Systemwide Revenue Bonds Terri Williams, Manager, FS / SRB & Capital Projects Alyssa Kanzaki,...
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Transcript of Systemwide Revenue Bonds Terri Williams, Manager, FS / SRB & Capital Projects Alyssa Kanzaki,...
Systemwide Revenue Bonds
Terri Williams, Manager, FS / SRB & Capital Projects
Alyssa Kanzaki, Accountant, FS / SRB & Capital Projects
Chancellor’s Office
April 24, 2015
Learning Objectives• Understand the SRB Audit process• Differentiate between SRB Legal and GAAP Reporting • Review SRB PBCs• Clarify CSU Fund 537
April 2015 Year-End GAAP Training 2
SRB Audit Process
• SRB starts with Legal
• Differences between Legal and GAAP• Capital Assets/CSU Fund 501• Expenditure vs. Capitalization• Debt
• Auxiliary Lease/Loan Activity
April 2015 Year-End GAAP Training 3
SRB Audit Process
• Legal to GAAP Reconciliation
• SRB GAAP to GAAP Comparison
April 2015 Year-End GAAP Training 4
Review PBCs
• PBC 55 – Investments Legal to GAAP Rollforward (Exhibit 32)
• PBC 81 – Capital Asset Additions
• PBC 145 – SRB Liability Leadsheet (Exhibit 45)
April 2015 Year-End GAAP Training 5
PBC 55 – Investments Legal to GAAP Rollforward (Exhibit 32)
April 2015 Year-End GAAP Training 6
PBC 81 – Capital Asset Additions
• CSU Fund is a new requirement
• SRB will use to record reclasses between Repair & Maintenance and Construction
April 2015 Year-End GAAP Training 7
PBC 145 – SRB Liability Leadsheet (Exhibit 45)
April 2015 Year-End GAAP Training 8
PBC 145 – SRB Liability Leadsheet (Exhibit 45)
• PY Reversal should not be included
April 2015 Year-End GAAP Training 9
CSU Fund 537
• Now Auxiliary Organization SRB activity only
• CSU Funds for Non-SRB Auxiliary activity• 436 - Agency Transactions• Non Agency, Non SRB transactions should be
reviewed to determine the appropriate CSU Fund• (When in doubt, please consult with Chancellor’s Office,
Systemwide Financial Standards & Reporting department)
April 2015 Year-End GAAP Training 10
What Will Help
• Inclusion of Keywords in GAAP Entry description• SRB Passdown• Reversing vs. Non Reversing• Capital Asset/CWIP
April 2015 Year-End GAAP Training 11
SRB Variance Flux Analysis
• TM1 Q & A Variance Form
• Chapter 16 – GAAP Manual
• TM1 SRB Q & A Training Video• https://csyou.calstate.edu/Employee-Resources/training/fi
nancial-services-training/Pages/tm1.aspx
April 2015 Year-End GAAP Training 12
SRB Variance Flux Analysis
April 2015 Year-End GAAP Training 13
Key Dates to Remember
• April 20 – Detail of Transfers sent to campuses
• August 3 - Fluctuation Analysis available in TM1
• August 25 - All PBCs and Flux Analysis due
• September 8 - Audited PBCs due (revisions only)
April 2015 Year-End GAAP Training 14
April 2015 Year-End GAAP Training 15
April 2015 Year-End GAAP Training 16