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California State University
Common Management Systems
Legal Basis Reporting Workshop
May 19, 2008
Closing Rules
Legal Close Rules & Process: May 19, 2008
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California State UniversityCommon Management Systems
What’s Changed No changes, however as a reminder….
RollForward TreeGeneral Fund -Yes node until reversion date
CSU Operating Fund - No node each year
Fund Balance AccountGeneral Fund closes to 305022 Fund Balance Clearing
CSU Operating Fund closes to 305002 Fund Balance Continuing Appropriation
REVIEW FNAT Flip Funds!
Year End Close Rules
Legal Close Rules & Process: May 19, 2008
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California State UniversityCommon Management Systems Year End Close Rules
What’s Changed
General Fund 001 until reversion date
CSU Operating Fund 485 each year
Legal Close Rules & Process: May 19, 2008
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California State UniversityCommon Management Systems Year End Close Rules
What’s Changed
CSU Operating Fund 485
General Fund 001
Legal Close Rules & Process: May 19, 2008
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California State UniversityCommon Management Systems
Year End Close Rules Why? What? How? When?
Year End Close Rules
Why do we have close rules?
What tools do we need?
How are the detailed procedures performed?When is a good time?
Legal Close Rules & Process: May 19, 2008
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California State UniversityCommon Management Systems
Why?
Why do we have close rules?
R
F
P
Reverting Funds
Fund Equity Accounts
Project to Date Funds
Legal Close Rules & Process: May 19, 2008
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California State UniversityCommon Management Systems Why?
Reverting Funds Reverting Funds must be identified and cleared to
zero.
Fund Equity Accounts Legal closing requirements specify that revenues and
expenses close to different Fund Equity Accounts (3050XX) based on SCO Fund.
Project to Date Funds Appropriated Funds (until reversion date). Capital Project funds that need to have revenue and
expense rolled forward (period 0).
Legal Close Rules & Process: May 19, 2008
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California State UniversityCommon Management Systems What?
What tools do we need? Chartfields
- Need understanding of revenue, expense, and fund equity accounts in order to create chartfield value sets
Trees- Used in defining chartfield value sets
Chartfield Value Sets- Combination of chartfields and trees used in closing process
Queries- Use queries to identify fund and account attributes
Spreadsheets- Store and reorganize data
Legal Close Rules & Process: May 19, 2008
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California State UniversityCommon Management Systems What?
Examples-Queries
Legal Close Rules & Process: May 19, 2008
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California State UniversityCommon Management Systems What?
Example of Chartfield Value Set
Legal Close Rules & Process: May 19, 2008
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California State UniversityCommon Management Systems What?
Example-Trees
Operating Funds, Enterprise Funds and Reverting Funds
Project to Date Funds, Appropriated Funds until reversion date.
Legal Close Rules & Process: May 19, 2008
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California State UniversityCommon Management Systems What?
Example-Trees
State Governmental Funds
State Proprietary Funds
State Fiduciary Funds
Legal Close Rules & Process: May 19, 2008
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California State UniversityCommon Management Systems What?
Example-Spreadsheets
Microsoft Excel Worksheet
Multiple Retained Earnings
Equity Accounts for State Funds
Legal Close Rules & Process: May 19, 2008
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California State UniversityCommon Management Systems Put it all together
Fund TreesRoad to Close
Chartfield Value Sets
Closing Rules Closing Request
“PTD”
“MRE”
Legal Close Rules & Process: May 19, 2008
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California State UniversityCommon Management Systems How?
How are the detailed procedures performed? Additional sources
http://cms.calstate.edu/T5FUG_Postings.asp
http://cms.calstate.edu/T2fn84bp.asp
Legal Close Rules & Process: May 19, 2008
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California State UniversityCommon Management Systems When?
When is a good time?
Test early, test often in non-production. Practice,
Verify, &
Validate
Legal Close Rules & Process: May 19, 2008
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California State UniversityCommon Management Systems Wrap up
Questions, Comments, Suggestions, Ideas, or Concerns…
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