401 Golden Shore, 5th Floor
Long Beach, CA 90802-4210
Vice Presidents for Administration/Finance
Assistant Vice Chancellor, Controller
Each year the Chancellor’s Office allocates both direct and indirect costs to campuses; direct charges consists mainly of Systemwide Revenue Bond debt service, and indirect charges are made up of State Prorata costs and Chancellor’s Office overhead costs. The purpose of this memorandum is to provide you a summary of the total indirect and direct costs that will be charged to your campus during the 2011/2012 fiscal year.
Campuses will be charged a total of $14,554,000 of indirect costs in 2011/2012, which will be assessed in four quarterly installments of $3,638,000. Each campus’ portion of the quarterly assessment can be found on the attached summary as well as attachments by program. As compared to last fiscal year, the $2.5M increase is attributable only to the Department of Finance State Pro Rata charge allocated to the CSU and there has been no increase to the CO Overhead for 11/12.
Campuses will be assessed approximately $221,400,000 for direct costs (mainly debt service) in 2011/12. The transfers related to direct costs will occur on October 1, 2011 and April 1, 2012. Consistent with 2010/2011, campuses that participated in the issuance of the Build America Bonds (BABs) Series 2010B will receive bi-annual subsidies of approximately 35% of the interest expense coming due on November and May of each year. The subsidies are not incorporated in the attachments because they are not characterized as an offset to the debt service obligations and should be used for program operations. Please refer to the attached summary and detail by program for your campus’ portion of direct costs.
Please ensure that the appropriate fiscal personnel at your campus have this information as they will need it to develop and account for next year’s operating budget. If you have any questions please contact the referenced contact on attachment 3-17 or Kelly Cox at (562) 951-4611. Thank you for your assistance in this process.
Attachments 1 -17
Distribution of attachments:
|Vice Presidents for Student Affairs||(all attachments)|
|Business Managers||(all attachments)|
|Housing Officers||(attachments 1, 2, 3, 9, 10)|
|Student Union Directors||(attachments 1, 2, 5, 13, 14)|
|Parking Officers||(attachments 1, 2, 4, 11, 12)|
|Health Center Administrators||(attachments 1, 2, 6, 16)|
|Continuing Education Administrators||(attachments 1, 2, 8, 17)|
|Auxiliary Organization Administrators||(attachments 1, 2, 7)|
|Budget Officers||(all attachments)|
|Accounting Officers||(all attachments)|
|Benjamin F. Quillian||(all attachments)|