Systemwide Revenue Bonds

Terri Williams, Manager, FS / SRB & Capital Projects

Alyssa Kanzaki, Accountant, FS / SRB & Capital Projects

Chancellor’s Office

April 24, 2015

Learning Objectives• Understand the SRB Audit process• Differentiate between SRB Legal and GAAP Reporting • Review SRB PBCs• Clarify CSU Fund 537

April 2015 Year-End GAAP Training 2

SRB Audit Process

• SRB starts with Legal

• Differences between Legal and GAAP• Capital Assets/CSU Fund 501• Expenditure vs. Capitalization• Debt

• Auxiliary Lease/Loan Activity

April 2015 Year-End GAAP Training 3

SRB Audit Process

• Legal to GAAP Reconciliation

• SRB GAAP to GAAP Comparison

April 2015 Year-End GAAP Training 4

Review PBCs

• PBC 55 – Investments Legal to GAAP Rollforward (Exhibit 32)

• PBC 81 – Capital Asset Additions

• PBC 145 – SRB Liability Leadsheet (Exhibit 45)

April 2015 Year-End GAAP Training 5

PBC 55 – Investments Legal to GAAP Rollforward (Exhibit 32)

April 2015 Year-End GAAP Training 6

PBC 81 – Capital Asset Additions

• CSU Fund is a new requirement

• SRB will use to record reclasses between Repair & Maintenance and Construction

April 2015 Year-End GAAP Training 7

PBC 145 – SRB Liability Leadsheet (Exhibit 45)

April 2015 Year-End GAAP Training 8

PBC 145 – SRB Liability Leadsheet (Exhibit 45)

• PY Reversal should not be included

April 2015 Year-End GAAP Training 9

CSU Fund 537

• Now Auxiliary Organization SRB activity only

• CSU Funds for Non-SRB Auxiliary activity• 436 - Agency Transactions• Non Agency, Non SRB transactions should be

reviewed to determine the appropriate CSU Fund• (When in doubt, please consult with Chancellor’s Office,

Systemwide Financial Standards & Reporting department)

April 2015 Year-End GAAP Training 10

What Will Help

• Inclusion of Keywords in GAAP Entry description• SRB Passdown• Reversing vs. Non Reversing• Capital Asset/CWIP

April 2015 Year-End GAAP Training 11

SRB Variance Flux Analysis

• TM1 Q & A Variance Form

• Chapter 16 – GAAP Manual

• TM1 SRB Q & A Training Video• https://csyou.calstate.edu/Employee-Resources/training/fi

nancial-services-training/Pages/tm1.aspx

April 2015 Year-End GAAP Training 12

SRB Variance Flux Analysis

April 2015 Year-End GAAP Training 13

Key Dates to Remember

• April 20 – Detail of Transfers sent to campuses

• August 3 - Fluctuation Analysis available in TM1

• August 25 - All PBCs and Flux Analysis due

• September 8 - Audited PBCs due (revisions only)

April 2015 Year-End GAAP Training 14

April 2015 Year-End GAAP Training 15

April 2015 Year-End GAAP Training 16

www.calstate.edu

April 2015 Year-End GAAP Training 17