The California State University (CSU) GAAP Reporting Manual 2009 1 © 2009 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All.

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Presentation transcript:

The California State University (CSU) GAAP Reporting Manual © 2009 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 ORA CSU 2009 Audit and Reporting Timeline TaskDayDate GAAP training teleconference (KPMG)WednesdayMay 20, 2009 GAAP training teleconference for auxiliary organizations FridayJune 19, 2009 Chancellor’s Office (CO) to provide June investment accrual and unrealized gains/loss passdown to campuses MondayJuly 27, 2009 Campus to submit preliminary schedule of expenditures of federal awards (SEFA) via YES (TM1) ThursdayJuly 30, 2009 Weekly GAAP conference with campusesEvery FridayAug 7 – Nov 20, 2009 (SRB) CO Systemwide Revenue Bond (SRB) team to provide legal fluctuation analysis template to campuses FridayAugust 14, 2009 CO to distribute the SWIFT Investment rollforward to campuses WednesdayAugust 19, 2009 CO to provide all passdown schedules to campuses (except risk pool and GASB 45) WednesdayAugust 19, 2009 Campus to provide completed reporting package to KPMG (excluding risk pool, GASB 45, and auxiliary organization data) Monday/ Tuesday 1st day of fieldwork (August 24 or 31, September 8, 14, or depending on fieldwork start date) CO to provide GASB 40 templates to campusesTuesdaySeptember 1, 2009 (SRB) Campuses to submit legal fluctuation analysis template, unaudited GAAP fluctuation analysis review (Words document), unaudited GAAP entries query of SRB funds, and unaudited SRB required format lead sheets to CO (Kathy Skara and Terri Williams) MondaySeptember 14, 2009 CO to pass down risk pool and GASB 45 entries to campuses FridaySeptember 18, 2009 Auxiliary organization audits completed and reports submitted to CO and Campus GAAP coordinators (including completed GAAP Financial Reporting checklist) TuesdaySeptember 30, 2009 SCO GAAP adjusting entries due to COWednesdaySeptember 30, 2009 Campus to provide updated reporting package to KPMG (including risk pool, GASB 45 and auxiliary organization data) TuesdayOctober 6, 2009 Submit 3 hard copies of each auxiliary organization’s financial statements

The California State University (CSU) GAAP Reporting Manual © 2009 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 ORA CSU 2009 Audit and Reporting Timeline TaskDayDate Campus reporting packages due to CO (must be submitted by KPMG teams and also cc Kathy Skara and Terri Williams) including prior period audit differences and reclassifications (Excel worksheets) and separate analytical review (Words document) ThursdayOctober 15, 2009 KPMG Systemwide team to provide partner review comments to CO for review and approval prior to distributing to KPMG campus teams/GAAP coordinators ThursdayOctober 22, 2009 KPMG systemwide team communicates to KPMG campus teams/GAAP coordinators via distribution of comments (cc Ben Cheng at CO) FridayOctober 23, 2009 Campus and KPMG teams to clear review commentsMonday - FridayOctober 26 – 30, 2009 Campus revised reporting packages (v2) due to CO (must be submitted by KPMG teams and also cc Kathy Skara and Terri William) including prior period audit differences and reclassifications (Excel worksheets) and separate analytical review (Words document) FridayOctober 30, 2009 CO to provide the stand-alone proforma financial statements template (one-year and comparative presentations, including systemwide numbers) to campuses FridayOctober 30, 2009 (SRB) Campuses to submit audited GAAP entries query of SRB funds and audited SRB required format lead sheets to CO (Kathy Skara and Terri Williams) FridayOctober 30, 2009 KPMG Systemwide team to review revised campus reporting packages (v2), and approve FINAL version for consolidation Monday - Tuesday November 2 - 3, 2009 KPMG campus teams to submit A-133 findings to KPMG Systemwide team (single audit summary of deficiencies document) WednesdayNovember 4, 2009 GAAP FIRMS submission due to COFridayNovember 6, 2009 Campus to provide complete draft stand-alone financial statements (including management approved MD&A) to KPMG for review MondayNovember 23, 2009 Issue campus stand-alone financial statementsThursdayJanuary 14, 2010 Freeze date and time at point of locking and exporting to Excel