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Campus Revolving Fund/Pooled Investment Activity

Campus Revolving Fund/Pooled Investment Activity October 24-25, 2007 Lisa Chavez Overview of Memo Funds What’s changed Revolving Fund Pooled Investment Fund What do we do now?? Revolving Fund Investment Fund THAT WAS LAST YEAR! Other Stuff CSU FUND 499 CSU FUND 499 in 2007/2008

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Campus Revolving Fund/Pooled Investment Activity

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  1. Campus Revolving Fund/Pooled Investment Activity October 24-25, 2007 Lisa Chavez

  2. Overview of Memo Funds • What’s changed • Revolving Fund • Pooled Investment Fund • What do we do now??

  3. Revolving Fund Investment Fund THAT WAS LAST YEAR! Other Stuff CSU FUND 499

  4. CSU FUND 499 in 2007/2008 • To be used only for Revolving Fund for claimable funds or advances • All other non revolving fund type activities currently recorded there must be moved out by yearend • Fund must net to zero at yearend using Due to/Due from accounts if necessary • Still okay to have negative cash during year

  5. HA001 AP Liability-201001 HA001 Supplies & Services - 660003 • Enter Voucher • Pay Voucher • Claim Voucher • Deposit Warrant • Enter CD102 • (no accounting entries) Accounting Entry Changes Post RMP for Claim Schedule Processing (2)300 <300> (1) (1) 300 HA001 Cash in Agency - 101006 HA001 Fund Bal Clearing - 305022 (3) 300 <300> (2) <300> (3) DVP01 Cash in Agency - 101006 DVP01 Claims AR Clearing - 103002 (4) 300 <300> (3) (3) 300 <300> (4) It eliminated the Due to/Due from entries

  6. Entries will be needed at Yearend if all claim schedules are not deposited by yearend to zero out CSU fund. • Accounts Receivable clearing account (103002) needs to be reclassed to appropriate Due From 105XXX account at yearend. (Debit Due from 105XXX-Credit A/R clearing account 103002) • One entry for each fund that “owes” back Fund 499. • Offsetting Due to CSU Fund 499 (202340) entry will need to be made in each appropriate fund. (Debit Fund balance clearing 305022-Credit Due to CSU Fund 499 202340)

  7. New Fund for Investments! CSU FUND 541

  8. Fund 541 TF Pooled Investment Fund • Last year (2006/2007) all Investment income (Revenue) was posted to fund 499 only. • This year (2007/2008) all Investment income must be posted to each fund earning revenue. • YES, THIS IS A 180.

  9. CSU FUND 499 Investment Pool Now

  10. Need to Move Investment Pool to 541 • Move the Investment Pool to New CSU Fund 541 • Move all of Investment Income (Revenue) 508001 to funds earning investment income INCLUDING CSU Fund 485 • Once posted to CSU Fund 485 you can move it out but it must be posted there initially • No longer use the transfers in/out investment earnings accounts • CSU Fund 541 balance must be ZERO at Yearend

  11. CSU Fund 541 Activity

  12. Recap of changes to 2007/2008 • CSU Fund 499 is now only for Revolving Fund Activity. • CSU Fund 541 will be a temporary “memo” fund to hold investment activity until distributed to funds participating in your campus investment pool. • CSU Fund 485 must have its portion of interest income posted to it initially (It can then be transferred out as authorized).

  13. What do we do now?? • Look at CSU Fund 499 move any non-revolving fund type activity out of the fund • Move Investment Pool activity to new fund 541 • Discontinue use of the due to/from investment accounts and transfer interest by using the investment income account 508001 • Make sure both CSU Funds net to zero at yearend

  14. Questions?

  15. www.calstate.edu

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