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Introduction To Trust Fund/Special Projects Management

Introduction To Trust Fund/Special Projects Management. Laleh Graylee Cecilia Patz Financial Services Division of Administration & Finance. Agenda. CSU Funds Categories & Types Characteristics of Trust Funds/Projects Process of creating new Special Trust Fund Projects.

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Introduction To Trust Fund/Special Projects Management

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  1. Introduction To Trust Fund/Special Projects Management Laleh Graylee Cecilia Patz Financial Services Division of Administration & Finance

  2. Agenda CSU Funds Categories & Types Characteristics of Trust Funds/Projects Process of creating new Special Trust Fund Projects. Required roles and responsibilities related to the on-going account management of Trust.

  3. CSU Fund Categories & Types • Authority • Section 89721 of the Education Code & Executive Order 1000 Fund Types Enterprise Funds Internal Service Funds Investment Trust Funds Private Purpose Trust Funds Agency Funds

  4. Characteristics of Trust Funds • Sources of Trust Fund/Special Projects • Federal Trust Funds • Self Supporting Operations Trust • Special Projects/Other Trust • Unique CMS Fund Code • Beginning & End Dates • Interest Allocation • Management Fee

  5. Sources of Funds/Deposits

  6. List of Trust Funds By Department

  7. 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

  8. Required Forms • Trust Fund Agreement Form

  9. 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

  10. Chart of Accounts & Definition of Cost CenterReview From Account Management Workshop • Chart of Accounts • What is a Chartfield String? • Differences Between Various Types of Chart Fields • Organizational Structure • Department Tree Structure

  11. 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

  12. Differences Between Various Chart Fields Departmental Financial Management Responsibility: Balancing at Department + CMS Fund • 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)

  13. Accounting Entries & AdjustmentsReview From Account Management Workshop Accounting Process • Requesting New/Existing Funds/Accounts/Projects • Expenditure Adjustments/Corrections/Transfers • Recharges

  14. Reporting Tools Accessing Financial Information • Reporting Tools • Monthly Standard Reports

  15. 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

  16. Access to Distributed Reports • Portal Log In • e-Content Tab

  17. Access to Distributed Reports Distributed Reports

  18. Select Report Encumbrance/Expenditure Report Sort: By Fund

  19. Select Report Expenditure Summary Report Sort: By Fund

  20. Select Report Budget Balance Available Report Sort: By Fund

  21. Budget Balance Available Report – Revenue & Expense

  22. Reference • Website address for Trust Agreement http://finance.fullerton.edu/Controller/Accounting/TrustFunds.aspx

  23. Questions & Answers Contact Information • Felicity Tan    (ftan@fullerton.edu)    

  24. Thank You!

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