Knowledge Transfer Session

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A brief overview of closing rules
Dave Foreman, CSU Chico
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Year End Close Rules

• Whats Changed
• RollForward Tree
• General Fund -Yes node until reversion date
• New CSU Operating Fund - No node each year
• Fund Balance Account
• General Fund closes to 305022 Fund Balance
  Clearing
• New CSU Operating Fund closes to 305002 Fund
  Balance Continuing Appropriation

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Year End Close Rules
Whats Changed
CSU Operating Fund 485 each year (new)
General Fund 001 until reversion date (no change)
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Year End Close Rules
Whats Changed
CSU Operating Fund 485 (new)
General Fund 001 (no change)
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Year End Close Rules

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

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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Why?

• Why do we have close rules?

R
Reverting Funds
F
Fund Equity Accounts
P
Project to Date Funds
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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
• Appropriated Funds (until reversion date).
• Capital Project funds that need to have revenue
  and expense rolled forward (period 0).

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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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What?

• Examples-Queries

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What?

• Example of Chartfield Value Set

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What?

• Example-Trees

Operating Funds, Enterprise Funds and Reverting
Funds
Project to Date Funds, Appropriated Funds until
reversion date.
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What?

• Example-Trees

State Fiduciary Funds
State Governmental Funds
State Proprietary Funds
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What?

• Example-Spreadsheets

Multiple Retained Earnings
Equity Accounts for State Funds
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Put it all together
Road to Close
Fund Trees
Chartfield Value Sets
PTD
MRE
Closing Request
Closing Rules
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How?

• How are the detailed procedures performed?
• Additional sources

http//cms.calstate.edu/T2fn84bp.asp
http//cms.calstate.edu/T5FUG_Postings.asp
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When?

• When is a good time?

Test early, test often in non-production.
Practice, Verify, Validate
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Wrap up

• Questions, Comments, Suggestions, Ideas, or
  Concerns

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Contact dforeman_at_csuchico.edu 530-898-5103