Cash Flows Update

Chapter 6

Presented by KPMG LLP and CSU

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May 2008 GAAP Reporting Workshop

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Use the Updated Template Or ensure you have reviewed it along with the Word file

that has step by step instructions

Changes/updates have been incorporated

Investment Rollforward for PBC must have sufficient/complete information to support Cash Flow Statement

The rollforward will assist the campus in identifying cash flows in the Investing Section

Investment rollforward will require information from the Chancellor’s Office with respect to SWIFT

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May 2008 GAAP Reporting Workshop

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SMIF - FBC Do not include transfers between SMIF invested funds.

For example, the Dorm Revenue fund may “transfer” monies to the Dorm Maintenance and Repair fund, a transaction that does not reduce the overall SMIF investment balance.

Do not include FBC in CSU Fund 001 – General Fund

New Lines/Transactions in Capital and Related Financing Section

Notes Receivable from auxiliary organizations Principal and Interest

Cash Outflow

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May 2008 GAAP Reporting Workshop

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Noncapital Financing Section Pell Revenue

Other Revenue Reclassifications

Capital and Related Financing Section Capitalized interest expense (less interest income) is

not cash outflow from acquisition of capital assets

If debt is refunded, cash flows transferred to escrow may have interested paid component – information will be required from the Chancellor’s Office

Supplemental Noncash Disclosure Change in accrued capital asset acquisition costs

5

May 2008 GAAP Reporting Workshop

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The Process Have SNA and SRECNA locked down

Must agree to CY and PY as reported in YES

If another GAAP journal entry is booked after initial cash flow worksheet, campus must evaluate impact to cash flow and update accordingly (ex. Self-insurance je)

Additional Cash Flow Worksheet is the Meat

Troubleshooting Check Signs

Investing Activities Section

Capital and Related Financing Section