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CSU Operating Fund Revenue Review - PowerPoint PPT Presentation

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CSU Operating Fund Revenue Review

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  1. CSU Operating Fund Revenue Review Year End Training May 21, 2007

  2. What is Revenue Management Program? • Budget Trailer Bill 1802 – Passed effective July 1, 2006 • Amended Ed Code 89721 – “The Chief Fiscal Officer of each campus of the CSU shall deposit and maintain in local trust accounts….. “ • (L) Moneys collected as higher education fees and income from students of any campus of the CSU and from other persons pursuant to Section 89700”Allows the CSU to deposit revenue from student fees into the State University Trust Fund D. Brothwell, CPSLO

  3. Revenue referred to in AB1802 • “Money’s collected in the Higher Education Fees and Income Fund” • SCO Fund 0498 • CSU deposited approximately $1.2B in SCO Fund 498 in 2005-2006 as of June 30, 2006 • However, campuses were not all depositing the same fee revenue • Need to establish consistent base • CSU will continue to pay the state back for lost interest earnings on these specific fees • Budget Act Item 6610-402 D. Brothwell, CPSLO

  4. Budget Act Item – “Fiscal Neutrality” D. Brothwell, CPSLO

  5. The Problem – How do we define the $1.2B? D. Brothwell, CPSLO

  6. The Solution – CSU Fund 485 Revenue Definition for all Campuses D. Brothwell, CPSLO

  7. Transfers In to CSU Fund 485 – CSU Operating Fund • Campuses can continue to record transfer in activity as appropriate with CSU fund 485 • These transfers would meet the following criteria • The funds are for state support of instruction and related programs • Can not identify a specific expenditure • EX: Cost Recovery Income D. Brothwell, CPSLO

  8. The following fee revenue shall be reported within CSU Fund 485 effective FY 2006-2007 D. Brothwell, CPSLO

  9. Implementation Issues • Health Service Fee • Campuses may continue to operate as self-support • Establish a unique PeopleSoft Fund within CSU Fund 485 • Can change FNAT but MUST create a new fund in the old CSU Fund and journal the appropriate equity amounts and transfer in/out to avoid FIRMS reject errors • Program Code classification for this activity will be “0507 – Student Health Services” within CSU Fund 485 • Was previously classified as “2001 – Auxiliary Enterprise” within the Health Service CSU Fund • Reported as CSU Fund 485, Accounted for separately D. Brothwell, CPSLO