secrets of your success, year-end close matias farre, asst. director of accounting csu san...
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Secrets of Your Success, Year-End Close
Matias Farre, Asst. Director of Accounting
CSU San Bernardino
April 23, 2015
CSU San Bernardino, quick facts:
• 19,000 students • Satellite Palm Desert Campus• Quarter campus• Undergraduate/Graduate/Doctorate• 50th Anniversary• Cost recovery – Option 1
April 2015 Year-End Legal Training 2
Benefits of closing early
• Reduced stress• Able to take long July 4 weekend• Work 4/40 schedule • More time for GAAP• Seamless for campus departments• Help with systemwide deadline
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3 keys to success
1. Planning
2. Communication
3. Did we mention planning and communication?
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Planning
Accountability: Year-End task List
-> If task too big, break it down
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Communication
• Bi-weekly finance meetings: representatives from General Accounting, AP, Purchasing, Budget and CMS• Weekly meetings start in May• Year-End task list in Google Docs• Single point of contact with CO• Several emails to Campus regarding year-end
deadlinesApril 2015 Year-End Legal Training 6
Our focus during past few years..
Identified bottlenecks / weakest links• Labor Cost Distribution (LCD)• Subsystems• Data integrity (FIRMS)
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Something to think about
• Access + Cross training• Multiple individuals with system access to run
processes (backup to backups..)• Opportunities for growth within Campus resulted
in staff members with wide range of expertise
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What’s in your ledger?
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Manual; 54682; 63%
System; 32290; 37%
Number of Journal Lines - by Source
What’s in your ledger?
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Total $-
$50,000,000.00
$100,000,000.00
$150,000,000.00
$200,000,000.00
$250,000,000.00
$300,000,000.00
$350,000,000.00
Manual; $34,200,147.41
System; $322,993,651.00
Dollar amount - by Source
Manual System
What’s in your ledger?
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Manual Billings; 703; 1%
Manual CashNet; 501; 1%
Manual Journal Entry; 18106; 21%
Manual PO/Travel/ProCard/Other; 35372; 41%
System LCD; 30432; 35%
System Student Accounts; 1858; 2%
Number of Journal Lines - detail
What’s in your ledger?
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• Helped us focus on areas• Subsystems play a key role in our data integrity.
Work closely with individuals managing CashNet and Student Financials
To book it, or not to book it, that is the question…
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Our criteria:
1. Compliance
2. Decision making
3. Materiality
Examples:• AP accruals• Prepaid expenses• Deferred revenues
Recording in Legal vs GAAP
How are we doing?
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