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Miscellaneous General Accounting Topics Kelly Cox, Associate Director, Financial Services / Accounting Lorissa Cheney, Assistant Manager, Financial Service.

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Presentation on theme: "Miscellaneous General Accounting Topics Kelly Cox, Associate Director, Financial Services / Accounting Lorissa Cheney, Assistant Manager, Financial Service."— Presentation transcript:

1 Miscellaneous General Accounting Topics Kelly Cox, Associate Director, Financial Services / Accounting Lorissa Cheney, Assistant Manager, Financial Service / Accounting Chancellor’s Office April 23, 2015

2 Topics Bank of CSU Cash Posting Orders (CPO) Various Sample Accounting Treatments Activity Period 7 Adjustments Early Start Waiver Year-End Deadlines CO Accounting Contacts April 2015Year-End Legal Training2

3 SWIFT Appropriate balances are in 0948 funds only. Bank Statements can be picked up by the 3 rd business day. Check the “Vincent” server. Accrue June Investments in GAAP not Legal There is never a Legal entry for Unrealized Gains/losses; not even in July Ref: Legal Manual Chapter 34: Banking and Investments April 2015Year-End Legal Training3 Bank of CSU

4 Cash Posting Order To request a CPO, access the CSYOU.calstate.edu website or https://csyou.calstate.edu/Tools/Financial/cpohttps://csyou.calstate.edu/Tools/Financial/cpo For questions contact Terri Porter at tporter@calstate.edu ortporter@calstate.edu (562) 951-4596 Process Guide is located on the website April 2015Year-End Legal Training4 Cash Posting Order

5 Interagency Transactions: Outlined by GASB 34 Reciprocal – Service: Cost Recovery Revenue Non-Reciprocal – Reimbursement: Abatement Reciprocal – Loan: Balance Sheet Non-Reciprocal – Transfer: Transfers in/out Ref: Legal Manual Chapter 29: Section 3.9 Ref: Legal Manual Chapter 34: Section 3.8 April 2015Year-End Legal Training5 Cash Posting Order

6 Interagency Transaction Ref: Legal Manual Chapter 29: section 3.9 April 2015Year-End Legal Training6 Cash Posting Order

7 Revenue vs. Abatement Cost Recovery Revenue: When a good or service is provided, the credit should be recorded to the appropriate Cost Recovery Revenue object code. Abatement: Repayment from Fund B for a particular expense when Fund A initially paid for them, the credit should be recorded as an Abatement against Fund A’s original expenditure or prior year expenditure adj. Ref: Legal Manual Chapter 29 – Section 3.9 April 2015Year-End Legal Training7 Cash Posting Order

8 Registration Fees: FIRMS Object Code – 660009 Professional Development - should be used to pay registration fees for conferences, workshops, staff training, and similar events. The former practice of recording registration fees in FIRMS 660090 Expense-Other was discontinued in October 2014. Ref: Legal Manual Chapter 29: Section 3.2 April 2015Year-End Legal Training8 Cash Posting Order

9 Special Initiative Grants in 485 Special Initiative Grants are defined as system grants funded from the CSU Operating fund. The cash (fee revenue) set aside to fund these programs will remain in the CSU Operating Fund and should be expensed directly from this fund i.e. faculty salaries, travel or supplies and services. April 2015Year-End Legal Training9 Special Initiative Grants

10 The 5 Entry types of Special Initiative Grants: April 2015Year-End Legal Training10 Special Initiative Grants Entry SWATUnique FNAT CSU Fund DebitCredit 1. Initial systemwide allocation to host campusYES Remitting campus (Systemwide Budget Office) C No485680100101100 Receiving host campus A,D Yes485101100506100 2. Reallocation from Campus participant to the hostYES Remitting campus C No485506100101100 Receiving host campus (ex. San Diego) A Yes485101100506100 3. Transfer fund to campus for awards/grants (excluding financial aid)YES Remitting host campus (ex. San Diego) A Yes485506100101100 Receiving Campus A Yes485101100506100 Ref: Legal Manual Chapter 14: Section 3.6

11 The 5 Entry types for Special Initiative Grants: April 2015Year-End Legal Training11 Special Initiative Grants Entry SWATUnique FNAT CSU Fund DebitCredit 3a. Expends campus awards/grants (excluding financial aid)NO Receiving CampusYes4856XXXXX101100 4.Reimbursement of administration expenseNO Remitting host campus (ex. San Diego) A Yes4856XXXXX101100 Receiving campus C NO Various 1011006XXXXX 5.Transfer funds to campus financial aid to issue student awards (agency Transaction)NO Remitting host campus (ex. San Diego) A Yes485609005101100 Receiving campus C No436101100206701 5a. Receiving campus issues financial aid to students B NONo436206701101100

12 Special Initiative Grants in 485 Campuses must record Special Initiative grants consistently across the CSU Not all Special Initiative Grants transactions require a Unique FNAT Ref: Legal Manual Chapter 14: Section 3.6 April 2015Year-End Legal Training12 Special Initiative Grants

13 Activity Period 20XX07 Adjustment Record the revenue in the proper CSU fund instead of 485 to minimize the need for activity period 20XX07 adjustment at year-end. Ref: Legal Manual Chapter 14: CSU Operating Fund April 2015Year-End Legal Training13 Activity Periods 7 Adj

14 Early Start Program Reimbursement The Early Start Program was developed to better prepare students in Math and English Campuses are to waive student tuition fee based on financial need and set up an AR in 131481 NEW THIS YEAR! CO will email YOU with the amounts by CSU Fund by noon on 7/2/2014. Note: For the CO only, record the campus’ payable to dr. 107090: Other prepaid expenses & cr. 231XXX April 2015Year-End Legal Training14 Early Start Waiver

15 Early Start Program Reimbursement Prior to reimbursement, campus must reconcile the GL to enrollment reports. Reimbursement is not based on the GL balance in 131481. Reimbursement is based on the enrollment reports submitted to Director for Student Financial Aid Services and Programs Contact Dean Kulju, Director for Student Financial Aid Services and Programs, at (562) 951-4737. Ref: Legal Manual Chapter 6: Extended Education April 2015Year-End Legal Training15 Early Start Waiver

16 Campus Deliverables: CO Deliverables: April 2015Year-End Legal Training16 Last day:Due DateContact Submit CPOs RequestJune 17Lorissa Cheney Request Interagency TransactionsJuly 1Lan Luong SCO Pay tape to be posted to the GLJuly 2Alice Kim CO to Issue:Due DateContact ALL CPOsJuly 2Lorissa Cheney Interagency Transaction ReportJuly 6Lan Luong Bank of CSU StatementJuly 6Colleen Zenger Fund Balance Clearing (FBC)July 6Lan Luong CO Accounting Deadlines

17 C HANCELLOR ' S O FFICE A CCOUNTING C ONTACTS April 2015Year-End Legal Training17

18 CO General Accounting CO ContactContact Info Responsibilities Vacant, Manager(562) 951-4209 Lorissa Cheney, Assistant Manager (562) 951-4626 lcheney@calstate.edu Cash, Investments and Banking Assistant Accounting Manager ​ June Cacho (562) 951-4654 jcacho@calstate.edu Trust, General Fund, Monthly Payroll PFA & Refunds to Reverted Appropriation ​ Abigail Herrera (562) 951-4536 aherrera@calstate.edu CO Accounts Receivable Silvia Aguilar(562) 951-4616 saguilar@calstate.edu Systemwide Lottery and Continuing Education ​ Terri Porter (562) 951-4596 tporter@calstate.edu Cash Posting Orders Vacant(562) 951-4561CO Cashier & Chancellor’s Doc Incentive Program (Loan Program) April 2015Year-End Legal Training18

19 CO Financial Reporting CO ContactContact Info Responsibilities Alice Kim, Manager(562) 951-4627 akim@calstate.edu Cindy Gong(562) 951-4542 cgong@calstate.edu CSU Institute & CO Fixed Assets Rima Tan(562) 951-4629 rtan@calstate.edu CO Financial Analyst Lan Luong(562) 951- 4630 lluong@calstate.edu Interagency Transaction Table & FBC publications April 2015Year-End Legal Training19

20 Capital Projects/ SRB Accounting CO Contact SCO / CSU Fund ​ Terri Williams, Manager(562) 951-4386 ​ tmwilliams@calstate.edu ​ Bill Pittman (562) 951-4612 bpittman@calstate.edu Higher Education & Dorm Construction Fund ​ Angie Renaud (562) 951-4613 arenaud@calstate.edu Dorm Construction Fund ​ Alyssa Kanzaki (562) 951-4399 akanzaki@calstate.edu SRB Financial Reporting and Special Projects ​ Dago Escobedo (562) 951-4561 descobedo@calstate.edu SRB Debt Service - Systemwide Revenue Bond Funds (State Univ Trust) April 2015Year-End Legal Training20

21 CSU Risk Mgmt Authority Accounting CO ContactContact Info Responsibilities Alice Kim, Manager(562) 951-4627 akim@calstate.edu ​ Mandy Wong (562) 951-4578 mwong@calstate.edu Financial Reporting Susan Kang(562) 951-4621 skang@calstate.edu General Accounting, Accounts Receivable and Accounts Payable April 2015Year-End Legal Training21

22 www.calstate.edu April 201522Year-End Legal Training

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