Cash Flows Update Chapter 6 Presented by KPMG LLP and CSU
May 2008 GAAP Reporting Workshop © 2008 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. Printed in U.S.A. KPMG and the KPMG logo are registered trademarks of KPMG International. 2 Use the Updated Template Or ensure you have reviewed it along with the Word file that has step by step instructions Changes/updates have been incorporated Investment Rollforward for PBC must have sufficient/complete information to support Cash Flow Statement The rollforward will assist the campus in identifying cash flows in the Investing Section Investment rollforward will require information from the Chancellor’s Office with respect to SWIFT
May 2008 GAAP Reporting Workshop © 2008 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. Printed in U.S.A. KPMG and the KPMG logo are registered trademarks of KPMG International. 3 SMIF - FBC Do not include transfers between SMIF invested funds. For example, the Dorm Revenue fund may “transfer” monies to the Dorm Maintenance and Repair fund, a transaction that does not reduce the overall SMIF investment balance. Do not include FBC in CSU Fund 001 – General Fund New Lines/Transactions in Capital and Related Financing Section Notes Receivable from auxiliary organizations Principal and Interest Cash Outflow
May 2008 GAAP Reporting Workshop © 2008 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. Printed in U.S.A. KPMG and the KPMG logo are registered trademarks of KPMG International. 4 Noncapital Financing Section Pell Revenue Other Revenue Reclassifications Capital and Related Financing Section Capitalized interest expense (less interest income) is not cash outflow from acquisition of capital assets If debt is refunded, cash flows transferred to escrow may have interested paid component – information will be required from the Chancellor’s Office Supplemental Noncash Disclosure Change in accrued capital asset acquisition costs
May 2008 GAAP Reporting Workshop © 2008 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. Printed in U.S.A. KPMG and the KPMG logo are registered trademarks of KPMG International. 5 The Process Have SNA and SRECNA locked down Must agree to CY and PY as reported in YES If another GAAP journal entry is booked after initial cash flow worksheet, campus must evaluate impact to cash flow and update accordingly (ex. Self-insurance je) Additional Cash Flow Worksheet is the Meat Troubleshooting Check Signs Investing Activities Section Capital and Related Financing Section