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Banking Implementation Overview

Banking Implementation Overview Key Dates for Depository Bank Implementation Depository Account Implementation October 25 – LAX Westin, 8:30am-12 noon Depository Account Training provided by Wells Fargo Bank November 1 – 15

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Banking Implementation Overview

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  1. Banking Implementation Overview

  2. Key Dates for Depository Bank Implementation Depository Account Implementation • October 25 – LAX Westin, 8:30am-12 noon • Depository Account Training provided by Wells Fargo Bank • November 1 – 15 • Depository Accounts officially opened by Cash Management Operations on behalf of all campuses. • December 1 – 15 • Certification of all Armored Carrier Contracts & Services • December 4-8 – • Webinar depository training sessions for campuses sponsored by Wells Fargo Bank • January 2 – • Go live with depository accounts – all campuses • January 2-5 – • Webinar depository training sessions for campuses sponsored by Wells Fargo Bank 2

  3. Implementing Depository Accounts Campus Implementation Actions for Depository Accounts • Campuses implement updated Depository Policies & Procedures • Wells Fargo’s vendor will provide all supplies needed for the first 6 months of operations – campuses can order their own supplies (deposit tickets, cash vault bags) when initial stocks run out or they can choose to continue with Wells Fargo’s vendor • Campuses assign location identifiers for each depository location at each individual campus for deposit ticket printing • Campuses prepare for automated depository reconciliation from Wells Fargo 3

  4. Implementing Depository Accounts Campus Implementation Actions for Depository Accounts • Campuses are trained in using Wells Fargo’s CEO Workstation • Campuses (with assistance from Cash Management Operations) give new delivery instructions to Armored Carriers effective 01/02/07 • Campuses instruct Credit/Merchant Card and Internet Payment vendors to direct credits to the new Wells Fargo depository account effective 01/02/07 4

  5. Key Dates for Disbursement Bank Implementation Disbursement Account Implementation • January 2 – 15 – Disbursement Accounts officially opened by Cash Management Operations on behalf of all campuses • January 15-19 – • Wells Fargo sponsored training on disbursement accounts for Phase I campuses in Northern California • January 15-19 – • Wells Fargo sponsored training on disbursement accounts for Phase I campuses in Southern California • February 1 – Phase I – • Go live with disbursement accounts for Chancellor’s Office, Long Beach, Sonoma, Humboldt, San Jose, San Luis Obispo, Stanislaus, San Diego 5

  6. Key Dates for Disbursement Bank Implementation Disbursement Account Implementation • February 12-16 – • Wells Fargo sponsored training on disbursement accounts for Phase II campuses in Northern California • February 12-16 – • Wells Fargo sponsored training on disbursement accounts for Phase II campuses in Southern California • March 1 – Phase II • Go live with disbursement accounts for Maritime Academy, Sacramento, Northridge, Bakersfield, Pomona, San Marcos, Fresno, San Francisco, Los Angeles 6

  7. Key Dates for Disbursement Bank Implementation Disbursement Account Implementation • March 12-16 – • Wells Fargo sponsored training on disbursement accounts for Phase III campuses in Northern California • March 12-16 – • Wells Fargo sponsored training on disbursement accounts for Phase III campuses in Southern California • April 2 – Phase III • Go live with disbursement accounts for Monterey Bay, Dominguez Hills, Chico, Channel Islands, East Bay, San Bernardino, Fullerton 7

  8. Implementing Disbursement Accounts Campus Implementation Actions for Disbursement Accounts • Campuses implement Account Reconcilement & Positive Pay file transmissions to and from Wells Fargo • Campuses train on Wells Fargo Account Reconcilement • Campuses modify check printing for new account • Campuses modify ACH files and transmission to Wells Fargo • Campuses implement CEO Workstation for: • Balance & Transaction Reporting • Wire Transfer Origination • Positive Pay Management • Stop Pay Management 8

  9. Key Dates for Bank Implementation Actions to Implement Cash Management Operations • October 9th • Initial meeting of Banking, Cashiering and Internal Controls Committee – Cashiering Guidelines must be completed by December 1st • Week of October 9th • RFP issued to potential Investment Managers • October 31st • Campuses provide completed matrix of delegations to Cash Management Operations • November 15-30 • Interviews with Investment Manager Finalists – CABO Committee (Bill Griffith, Long Beach; Sally Roush, San Diego; Larry Schlereth, Sonoma; Mary Stephens, Stanislaus) • December 11th • Selection of Investment Manager • January 2nd • Investment Manager in place 9

  10. Dormitory Revenue Funds (DRF) Dormitory Revenue Funds • Revenues from Housing, Parking, Student Centers (without Senior Debt), Student Health Facilities Fees, and Continuing Ed (currently deposited in Trust Fund 498 with State) can be deposited into new Depository Accounts -- expenditures for these activities can be made from new Disbursement Accounts - net investments occurring in SWIFT • DRF-related reserve funds (Working Capital, Major&Deferred Maintenance, Equipment Repair, Replacement, etc.) will be retained by CSU; do not deposit and remit to State Treasurer accts • DRF balances in State Trust Fund 498 can be drawn down from the STO – instructions on how to do that will follow • STO remains bond trustee to CSU – in that role, will control bond proceeds during construction and interest and principal payment accounts – transfers will be needed in advance of May and November payments 10

  11. Baseline Depository Services Baseline Depository Services • Campuses may have multiple depositing locations on campus; however, they are strongly encouraged to consolidate check, currency, and coin into a single deposit each day • Campuses may have sub-accounts for credit card and internet payment receipts in addition to main depository sub-account; this will facilitate reporting and reconciliation • All campuses will deposit cash at a Wells Fargo Cash Vault; this may dictate earlier pick-up times at some campuses • Campuses may deposit every week-day or only on certain regularly-scheduled days of the week, depending on campus volumes • All campuses will split deposits between checks and coin/currency – deposit tickets will be prepared in triplicate • Campuses will use CEO Workstation to place on-line orders for change and supplies 11

  12. Baseline Depository Services • Campuses will use CEO Workstation to perform on-line cash vault inquiries, to obtain previous day balance and detail reporting, return item detail reporting and images, and on-line statements and other reports – it can also provide wire detail reporting and intraday ACH receipt reporting – on-line reports will be available for 30 days • Campuses can set-up ACH Fraud Filters to review all ACH Debits or to block all Debits • Returned item notices will be mailed to campus, and individual Debits created for each item, and will be re-deposited automatically when returned for Not Sufficient Funds/Uncollected Funds • Partial Account Reconcilement will be provided on-line and in paper, sorted by location, and mailed to the campus • Account analysis statements will be accessed on-line only Baseline Depository Services 12

  13. Optional Depository Services Optional Depository Services • Will be provided to campuses, as requested • Requests for optional services should be made through Cash Management Operations • Examples of those services are: • Intraday wire detail report • Intraday ACH detail report • Deposit Detail Report • Remote Deposit 13

  14. Baseline Disbursement Services Baseline Disbursement Services • Each Campus will have a Controlled Disbursement Account for checks • Each Campus will have a Wire Transfers & ACH Disbursement Account • Controlled Disbursement Accounts will have Full Account Reconcilement, Positive Pay & Perfect Presentment • Account Reconcilement will provide a Cleared Check Report • Campuses will originate Wire Transfers by CEO Workstation • Campuses will originate ACH transactions using direct transmission to Wells Fargo Bank 14

  15. Baseline Disbursement Services Baseline Disbursement Services • Campuses will use CEO Workstation to retrieve Balance & Transaction Reports • Prior Day Balance & Transaction Report • Same Day Check Clearing Report • On-Line Check Image Lookup • On-Line Stop Payment • Campuses will use CEO Workstation to enter manual check items into the Account Reconcilement Plan (Positive Pay) 15

  16. Cash Management Operations Campus Authorities, Signatories and Account Changes • Cash Management Operations will open all Campus accounts • Cash Management Operations will “purchase” all Campus banking services • Cash Management Operations will act as interface with Wells Fargo Bank for all changes regarding signature and account authorizations and privileges. • Cash Management Operations will examine monthly Wells Fargo Bank Account Analyses, determine correct billings, and pay the invoice on behalf of all Campuses • Cash Management Operations will provide Campuses with a periodic reports of SWIFT interest earned and bank service charges. • Partial Account Reconcilement will be provided on-line and in paper, sorted by location, and mailed to the campus • Account analysis statements will be accessed on-line only 16

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