1. Year-End Planning and Checklist CSU Year-End Training Workshop LAX, May 21-22, 2007

2. AGENDA Background Background Preparing and Planning Preparing and Planning Year-End Checklist and Timeline Year-End Checklist and Timeline –Includes RMP issues and guidelines Discussion and Q & A Discussion and Q & A

3. Background: Why Is This Needed? Frequently asked questions: Frequently asked questions: –Why isn’t this written down anywhere? –Do you have a year-end checklist we can look at? What is new about this year? What is new about this year? Condensed close and reporting timelines in recent years Condensed close and reporting timelines in recent years Importance of preparation and planning to year-end close success Importance of preparation and planning to year-end close success New campus staff New campus staff

4. Background: What are we trying to Change? Overtime and Stress Overtime and Stress Lack of communication Lack of communication Lack of time for Management Review Lack of time for Management Review More Standardization & consistency in reporting More Standardization & consistency in reporting Success in meeting deadlines Success in meeting deadlines

5. Background: Where did this information come from? Compilation of different Year-End presentations and/or checklists. Compilation of different Year-End presentations and/or checklists. Year-End closing schedules for several campuses reviewed Year-End closing schedules for several campuses reviewed Similarities in approach, if not in detail Similarities in approach, if not in detail RMP Interim Operating Guidelines RMP Interim Operating Guidelines Yr-End Checklist prepared by CO Yr-End Checklist prepared by CO

6. Background: What has Changed? SCO Deadlines SCO Deadlines CO Deadlines CO Deadlines Focus on timeliness and importance of GAAP Reports Focus on timeliness and importance of GAAP Reports Revenue Management Program Revenue Management Program CSU Interim Operating Guidelines CSU Interim Operating Guidelines

7. Background: Issues We Can’t Solve Here Lack of standardization Lack of standardization –Campus policies vary –Campus procedures for implementing CSU policies vary This represents a framework This represents a framework –Some Items ARE required –Others suggested to assist in meeting deadlines –One size may not fit all so plan ahead and customize

8. Preparation and Planning Monthly recons – Keep ‘em current and resolve factors Monthly recons – Keep ‘em current and resolve factors Preparation begins in January and February Preparation begins in January and February Consider changes on YOUR campus - (PS Student Finance, GL issues, PS AR/BI, Asset Mgt) Consider changes on YOUR campus - (PS Student Finance, GL issues, PS AR/BI, Asset Mgt) Look at last year, how did you do? Look at last year, how did you do?

9. Preparation and Planning Key Deadlines Key Deadlines –Work backwards from these dates when planning –June 15 - SCO Cut-off for Claims\PFA’s\Transfer Requests –July 16 – FIRMS Submission COMPLETED (24 hour review backs this up a few days due to weekend) –All SCO required reports per legal manual

10. Considerations for first RMP Close Two Bank Recons – STO and WF Two Bank Recons – STO and WF CO Pullback of $5K prior year payroll “subsidy” CO Pullback of $5K prior year payroll “subsidy” Close GF without accruals or current year BBA Close GF without accruals or current year BBA No GF Revolving Fund closure No GF Revolving Fund closure Entries for Investments, Cash, unpaid Claims, Student Health Services fees Entries for Investments, Cash, unpaid Claims, Student Health Services fees Do not accrue Payroll, CSURMA, SUG Do not accrue Payroll, CSURMA, SUG Prepare for designated Fund Balance entries for Fund 0948.485 Prepare for designated Fund Balance entries for Fund 0948.485

11. Year-end Closing Checklist – March and April Year end cut-off schedule to campus users Year end cut-off schedule to campus users Reconcile 101001-Cash in State Treasury and 101006/108090 Accounts Reconcile 101001-Cash in State Treasury and 101006/108090 Accounts Run preliminary data quality review Run preliminary data quality review Begin to move accruals out of GF Begin to move accruals out of GF If needed, develop a plan to migrate Student Health Service fee activity from Fund 948.451 to Fund 948.485 for year end If needed, develop a plan to migrate Student Health Service fee activity from Fund 948.451 to Fund 948.485 for year end

12. Year-end Closing Checklist - May Finalize year-end schedule and distribute to staff Finalize year-end schedule and distribute to staff Load SAM99 Accrual Reversal Tape Load SAM99 Accrual Reversal Tape –SAM99 should be run with Accrual Reversal checkbox marked from this point forward Analyze data dependencies for month and year- end entries Analyze data dependencies for month and year- end entries –Meet with departments or contact third-party providers to determine dates information will be ready or potential cut-off of activity to meet deadlines

13. Year-end Closing Checklist - May Develop strategy for reclassification of investment income to 499 Develop strategy for reclassification of investment income to 499 –101006 balances will be re-mapped to 108090 – investments –Campus can use 101006 or 108090 – both mapped to Object Code 108090 –All investment income posted to Fund 499 Collect data and analyze capital leases, capital projects & other potential complex transactions Collect data and analyze capital leases, capital projects & other potential complex transactions –Develop strategy for booking to ledger

14. Year-end Closing Checklist - May Chancellor’s Office pull back of $5,000 in reverting General Fund year (in 2007, pull back 2003) Chancellor’s Office pull back of $5,000 in reverting General Fund year (in 2007, pull back 2003) Review reverting funds Review reverting funds –Clear any remaining assets and liabilities –CY revenues and expenses will close to fund balance clearing Review closing rules and trees Review closing rules and trees –Update for reverting/reverted funds –Confirm all of 0948 fund closes to 305002 (485, 499, etc.)

15. Year-end Closing Checklist - May Ensure budget and actuals equal (BBA=0) in the following CSU Operating Fund (485) accounts: Ensure budget and actuals equal (BBA=0) in the following CSU Operating Fund (485) accounts: 506100 – SWAT Transfers In 680100 – SWAT Transfer Out 690003 – General Fund Transfer In Review Revenue in CSU Operating Fund Review Revenue in CSU Operating Fund –Make sure appropriate revenues are recorded –No investment earnings

16. Year-end Closing Checklist - May Review General Fund (SCO fund 0001) for the following: Review General Fund (SCO fund 0001) for the following: –FY 2006, BBA = zero –FY 2005, BBA = $5,000 –FY 2004, BBA = $5,000 –FY 2003, BBA = zero (reverting) Budget and Accounting develop a plan for year- end reserve entries Budget and Accounting develop a plan for year- end reserve entries –Create campus accounts as needed for reserves

17. Year-end Closing Checklist - Early June Close and reconcile May data Close and reconcile May data Notify Auxiliaries of Year-End Deadlines Notify Auxiliaries of Year-End Deadlines –FIRMS 7/31/07 –GAAP 9/28/07 –IPEDS 10/31/07 Request Contingent Liabilities list Request Contingent Liabilities list June 15 th SCO MUST have final 2006/07 Claims/PFA/Transfer Requests in Hand for guaranteed processing June 15 th SCO MUST have final 2006/07 Claims/PFA/Transfer Requests in Hand for guaranteed processing –Consider if enough 0948 balance available to meet June 30 payroll

18. Year-end Closing Checklist - No later than June 22nd Final Escheat Checks Final Escheat Checks Review and Adjust A/R Reserves Review and Adjust A/R Reserves Clear all SAM99 reconciliation issues identified in May month-end or June mid- month review Clear all SAM99 reconciliation issues identified in May month-end or June mid- month review Clear all known FIRMS error messages Clear all known FIRMS error messages

19. Year-end Closing Checklist - No later than June 29th Record all chargebacks Record all chargebacks All Requisitions must be sourced to a Purchase Order or cancelled All Requisitions must be sourced to a Purchase Order or cancelled Final Student System feeds to A/P completed, prep for final fiscal year check run Final Student System feeds to A/P completed, prep for final fiscal year check run

20. Year-end Closing Checklist - June 29-30 Post/Reconcile Payroll Post/Reconcile Payroll Post Final ProCard from June statement Post Final ProCard from June statement Receiving Completed Receiving Completed Close Purchasing Close Purchasing Final recording of Cash Receipts Final recording of Cash Receipts Close Cash Receipts Close Cash Receipts Final Check Run/Claims Final Check Run/Claims Close Accounts Payable Close Accounts Payable

21. Year-end Closing Checklist – July Week 1 CO Data will be communicated to campuses via AD NOAT no later than July 6 CO Data will be communicated to campuses via AD NOAT no later than July 6 –Includes Non-Delegated CWIP, FBC, Risk Pool Claims Deductibles, and Interagency AR/AP Fixed Assets and Retention Entries Complete Run and Post GL 15 process Run and Post GL 15 process Manually liquidate Reimbursed Activities remaining Encumbrance Balance Manually liquidate Reimbursed Activities remaining Encumbrance Balance Complete Manual Obligations Complete Manual Obligations

22. Year-end Closing Checklist – July, Week 1, Continued Final Reimbursed Activities Billing Completed/Confirm RA in Balance by CSU Fund Final Reimbursed Activities Billing Completed/Confirm RA in Balance by CSU Fund Reconciliation of all subsystems to ledger complete: ARBI, Student, etc. Reconciliation of all subsystems to ledger complete: ARBI, Student, etc. Complete routine month-end journal entries Complete routine month-end journal entries Load Bank Recon/Paid Claims (CD102)/SAM99 Files Load Bank Recon/Paid Claims (CD102)/SAM99 Files

23. Year-end Closing Checklist – July, Week 1, Continued Bank Reconciliation Completed – Negative Cash Balances Resolved through reclass/remap of 101006 to 108090 investment account Bank Reconciliation Completed – Negative Cash Balances Resolved through reclass/remap of 101006 to 108090 investment account All investment income reclassified/posted to 499 only All investment income reclassified/posted to 499 only SAM99 Reconciliation Completed – All SAM99 Reconciling Items Cleared SAM99 Reconciliation Completed – All SAM99 Reconciling Items Cleared –Reclassify FBC for claims filed to Due To Trust for DVP –SCP goes to claims filed –If needed, accrue FBC entries created by LCD

24. Year-end Checklist – July, Week 2 All entries now under the supervision of Campus Budget Office All entries now under the supervision of Campus Budget Office Ensure budget and actuals equal (BBA=0) in the following CSU Operating Fund (485) accounts: Ensure budget and actuals equal (BBA=0) in the following CSU Operating Fund (485) accounts: 506100 – SWAT Transfers In 680100 – SWAT Transfer Out 690003 – General Fund Transfer In Review Revenue in CSU Operating Fund Review Revenue in CSU Operating Fund –Make sure appropriate revenues are recorded –No investment earnings Any investment earnings required to cover CY expenditures in Fund 485 must be recorded in 506051 – Transfer-in investment earnings from fund 499 Any investment earnings required to cover CY expenditures in Fund 485 must be recorded in 506051 – Transfer-in investment earnings from fund 499

25. Year-end Checklist – July, Week 2 Review General Fund (SCO fund 0001) for the following: Review General Fund (SCO fund 0001) for the following: –FY 2006, BBA = zero –FY 2005, BBA = $5,000 –FY 2004, BBA = $5,000 –FY 2003, BBA = zero (reverting) Clear any remaining FIRMS errors Clear any remaining FIRMS errors Final review of program/ledger balances Final review of program/ledger balances –Clear any remaining deficits

26. Year-end Checklist – July, Week 2 Final preliminary Data Quality Review Final preliminary Data Quality Review Reserve entries to CSU Fund 485 Reserve entries to CSU Fund 485 304015 Reserve for Operations 304015 Reserve for Operations 304016 Reserve for Campus Dept/Obligations 304016 Reserve for Campus Dept/Obligations 304018 Reserve for Encumbrances 304018 Reserve for Encumbrances –Use campus accounts as needed, mapped to above FIRMS Object codes, to accommodate campus plans for contingency, roll forward and reserves

27. Year-end Checklist – July, Week 2 Close xxCMP Business Unit to prevent further entries Close xxCMP Business Unit to prevent further entries Generate Final SAM 99 File Generate Final SAM 99 File Final FIRMS derivation Final FIRMS derivation Prepare Manual Reporting Package for Mgt Review Prepare Manual Reporting Package for Mgt Review

28. Year-end Checklist – July 12 and 13 July 12 - Management Review/Approval July 12 - Management Review/Approval July 13 – Latest date for FIRMS submission to CO’s SFSR group since 24 hour review may still be in effect July 13 – Latest date for FIRMS submission to CO’s SFSR group since 24 hour review may still be in effect July 16 – FIRMS Submission completed, pre and post close July 16 – FIRMS Submission completed, pre and post close Transmit Final SAM99 file to SCO Transmit Final SAM99 file to SCO

29. Year-end Checklist – July and August Submit all required SCO reports per instructions in year-end legal manual Submit all required SCO reports per instructions in year-end legal manual Submit all CO required reports Submit all CO required reports Additional reporting dates in September and October for GAAP and IPEDs. Additional reporting dates in September and October for GAAP and IPEDs. –Reference http://www.calstate.edu/sfsr/ http://www.calstate.edu/sfsr/

30. Discussion and Close Questions?