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Michelle Korte

Transitioning to one PS Fund in 485. Michelle Korte. Chico. Why do campues have a separate revenue PS Fund in CSU fund 485?. Prior to RMP: Campuses maintained revenue funds which mapped to SCO Fund 0498 Higher Ed Fees & Income. RMP Current Situation:

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Michelle Korte

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  1. Transitioning to one PS Fund in 485 Michelle Korte Chico

  2. Why do campues have a separate revenue PS Fund in CSU fund 485? Prior to RMP: Campuses maintained revenue funds which mapped to SCO Fund 0498 Higher Ed Fees & Income. RMP Current Situation: Campuses may still have a separate PS Fund value for revenues even though revenues and expenses are both recorded in CSU Fund 485 due to “intense timing” of RMP implementation.

  3. A separate PS Fund for CSU Operating Fund Revenue is not necessary in RMP A separate PS Fund for CSU Operating Fund Revenue is not necessary in RMP • Revenues and Expenses map to the same FNAT for CSU Fund 485 • FIRMS Revenue program code 5000 is obtained via Rule 1 in the FIRMS derivation process based on account type. • FIRMS object codes provide the detail of revenue classification.

  4. Benefits of one PS Fund in CSU Fund 485 • Ability to utilize Peoplesoft delivered trial balance reports • Simplified analysis • Reduced fund maintenance

  5. Terminology For further reference in this presentation: “485 Revenue Fund” will refer to campus PS Fund used to record revenues in CSU Operating Fund 485, in our “old world” this would have mapped to SCO Fund 0498. “485 Expense Fund” will refer to campus PS Fund used to record expenses in CSU Operating Fund 485.

  6. Concerns to address before transitioning to one fund in CSU Operating Fund 485 • Subsystems • Student Financial System Item Types Use of 485 Revenue Fund • Cashiering system • Accounts Receivable System • Balance Sheet • Current Year Activity

  7. Chico’s approach to close out 485 Revenue Fund • Campus objective is to close the 485 Revenue Fund during the pre-close stage of 2006/2007. • In April 2007, new effective-dated rows were added to the fee item types in PS Student Finance dated 7/1/2007 for the Fall 2007 term. These new rows used 485 Expense Fund rather than 485 Revenue Fund. • In April 2007, effective-dated rows were added to the fee item types in PS Student Finance dated 7/1/2007 for each of the previous existing terms. These new rows also used the 485 Expense Fund rather than 485 Revenue Fund. • Chico will utilize the Peoplesoft Allocation Process functionality to move ledger balances from the 485 Revenue Fund to 485 Expense Fund as a final pre-close process.

  8. Available Resources Chico’s allocation process has been tested in a non-production environment. The business process guide is attached.

  9. Michelle Korte CSU, Chico (530) 898-5207 mkorte@csuchico.edu Matt Horn CSU, Chico (530) 898-5822 mhorn@csuchico.edu

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