via email to CO’s FIRMS contacts when the file contains errors. Email should assure the CO that there are no significant errors in the data and that they will be corrected by the end of the quarter.

YEAR-END LEGAL TRAINING APRIL 2016 YEAR-END LEGAL TRAINING If submission is clean, click here. Otherwise, email the error report.

YEAR-END LEGAL TRAINING APRIL 2016 YEAR-END LEGAL TRAINING SCO Legal Reporting SCO continues to remind us not to include in the SAM 99 electronic file (governmental fund financial data) information regarding funds that have neither current fiscal year activity, nor year-end balances. Include funds which: Have both current fiscal year activity and ending balances. Have current fiscal year activity, but no ending balances. Have no current fiscal year activity, but which have ending balances. Always transmit a fund with year-end accruals.

Legal Reports Submission Checklist APRIL 2016 YEAR-END LEGAL TRAINING Legal Reports Submission Checklist Appendix 13 is a list of the reports that campuses need to create and submit to complete the submission. This is a useful checklist to keep track of what reports need to be completed and where to send them. Appendix 13 can be found here: http://www.calstate.edu/SFSR/Y-E-R_Instructions/Legal-Manual/LegalManual/Appendix_13_Legal_Reports_Submission_Checklist_rev2015-0715.xlsx.

Other Legal Reporting Matters APRIL 2016 YEAR-END LEGAL TRAINING Other Legal Reporting Matters We are now asking campuses to round to the nearest dollar on all templates. Use the formula =round(A1,0), where A1 is the cell containing the number to be rounded.

Other Legal Reporting Matters (cont.) APRIL 2016 YEAR-END LEGAL TRAINING Other Legal Reporting Matters (cont.) Use the templates provided by the CO. Last year campuses used different versions of the templates. Old versions of templates do not always contain the same formatting. Old versions of templates make it more time- consuming for the CO to consolidate campus data.

Other Legal Reporting Matters (cont.) APRIL 2016 YEAR-END LEGAL TRAINING Other Legal Reporting Matters (cont.) All reports submitted to the CO are done via the State Reporting SharePoint site. The documents uploaded to SharePoint are: An identical copy of the report package submitted to the SCO. Submit in .pdf format. Non-governmental funds supplemental schedules. SCO GAAP schedules.

Other Legal Reporting Matters (cont.) APRIL 2016 YEAR-END LEGAL TRAINING Other Legal Reporting Matters (cont.) No changes have been made in automated or manual edits for the current year. However, pursuant to ICSUAM 2001.00, the review of fund designations has been expanded to all funds listed in the policy document.

We expect your legal submissions to be rounded to which decimal place? APRIL 2016 YEAR-END LEGAL TRAINING Legal Submission We expect your legal submissions to be rounded to which decimal place? Question

How does the CO want to be contacted for monthly FIRMS submissions? APRIL 2016 YEAR-END LEGAL TRAINING Legal Submission How does the CO want to be contacted for monthly FIRMS submissions? Question

YEAR-END LEGAL TRAINING APRIL 2016 YEAR-END LEGAL TRAINING Timeline Dates to remember: Weekly conference calls: June 14 – July 19 Interval for submission of SAM 99 test files to SCO: May 9th – June 6th (approximate) 4th quarter pre-close FIRMS submission for SFSR review: July 13th (noon) 4th quarter pre- and post- close FIRMS submissions for final acceptance by SFSR: July 15th (noon) Final due date for the SAM 99 file: August 1st

YEAR-END LEGAL TRAINING APRIL 2016 YEAR-END LEGAL TRAINING Contacts List located at the CSU Legal Accounting & Reporting Manual web page: http://www.calstate.edu/SFSR/Y-E-R_Instructions/legal-manual/index.shtml. Changes: Nathanael Bryant, joined the FIRMS team Michelle Baker and Alyssa Kanzaki are the new support contacts for the SAM 99 submission The contacts at the State Controller’s Office have changed – consult web page before calling SCO

YEAR-END LEGAL TRAINING APRIL 2016 YEAR-END LEGAL TRAINING Contacts (cont.) Your FIRMS team: Nathanael Bryant, nbryant@calstate.edu or (562) 951-4549 Roberta McNiel, rmcniel@calstate.edu or (562) 951-4668