May 2009

Year-End Planning and Checklist

AGENDA

Reminder for Close Preparation and Planning Year-End Checklist and Timeline

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May 2009

Reminders for Close Close General Fund without accruals or current year

Budget Balance Available (BBA) Entries for unpaid Claims Do not accrue:

Payroll CSURMA 09/10 Campus Premiums State University Grant (SUG)

Prepare for designated Fund Balance entries for Fund 0948.485 and 0948.441, 442 & 443 Please be sure that the designations include the entire

post-close equity for the fund.

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Preparation and Planning

Preparation and Planning Monthly recons – Keep ‘em current and resolve factors

Preparation begins in January and February

Consider changes on YOUR campus - (PS Student Finance, GL issues, PS AR/BI, Asset Mgt)

Look at last year, how did you do?

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Preparation and Planning

Preparation and Planning Key Deadlines

Work backwards from these dates when planning June 15 - SCO Cut-off for Claims\PFA’s\Transfer Requests July 15 – FIRMS Submission COMPLETED (24 hour review

backs this up to July 14) All SCO required reports per legal manual

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Preparation and Planning

April/May 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 Meet with departments or contact third-party providers to

determine dates information will be ready or potential cut-off of activity to meet deadlines

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Year-End Checklist

May Collect data and analyze capital leases, capital projects &

other potential complex transactions Develop strategy for booking to ledger

Chancellor’s Office will pull back in reverting General Fund (in 2009, pull back 2005)

Review reverting funds Clear any remaining assets and liabilities CY revenues and expenses will close to fund balance

clearing

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Year-End Checklist

May Review closing rules and trees

Update for reverting/reverted funds Use PS queries based on reversion date and compare

to campus trees Confirm all of 0948 funds close to 305002, pay special

attention to FNAT flip funds. Ensure budget and actuals equal (BBA=0) in the following

CSU Operating Fund (CSU Fund 485) accounts: 506100 – SWAT Transfers In 680100 – SWAT Transfer Out 690003 – General Fund Transfer In

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Year-End Checklist

May Review revenue in CSU Operating Fund

Make sure appropriate revenues are recorded Augmented Health to CSU fund 485

Miscellaneous Financial Aid – Restricted to CSU Fund 431

Miscellaneous Financial Aid – Unrestricted to CSU Fund 435

Campus internal service providers to 543: TF Campus Services - Internal Services

Campus external service providers to 544: TF Campus Services - Enterprise

Budget and Accounting develop a plan for year-end reserve entries

Create campus accounts as needed for reserves

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Year-End Checklist

Early June Close and reconcile May data Notify Auxiliaries of Year-End Deadlines

FIRMS 7/31/09 GAAP 9/30/09 IPEDS 10/30/09

Request Contingent Liabilities list June 15th SCO MUST have final 2008/09

Claims/PFA/Transfer Requests in Hand for guaranteed processing

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Year-End Checklist

Mid-June Upon notification from the CO, submit test SAM99 Files

to the SCO until the SCO personnel indicate a “clean” submission.

Campus Allocation of 4Q SWIFT Investment Earnings Remember 4Q is March, April and May June interest will be distributed late July to be accrued in

GAAP

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Year-End Checklist

No later than June 22nd

Review and Adjust A/R Reserves– Remember to use contra-revenue allowance/bad debt

accounts Clear all known SAM99 reconciliation issues Clear all known FIRMS error messages

Remember warning messages usually turn to errors in the 4th quarter

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Year-End Checklist

No later than June 30th

Record all chargebacks 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

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Year-End Checklist

No later than June 30th Post/Reconcile Payroll Post Final ProCard statement Receiving Completed Close Purchasing Final recording of Cash Receipts Close Cash Receipts Final Check Run/Claims Close Accounts Payable

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Year-End Checklist

July Week 1 CO Data will be communicated to campuses via AD

NOAT no later than July 7 Non-Delegated CWIP / Additions to Fixed Assets (IT

Infrastructure) Fund Balance Clearing (FBC) 4th Quarter CSURMA Deductible Recovery Interagency AR/AP (including CSURMA IDL/NDI/UI accruals)

Run and Post GL 15 process Manually liquidate Reimbursed Activities remaining

Encumbrance Balance Complete Manual Obligations Fixed Assets and Retention Entries Complete

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Year-End Checklist

July, Week 1, Continued

Final Reimbursed Activities Billing Completed/Confirm RA in Balance by CSU Fund

Reconciliation of all subsystems to ledger complete: ARBI, Student, etc.

Complete routine month-end journal entries Load WFB Bank Statement and begin reconciliation

Cleared Checks/Paid SCO Claims (CD102)/SAM99 Files

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Year-End Checklist

July, Week 1, Continued Bank reconciliation completed

Bank of CSU Statement distributed no later than July 7th Resolve Negative Cash Balances

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

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Year-End Checklist

July, Week 2 All entries now under the supervision of Campus Budget

Office Ensure budget and actuals equal (BBA=0) in the following

CSU Operating Fund (CSU Fund 485) accounts: 506100 – SWAT Transfers In 680100 – SWAT Transfer Out 690003 – General Fund Transfer In

Review Revenue in CSU Operating Fund Make sure appropriate revenues are recorded

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Year-End Checklist

July, Week 2 Review General Fund (SCO fund 0001) Clear any remaining FIRMS errors Final review of program/ledger balances

Clear any remaining deficits Book Reserve entries to CSU Fund 485

304015 Reserve for Operations 304016 Reserve for Campus Dept / Obligations 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

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Year-End Checklist

July, Week 2 Close xxCMP Business Unit to prevent further entries Generate Final SAM99 File Final FIRMS derivation Close xxCSU Business Unit to prevent further entries Prepare Manual Reporting Package for Management

Review

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Year-End Checklist

July 14 and 15 July 14 - Management Review/Approval July 14 – Latest date for FIRMS submission to CO’s SFR

group for 24 hour review July 15 – FIRMS Submission completed, pre and post

close Transmit Final SAM99 file to SCO

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Year-End Checklist

July and August Run PO Rollover in xxCMP and xxCSU Submit all required SCO reports per instructions in year-

end legal manual– The SCO requires a separate certification letter for each

state fund submitted through SAM99 or in hard copy. Submit all CO required reports Additional reporting dates in September and October for

GAAP and IPEDs.

Reference http://www.calstate.edu/sfsr/

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Year-End Checklist