Allocations from the CO - The California State University

The California State University

GAAP Reporting Manual

Effective June 2013

C HAPTER 5

GAAP

ADJUSTMENTS OR RECLASSIFICATIONS THAT REQUIRE INFORMATION

F

ROM THE

C

HANCELLOR

’

S

O

FFICE

O VERVIEW

The following sections include a discussion of the GAAP entries that the Chancellor’s Office

(CO) provides for posting by campuses and information it distributes to facilitate campus preparation of certain necessary GAAP entries . The entries or information provided relate to transactions managed centrally by the CO that are either not in the campuses’ legal-basis accounting records or have been recorded by the campuses on a legal basis, but which need to be reclassified for GAAP-basis reporting.

S ECTION 5-1 C ONSTRUCTION W ORK IN P ROGRESS ( NON DELEGATED PROJECTS )

S

ECTION

5-2 C

OMPLETED

C

ONSTRUCTION

P

ROJECTS

(

NON

-

DELEGATED

)

S ECTION 5-3

S

ECTION

5-4

R

R

EVENUE

EVENUE

NOT

B

B

OND

ONDS

USED

A NTICIPATION

(SRB)

N OTES ( BAN ) AND S YSTEMWIDE

S ECTION 5-5

S

ECTION

5-6

S

S

ECTION

ECTION

5-7

5-8

NOT

O

USED

THER

P

OSTEMPLOYMENT

B

ENEFITS

O

BLIGATION

C APITALIZED I NTEREST

P

ASSDOWN

E

NTRIES AND SCHEDULES

F

ROM THE

C

HANCELLOR

’

S

O

FFICE

Passdown schedules from the CO will be posted on the CO’s website at: http://www.calstate.edu/sfsr/gaap/ - under Passdown Schedules, FY 2012-2013 , select individual schedules from the drop-down menu. Please refer to the Audit and Reporting Timeline for the dates when these schedules will be available from the CO.

Last revised April 17, 2013 5-1




S ECTION 5-1

C ONSTRUCTION W ORK I N P ROGRESS (N ON -D ELEGATED P ROJECTS )

C

ONSTRUCTION

W

ORK IN

P

ROGRESS

Non-delegated projects are capital projects managed centrally by the CO. Construction projects managed by the CO for a campus may be financed by specific debt issued for construction, by capital outlay funds appropriated to the CSU from the State of California, by campus contributions, by donations, or by other debt that is not allocated to the campus. The funds for these non-delegated projects remain at the CO to pay for the non-delegated project expenses.

However, since the physical construction takes place at the campus, the costs incurred each year must be allocated to the campus in order to be properly recorded in its accounting records.

Current year construction work in progress (CWIP) expenses are allocated to the campuses via an

AD NOAT before the end of the fiscal year close to enable campuses to record them into their legal-basis accounting records. The cumulative CWIP balance as of June 30, 20PY should already be in the campuses’ legal basis accounting records as a carryforward.

Campuses will make a GAAP entry to reverse the direct credit to fund balance made on legal-basis records, as described in Chapter 4, Section 4-2 . No further information is needed from the CO for this GAAP entry.





S ECTION 5-2

C OMPLETED C ONSTRUCTION P ROJECTS (N ON -D ELEGATED P ROJECTS )

C

OMPLETED

C

ONSTRUCTION

P

ROJECTS

After a non-delegated construction project is completed, the CO provides the campus with the final cost of the completed project via an AD NOAT called “Statement of Capitalization /

Statement of Fixed Asset Additions” prior to year-end close. Upon receipt of the AD NOAT, the campus will reclassify the asset from CWIP to the proper capital assets category in its legal-basis accounting records. As a result of recording the CWIP, and the subsequent reclassification from

CWIP to the completed asset on legal-basis accounting records, there is no need for the campus to record any additional GAAP entry ( except as discussed above in Section 5-1).

Unlike SCO report 18, a completed project must be reflected as a transfer from CWIP, rather than a deletion of CWIP, in note 5 of the reporting package.

A

DDITIONS

T

O

C

APITAL

A

SSETS

For the non-delegated project expenses that qualify as additions to capital assets, the CO also provides the campus with the amount via an AD NOAT called “Statement of Capitalization /

Statement of Fixed Asset Additions” prior to year-end close. Upon receipt of the AD NOAT, the campus will record the asset to the proper capital assets category in its legal-basis accounting records. This asset must be reflected in the “additions” column in SCO report 18 and note 5 of the reporting package.





S ECTION 5-3

R EVENUE B OND A NTICIPATION N OTES (BAN) AND S YSTEMWIDE R EVENUE B ONDS (SRB)

O

BJECTIVE OF

GAAP A

DJUSTMENTS

To allocate to campuses their portion of BANs and/or revenue bonds issued to finance the development and construction of student residence and dining hall facilities, continuing education buildings, student unions, parking facilities, health facilities, and auxiliary organization facilities or to refund an existing senior debt for inclusion in the GAAP financial statements. The accounting records for the BANs and revenue bonds are maintained by the CO during the fiscal year. This section focuses on BAN and revenue bond issuances for capital construction projects.

Revenue Bond Anticipation Notes

The BAN is a financing vehicle used in anticipation of issuing permanent revenue bonds at a future date. BAN proceeds are received and invested by the CO during the construction period.

The participating campus is given spending authorization of the BAN proceeds via an allocation order from the CO. The participating campus must report the proceeds from BAN issuance on its financial statements. Below are simplified example entries either passed down by the CO and/or initiated by the campus to record the BAN proceeds on the campus’ financial statements:

EXAMPLE – The campus expended and recorded construction work in progress of $3,000,000 provided by BANs to construct a campus building during the current year. BAN proceeds totaling $3,500,000 were received and invested by the CO during the construction period. Of this amount, $500,000 was unexpended at the end of the year. Following is the adjustment that would be made to the GAAP financial statements:

This entry will be passed down as part of the allocation from the CO:

Restricted: Expendable, Capital Projects (Fund 0576.XXX)

Debit

Credit

Other long-term investments (held by CO)

Long-term debt - current

(To record BAN proceeds and related debt)

$3,500,000

3,500,000





This entry should be recorded by the campus to reclassify the debt from construction incurred during the year, from “Restricted: Expendable, Capital Projects” to “Net

Investment in Capital Assets” net position categories.


Debit Long-term debt – current $3,000,000

Credit Transfers to/from other funds

Net Investment in Capital Assets (Fund 0997.501)

Debit Transfers to/from other funds

Credit Long-term debt – current

$3,000,000

$3,000,000

$3,000,000

The transfer of debt to fund 0997.501 from fund 0576.XXX should only be made up to the amount of the fund balance clearing (construction expenditures / CWIP). The remaining

$500,000 investment balance in “other long-term investments” in the “restricted: expendable capital projects” net position category is the unexpended portion of bond proceeds held by the

CO at the end of the year. BAN proceeds that are not related to the capital asset (e.g. unexpended portion of bond proceeds, non-capitalizable expenses or debt service costs) should not be recorded in fund 0997.501 to avoid understating the net investment in capital assets.

Note : BANs are considered long-term debt liabilities because their liquidation is the result of the creation of other long-term liabilities (i.e. issuance of revenue bonds). But, they typically mature within one year from the date of the statement of net position, which is why the above example shows the entire balance of the BAN recorded as a current portion of the long-term debt obligation. The proceeds from the BAN are used to construct a noncurrent asset. Therefore, the related investments on the campus’ GAAP-basis accounting records are reported as long-term. If revenue bonds have not been issued when a BAN matures, the BAN principal and interest will continue to rollover until such time as a bond is issued, the proceeds of which will be used to extinguish the BAN.

Systemwide Revenue Bonds

Similar to the BAN, revenue bond proceeds are received and invested by the CO during the construction period. The participating campus is given spending authorization of the bond proceeds via an allocation order from the CO. The participating campus must report the bond issuance in its financial records.

The CO obtains funds from the campus to make payments on outstanding revenue bonds. On legal-basis accounting records, the campus records a reduction in cash and a transfer-out from its program (e.g. housing) operating revenue fund to the CO Fund 0578 Interest & Redemption





Fund. Below are simplified sample entries either passed down by the CO and/or initiated by the campus to record the revenue bonds on the campus’ financial statements:

EXAMPLE 1 – In the prior year, the campus was allocated revenue bond debt totaling

$5,000,000. During the current year, transfers to the CO totaled $500,000. The CO recorded interest expense of $250,000, principal payments of $150,000, and interest payable of $29,000.

Next year’s principal payment is $200,000. This example assumes the capital asset was fully constructed in the prior year, and the related debt outstanding is reflected in the Net Investment in Capital Assets, net position category. Following are the adjustments that would be made to the

GAAP financial statements:



Debit Long-term debt obligation – current $ 150,000

Debit Long-term debt obligation – noncurrent

Credit Long-term debt obligation – current

$ 200,000

$ 200,000

Credit Transfer to/from other funds $ 150,000

(To record CY principal payment and to reclassify next year’s principal payment from noncurrent to current)


Restricted: Expendable, Debt Service (Fund 0578.XXX)

Debit Interest expense $ 250,000

Debit

Credit

Short-term investments (held by CO)

Other liabilities – current (accrued interest payable)

$ 129,000

$ 29,000

Credit Transfer to/from other funds $ 350,000

(To record CY interest expense, accrued interest payable, and remaining investment balance after the transfer)





EXAMPLE 2 – The campus expended and recorded construction work in progress of

$1,000,000 provided by new revenue bonds to construct a campus building during the current year. Bond proceeds totaling $5,000,000 were received and invested by the CO during the construction period. Of this amount, $4,000,000 was unexpended at the end of the year.

Investment income earned on unexpended proceeds for the year totaled $120,000. The campus also incurred $200,000 in interest expense, but no debt service payments were transferred by the campus. Following are the adjustments that would be made to the GAAP financial statements:



Debit

Credit

Other long-term investments (held by CO)

Long-term debt obligations – noncurrent

$5,120,000

$5,000,000

Credit Investment income, net ( see capitalized interest example below )

$ 120,000

(To record bond proceeds and related debt, plus investment earnings from unexpended proceeds)



Debit Interest expense $ 200,000

Credit Short-term investments (held by CO) $ 200,000

(To record reduction of investments which were used to pay for interest expense incurred in

CY)

Capital assets recorded in the net investment in capital assets (Fund 0997.501) net position category should be reduced by the outstanding balance of the SRB that is “attributable” to the construction / improvement of the capital asset. Therefore, the entries below should be recorded by the campus to transfer the expended portion of debt proceeds during the year, from “restricted for capital projects” to “net investment in capital assets” net position categories.


Debit Long-term debt obligations – noncurrent

Credit Transfers to/from other funds


Debit

Credit

Transfer to/from other funds

Long-term debt obligations – noncurrent

$1,000,000

$1,000,000

$1,000,000

$1,000,000





The transfer of debt to fund 0997.501 from fund 0576.XXX should only be up to the amount of the fund balance clearing (construction expenditures / CWIP). Debt proceeds that are not related to the capital asset (e.g. unexpended portion of bond proceeds, non-capitalizable expenses or debt service costs) should not be recorded in fund 0997.501 to avoid understating the net investment in capital assets.

For both the BAN and SRB, campuses must analyze the interest expense and investment income passed down from the CO to determine how much, if any, of the interest expense in excess of investment income should be capitalized towards the cost of each project’s CWIP (refer to discussion of capitalized interest in Section 5-7).

These entries should be recorded by the campus to capitalize interest expense, net of investment income (from Example 2).


Debit Transfers to/from other funds $200,000

Credit Interest expense $200,000

(It’s possible to also have investment income in this net position category to capitalize.)


Debit Investment income, net $120,000

Credit Transfers to/from other funds $120,000

(It’s possible to also have interest expense in this net position category to capitalize.)


Debit CWIP $80,000

Credit Transfers to/from other funds $80,000

In March 2012, the Governmental Accounting Standards Board (GASB) issued Statement No.

65, Items Previously Reported as Assets and Liabilities . The requirements of this Statement will improve financial reporting by clarifying the appropriate use of the financial statement elements deferred outflows of resources and deferred inflows of resources to ensure consistency in financial reporting. The areas that affect allocations from the Chancellor’s Office are:

(a) Refundings of debt

(b) Debt issuance costs





According to Concepts Statement No. 4, deferred outflows of resources or deferred inflows of resrouces are defined as follows:



A deferred outflow of resources is a consumption of net assets by the government that is applicable to a future reporting period. It has a positive effect on net position, similar to assets.



A deferred inflow of resources is an acquisition of net assets by the government that is applicable to a future reporting period. It has a negative effect on position, similar to liabilities.

R EFUNDINGS OF D EBT

For current refundings and advance refundings resulting in defeasance of debt, paragraph 6 of

GASB Statement No. 65 explains that the difference between the reacquisition price and net carrying amount of the old debt should be reported as a deferred outflow of resources or deferred inflow of resources and recognized as a component of interest expense in a systematic and rational manner over the remaining life of the old debt or the life of the new debt, whichever is shorter. A loss on refunding will be reported as a deferred outflow of resources whereas a gain on refunding will result as a deferred inflow of resources in the Statement of Net Position.

D

EBT

I

SSUANCE

C

OSTS

Historically, debt costs, which include underwriting, legal, and other direct costs related to the issuance of debt, are deferred and amortized to interest expense over the contractual term of the debt. However, based on new guidance from GASB 65 paragraph 14, debt issuance costs, including but not limited to insurance costs (net of rebates from the old debt, if any) except any portion related to prepaid insurance costs, financing costs (such as rating agency fees), and other related costs (such as printing, legal, administrative, and trustee expenses), should be recognized as an expense in the period incurred. Prepaid insurance costs should be reported as an asset and recognized as an expense in a systematic and rational manner over the duration of the related debt.

In FY12-13, campuses will see a one-time entry in their SRB passdown entries to write-off any unamortized balance relating to debt issuance costs. The entry will debit interest expense and credit long-term debt obligation, noncurrent (unamortized debt issuance costs).

G AAP A DJUSTING E NTRIES

New GAAP FIRMS object codes are setup for recording loss on refundings.

 FIRMS object code 711301 “Deferred outflow of resources-unamortized loss on refunding”





For more information and examples of revenue bond passdown entries, please refer to the presentation entitled “Part 2 - Revenue Bonds Accounting - GAAP Basis” under “Revenue

Bonds Accounting Training 12-03-08

” on the CO website at: http://www.calstate.edu/sfo/

Please also refer to Section 4-10, “Financing of Auxiliary Organizations Projects – Capital

Lease Transactions with an Auxiliary Organization” for Systemwide Revenue Bonds pass down entries that are related to auxiliary organizations.





S ECTION 5-6

O THER P OSTEMPLOYMENT B ENEFITS O BLIGATION

O

BJECTIVE OF

GAAP A

DJUSTMENTS

To allocate to campuses their portion of the other postemployment benefits (OPEB) obligation for inclusion in the GAAP financial statements.

OPEB O

BLIGATION

The OPEB obligation includes the employer’s share of health and dental benefits for retirees, and are classified as billable and nonbillable accounts. Billable accounts are State funds that (1) have special revenue sources, such as fees, licenses, penalties, assessments, interest, etc., and (2) support a State department. For nonbillable accounts, the State is responsible and pays for the cost of the employer’s share of health benefits for retirees. The State also pays for the cost of the employer’s share of health benefits for retirees for billable accounts but allocates the cost to the

CSU (Chancellor’s Office) through the State’s pro rata process. The Chancellor’s Office then allocates this cost to the campuses, which only includes the health benefits portion for the billable accounts. The Chancellor’s Office pays for the cost of the employer share of dental benefits for retirees for both billable and nonbillable accounts, and does not allocate this cost to the campuses. Because of this, only the health benefits portion of the OPEB obligation for the billable accounts is allocated to and accrued by the campuses. (See below table.)

OPEB

Obligation Billable Accounts

The State allocates to the CSU. Cost is allocated to and accrued

Nonbillable Accounts

Health

Benefits

Dental

Benefits by campuses.

Accrued by the

Chancellor’s Office. No allocation to campuses.

Paid by the State. No accrual by the CSU.

Accrued by the

Chancellor’s Office. No allocation to campuses.

As an agency of the State, the CSU is included in the State’s OPEB actuarial study. Therefore, the amounts of annual required contribution (ARC), employer contributions, and net OPEB obligation (NOO) are all provided by the State Controller’s Office (by State fund). The

Chancellor’s Office estimates the portion of the OPEB obligation related to health benefits based on the percentage of each campus’ health benefits contributions compared to the total employer contributions. The Chancellor’s Office allocates this estimated health benefits portion of the





OPEB obligation to campuses based on the campuses’ retirement expenses (object code 603005) for the billable funds recorded in the legal-basis accounting records.

The following CSU funds are considered billable:

441

442

443

444

452

462

TF CERF Extended Education

TF CERF-Construction

TF CERF-Maintenance and Equipment

TF CERF-Campus Partners

TF Facility Revenue Fund-Health Facilities Fee

TF Campus Union Operating Revenue Trust

471

472

473

474

496

531

532

533

534

535

TF Parking Revenue Fund-Fines and Forfeitures Billable

TF Parking Revenue Fund-Parking Fees

TF Parking Revenue Fund-Construction

TF Parking Revenue Fund-Maintenance and

Equipment

TF Miscellaneous Trust

TF Housing-Operations and Revenue

TF Housing-Maintenance and Repair

TF Housing-Construction

TF Campus Union-Operations and Revenue

TF Campus Union-Maintenance and Repair

Billable

Billable

Billable

Billable

Billable

Billable

Billable

Billable

Billable

Billable

Billable

Billable

Billable

Billable

Billable

CERF

CERF

CERF

CERF

Health

Union

0948

0948

0948

0948

0948

0948

Parking

Fines

Parking

Fees

0948

0948

Parking

Fees 0948

Parking

Fees

Trust

0948

0948

Housing 0948

Housing 0948

Housing 0948

Union

Union

0948

0948

536

537

TF Campus Union-Construction

TF Auxiliary Org.-Operations and Revenue

Billable

Billable

Union

Aux

Opns

0948

0948

The allocation entries to record the OPEB obligation as of year-end per campus will be provided by the CO.

EXAMPLE – The current year ARC $3,000,000, employer contribution $2,000,000, and NOO

$1,000,000 are allocated to the State fund and CSU fund 0948.XXX of the campus.

Campus should record the OPEB obligation journal entry based on the GASB 45 template provided by the CO. The file will be emailed to GAAP coordinators and also posted on the

CO website.

Unrestricted (0948.XXX)

Debit Institutional support or various operating expenses

Credit

$ 1,000,000

Other postemployment benefits obligation, noncurrent $ 1,000,000





The campus must record a GAAP adjustment to accrue the NOO, which is the difference between the ARC and the employer contribution. The ARC and the employer contribution are required for footnote disclosure only and will be prepopulated by the Chancellor’s Office in note

19 of the reporting package. The campus needs to validate the numbers in the note in YES with the allocation schedule provided for recording the GAAP adjusting entries. The ARC, contribution, and NOO should agree between the note in YES and the allocation schedule.

The operating expense account(s) to be debited above is subject to the discretion of the campus because retirement expenses may have been recorded/allocated across multiple funds and programs. For information about accounting and reporting for other postemployment benefits by auxiliary organizations, please refer to Chapter 8.

Note : Campuses should only record OPEB obligations in the CSU funds which have recorded payroll expenses. For instance, the general fund (CSU fund 001) usually does not record payroll expenses and therefore should not have any OPEB obligations recorded.

Note : Campuses should NOT reverse the prior year OPEB obligations accrual until the current year-end accrual from the CO is ready for posting. This is to avoid an out-of-balance situation in the initial reporting package, which is typically due before the current year’s OPEB obligation is passed down.





S ECTION 5-7

C APITALIZED I NTEREST

Summary of Accounting Literature

Per GASB 34, paragraph 5-22

Interest costs (including amounts resulting from periodic amortization of discount or premium and issue costs on debt) shall be capitalized as part of the historical cost of acquiring certain assets. To qualify for interest capitalization, assets must require a period of time to get them ready for their intended use. Examples are assets that an enterprise constructs for its own use

(such as facilities) and assets intended for sale or lease that are constructed as discrete projects

(such as ships or real estate projects). However, interest costs cannot be capitalized on qualifying assets acquired using gifts or grants that are restricted by the donor or grantor to acquisition of those assets to the extent that funds are available from such gifts or grants.

In situations involving qualifying assets financed with the proceeds of restricted tax-exempt borrowings, the amount of interest cost to be capitalized shall be all interest cost of those borrowings less any interest earned on temporary investment of the proceeds of those borrowings from the date of borrowing until the specified qualifying assets acquired with those borrowings are ready for their intended use.

In all other situations, the interest cost eligible for capitalization shall be the interest cost recognized on borrowings and other obligations. The amount capitalized is to be an allocation of the interest cost incurred during the period required to complete the asset. The interest rate for capitalization purposes is to be based on the rates of the enterprise's outstanding borrowings. If the enterprise associates a specific new borrowing with the asset, it may apply the rate on that borrowing to the appropriate portion of the expenditures for the asset. A weighted average of the rates on other borrowings is to be applied to expenditures not covered by specific new borrowings. Judgment is required in identifying the borrowings on which the average rate is based.

Capitalization of Interest in Construction Work In Progress (CWIP)

The campus needs to determine if the capitalization of interest is required for projects that are contained in its CWIP accounts. Usually, the projects within its CWIP accounts can be broken out into 4 key categories:

1) Projects acquired using gifts, grants or State of California capital appropriations

2) Projects that are self-funded by the campus

3) Projects funded with taxable debt

4) Projects funded with tax-exempt debt





Accounting for Key Categories

1) Projects acquired using gifts, grants or State of California capital appropriations

No interest capitalization is required as the projects were acquired using gifts or grants that are restricted by the donor or grantor to acquisition of those assets to the extent that funds are available from such gifts or grants.

2) Projects that are self-funded by the campus

Campuses shall calculate the interest that could have been avoided (avoidable interest) if the qualifying assets on which the interest is based had not been constructed. The amount of interest that is actually capitalized may not exceed the actual interest cost incurred by the campus for the year.

3) Projects funded with taxable debt (e.g. Build America Bonds)

Campuses shall determine the qualifying assets, capitalization rate and capitalization period, and the amount of interest to capitalize by multiplying the capitalization rate by the average amount of accumulated expenditures for the asset during the period. If the campus associates a specific new borrowing with a qualifying asset, the campus may use the rate on that borrowing as the capitalization rate to be applied to that portion of the average accumulated expenditures for the asset that does not exceed the amount of that borrowing. If average accumulated expenditures for the asset exceed the amounts of specific new borrowings associated with the asset, the capitalization rate to be applied to such excess shall be a weighted average of the rates applicable to other borrowings of the campus.

Below is a simple step–by-step calculation:


4) Projects funded with tax-exempt debt (e.g. regular SRB bonds)




This is the category that most likely would result in interest capitalization at a campus. As noted above, the amount to capitalize shall be all interest cost of those borrowings less any interest earned on temporary investment of the proceeds of those borrowings from the date of borrowing until the specified qualifying assets acquired with those borrowings are ready for their intended use.

The Chancellor’s Office passes down to the campuses information regarding interest costs and interest earnings on the tax-exempt debt that it manages. The amount of interest costs and interest earnings that are related to this category of CWIP and the amount of interest costs and interest earnings that are related to assets which have been placed in service are provided in separate lines (by project) in the passdown entries.

For the portion of interest costs and interest earnings that are related to assets which have been placed in service, the pass down entries should be recorded by the campus as presented in the pass down entries. For the portion of interest cost and interest earnings that are related to CWIP, the campus needs to capitalize such amounts, i.e. to record the net amount as an addition to CWIP .

For more information about capitalized interest and examples of each of the above key categories, please refer to the presentation entitled “Capitalization of Interest Cost–REVISED 8-

25-08” under “Ch. 5 - Information from the Chancellor's Office

” on the CO website at: http://www.calstate.edu/sfsr/Workshops/2008/presentations.shtml





S ECTION 5-8

P ASS D OWN E NTRIES AND SCHEDULES F ROM THE C HANCELLOR

’

S O FFICE

The actual journal entries and schedules from the sections discussed in this chapter are posted on the CO website at http://www.calstate.edu/sfsr/gaap/ under Passdown Schedules. They are accessed by selecting the most recent year.

Additional schedules available on the CO website, but not covered in this chapter, include:

 General Fund Appropriations Support Summary – This schedule is used to support the state appropriations revenue, noncapital amount, that is included in the state appropriations revenue, noncapital summary schedule (see schedule listed below).



Capital Outlay Appropriations Summary – This schedule is used to tie out the state appropriations revenue, capital, on the Statement of Revenues, Expenses, and Changes in

Net Position (SRECNP).



SRB Sources and Uses Summaries – These schedules support the revenue bond pass down entries and are used to tie out the amount transferred to an escrow agent on the

Statement of Cash Flows.

 State Appropriations Revenue, Noncapital Summary – This schedule is used to reconcile to the state appropriations revenue, noncapital, on the SRECNP (refer to

Chapter 4, Section 4-13 ).



Consolidated CSU Investment Pool (SWIFT and SMIF in SCO fund 0948)

Rollforward – This schedule is used to prepare the investing activities section of the

Statement of Cash Flows and the reconciliation of investment income on the SRECNP from the CSU pooled investments.



Investments Held by CO Rollforward Schedule

– This schedule is used to tie out the ending balance for investments held by CO for SCO funds 0576, 0578, and 0575 (for applicable campuses). Please note the ending balance on this schedule is prior to any reclassification entries on the pass down schedules (e.g. entries 2.4, 2.5, 3.5 and 4.4).

 GASB 45 Template – This template supports the OPEB obligation recorded in the

Statement of Net Position and also in the Notes to the Financial

Statements.


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