California State University Common Management Systems Dave Foreman, CSU Chico A brief overview of...

California State University

Common Management Systems

Dave Foreman, CSU Chico

A brief overview of closing rules

Legal Close Rules & Process: May 23, 2006

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California State UniversityCommon Management Systems

Year End Close Rules Why? What? How? When?

Year End Close Rules

Why do we have close rules?

What tools do we need?

How are the detailed procedures performed?When is a good time?


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California State UniversityCommon Management Systems

Why?

Why do we have close rules?

R

F

P

Reverting Funds

Fund Equity Accounts

Project to Date Funds


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California State UniversityCommon Management Systems Why?

Reverting Funds Reverting Funds must be identified and cleared to

zero.

Fund Equity Accounts Legal closing requirements specify that revenues and

expenses close to different Fund Equity Accounts (3050XX) based on SCO Fund.

Project to Date Funds Continuing appropriation funds. Capital Project funds that need to have revenue and

expense rolled forward (period 0).


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California State UniversityCommon Management Systems What?

What tools do we need? Chartfields

- Need understanding of revenue, expense, and fund equity accounts in order to create chartfield value sets

Trees- Used in defining chartfield value sets

Chartfield Value Sets- Combination of chartfields and trees used in closing process

Queries- Use queries to identify fund and account attributes

Spreadsheets- Store and reorganize data


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Examples-Queries


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Example of Chartfield Value Set


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Example-Trees


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Example-Spreadsheets

Microsoft Excel Worksheet

Multiple Retained Earnings

Equity Accounts for State Funds


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California State UniversityCommon Management Systems Put it all together

Fund TreesRoad to Close

Chartfield Value Sets

Closing Rules Closing Request

“PTD”

“MRE”


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California State UniversityCommon Management Systems How?

How are the detailed procedures performed? Additional sources

http://cms.calstate.edu/T5FUG_Postings.asp

http://cms.calstate.edu/T2fn84bp.asp


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California State UniversityCommon Management Systems When?

When is a good time?

Test early, test often in non-production. Practice,

Verify, &

Validate


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California State UniversityCommon Management Systems Wrap up

Questions, Comments, Suggestions, Ideas, or Concerns…

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Contact: [email protected]

530-898-5103

California State University Common Management Systems Dave Foreman, CSU Chico A brief overview of...

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