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ICSUAM Trust Fund Policy

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

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  1. 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

  2. Toolbox • Authorities • Trust Fund P0licy • Carry Forward • The “Matrix” • Legal Manual

  3. 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

  4. 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.

  5. 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.

  6. 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.

  7. 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:

  8. The “Matrix” • CSU Fund, Description and Official definition!! • Located in appendix 19 of the Legal Manual

  9. 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

  10. 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

  11. 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.

  12. Next Steps… • Final issuance of the Policy - TBD

  13. The “New” Legal Manual

  14. 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.

  15. The “New” Legal Manual Two New Chapter Templates • Chapters by CSU Fund • Chapters by Subject Matter

  16. 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

  17. The “New” Legal Manual

  18. The “New” Legal Manual • http://www.calstate.edu/sfsr/Y-E-R_Instructions/2013-2014/LegalManual/index.shtml

  19. The “New” Legal Manual

  20. Discussion

  21. Are we there yet?

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