1. Interagency Transactions Alice Kim, Sr. Manger, Financial Services / Accounting Lan Luong, Accountant, Financial Services / Accounting Chancellor’s Office April 23, 2015

2. Learning Objectives Provide a general overview of interagency transactions and its relationship to FIRMS Overview of the timeline to ensure smooth year-end legal close Review prior years’ ITT issues and resolutions April 2015Year-End Legal Training2

3. General Information – ITT report ITT report is generally published on the 1 st workday of each month At year-end, a preliminary ITT report is scheduled to be issued on June 30 th with the final report to be issued on July 6 th Interagency receivables/payables (the due from and due to accounts) and interagency transfers (transfers in and transfers out accounts) between Campuses or Campuses and CO April 2015Year-End Legal Training3

4. General Information (cont.) April 2015Year-End Legal Training4 Source: Legal Manual Chapter 29 – Misc. Accounting Legal Manual Chapter 29 – Misc. AccountingLegal Manual Chapter 29 – Misc. Accounting

5. FIRMS Edit Report/Reconciliation Campus should reconcile the ITT report with G/L balances or FIRMS edit to ensure all Interagency Transactions (Invoices/ADNOATS) are included. Interagency transfers, expenses and/or revenues should match with campus ledger every quarter. Interagency balance sheet transactions are informational and are only warnings during the 1 st, 2 nd and 3 rd quarters. However, balance sheet items will appear as errors in the 4 th quarter and must be resolved by the campus before year-end FIRMS submission. April 2015Year-End Legal Training5

6. Interagency Year-End Accruals Every attempt should be made to request a CPO to collect payment from campuses or remit payments or allocate funds by the deadline of June 17 th Communicate Interagency Transactions to the CO by the end of business day on Thursday, July 2 nd with appropriate due to/from object codes and CSU Funds: Issuing campus: FOC 131XXX: Due from (XXX=Source CSU Fund) Remitting campus: FOC 231XXX: Due to (XXX=Destination CSU Fund) New! Early Start Program amounts will be emailed by the CO, based on the DW, to campuses for verification. Confirmation is due by EOB on 7/2. April 2015Year-End Legal Training6

7. Interagency Year-End Accruals (cont.) Transactions received after July 2 nd, until Legal submission, are to be recorded as follows: The campus issuing the AR is to record 103004: AR–Operating Revenue and the remitting campus is to record 201001: AP–Other Issuing campus MUST email the related campuses and confirm the accrual entries to be recorded in the Legal Ledger. IMPORTANT! It will not be included within the FIRMS edit. Systemwide legal and GAAP adjustments are required for these entries. The campus issuing the AR/AP must email fssr@calstate.edu the back up & accounting entries by July 15 th. fssr@calstate.edu These transactions will NOT be included in TM1 Footnote 4.1: AR from CO nor Footnote 17: AP to CO Source: Legal Manual Chapter 04 – Year End Legal Manual Chapter 04 – Legal Manual Chapter 04 – April 2015Year-End Legal Training7

8. TIMELINE July 2nd: Last day to request Due To/From for inclusion in FIRMS (Lan Luong) April 2015Year-End Legal Training8 June 17th: Last day to request CPOs (Terri Porter) June 30th: Distribution of Preliminary ITT Report (Lan Luong) July 2nd: CO Accounting to email Early Start amounts to campuses for verification (Silvia Aguilar) July 6th: Distribution of Final ITT Report (Lan Luong)

9. Issues and Resolutions #1 Missing Record (CPO between campuses) Resolution: Email FIRMS edit report and/or the CPO# to Lan Luong lluong@calstate.edu. CO will resubmit the table to FIRMS and republish the ITT Report to the related campuses lluong@calstate.edu April 2015Year-End Legal Training9

10. Issues and Resolutions (cont.) #2 Incorrect FOC/CSU fund/Amount Resolution: Email FIRMS edit report and/or the CPO# to Lan Luong lluong@calstate.edu. CO will resubmit the table to FIRMS and republish the ITT Report to the campus lluong@calstate.edu April 2015Year-End Legal Training10

11. Tips Ctrl + Refresh (F5) if the current month’s ITT report is not listed on the server Subscribe to Listserv (subscribe- cofintrans@lists.calstate.edu) to receive an update on the ITT distributionsubscribe- cofintrans@lists.calstate.edu April 2015Year-End Legal Training11

12. Contacts April 2015Year-End Legal Training12 ResponsibilitiesCO ContactContact Information ITT ReportLan Luonglluong@calstate.edu 562-951-4630 CPO RequestsTerri Portercporequest@calstate.edu tporter@calstate.edu 562-951-4596 Early Start ProgramsSilvia Aguilar Cc: Kelly Cox saguilar@calstate.edu 562-951-4616 kcox@calstate.edu 562-951-4611

13. When is the last day to submit all interagency Due to/Due from transactions for the year? April 2015Year-End Legal Training13 Review Question

14. www.calstate.edu April 2015Year-End Legal Training14