CSU Operating Fund Reserves vs Budget Balance Available - PowerPoint PPT Presentation

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CSU Operating Fund Reserves vs Budget Balance Available

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Title: CSU Operating Fund Reserves vs Budget Balance Available Author: dbrothwe Last modified by: kcox Created Date: 5/15/2008 10:01:33 PM Document presentation format – PowerPoint PPT presentation

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Date added: 6 July 2019
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Title: CSU Operating Fund Reserves vs Budget Balance Available


1
CSU Operating FundReserves vs Budget Balance
Available
2
CSU Fund 485 Operating Fund Reserve Requirements
  • Entire fund balance in the CSU Operating Fund
    (485) will be reserved via a pre-closing
    year-end entry
  • FIRMS Object Codes
  • 304018 Reserve for Encumbrance
  • Sam 6 Encumbrance Totals
  • 304016 Fund Balance Designated
  • 304015 Fund Balance Undesignated
  • 304099 Offset (all 304 accounts must net to
    zero, 304099 should equal Fund Equity)

3
Campus Unique Accounts
  • Campuses can establish multiple
    reserve/designation accounts for management
    purposes
  • Example
  • Mapped to 304016 - Designated
  • 304800 Designated for Divisions
  • 304801 Designated for University
  • Mapped to 304015 - Undesignated
  • 304802 Unallocated Campus Designation

4
Transition Year - New Activities Within CSU Fund
485 CSU Operating Fund
  • User Fees
  • Activity previously accounted for in CSU Fund 467
    Student Fees
  • Miscellaneous Course Fees
  • Health Services
  • Augmented Health Services
  • Investment Activity related to CSU Fund 485

5
CSU Fund 485 FNAT Keys
6
Using CSU Fund 485 FNAT keys
  • Separate FNAT Keys REQUIRE separate PeopleSoft
    Funds
  • SAM 6 will subtotal based on the FNAT Keys
  • SAM 6 will show the summarized net income by FNAT
    key
  • Can be used to determine reserve entry

7
Sample SAM 6
FIRM Project Value display in the Section Header
SAM 6 Sub-totals based on the FIRMS Project Value
(net income that will close to reserve)
8
Query to support SAM6
9
Fields
10
Criteria Note the Groupings
11
Having Criteria
12
Output to Excel.
13
How much money is left?
  • Budget reconciles to accounting data
  • Both Budget and Accounting should agree on the
    carry forward balance
  • Campus needs to develop its process for managing
    carry forward balances

14
Budget and Accounting Agree
15
Now you agree on the total
  • Reserve entries are based on managements plans
    for spending
  • Carry Forward to Divisions/Departments
  • Carry Forward for Centrally maintained budgets
  • Carry Forward for Encumbrances
  • Unallocated Funds
  • Etc
  • Budget Balance Available is used to determine the
    owner and/or classification of reserves

16
Revenue
  • Revenue Balances are usually centrally maintained
    by the campus
  • Unscheduled balances at year end will be part
    of the total equity amount that needs to be
    reserved
  • For ease of identification, all revenues could be
    fully allocated so that the budget balance
    available for all revenues is zero
  • By default, all funds will be identified based on
    the BBA within the expenditure budget

17
Cal Poly Sam 6 _at_ June 30, 2007 all revenues are
fully scheduled
18
Sample June 30, Sam 6 (PL) and Trial Balance
19
Managing Reserve Balances thru the year
20
Sample entries PRIOR to June 30, 2008, Reserve
entries
21
Budget and Accounting Agree
22
Sample Final Reserve Balances
23
Reserve in the non-operating funds
  • Could reserve all equity in 304016 Designated
    Balances
  • If this is your choice, you could create an
    allocation to do the reserve entry in these funds

24
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