SCO GAAP Submission

Roberta McNiel and Su Chen, SFSR

Chancellor’s Office

Year-End GAAP Training

April 18, 2014

SCO GAAP SUBMISSION

General Information Requirements set forth in Chapter 18 of GAAP Manual

Revised capital assets and accumulated depreciation template

New template: Detail of Pollution Remediation Obligations

Revised data integrity form (due to the CO September 8, 2014)

No change in other templates

Templates due to the CO September 12, 2014

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SCO GAAP SUBMISSIONTemplates

Located in TM1, SCO folder: Breakdown of Statement of Cash Flows Calculation of Net Investment in Capital Assets

Located in TM1, YES folder Other Liabilities Detail

Excel templates, Systemwide Financial Standards & Reporting website - http://www.calstate.edu/SFSR/Workshops/index.shtml Legal to GAAP Reconciliation (governmental funds only) Reconciliation of Due To/From Accounts Reconciliation of Transfers Pollution Remediation Obligations Detail

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SCO GAAP SUBMISSION

Templates (cont.) Delivered by Chancellor’s Office for completion by campuses

Capital Assets and Accumulated Depreciation Worksheet and Depreciation Expense Schedule

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SCO GAAP SUBMISSIONCapital Assets & Accumulated Depreciation Worksheet/Depreciation Expense Schedule

• The SCO requires for each funding source the beginning balance, additions, deletions, transfers and the ending balance for both capital assets and the related accumulated depreciation.

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Did someone say “monster template”?

Capital Assets & Accumulated Depreciation Worksheet/Depreciation Expense Schedule (continued)• The SCO template

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Going, still going..What is the last column of the worksheet?

Capital Assets & Accumulated Depreciation Worksheet/Depreciation Expense Schedule (continued)• New CSU template for FY 2013-14

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Does this look familiar to anyone?

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Capital Assets & Accumulated Depreciation Worksheet/Depreciation Expense Schedule (continued)• New template is derived from Report 18

The new template excludes “Depreciable Capital Assets, net of depreciation” section.

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Capital Assets & Accumulated Depreciation Worksheet/Depreciation Expense Schedule (continued)• New process – step 1

Update the legal-basis data in PeopleSoft module in July

The "Adjusted Beg. Balance" for each

state fund should be the same as last

year's ending GAAP balance as reported

on last year's SCO GAAP template.

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Capital Assets & Accumulated Depreciation Worksheet/Depreciation Expense Schedule (continued)• New process – step 2

The CO will issue to campuses an Excel workbook on August 25. The workbook will contain three tabs: instructions tab, a capital assets/accumulated depreciation worksheet and depreciation expense schedule

Only "Addit ions", "Deduct ions" & "Transfers"

columns need to be updated. All subtotals and

totals will be calculated automat ically by

formulas.

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Capital Assets & Accumulated Depreciation Worksheet/Depreciation Expense Schedule (continued)• New process – step 2 (continued)

Depreciation Expense tabEnter depreciat ion expense by state fund.

Add state funds to the template as necessary.

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Capital Assets & Accumulated Depreciation Worksheet/Depreciation Expense Schedule (continued)• New process – step 3

Upload the completed workbook to the State Reporting SharePoint site (not the PBC site) on or before September 12.

One last note about the workbookPlease do not insert or delete any rows or

columns from the workbook.

https://csyou.calstate.edu/groups/StateReporting/SCO%20GAAP%20Schedules/Forms/AllItems.aspx

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Capital Assets & Accumulated Depreciation Worksheet/Depreciation Expense Schedule (continued)• New process - review

Step 1 - Update the legal basis data in PeopleSoft module

Step 2 - The CO will issue to campuses an Excel workbook.

August 25

Step 3 – Upload the completed Excel workbook to the State Reporting SharePoint site.Before

Sep. 12

Mid-July

Monster template, bye la.

SCO GAAP SUBMISSIONPollution Remediation Obligations Detail Required by the SCO beginning fiscal year ended June 30, 2013 Detail of amount included in Other Liabilities Detail; must tie to entry

on the TM1 schedule Schedule required for each state fund recording this type of liability Required information includes:

Brief description of the remediation activity Disclosure information consisting of:

Nature and source of obligation Total amount of estimated liability Methods and assumptions used to estimate the liability Potential for changes in the estimated amount

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SCO GAAP SUBMISSIONPollution Remediation Obligations Detail (cont.)

Estimate of insurance recovery or recovery from other sources If the liability can’t be reasonably estimated, the reason why

Rollforward of the liability Allocation between current and noncurrent

Examples of what to enter in the description and disclosure fields are provided at the Instructions tab of the template

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SCO GAAP SUBMISSION

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POLLUTION REMEDIATION OBLIGATIONS DETAIL AGENCY NUMBER & NAME:FISCAL YEAR: FUND NUMBER:

FUND NAME:

(A) (B) (C) (D) (E) (F)

-$ -$ -$ -$ -$ -$

1 The disclosure information required for the liabilities includes:a) The nature and source of the obligation;b) The amount of the estimated liability;c) The methods and assumptions employed to estimate the liability;d) The potential for changes in the estimate due to changes in prices, technology, laws and regulations, and other factors;e) An estimate of the amount the agency expects to recover from insurance or other parties, thereby reducing its liability;f) If the liability for a project, or portion thereof, cannot be reasonably estimated, indicate why.

2 Includes negative additions (i.e., when the remeasurement/reestimation of the liabililty is less than what was previously estimated)

Due Within 1 Year

Noncurrent Liability (D - E)

Pollution Remediation Activity Disclosure Information1 Beginning Balance Additions2 Deductions

Ending Balance (A + B - C)

SCO GAAP SUBMISSION

Submission Method for Excel Templates

SharePoint – State Reporting site https://csyou.calstate.edu/groups/StateReporting/SitePages/Ho

me.aspx

Library – SCO GAAP Schedules See naming conventions at General Information library

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SCO GAAP SUBMISSION

Revised GAAP Data Integrity Certification Form Supersedes the SCO GAAP Data Integrity Certification Form Designed to certify the accuracy of all GAAP data submitted by

campuses and includes the following: GAAP FIRMS TM1 PBCs SCO GAAP templates Supplementary data provided for the SRB financial statements

Confirms compliance with ICSUAM and the GAAP Manual

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SCO GAAP SUBMISSIONRevised GAAP Data Integrity Certification Form (cont.)

Reminds campuses that data must be accurate at the CSU fund level

Should any submission have an unacceptable level of errors, it will be returned to the campus; re-submission of a corrected file will be given high priority by the campus

Form must be signed by the campus vice president of administration and finance

Upload as a PDF file to the SCO GAAP Schedules library in SharePoint at the same time GAAP FIRMS submitted --- September 8

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www.calstate.edu

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