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
April 2014 Year-End GAAP Training 2
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
April 2014 Year-End GAAP Training 3
SCO GAAP SUBMISSION
Templates (cont.) Delivered by Chancellor’s Office for completion by campuses
Capital Assets and Accumulated Depreciation Worksheet and Depreciation Expense Schedule
April 2014 Year-End GAAP Training 4
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?
April 2014 Year-End GAAP Training8
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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