SCO GAAP Submission Roberta McNiel and Su Chen, SFSR Chancellor’s Office Year-End GAAP Training April 18, 2014

SCO GAAP SUBMISSION General Information  Requirements set forth in Chapter 18 of GAAP Manual  Revised capital assets and accumulated depreciation template  New template: Detail of Pollution Remediation Obligations  Revised data integrity form (due to the CO September 8, 2014)  No change in other templates Templates due to the CO September 12, 2014 April 2014Year-End GAAP Training2

SCO GAAP SUBMISSION Templates  Located in TM1, SCO folder:  Breakdown of Statement of Cash Flows  Calculation of Net Investment in Capital Assets  Located in TM1, YES folder  Other Liabilities Detail  Excel templates, Systemwide Financial Standards & Reporting website -  Legal to GAAP Reconciliation (governmental funds only)  Reconciliation of Due To/From Accounts  Reconciliation of Transfers  Pollution Remediation Obligations Detail April 2014Year-End GAAP Training3

SCO GAAP SUBMISSION Templates (cont.)  Delivered by Chancellor’s Office for completion by campuses  Capital Assets and Accumulated Depreciation Worksheet and Depreciation Expense Schedule April 2014Year-End GAAP Training4

SCO GAAP SUBMISSION Capital Assets & Accumulated Depreciation Worksheet/Depreciation Expense Schedule beginning balanceadditions deletionstransfersending balance The SCO requires for each funding source the beginning balance, additions, deletions, transfers and the ending balance for both capital assets and the related accumulated depreciation. April 2014Year-End GAAP Training5 Did someone say “monster template”?

Capital Assets & Accumulated Depreciation Worksheet/Depreciation Expense Schedule (continued) The SCO template April 2014Year-End GAAP Training6 Going, still going.. What is the last column of the worksheet? Going, still going.. What is the last column of the worksheet?

Capital Assets & Accumulated Depreciation Worksheet/Depreciation Expense Schedule (continued) New CSU template for FY April 2014 Year-End GAAP Training 7 Does this look familiar to anyone?

April 2014Year-End GAAP Training 8 Capital Assets & Accumulated Depreciation Worksheet/Depreciation Expense Schedule (continued) New template is derived from Report 18 Depreciable Capital Assets, net of depreciation” The new template excludes “Depreciable Capital Assets, net of depreciation” section.

April 2014Year-End GAAP Training9 Capital Assets & Accumulated Depreciation Worksheet/Depreciation Expense Schedule (continued) New process – step 1  Update the legal-basis data in PeopleSoft module in July

April 2014Year-End GAAP Training10 Capital Assets & Accumulated Depreciation Worksheet/Depreciation Expense Schedule (continued) New process – step 2 instructionscapital assets/accumulated depreciation worksheetdepreciation expense schedule  The CO will issue to campuses an Excel workbook on August 25. The workbook will contain three tabs: instructions tab, a capital assets/accumulated depreciation worksheet and depreciation expense schedule

April 2014Year-End GAAP Training11 Capital Assets & Accumulated Depreciation Worksheet/Depreciation Expense Schedule (continued) New process – step 2 (continued)

April 2014Year-End GAAP Training12 Capital Assets & Accumulated Depreciation Worksheet/Depreciation Expense Schedule (continued) New process – step 3  Upload the completed workbook to the State Reporting SharePoint site (not the PBC site) on or before September 12.

April 2014Year-End GAAP Training13 Capital Assets & Accumulated Depreciation Worksheet/Depreciation Expense Schedule (continued) New process - review Step 1 - Update the legal basis data in PeopleSoft module Step 2 - The CO will issue to campuses an Excel workbook. August 25 Step 3 – Upload the completed Excel workbook to the State Reporting SharePoint site. Before Sep. 12 Mid-July Monster template, bye la.

SCO GAAP SUBMISSION Pollution Remediation Obligations Detail  Required by the SCO beginning fiscal year ended June 30, 2013  Detail of amount included in Other Liabilities Detail; must tie to entry on the TM1 schedule  Schedule required for each state fund recording this type of liability  Required information includes:  Brief description of the remediation activity  Disclosure information consisting of:  Nature and source of obligation  Total amount of estimated liability  Methods and assumptions used to estimate the liability  Potential for changes in the estimated amount April 2014Year-End GAAP Training14

SCO GAAP SUBMISSION Pollution Remediation Obligations Detail (cont.)  Estimate of insurance recovery or recovery from other sources  If the liability can’t be reasonably estimated, the reason why  Rollforward of the liability  Allocation between current and noncurrent Examples of what to enter in the description and disclosure fields are provided at the Instructions tab of the template April 2014Year-End GAAP Training15

SCO GAAP SUBMISSION April 2014Year-End GAAP Training16

SCO GAAP SUBMISSION Submission Method for Excel Templates  SharePoint – State Reporting site  me.aspx me.aspx  Library – SCO GAAP Schedules  See naming conventions at General Information library April 2014Year-End GAAP Training17

SCO GAAP SUBMISSION Revised GAAP Data Integrity Certification Form  Supersedes the SCO GAAP Data Integrity Certification Form  Designed to certify the accuracy of all GAAP data submitted by campuses and includes the following:  GAAP FIRMS  TM1  PBCs  SCO GAAP templates  Supplementary data provided for the SRB financial statements  Confirms compliance with ICSUAM and the GAAP Manual April 2014Year-End GAAP Training18

SCO GAAP SUBMISSION Revised GAAP Data Integrity Certification Form (cont.)  Reminds campuses that data must be accurate at the CSU fund level  Should any submission have an unacceptable level of errors, it will be returned to the campus; re-submission of a corrected file will be given high priority by the campus  Form must be signed by the campus vice president of administration and finance  Upload as a PDF file to the SCO GAAP Schedules library in SharePoint at the same time GAAP FIRMS submitted --- September 8 April 2014Year-End GAAP Training19

April 2014Year-End GAAP Training20