Introduction To Trust Fund/Special Projects Management
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Transcript of Introduction To Trust Fund/Special Projects Management
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© 2008 California State University, Fullerton
Introduction To Trust Fund/Special Projects Management
Laleh Graylee
Cecilia Patz
Financial Services
Division of Administration & Finance
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Agenda
1. CSU Funds Categories & Types
2. Characteristics of Trust Funds/Projects
3. Process of creating new Special Trust Fund Projects.
4. Required roles and responsibilities related to the on-going account management of Trust.
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CSU Fund Categories & Types
1. Enterprise Funds
2. Internal Service Funds
3. Investment Trust Funds
4. Private Purpose Trust Funds
5. Agency Funds
AuthoritySection 89721 of the Education Code & Executive Order 1000
Fund Types
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Characteristics of Trust Funds
1. Sources of Trust Fund/Special Projects• Federal Trust Funds• Self Supporting Operations Trust• Special Projects/Other Trust
2. Unique CMS Fund Code
3. Beginning & End Dates
4. Interest Allocation
5. Management Fee
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Sources of Funds/Deposits
Type ExampleFederal Trust Fund Scholarships and loan programs
Advance Payments under Federal Contracts or Grants
Self Supporting Funds/Specific Programs Fees and other revenues from instructionally
related activities (IRA).
Fees for Parking, Health Facilities or Health Services, and for Extension Programs, Special Sessions, and other self-supporting Instructional Programs.
Lottery Fund
Special Projects/Other Trust Gifts, bequests, donations, etc.
Fees and charges for optional use of Services, Materials or Facilities Money received for research, workshops, conferences, institutes, and special projects
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List of Trust Funds By Department
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Creating New Trust Projects
Required Forms
Trust Fund Agreement/Trust Fund Annual Budget
Management Approvals Division Head/Project Coordinator AVP of Finance or University Controller
Department’s Financial Management Responsibility
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Required Forms
Trust Fund Agreement Form
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Ongoing Account ManagementFor Trust/Special Projects
• Trust Agreement Renewals
– Annual Deadline – May 1st
• Reporting & Inquiry
– Budget Allocation
– Expenditure Tracking & Reconciliations
• Year End Closing and Carry-Forward Fund Balances
• Closing Existing CMS Trust Funds
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Chart of Accounts & Definition of Cost Center Review From Account Management Workshop
• Chart of Accounts– What is a Chartfield String?– Differences Between Various Types of Chart Fields– Organizational Structure– Department Tree Structure
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Chart of AccountsReview From Account Management Workshop
Chartfields
– Account (6 characters numeric)– Fund (5 characters alphanumeric)– Department ID (5 characters numeric)– Program (4 numeric)
– Class (5 alphanumeric) – Project (8 numeric)
Chartfield String
Chartfield String = Account + Fund + Department + Program + Class + Project
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Differences Between Various Chart Fields
• Mandatory chartfields– Account (6 characters numeric)– Fund (5 characters alphanumeric)– Department ID (5 characters numeric)
• Optional chartfields– Program (4 numeric) – Leave Blank– Class (5 alphanumeric) – Extension of Dept– Project (8 numeric)
Departmental Financial Management Responsibility:
Balancing at Department + CMS Fund
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Accounting Entries & Adjustments Review From Account Management Workshop
Accounting Process
– Requesting New/Existing Funds/Accounts/Projects
– Expenditure Adjustments/Corrections/Transfers
– Recharges
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Reporting Tools
Accessing Financial Information
– Reporting Tools
• Monthly Standard Reports
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Monthly Standard Reports
CMS Training Documentation and Tutorials
http://www.fullerton.edu/cms/Training/docs/finance.html
List of Distributed Reports– Budget Balance Available Report– Requisitions/P.O. Report– Expenditure Summary & Detail– Open Commitments
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Access to Distributed Reports
Portal Log Ine-Content Tab
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Access to Distributed Reports
Distributed Reports
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Select ReportEncumbrance/Expenditure ReportSort: By Fund
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Select ReportExpenditure Summary ReportSort: By Fund
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Select ReportBudget Balance Available ReportSort: By Fund
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Budget Balance Available Report – Revenue & Expense
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Reference• Website address for Trust Agreement
http://finance.fullerton.edu/Controller/Accounting/TrustFunds.aspx
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Thank You!