Year-End Planning and Checklist

1. May 2009 Year-End Planning and Checklist

2. AGENDA • Reminder for Close • Preparation and Planning • Year-End Checklist and Timeline

3. Preparation and Planning 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.

4. 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?

5. 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

6. Year-End Checklist 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

7. 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

8. 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

9. 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

10. 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

11. 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

12. 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

13. 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

14. 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

15. 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

16. 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

17. 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

18. 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

19. 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

20. 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

21. 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

22. 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/