1. 1 FIRMS Reporting Update Systemwide Financial Standards & Reporting May 23, 2005

2. Year-End Financial Reporting Workshop2 Basis for FIRMS Requirement  Executive Order 648-Delegation of Fiscal Authority and Responsibility (Jan 1, 1996) defines campus financial reporting requirements to the C.O.  BF 96-01 (March 20, 1996) officially announced creation of Financial Information Record Management System (FIRMS) as the mechanism to fulfill the reporting requirements under E.O. 648.

3. May 23, 2005Year-End Financial Reporting Workshop3 Components of FIRMS Database  Reference Tables –Maintained centrally at the C.O. –Contain various attributes to be downloaded into campus PeopleSoft system –Used to derive meaningful information in systemwide reports  Data Tables –Contains data collected from campuses and the C.O. –Legal basis actuals data for University is collected quarterly –Budget data for the following year is collected annually –Auxiliary organization data collected in July and October (IPEDS) –GAAP basis data will be collected annually starting 6/30/05

4. May 23, 2005Year-End Financial Reporting Workshop4 FIRMS Data Reviews  Automated Validations Edits  Manual Edits  Variance Analysis

5. May 23, 2005Year-End Financial Reporting Workshop5 What’s happening with FIRMS this year?  Voluntary early closing (7/15)  Program code derivation in PeopleSoft 8.4  GAAP data submission required in FIRMS format from PeopleSoft 8.4 campuses  Manual edits are being automated.  New program codes, effective 7/1/2004 –IT (various) –Student Admissions (0509), Student Records (0510) –Gen Admin (0606), Logistical Services (0708) –Security and Safety (0707) –Transfers (13xx)

6. May 23, 2005Year-End Financial Reporting Workshop6 What’s happening with FIRMS this year? (continued)  Discontinued Program Codes, effective 7/1/2004 –Special Session Instruction (0103) –Old IT program codes (0404, 0604) –Other old program codes  New Object Codes, effective 7/1/2005 –Dept Chair (601304), Teaching Assistant (601101) –CERF Reserves (3040xx): must net to zero –GAAP Object Codes for Leases Receivable (711105, 711209), effective for GAAP F/S as of 6/30/2005  Discontinued Lottery Project Codes, effective 7/1/2004

7. May 23, 2005Year-End Financial Reporting Workshop7 Things of Continuing Importance  Do not record encumbrances or accrued expenses in lump sum using a default program code, but record them where actual expenditures will occur.  Do not report any balance in, or with reference to, Fund 0998.  Balance Due Froms/Due Tos and Transfers In/Transfers Out.  Use only the new capital outlay object codes (60702x, 60703x, 60704x) in capital outlay funds.  Include valid Lottery Project numbers for budget and expenditures.  Use object codes for specific expenditures rather than 660090.  Notify the C.O. and resubmit FIRMS data if SCO reports are resubmitted.  Review the reversion dates and notify the SCO of any date errors.  Remove accruals from reverting appropriations.  Review the SCO reporting errors from last year for correct submission.

8. May 23, 2005Year-End Financial Reporting Workshop8 Suggestions  Test-submit FIRMS data monthly and resolve problems throughout the year.  Submit FIRMS data before submitting SAM99 to the SCO.  Allow one working day for review by CO before closing.  Perform variance analysis before closing.

9. May 23, 2005Year-End Financial Reporting Workshop9 What’s ahead?  Mandatory early closing next year (7/15)  Continuation of more automated edits  Continuation of effort to improve data accuracy and consistency through FSAC  New Object Codes should be used, effective 7/1/2005, in the final budget submission and quarterly submissions –Dept Chair (601304), Teaching Assistant (601101)

10. May 23, 2005Year-End Financial Reporting Workshop10 Persons to Contact if you have questions  See the list on Attachment IV of the Year-End Reporting Instructions

11. 11 FIRMS Reporting Data Quality Review and Submission Corporate Information Management May 23, 2005

12. Year-End Financial Reporting Workshop12 Overview  Objective  FY 2003/04 Observations  Data Review, Certification and Submission Process

13. May 23, 2005Year-End Financial Reporting Workshop13 Objective- Unassailable Data  Accurate and consistent expenditure data –Across campuses –Over time  Conform to national expenditure data classifications  Process: –Compare to prior year expenditures –Review and explain large changes –Certify data submissions

14. May 23, 2005Year-End Financial Reporting Workshop14 FY 2003/04 Observations

15. May 23, 2005Year-End Financial Reporting Workshop15 FIRMS Documentation  URL: http://www.calstate.edu/cim/financialAssets/fmenu1.shtml http://www.calstate.edu/cim/financialAssets/fmenu1.shtml  Continuously updated reference tables  Revised Validation Rules  Contact Update

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17. May 23, 2005Year-End Financial Reporting Workshop17 Data Submissions  URL- http://orion.calstate.edu:7777/servlet/f60servlet?config=firms_runedit  Web form works with IE 5 and up (PC only)  Secure File Transfer –Application opener button on panel –Secure ftp application can be opened outside the FIRMS data submission panel  Files may be in tab-delimited or fixed-field format

18. May 23, 2005Year-End Financial Reporting Workshop18 Data Submissions- Notification  Campus Data are Processed in FIRMS Working Table  Once Data File is Error-Free, Campus Notifies Corporate Information Staff  Corporate Information Staff Copies Data to Final FIRMS Corporate Data Table

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20. May 23, 2005Year-End Financial Reporting Workshop20 Campus Variance Reports  Compare Working Table data with Last Year’s Final  Compare This Year’s Final (200506) with Last Year’s Final (200406)  Record Types 10 and 15 Broken Out  Brio OnDemand Reports  Excel Template for Final Comparison

21. May 23, 2005Year-End Financial Reporting Workshop21 Campus Variance Reports- URLs  OnDemand Reports- URL: http://gourdine.calstate.edu/ODSHTML/brio.html http://gourdine.calstate.edu/ODSHTML/brio.html  Variance Reports- URL: http://www.calstate.edu/cim/financialAssets/FIRMS/data_quality _review.shtml http://www.calstate.edu/cim/financialAssets/FIRMS/data_quality _review.shtml

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28. May 23, 2005Year-End Financial Reporting Workshop28 FIRMS Processing Contacts  Email: cim_mgr@calstate.educim_mgr@calstate.edu  Ron Basich- 562-951-4276  Rick Fletcher- 562-951-4299