© 2008 California State University, Fullerton

Introduction To Trust Fund/Special Projects Management

Laleh Graylee

Cecilia Patz

Financial Services

Division of Administration & Finance

Agenda

1. CSU Funds Categories & Types

2. Characteristics of Trust Funds/Projects

3. Process of creating new Special Trust Fund Projects.

4. Required roles and responsibilities related to the on-going account management of Trust.

CSU Fund Categories & Types

1. Enterprise Funds

2. Internal Service Funds

3. Investment Trust Funds

4. Private Purpose Trust Funds

5. Agency Funds

AuthoritySection 89721 of the Education Code & Executive Order 1000

Fund Types

Characteristics of Trust Funds

1. Sources of Trust Fund/Special Projects• Federal Trust Funds• Self Supporting Operations Trust• Special Projects/Other Trust

2. Unique CMS Fund Code

3. Beginning & End Dates

4. Interest Allocation

5. Management Fee

Sources of Funds/Deposits

Type ExampleFederal Trust Fund Scholarships and loan programs

Advance Payments under Federal Contracts or Grants

Self Supporting Funds/Specific Programs Fees and other revenues from instructionally

related activities (IRA).

Fees for Parking, Health Facilities or Health Services, and for Extension Programs, Special Sessions, and other self-supporting Instructional Programs.

Lottery Fund

Special Projects/Other Trust Gifts, bequests, donations, etc.

Fees and charges for optional use of Services, Materials or Facilities Money received for research, workshops, conferences, institutes, and special projects

List of Trust Funds By Department

Creating New Trust Projects

Required Forms

Trust Fund Agreement/Trust Fund Annual Budget

Management Approvals Division Head/Project Coordinator AVP of Finance or University Controller

Department’s Financial Management Responsibility

Required Forms

Trust Fund Agreement Form

Ongoing Account ManagementFor Trust/Special Projects

• Trust Agreement Renewals

– Annual Deadline – May 1st

• Reporting & Inquiry

– Budget Allocation

– Expenditure Tracking & Reconciliations

• Year End Closing and Carry-Forward Fund Balances

• Closing Existing CMS Trust Funds

Chart of Accounts & Definition of Cost Center Review From Account Management Workshop

• Chart of Accounts– What is a Chartfield String?– Differences Between Various Types of Chart Fields– Organizational Structure– Department Tree Structure

Chart of AccountsReview From Account Management Workshop

Chartfields

– Account (6 characters numeric)– Fund (5 characters alphanumeric)– Department ID (5 characters numeric)– Program (4 numeric)

– Class (5 alphanumeric) – Project (8 numeric)

Chartfield String

Chartfield String = Account + Fund + Department + Program + Class + Project

Differences Between Various Chart Fields

• Mandatory chartfields– Account (6 characters numeric)– Fund (5 characters alphanumeric)– Department ID (5 characters numeric)

• Optional chartfields– Program (4 numeric) – Leave Blank– Class (5 alphanumeric) – Extension of Dept– Project (8 numeric)

Departmental Financial Management Responsibility:

Balancing at Department + CMS Fund

Accounting Entries & Adjustments Review From Account Management Workshop

Accounting Process

– Requesting New/Existing Funds/Accounts/Projects

– Expenditure Adjustments/Corrections/Transfers

– Recharges

Reporting Tools

Accessing Financial Information

– Reporting Tools

• Monthly Standard Reports

Monthly Standard Reports

CMS Training Documentation and Tutorials

http://www.fullerton.edu/cms/Training/docs/finance.html

List of Distributed Reports– Budget Balance Available Report– Requisitions/P.O. Report– Expenditure Summary & Detail– Open Commitments

Access to Distributed Reports

Portal Log Ine-Content Tab

Access to Distributed Reports

Distributed Reports

Select ReportEncumbrance/Expenditure ReportSort: By Fund

Select ReportExpenditure Summary ReportSort: By Fund

Select ReportBudget Balance Available ReportSort: By Fund

Budget Balance Available Report – Revenue & Expense

Reference• Website address for Trust Agreement

http://finance.fullerton.edu/Controller/Accounting/TrustFunds.aspx

Questions & Answers

Contact Information – Felicity Tan (ftan@fullerton.edu)

Thank You!