Auxiliary Organizations GAAP Timeline Su Chen, Financial Reporting Analyst, FS / SFSR Chancellor’s...
-
Upload
rose-norton -
Category
Documents
-
view
214 -
download
0
Transcript of Auxiliary Organizations GAAP Timeline Su Chen, Financial Reporting Analyst, FS / SFSR Chancellor’s...
Auxiliary OrganizationsGAAP Timeline
Su Chen, Financial Reporting Analyst, FS / SFSR
Chancellor’s Office
May 19, 2015
Learning Objectives
At the end of the session, participants will be able to: • Locate the master timeline in the SFSR website.• Know the reporting deliverables and deadlines
for discretely presented component units in relation to the CSU GAAP reporting purposes.
May 2015 Year-End GAAP Training 2
Master Timeline Location• The Master Audit and Reporting Timeline is located at the
Systemwide Financial Standards & Reporting (SFSR) website: (http://www.calstate.edu/SFSR/Workshops/index.shtml).
May 2015 Year-End GAAP Training 3
Master Timeline Location (continued)• Filter Reporting Group column on “Component Units” to view the
reporting deadlines for component units as demonstrated below.
May 2015 Year-End GAAP Training 4
Component Units GAAP Timeline – Overview
• Submit FIRMS Legal Basis Data (L-033)
July 2015
• Submit audited F/S and GAAP checklist (G-097)
September 2015
• Submit hard copy of audited F/S (G-108)
• Submit letter signed by campus President (G-111)
• Submit FIRMS IPEDS Data (G-132)
• Submit Single Audit A-133 reports (G-140)
• Submit Auditor’s Communications to Management (G-140)
October 2015
• Receive the Corrective Action Plan template from SFSR (G-141)
November 2015
• Submit the completed Correction Action Plan (G-146)
December 2015
May 2015 Year-End GAAP Training 5
Component Units GAAP Timeline – July
May 2015 Year-End GAAP Training 6
SUN MON TUE WED THUR FRI SAT
28 29 30 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1
L-033
•7/31/2015 - Submit FIRMS Legal Basis Data. (L-033)
• As prescribed in the FIRMS Submission Guidelines
http://www.calstate.edu/es/intranet/applications/fob/firms/documents/new_firms_submissions.pdf
• The template for submitting FIRMS legal basis data is saved at SFSR website.
http://www.calstate.edu/SFSR/gaap/2014-2015/GAAPManual/Aux_Org_Legal_Basis_Template_2015.xls
July 2015
Component Units GAAP Timeline – September
May 2015 Year-End GAAP Training 7
SUN MON TUE WED THUR FRI SAT
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
G-097
20 21 22 23 24 25 26
27 28 29 30 1 2 3
September 2015 •09/18/2015 – Submit audited financial statements and GAAP Financial Reporting checklist into PBC SharePoint. (G-097)
Submit audited F/S & checklist
Compo. Units
Upload audited F/S and checklist to PBC SharePoint
Campus SFSR
"Final Draft" pending approval or presentation to its governing body (if required) is allowed to the extent that there are no expected changes to the financial statements.
PBC FY 2014-2015:https://csyou.calstate.edu/groups/fsaudit/PBC%20FY%2020142015/Forms/AllItems.aspx
Component Units GAAP Timeline – October
May 2015 Year-End GAAP Training 8
SUN MON TUE WED THUR FRI SAT
27 28 29 30 1 2 3
4 5 6 7 8 9 10
G-108G-111
11 12 13 14 15 16 17
18 19 20 21 22 23 24
G-132
25 26 27 28 29 30 31
G-140
October 2015•10/5/2015 - Submit one hard copy of the component units audited financial statements. (G-108)
Mail hard copy to:Sedong JohnDirector, Systemwide Financial Standards & Reporting
Office of the ChancellorThe California State University401 Golden Shore, 5th FloorLong Beach, CA 90802-4210
Component Units GAAP Timeline – October (continued)
May 2015 Year-End GAAP Training 9
SUN MON TUE WED THUR FRI SAT
27 28 29 30 1 2 3
4 5 6 7 8 9 10
G-108G-111
11 12 13 14 15 16 17
18 19 20 21 22 23 24
G-132
25 26 27 28 29 30 31
G-140
October 2015 •10/5/2015 - Submit the original signed letter of Campus President’s review of component unit’s audited financials. (G-111)
Mail original letter to:Steven RelyeaExecutive Vice Chancellor and Chief Financial OfficerOffice of the ChancellorThe California State University401 Golden Shore, 5th FloorLong Beach, CA 90802-4210
Send PDF Copy to:[email protected]
Submit singed letter
Compo. Units
Mail original singed letter and send PDF
copyCampus SFSR
Component Units GAAP Timeline – October (continued)
May 2015 Year-End GAAP Training 10
SUN MON TUE WED THUR FRI SAT
27 28 29 30 1 2 3
4 5 6 7 8 9 10
G-108G-111
11 12 13 14 15 16 17
18 19 20 21 22 23 24
G-132
25 26 27 28 29 30 31
G-140
October 2015 •10/23/2015 - Submit FIRMS IPEDS Data. (G-132)
• As prescribed in the FIRMS Submission Guidelines
http://www.calstate.edu/es/intranet/applications/fob/firms/documents/new_firms_submissions.pdf
• The template for submitting FIRMS IPEDS data is located at SFSR website
http://www.calstate.edu/sfsr/gaap/2014-2015/GAAPManual/Aux_Org_IPEDS_2015.xls
Component Units GAAP Timeline – October (continued)
May 2015 Year-End GAAP Training 11
SUN MON TUE WED THUR FRI SAT
27 28 29 30 1 2 3
4 5 6 7 8 9 10
G-108G-111
11 12 13 14 15 16 17
18 19 20 21 22 23 24
G-132
25 26 27 28 29 30 31
G-140
October 2015 •10/30/2015 (G-140)- Submit Single Audit A-133 reports (if required).
- Submit Auditor’s Communications to Management indicating whether or not there are any significant deficiency and/or material weakness on the financial statement audit.
Send the electronic copies to:[email protected]
Please indicate in the email to SFSR if there are no written communications from auditors
Submit A-133 report & Auditor’s
Communications
Compo. Units
Send the electronic copiesCampus SFSR
Component Units GAAP Timeline – November
May 2015 Year-End GAAP Training 12
SUN MON TUE WED THUR FRI SAT
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
G-141
22 23 24 25 26 27 28
29 30 1 2 3 4 5
November 2015
•11/18/2015 - SFSR to provide the Corrective Action Plan template to campuses. (G-141)
Template will be emailed to campus GAAP coordinators
May 2015 Year-End GAAP Training 13
Component Units GAAP Timeline – December
SUN MON TUE WED THUR FRI SAT
29 30 1 2 3 4 5
G-146
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2
December 2015•12/2/2015 - Submit the completed Correction
Action Plan. (G-146)
Send completed template to:[email protected]
Submit Correction Action Plan
Compo. Units
Email the completed template
Campus SFSR
Quiz
Question 1 Which of the following parties would be the user of the component units audited financial statements that are due on September 18th?
May 2015 Year-End GAAP Training 15
A Campus GAAP Coordinators
B Finance & Treasury
C KPMG
D A & B only
E All of the above
Question 2 Which of the following reports is due on October 5th?
May 2015 Year-End GAAP Training 16
A
One hard copy of the component units audited financial statements.
B PDF copy of component units audited financial statements.
C The original signed letter of Campus President’s review of component unit’s audited financials.
D A & C only
E B & C only