D. Brothwell, CPSLO 1April 17, 2007

2007-2008 Changes to Come

D. Brothwell, CPSLO 2April 17, 2007

EO 1000 – Delegation of Fiscal Authority Processing SWAT’s CSU policies, standards, and definitions

CSU Manual to be produced New Investment Managers All qualified funds fully operational within SCO Fund

0948 CSU Reserve Policy Central Cash Management Changes Accounts Receivable Classification Changes

D. Brothwell, CPSLO 3April 17, 2007

SWAT’s in the Future – CPO Only

D. Brothwell, CPSLO 4April 17, 2007

EO 1000 – CSU Delegation of Fiscal Authority Overall approach

Create a framework that supports the development of CSU accounting definitions and standards (principle based). Create a delegation of authority based on “textbook” governmental accounting definition of funds – sustainability for the CSU.

This EO acknowledges, defines and guides the CSU, as it now operates within two succinct set of accounting records.

D. Brothwell, CPSLO 5April 17, 2007

EO 1000 defines the

activity within SCO Fund 0948

Campuses will

continue to maintain 2

distinct sets of

accounting records

D. Brothwell, CPSLO 6April 17, 2007

New CSU “Manual”

“CSU policies, standards, and definitions” refers to a unified system of CSU policies, standards, and definitions pertaining to the administration and safe-keeping of university assets, budgetary accounting and classification, financial accounting and classification, and financial reporting, and is inclusive of financial transactions between the campus and recognized Auxiliary Organizations.

D. Brothwell, CPSLO 7April 17, 2007

New Investment Managers US Bank (custodian) and Wachovia Effective with the implementation of the new investment

activity (daily sweeping of balanced) campuses will NO LONGER receive CPO documents for investment activity Daily sweep activity can be seen on-line in the Wells CEO Effective 7-2-2007, all campus Wachovia accounts will be closed

and a new CSU account held at US Bank will be opened. CMO is developing a “Bank of CSU” Statement to

replace their current Wachovia statement

D. Brothwell, CPSLO 8April 17, 2007

Central Cash Management

Beginning 7/2/2007, Chancellor’s Office will handle processing cash transfers to cover the estimated General Fund, Non-General Fund and off-cycle payroll costs in SCO 0948. No Action required by the campus other than budget projection information

Chancellor’s Office will be developing a process so that campuses do not have to manage Fund Balance Clearing for State University Trust.

D. Brothwell, CPSLO 9April 17, 2007

Accounts Receivable Classification

Previously Accounts Receivable for Student Fees that were deposited within SCO Fund 498 – Higher Education Fees and Income was classifiedSCO State GL 1313 AR-Revenue

Only valid in Governmental Funds Revenue mapped to 8040 Revenue from Services

to the Public

D. Brothwell, CPSLO 10April 17, 2007

Accounts Receivable

Now Student Fees are deposited within State University Trust (948-485) State GL for Revenue remains mapped to 8040 –

Revenue from Services to the Public AR should now be recorded in AR-Operating

Revenue 1314-0000 Also Deferred AR and Allowance for Uncollectible AR related

to Student Fee Revenue should be recorded in AR-Operating Revenue

Needs to be implemented by June 30,2008

D. Brothwell, CPSLO 11April 17, 2007

Current “Report Card” on the Exit Strategy

D. Brothwell, CPSLO 12April 17, 2007

Important Documents

Interim Guidelines Memo – March 19, 2007From Dennis Hordyk to Vice Presidents

EO 1000 – Delegation of Fiscal Authority Current Approved PFA – March 28, 2007 Year end training materials