Systemwide Accounting Issues

download Systemwide Accounting Issues

of 23

  • date post

  • Category


  • view

  • download


Embed Size (px)


Systemwide Accounting Issues. Legal Basis Reporting Workshop CO Accounting May 19, 2008. Chancellor’s Office Accounting. Prior Year General Fund SCO Charges in the Current year 0001 CSURMA Payments /Accruals CPO research - Bank of CSU Revised CPOs for New Transfer Object Code. - PowerPoint PPT Presentation

Transcript of Systemwide Accounting Issues

  • Systemwide Accounting IssuesLegal Basis Reporting WorkshopCO AccountingMay 19, 2008

  • Chancellors Office AccountingPrior Year General FundSCO Charges in the Current year 0001CSURMA Payments /AccrualsCPO research - Bank of CSURevised CPOs for New Transfer Object Code

  • The CO and Prior Year General Fund

    SCO and PFAs in PY 0001In 2007/08, the State Controllers Office (SCO) will no longer accept a Plan of Financial Adjustment (PFA) to move prior year payroll from State fund 0001 to State Fund 0948.This is due to their interpretation of the definition of a Primary Operating Fund.

  • Prior Year General FundLedger vs. SCO PostingsSCO posted expense 0001LCD posted to 0948 - Debit to Salaries and Credit to FBC

  • Prior Year General FundRecommended Entry0001 Books the expense SAM99 Dr. 690002Cr. 305002

    0948 Books the expense SAM99 Dr. 305002Cr. 690002

    This is not real accounting!

  • Prior Year General FundIf PY or PPY 0001 Lacked Funds?In 2007/08, the CO began working directly with the SCO to ensure that adequate funds are available for all CSU agencies.If 0001 2004 (PPY) or 0001 2005 (PY) was short of funds, an allocation order (AO)/CPO has been processedFrequently, this amount exceeded the actual amount needed for the transaction

  • Prior Year General FundWhy did the CO process an AO and a CPO?The AO is the most efficient way to increase the campus authority to spend in the amount of time given by the SCO.The CPO reflects the shift of the campus resources from SWIFT to State $, in this case, a supplemental allocation

  • Prior Year General FundPost Supplemental BudgetThe AO increases the campus spending authority

  • Prior Year General FundCPO for ExchangeThe CPO is the exact amount of the AO (in our example $10,000) which reduces your SWIFT $

  • Prior Year General FundYear End and Reverting FundsTo eliminate any remaining spending authority in 0001 2004, the CO will de-allocate and post a CPO to the campus SWIFT

  • Prior Year General FundReverting General Fund Process Step 1$4,886 BBA needs to be reduces

  • Prior Year General FundRecord De-allocation & CPO Step 2AO de-allocates the spending authority CPO increase your SWIFT balance in the exact amount

  • Prior Year General FundReverting General Fund Process Result


  • SCO Charges in the Current year 0001Throughout the year, the SCO has posted various journal entries to the current year 2007 General Fund.PIAPayrollVCS Surplus Charge

    Other than the Payroll PFA entries submitted by the Chancellors Office, NO other charges should be processed against the CY.

  • SCO Charges in the Current year 0001Charges from Other State AgenciesAs part of the 2006/07 RMP implementation, all campus customer codes on file with other state agencies outside of the CSU were re-directed to charge 0948.Any on-going expenses from another state agency should be posted to campus 0948.

  • SCO Charges in the Current year 0001CO Monitor and Correct SCO Errors

    The CO will be monitoring the charges posted to the current year general fund, contacting the other state agencies that submitted the charges and submitting corrections to the SCO.

  • CSURMA Payments /AccrualsCSURMA Invoices AP to the CampusesAR to CSURMA

    When paying CSURMA outstanding invoices, CSURMA Accounting requests that the campuses mail checks out by Tuesday, 6/24 to be received by Monday, 6/30. If payment is made after this date, please email CSURMA accounting ( to verify that we have received the payment. If not, what entries are needed so we all pass the manual FIRMS edit.Wire transfers or ACH payments are even better!!! If payment is not made and assuming these transactions are booked in 0948, the campus entry would be 231547, Due to CSU 547 - TF CSU Risk Mgmt (inter-agency). Otherwise, 202029 A/P to Chancellors Office.CSURMA Accounting will follow this same practice when paying campus outstanding invoices.

  • CSURMA Payments /AccrualsIDL/NDI/UI Accruals AR to the CampusesAP to CSURMA

    Due to the interagency transactions between CSURMA and the campus, the recording of the IDL/NDI/UI activity needs to be properly communicated between both groups. Actual invoices or estimated accruals from the campuses should be emailed to by 7/1/2008. Either a pdf of the actual invoice or an email listing the amounts.Campus MUST indicate what CSU fund that will record the accrual on their Legal books. A confirmation of these accruals will be included on the CO Interagency Receivables, Payables and Transfers ADNOAT published July 7th.

  • CSURMA Payments /AccrualsIDL/NDI/UI Accruals AR to the CampusesAP to CSURMA

    Assuming these transactions are booked in 0948, the campus entry would be 131547, Due from CSU 547 - TF CSU Risk Mgmt (inter-agency). Otherwise, 105029 Due from CO.

    Again, the campuses MUST email by 7/1/2008 including what CSU fund they will record this accrual and the amount.

    Q3 FIRMS data shows that the campuses booked these expenses to MANY CSU funds, therefore confirmation is needed so that we all pass the manual FIRMS edit.

    Note: reimbursement is recorded as a credit to these expense object codes

    Insurance Claim NDI/IDL 660011 & Unemployment Compensation 603010261DRF-Housing262DRF-Parking267DRF-Continuing Education Revenue Fund441TF CERF Extended Education461TF-Associated Student Body Trust463TF-Instructionally Related Activities Trust465TF-Contracts and Grant Trust472TF Parking Revenue Fund-Parking Fees481TF Lottery Education Fund485TF CSU Operating Fund491TF Special Projects Fund-Special Projects496TF Miscellaneous Trust499TF Revolving Fund531TF Housing-Operations and Revenue

  • Deductible RecoveryAP to the CampusesAR to CSURMA

    The CSURMA Deductible Recovery ADNOATs will be posted no later than end of business on July 7th.

    The campus entry will be 231547, Due to CSU 547 - TF CSU Risk Mgmt (inter-agency)

    The CO will require the campuses to email ( what CSU fund they will record this accrual.

    Q3 FIRMS data shows that the campuses booked mostly in 485 so our assumption will be that you recorded this entry in 485.

    This must tie so we all pass the manual FIRMS edit. CSURMA Payments /Accruals

    Insurance Claim Deductible - 660012CHANNEL Islands485TF CSU Operating Fund$30,278 CHICO485TF CSU Operating Fund$3,186 FRESNO485TF CSU Operating Fund$51,856 HAYWARD485TF CSU Operating Fund$913 HUMBOLDT485TF CSU Operating Fund($2,195)531TF Housing-Operations and Revenue$313 LONG BEACH485TF CSU Operating Fund$188,479 LOS ANGELES485TF CSU Operating Fund$6,511 MARITIME ACADEMY485TF CSU Operating Fund$11,156 MONTEREY BAY485TF CSU Operating Fund$513 NORTHRIDGE485TF CSU Operating Fund($23,253)POMONA485TF CSU Operating Fund$54,371 SAN BERNARDINO485TF CSU Operating Fund$51,864 SAN DIEGO485TF CSU Operating Fund$177,379 SAN FRANCISCO485TF CSU Operating Fund($195,570)SAN JOSE485TF CSU Operating Fund$58,874 SAN LUIS OBISPO262DRF-Parking$198 485TF CSU Operating Fund$11,600 531TF Housing-Operations and Revenue$114 SAN MARCOS485TF CSU Operating Fund($259,273)SONOMA485TF CSU Operating Fund$1,024 SYSTEM OFFICES485TF CSU Operating Fund$3,189

  • CPO Research Bank of CSU If you need copies of CPOs, visit the Bank of CSU This site list all the CPOs related to your campus by month with a brief description of the transaction. Questions on CPOs can be directed to me or Lilian AudetLilian Audet 562.951.4209Kelly Cox 562.951.4611

  • Revised CPOs for New Transfer Object CodeNew object codes have been set-up to identify due to/from and transfer in/out transactions within CSU Fund 0948. Various CPO transactions using the object codes 506126/680126 were issued during Q1 & Q2 using the old objects, these should now be reclassified to 571000/671000.Revised CPOs have been issued. If you still have transactions within 506126/680126, go the Bank of CSU to obtain the revised CPO. The final implementation memo outlining the new codes can be found at: 13-New-Due-To-From-_-Transfer-In-Out-Document.doc

  • Q & AQuestions

    LCD posted to 0948 485 Debit to Salaries and Credit to FBC

    SCO Posted Prior Year Payroll to SCO Fund 0001****During the monthly of May/June the CSURMA Accounting department will be contacting the Risk Managers for each campuses to obtain all outstanding billing. My hope is as of YE we are only accruing Q4 or June activity, depending of if the campus bills based on monthly or quarterly actuals. *Humboldt and SLO will need to contact us as they record this expenses in multiple CSU funds. *