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ICSUAM Trust Fund Policy. Lorlie Leetham , Assistant Vice President, Fiscal Services & Auxiliary Reporting, SLO Kelly Cox, Associate Director, Financial Services Accounting, CO Josee Larochelle , Associate Vice President, Finance, SJSU

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icsuam trust fund policy

ICSUAMTrust Fund Policy

Lorlie Leetham, Assistant Vice President, Fiscal Services & Auxiliary Reporting, SLO

Kelly Cox, Associate Director, Financial Services Accounting, CO

JoseeLarochelle, Associate Vice President, Finance, SJSU

Kristina Randig, Associate Director, Management & Accounting Practices Office, CO

toolbox
Toolbox
  • Authorities
  • Trust Fund P0licy
    • Carry Forward
  • The “Matrix”
  • Legal Manual
the authority of the csu
The Authority of the CSU
  • The Constitution of California
  • State Laws
    • Education Code
    • Budget Act
  • Donohoe Act of 1960
  • Title V
  • Board of Trustees
  • Chancellor
  • Campus President
trust fund policy structure
Trust Fund Policy Structure
  • Policy Objective
    • This policy is to provide direction for the establishment and management of CSU funds within the SCO’s “California State University” Trust Fund 0948, in order to comply with all applicable laws, codes and regulations.
trust fund policy structure1
Trust Fund Policy Structure
  • Policy Statement
    • EC § 89721 provides for the broad delegation of authority for certain monies to be deposited in SCO Fund 0948.
    • In order to provide management, governance and ensure compliance, the CSU has established unique CSU funds… to account for the financial resources collected for a specific purpose.
    • SCO Fund 0948 exists both in the records of the State Controller and in the official records of the CSU.
trust fund policy structure authority
Trust Fund Policy Structure: Authority
  • Authority to establish a CSU fund within SCO Fund 0948 is provided through a “Delegation of Authority” (DOA). Examples:
    • Education Code
    • Budget Act
    • Government Code
    • Financial Aid Regulations
    • Etc…
  • For those categories listed above, a separate Local Trust Agreement is not required.
trust fund policy structure authority1
Trust Fund Policy Structure: Authority
  • In the absence of a DOA, a Local Trust Agreement (LTA) must be completed to establish a local trust fund. The CSU funds which require LTA include:
the matrix
The “Matrix”
  • CSU Fund, Description and Official definition!!
  • Located in appendix 19 of the Legal Manual
the matrix1
The “Matrix”
  • For each SCO/CSU

Fund there is column for:

    • DOA or LTA
    • Other Authority Sources (i.e. Grantor Agreement or EO 1000)
    • Education or Government code
draft policy highlights
Draft Policy Highlights
  • 500 Service Provider Arrangements and Agreements
    • Changed review period to be in accordance with the contractual terms of the agreement or if not specified then annually, by the university Chief Financial Officer (CFO), or designee.
    • 300 General Requirements - What Changed:
      • Removed All reference to SCHOLARSHIPS
draft policy highlights1
Draft Policy Highlights
  • 300 General Requirements - What Changed:
  • Removed from Section 800 Fund Specifics
  • Add language that additional requirements for individual CSU Funds are addressed in section 2.0 “Authority and Fund Specifics,” within the Legal Manual chapters.
  • Although these requirements are contained in the Legal Manual, they are an extension of this policy and campuses must be in compliance.
next steps
Next Steps…
  • Final issuance of the Policy - TBD
slide14

The “New”

Legal Manual

the new legal manual
The “New” Legal Manual
  • Enhancements include:
    • CSU Business standards and Information
    • Procedure oriented information not appropriate for the policy
    • Larger chapters will be broken into more manageable sections
    • Standard formatting within Chapters
    • One repository for documents housed elsewhere, i.e. RMP documents, various guidelines, emails, etc.
the new legal manual1
The “New” Legal Manual

Two New Chapter Templates

  • Chapters by CSU Fund
  • Chapters by Subject Matter
the new legal manual2
The “New” Legal Manual
  • The standard template include the following:
    • Overview
    • Authority
    • Fund Specific: (POLICY)
    • Fund Management and Accounting
    • Reporting Requirements
    • Fund Balance
    • GAAP Impact
    • Resources
the new legal manual4
The “New” Legal Manual
  • http://www.calstate.edu/sfsr/Y-E-R_Instructions/2013-2014/LegalManual/index.shtml